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financial account |
A formal banking, brokerage, or business relationship established to provide for regular services, dealings, and other financial transactions.
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adjustable rate account | An InterestBearingAccount in which the interest rate is adjusted periodically, usually based on a standard market rate outside the control of the bank or savings institution, such as that prevailing on TreasuryBill or the primeInterestRate. |
| | fixed rate account | An InterestBearingAccount in which the interest rate does not change during the entire term of the loan. |
| | savings account | An account in a bank on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form. |