What Is Deposit? Definition And Usage Of This Term

What Is Deposit? Definition And Usage Of This Term

WHAT IS DEPOSIT – In this topic, we will first know and learn the definition of this term and how is this term used in sentences.

WHAT IS DEPOSIT

Definition

The Oxford Dictionary defines the term as the following:

  • a sum of money placed or kept in a bank account, usually to gain interest.
  • a sum payable as a first installment on the purchase of something or as a pledge for a contract, the balance being payable later.
  • a layer or body of accumulated matter.
  • the action of placing something in a specified place.
  • put or set down (something or someone) in a specific place, typically unceremoniously.
  • (of water, the wind, or other natural agency) lay down (matter) gradually as a layer or covering.
  • store or entrust with someone for safekeeping.

Meanwhile, the Merriam-Webster dictionary defines this term as the following:

  • to place especially for safekeeping or as a pledge
  • to lay down
  • to let fall (something, such as sediment)
  • the state of being deposited
  • something placed for safekeeping
  • money deposited in a bank
  • an act of laying or putting something or someone down : an act of depositing
  • matter deposited by a natural process

Synonyms

Here are some of the following synonyms:

  • down payment
  • part payment
  • advance payment
  • prepayment
  • installment
  • security
  • retainer
  • put (down)
  • place
  • lay (down)
  • set (down)
  • unload
  • rest
  • settle
  • sit

Etymology

It is a late 16th century which is from the Latin term depositum and the medieval Latin depositare, which are both from the term deposit- or ‘laid aside’,

Examples

Here are some examples of the usage of this term:

  • Passengers who cancel their reservations will forfeit their deposit.
  • A man on his way to deposit $120 000 in a bank was waylaid by two men who punched him and snatched his bag yesterday.
  • Your dog left a little deposit on my front lawn, and I would appreciate it if you would clean it up.
  • The global system of moving fluids at the Earth’s surface result in surface processes such as erosion and deposition by running water.

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