Meaning & Definition of word "Deposit"

Deposit

/dɪˈpɒzɪt/

1. A sum of money placed or kept in a bank account, usually to gain interest.
- Example: She made a deposit of $500 into her savings account.
2. A payment given as a guarantee for the performance of a contract or agreement.
- Example: He paid a deposit to secure the rental of the apartment.
3. A substance that has been laid down or accumulated.
- Example: There was a deposit of minerals in the cave.

1. To place or store (money) in a bank or other financial institution.
- Example: I will deposit my paycheck into my checking account.
2. To lay down or place something in a specific position.
- Example: The construction workers will deposit the concrete in the foundation.

From Latin 'depositum', meaning 'something entrusted to another'.

security deposit:

A sum of money held by a landlord as protection against damage.

first deposit:

The initial payment made towards an account or investment.

deposit slip:

A form used to deposit money into a bank account.

depositor:

A person who deposits money in a bank.

depositary:

A person or institution that holds a deposit.

Meaning: To put money down.

Example Sentence: I'm gonna deposit some cash on that new bike.

Meaning: To leave something temporarily.

Example Sentence: I need to deposit my bags at the hotel.