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club account


Definition
An interest-bearing savings account offered by a financial institution to investors looking to save for particular purpose, such as a holiday vacation. A club account is funded by the investor when it is opened, and typically remains open for one year. Penalty fees are assessed if the investor withdraws funds from the account before the account matures.


Related Terms

holiday club account -  More

vacation club account -  More

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club account is ...

... part of the Banking subject.

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