types of bank a/cs
This query is : Resolved
Jaspreet kaur
(Querist)
13 January 2008
i want to knw the difference bw current a/c, savings a/c,fixed deposit a/c and recurring deposit a/c and time deposit a/c
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).
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).
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