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 Amount deposited in this account can be withdrawn once or twice a week.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.

6 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. games are also instruments that introduce a child to computer technology and the Internet. Being familiar with these high-tech gadgets is necessary to keep up with the fast development of the world. rust accounts for sale

    ReplyDelete
  6. I am very happy to discover your post as it will become on top in my collection of favorite blogs to visit. csgo high tier account

    ReplyDelete

See Also..