deposit-interest

Vocabulary Word

Definition

'Deposit interest' is the extra money you receive from a bank when you keep your money there for a certain period. It's like the bank is renting your money and paying you for it.

Examples in Different Contexts

In savings strategies, 'deposit-interest' plays a crucial role in determining how quickly savings can accumulate. A savings strategist might advise, 'Comparing deposit-interest rates among banks can help you find the best option for accelerating your savings growth.'

Practice Scenarios

Academics

Scenario:

The influence of central banks' policies on economic stability is a popular topic for discussion.

Response:

Indeed, deposit interest rates greatly influence consumer savings behavior and overall economic stability.

Business

Scenario:

With the national economy growing, we should consider adjusting our bank's rates to stay competitive in the market.

Response:

I think we can consider increasing our deposit interest rate to draw more customers.