Current Account definition

Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

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Current Account means a form of non-interest bearing demand deposit where from withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount. and shall also be deemed to include other deposit accounts which are neither Savings Deposit nor Term Deposit;

Current Account means the Islamic current account(s), structured on the concept of Qard as per rules and Principles of Islamic Shari’a opened and maintained by the Customer (lender) with the Bank (borrower).

Examples of Current Account in a sentence

• The current account relationship shall terminate, and the Current Account shall be closed, on the Commitment Expiry Date.

• The Purchaser and the Centralising Unit hereby agree to enter into a current account relationship (relation de compte courant) (the "Current Account").

• In the case of a credit balance of the Current Account on a Calculation Date, as stated in the Current Account statement communicated in accordance with the provisions of Article 5.3.1, the Purchaser shall pay to the Centralising Unit's Account in immediately available funds an amount equal to such credit balance on the Funded Settlement Date or on the Intermediary Settlement Date in relation to which the Current Account statement has been drawn up, in accordance with the provisions of Article 15.5.

• The Parties acknowledge that the payment of such fee shall be expressly excluded from the Current Account mechanism.

• Once the payment referred to in Article 5.3.2 or in Article 5.3.3 has been made, the Current Account shall be balanced at zero (0).

More Definitions of Current Account

Current Account means current account( s) opened and maintained by Members and/or Clearing Corporation with the Deposit Accounts Department of RBI or with a Settlement Bank.

Current Account means an account, in accordance with the terms set out in clause

Current Account means any current account maintained with the bank, which are opened in the name of an individual or a sole proprietorship.

Current Account means the Singapore Dollar current account opened and maintained by MAS for the Specified Institution pursuant to Clause 2.3 hereunder;

Current Account means a current account that a participant shall open with MAS for maintaining cash balances; “Custody Cash Account” means a Singapore dollar account opened and maintained by MAS for a participant, in accordance with the “Terms and Conditions Governing the Operation of the Custody Cash Account of the Specified Institution”;

Current Account means an account, in accordance with the terms set out in clause 9.3 of these Terms and Conditions;

Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or upto a particular agreed amount and shall also be deemed to include other deposit accounts which are neither Savings Deposit nor Term Deposit;