There are Four types of Bank accounts are as Follows :


1) Fixed Deposit Account :


                     In this types of account a certain amount is deposited for a fixed period of time in order to earn interest. This amount can be drawn only after the expiry of the fixed period. Generally those persons, who intend to earn income by the way of interest, deposit into this account. This account is not too useful to Businessman for regular banking transactions. However surplus funds can be invested in this account to earn extra income.


2) Recurring Deposit Account :

             
                    In this type of account the depositor deposits a fixed sum of money every month for a specific period of time. Depositor is not allowed to withdraw from this account until its maturity. On maturity Bank pays total amount of deposit along with interest on that lump sum to account holder.




3) Savings Account : 


   
                     The object of this account is to encourage saving habit in Limited income group. Amount deposited in this account can be withdrawn once or twice a week. Interest at a prescribed rate is allowed on this Deposit. The Depositor can avail cheque facility but for this a minimum balance must be retained in this account.



4) Current Account :  


                     Depositor  can deposit and withdraw any number of times from this account during the Bank working hours. There is no restrictions on the number of withdrawals. Generally no interest is allowed on this account. But some Bank pay 0.5 % or 1% on current account. Current account also grants cheque book facility to its account holder.

                     Businessman opens a current account with bank not for earning interest but enjoy banking, credit and other services given by bank. Current account holders also get overdraft facility on this account.

7 comments:

  1. This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here keep up the good work.
    Best Managed Accounts

    ReplyDelete
  2. Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info. test bank go

    ReplyDelete
  3. Actually I read it yesterday but I had some thoughts about it and today I wanted to read it again because it is very well written. linked here

    ReplyDelete
  4. I think this is one of the most significant information for me. And i’m glad reading your article. But should remark on some general things, The web site style is perfect, the articles is really great : D. Good job, cheers CSGO 1000 Hours Accounts

    ReplyDelete
  5. Buy Valorant Smurf Accounts from the best gaming marketplace. Valorantatsmurfshop provides best valorant ranked accounts:
    You can find three types of valorant accounts
    NA Region Valorant Accounts
    EU Region Valorant Accounts
    SEA Region Valorant Accounts

    ReplyDelete
  6. CSGO VIP Accounts have high steam levels and good coins, badges, and medals. The steam level of these accounts ranges from 10 to 500. You don't need to pay more for these steam-level accounts. If you buy level-up sets, it will have cost more than the price of these VIP csgo accounts. Buy CSGO High Tier Accounts From WayToSmurf

    ReplyDelete
  7. Waytosmurf.com could be a leading online portal to shop for CSGO (Counter-Strike) accounts at the simplest prices. Are you trying to find the most effective
    CSGO Prime accounts
    seller of accounts. We provide instant delivery of CSGO Veteran Coin Accounts at the simplest cost. We ensure 100% genuine and dealing arrangements to you 24*7. So, buy CSGO prime accounts today to play your required CS level.

    ReplyDelete

See Also..