A key distinction here - you are required to check the box (or include the statement if not a standardized TIL disclosure form) even if the required deposit account does not actually secure the loan. For example, if you have a consumer loan policy that requires consumer loan customers maintain a checking or savings account with the bank, and that account pays less than 5% interest, you are required to give the "required deposit" disclosure language in the TIL even though the loan is not secured by the deposit account. I think the questionnaire is worded the way it is because typically the only time banks require a deposit account be maintained as a condition of the loan is when the loan will be secured by the deposit account.
Jim Bedsole, CRCM, CBA, CFSA, CAFP
My posts - my opinions