Meaning of the word "security deposit" in English

What does "security deposit" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

security deposit

US /sɪˈkjʊr.ə.ti dɪˈpɑː.zɪt/
UK /sɪˈkjʊə.rə.ti dɪˈpɒz.ɪt/
"security deposit" picture

Noun

a sum of money held by a landlord or other party as security against damage or non-payment of rent

Example:
The landlord required a one-month security deposit.
Make sure to get your security deposit back when you move out.