deposit Definition
- 1a sum of money paid into a bank or building society account
- 2a sum payable as a first instalment on the purchase of something or as a pledge for a contract, the balance being payable later
- 3a natural layer of rock, soil, or other material
- 4the action of depositing something
Using deposit: Examples
Take a moment to familiarize yourself with how "deposit" can be used in various situations through the following examples!
Example
I made a deposit of $1000 into my savings account.
Example
The deposit for the apartment was $500.
Example
He put down a deposit on the car he wanted to buy.
Example
The river has deposited a layer of silt on the banks.
deposit Synonyms and Antonyms
Idioms Using deposit
Example
He put down a deposit on the car he wanted to buy.
to accept a sum of money as a pledge for a contract, with the balance being payable later
Example
The company took a deposit of 10% on the construction project.
Example
She made a deposit of $1000 into her savings account.
Phrases with deposit
a sum of money paid by a tenant to a landlord at the start of a tenancy, to be kept separately and returned to the tenant at the end of the tenancy, unless the tenant has caused damage or breached the terms of the tenancy
Example
The landlord required a security deposit of $500 before allowing the tenants to move in.
a savings account that requires a fixed amount of money to be deposited for a specific period of time, usually with a higher interest rate than a regular savings account
Example
She opened a time deposit account to save money for her child's education.
a payment method where an employer deposits an employee's paycheck directly into their bank account, rather than issuing a physical check
Example
She signed up for direct deposit to receive her salary more conveniently.
Origins of deposit
from Latin 'depositum', meaning 'something deposited'
Summary: deposit in Brief
The term 'deposit' [dɪˈpɒzɪt] refers to a sum of money paid into a bank account, a first instalment on a purchase, or a natural layer of rock or soil. It also denotes the action of depositing something, such as making a payment or leaving a layer of sediment. Phrases like 'security deposit' and 'direct deposit' extend its usage, while idioms like 'put down a deposit' and 'make a deposit' describe payment actions.
