Definition of sight deposit in English:

sight deposit


  • A bank deposit that can be withdrawn immediately without notice or penalty.

    • ‘If a customer has the right to withdraw funds instantly, without interest, tax relief or other penalty, from their deposit account, the account should be recorded as a sight deposit.’
    • ‘As of October 1, 2004 the interest rate on a sight deposit is 0.55% as well as in the client's funds on the current account.’
    • ‘The bank's banking services include offering loans; deposits, such as sight deposits, term deposits, savings deposits; and savings certificates and bonds.’
    • ‘The high growth rate of low cost funds, such as savings and sight deposits, is the result of the ‘maturing’ phase of the new branch network units.’
    • ‘The increase in transaction accounts resulted in a greater volume of corporate sight deposits.’