Term deposit and time deposit
This query is : Resolved
13 July 2013
What is the difference between term deposit, time deposit, fixed deposit and Recurring Deposit? I searched over internet but didn't find satisfied answered. Please tell me what the exactly difference between them.....
13 July 2013
TERM DEPOSIT IS USUALLY FOR FIX PERIOD SAY FOR 3MNTHS,6 MONTHS ETC.
TIME DEPOSITS ARE FOR EG 7-15 DAYS,15-30 DYS AND SO ON USUALLY IN DAYS.
FIX DEPOSIT IS USED WHEN ITS NORMALLY MORE THEN 6MONTHS OR 1YEAR AND ABOVE.
RECURRING DEPOSIT MEANS UR INT ON DEPOSIT IS REINVESTD AND U GET INT ON INT.
HOPE NOW U CLEAR.
TIME DEPOSITS ARE FOR EG 7-15 DAYS,15-30 DYS AND SO ON USUALLY IN DAYS.
FIX DEPOSIT IS USED WHEN ITS NORMALLY MORE THEN 6MONTHS OR 1YEAR AND ABOVE.
RECURRING DEPOSIT MEANS UR INT ON DEPOSIT IS REINVESTD AND U GET INT ON INT.
HOPE NOW U CLEAR.
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