Call deposit

Call deposit is a specific type of interest bearing account that allows to withdraw money from the account without a penalty and without prior notification. 

This type of deposit account can be opened with the same conditions as time deposit.

Usually, call deposits:

  • have minimum amount and can allow replenishment, the replenishment amount usually has a minimum limit like 100$
  • allow regular replenishments from your checking account (current account) to accumulate some amount for the end date of the call deposit
  • have long-term duration like several years
  • have higher rate of return than traditional savings account, but less rate than time deposit.

In some countries, interests rate of call deposit can be calculated on base of:

  • minimum of everyday (every month) balance of the time deposit
  • minimum of everyday (every month) balance of all your accounts in that bank
  • etc.

All other conditions can be the same as for savings account or time deposit, and depend on the country and your bank.

Olga Slipchenko