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Answer: A secured deposit is a deposit accepted by a company which is secured by a charge on its assets.

The company creates a charge (other than on intangible assets) on its tangible assets in favour of the depositors, and the value of the security must not be less than the amount of deposits and interest. A deposit trustee is appointed to protect the interests of depositors, and the circular states that the deposits are secured. Deposits which are not so secured must be described as unsecured deposits.

Doubtly AI · 28 Oct 2026 AI-verified · Oct 2026 Report
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