The Meaning of Deposit and Its Differences from Regular Savings, Also Know Its Types

Kapanlagi.com - Deposit is a word or term that we may have heard quite often. The term deposit is often referred to as a deposito. Generally, the term deposit is commonly used in the banking world. That's why the meaning of deposit is often associated with a certain amount of money, funds, or savings. However, is that true?

Although it has become a common term, in fact, there are still many people who do not know the meaning of deposit or deposito. Many people think that deposit is a savings account. However, deposit has many types that should also be understood.

To understand the meaning of deposit along with its uses and types, let's directly refer to the following review that has been summarized by kapanlagi.com from various sources.

1. Meaning of Deposit According to the Dictionary

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Deposit has become a part of the Indonesian language. Therefore, to know the meaning of deposit, we can directly check it in the Indonesian Dictionary (KBBI). Interestingly, in KBBI, the word deposit has two meanings.

First, deposit is a rock, soil, or other solid material carried by rivers, seas, or glaciers from one place to another. Meanwhile, the second meaning of deposit in KBBI is a certain amount of money deposited in a specific account for security or transaction convenience; a guarantee.

Based on the two meanings of deposit in KBBI above, it seems that the meaning of deposit is more commonly used in everyday life. This is because the first meaning of deposit refers more to a specific field of science, in this case, geography. Therefore, the use of the word deposit in the context of that meaning is very limited in the field of geography.

On the other hand, the second meaning of deposit is closer to the field of economics. As we know, economics is a part of people's lives that everyone realizes or not. Therefore, the meaning of the second word deposit seems to be more relevant to what we commonly encounter in everyday life.

2. Difference between Deposit and Regular Savings

To understand what a deposit or deposito is, it is not enough to just know the meaning based on the dictionary. Moreover, we also need to understand the meaning of deposit from an economic perspective.

In broad terms in the field of economics, the meaning of deposit refers to a person's ability to save money to manage something. Yes, it turns out there is a difference between deposit and regular savings in general. Deposit is not just saving a certain amount of money or funds. But as explained, deposit becomes savings that are used to manage something.

Furthermore, another difference between regular savings and deposit lies in the time period. If regular savings can generally be deposited and withdrawn at any time, it is different from deposit. Because deposit is a money storage product at the bank that can only be withdrawn after a specified period of time. So, deposit savings cannot be withdrawn just like that before the specified time period.

However, on the other hand, deposit and regular savings also have some similarities. One of them is that they both earn interest. That is why deposit is often chosen as an alternative option for someone to save and gradually increase their wealth.

3. Meaning of Other Deposits

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Besides time deposits, it turns out there are other meanings of deposits that are still related to banking and finance. Deposit can mean as a down payment, in this context deposit is often referred to as DP or down payment. 

As a down payment, deposit functions for upfront payment. However, the implementation of the deposit or down payment system is also risky. Because, if the transaction is canceled, the deposit money cannot be refunded if there is a cancellation, or can only be partially refunded. However, of course, it depends on the agreement between the two parties conducting the transaction.

4. Types of Deposits

As mentioned earlier, the meaning of deposit is different from regular savings. In addition, there are also many types of deposits. To further enhance your understanding of deposits, here is an explanation of the types of deposits.

(kpl/psp)