13 January 2008
Current A/c: Business Purpose and it does not get interest. Savings: Individuals can open it. Interest every half year is paid on it. Fixed Deposit Account: Certain Sum is kept with the bank for 6 months to five years. You get interest at duration or on maturity. Recurring Deposit: Every month you can deposit and get certain sum after one year or even 10 years. Time Deposit: Fixed Deposit on which you get interest on maturity (Cumulative Deposit).
CAclubindia
