Deposits: meaning, definitions and examples
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deposits
[dɪˈpɒzɪts ]
Definitions
financial transactions
Deposits refer to money that is placed into a bank account. It is a sum of money that is usually placed for safekeeping or to earn interest.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| deposits |
Amounts of money placed into an account at a bank or financial institution. Often used when referring to actions performed on a regular basis or as part of a financial transaction.
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| funds |
A general term for money, especially when it is collected or stored for a particular purpose. This word is versatile and can be used in both formal and informal settings.
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| savings |
Money that someone has kept aside, usually in a savings account, and not spent. Commonly used in personal finance and household contexts.
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| investment |
Money that is put into something with the expectation that it will generate a profit or increase in value over time. Typically used in more formal and financial contexts.
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Examples of usage
- I made a deposit of $100 into my savings account.
- The bank requires a minimum deposit of $50 to open an account.
geology
In geology, deposits are layers or accumulations of minerals, rock, or other materials. They are formed by natural processes such as erosion or sedimentation.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| deposits |
Can also refer to sums of money placed in a bank or other financial institution.
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| reserves |
Used when referring to amounts of a resource that are available for future use, often in the context of natural resources or finances.
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| veins |
Typically used to describe narrow, sheet-like bodies of mineral material that fill fractures or cracks in rock. It can also be used metaphorically.
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Examples of usage
- The gold deposits in that region are extensive.
- The mining company discovered a rich deposit of copper.
to put or set down
To deposit means to put or set down something in a specific place. It can refer to physically placing an object or making a payment into an account.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| deposits |
Used in financial and geological contexts: can refer to money put into a bank account or natural accumulations of minerals.
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| place |
Used for positioning or arranging an object in a specific location.
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| put |
General use for moving something to a particular position; very casual and versatile.
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| store |
Refers to keeping objects or information for future use, especially in a protected or organized manner.
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Examples of usage
- Please deposit your bags in the luggage area.
- I need to deposit this check at the bank.
Interesting Facts
Etymology
- The word 'deposit' comes from the Latin word 'deponere', which means 'to put down' or 'to lay aside'.
- The term has been used in English since the 14th century, initially referring to physical items placed somewhere.
- In banking, 'deposit' took on its financial meaning in the 16th century as banks began to hold money for customers.
Banking Practices
- Bank deposits are crucial for the economy as they are often multiplied through lending, fueling business investments.
- Interest on savings deposits encourages people to save, as they earn money over time just by keeping their money in the bank.
- Different types of deposits include checking accounts, savings accounts, and fixed deposits, each serving unique purposes.
Cultural Significance
- In modern cultures, deposits are associated with financial security and can represent stability and responsibility.
- Trust in banks has developed over centuries, leading to legal systems that protect people's deposits from loss or theft.
- Deposit practices vary globally, with some cultures encouraging cash deposits and others emphasizing digital transactions.
Environmental Science
- In geology, 'deposits' refer to natural occurrences of minerals and materials like coal, oil, or precious metals, often formed through sedimentation.
- Certain deposits are studied to understand Earth's history and the formation of natural resources.
- The extraction of natural deposits carries significant environmental implications, driving the need for sustainable practices.
Psychology
- Research shows that saving behavior is influenced by psychological factors such as impulse control and future planning.
- People who regularly make deposits tend to feel more secure and less anxious about their financial situations.
- The habit of making deposits can also be related to broader personality traits like conscientiousness and responsibility.
Translations
Translations of the word "deposits" in other languages:
🇵🇹 depósitos
🇮🇳 जमाओं
🇩🇪 Einlagen
🇮🇩 deposito
🇺🇦 депозити
- вклади
- відкладення
🇵🇱 depozyty
🇯🇵 預金
🇫🇷 dépôts
🇪🇸 depósitos
🇹🇷 mevduatlar
🇰🇷 예금
🇸🇦 الودائع
🇨🇿 vklady
🇸🇰 vklady
🇨🇳 存款
🇸🇮 vloge
🇮🇸 innlán
🇰🇿 депозиттер
🇬🇪 ანაბრები
🇦🇿 depozitlər
🇲🇽 depósitos