Deposit account is an agreement (opened account) to deposit money for a fixed period with a bank that will pay you interest. Usually deposit account earns you higher interests than savings account but requires notice of withdrawal (or even doesn’t allow any withdrawal before the end of deposit's term).

There are several types of deposit accounts:

• certificate of deposit
• time deposit account
• call deposit account

The common features of deposit accounts:

• fixed amount or minimum amount
• term of deposit or minimum term of deposit
• fixed interest rate or interest rate that depends on amount, term and/or currency.