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Assignment of Deposit
Free assignment of deposit template — a depositor assigns their rights to a bank account or certificate of deposit as collateral for a loan.
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This free assignment of deposit covers 1. Assignment, 2. Restriction on Withdrawal, 3. Bank's Acknowledgment, 4. Default, 5. Release with 6 clearly marked [placeholder] fields to fill in — built for small businesses and individuals documenting a loan or expense putting financial terms in writing so both sides have a clear, shared record. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Assignment of Deposit
Assignor (Depositor): [Name] · Assignee (Lender): [Name] Bank: [Bank Name] · Account/CD Number: [Number, or reference securely] · Date: [Date]
1. Assignment
Assignor assigns to Assignee a security interest in the deposit account/certificate of deposit described above, in the amount of [Amount], as collateral for [Reference the underlying loan/obligation].
2. Restriction on Withdrawal
Assignor agrees not to withdraw, close, or otherwise encumber the assigned funds without Assignee's written consent, for as long as this assignment remains in effect.
3. Bank's Acknowledgment
This assignment is not effective against the Bank until the Bank receives notice and acknowledges its agreement to hold the funds subject to Assignee's interest, restricting withdrawal per this Agreement.
4. Default
If Assignor defaults on the underlying obligation, Assignee may direct the Bank to apply the assigned funds toward the amount owed, per the Bank's acknowledgment and applicable law.
5. Release
Upon satisfaction of the underlying obligation, Assignee will promptly notify the Bank to release the assignment and restore Assignor's full control over the account.
Assignor: ______________________ Date: ____________ Assignee: ______________________ Date: ____________ Bank acknowledgment: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. The Bank's written acknowledgment (Section 3) is what actually makes this collateral arrangement enforceable — without it, the assignment is just an agreement between borrower and lender that the bank itself isn't bound to honor if the depositor tries to withdraw the funds anyway.*
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What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 5 standard sections: 1. Assignment, 2. Restriction on Withdrawal, 3. Bank's Acknowledgment, 4. Default, 5. Release
- 6 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Informal lending & reimbursements
Money changing hands between people or a business and its team, without a bank's paperwork.
FAQ
Is this assignment of deposit template really free?
Yes. Like every template in docstoc's library, this assignment of deposit is free to use, with no account or signup needed to view, edit, or download it.
What does this assignment of deposit cover?
This finance template includes 1. Assignment, 2. Restriction on Withdrawal, 3. Bank's Acknowledgment, 4. Default. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This covers the standard structure, not the interest-rate limits, disclosure requirements, or tax implications that can apply depending on your state and the amount involved. Check those specifics with an accountant or financial attorney before you rely on it.
Can I edit the wording?
Yes. All 6 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.
Where can I find more free templates like this?
Browse more free finance and related document templates in the docstoc library at /document-templates/.
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