Скачать или смотреть TYPE OF BANK DEPOSITS - N SRINIDHI - II B COM 'D'

TOPIC : TYPE OF BANK DEPOSITS
BANK DEPOSITS- A TYPICAL FORM OF ACCOUNTS FOR HOLDING PEOPLE’S MONEY
COMMON TYPES OF DEPOSITS:
(1)SAVINGS ACCOUNT
(2)CURRENT ACCOUNT
(3)FIXED DEPOSIT
(4)RECURRING DEPOSIT
KEY POINTS ON THE KINDS OF DEPOSITS:
(1)SAVINGS ACCOUNT:
• USED TO SAVE MONEY
• INTEREST IS PROVIDED ON THE PRINCIPAL AMOUNT CONTAINED IN THE ACCOUNT
• PERIODICAL INTERESTS ARE ACCORDING TO THE RESPECTIVE BANK NORMS.
(2)CURRENT ACCOUNT:
• CURRENT ACCOUNTS ARE USUALLY MAINTAINED BY BUSINESS MEN.
• INTERESTS ARE CHARGED AS THESE ACCOUNTS ARE MAINTAINED BY THE BANKS

(3)FIXED DEPOSIT:
• FDS ARE USED TO SAVE MONEY .IT’S SIMILAR TO SAVINGS ACCONT, ONLY DIFFERENCE IS THAT FDS ARE USED BY FIXED INCOME PEOPLE AS FIXED DEPOSIT IS REQUIRED TO BE MADE PERIODICALLY.
(4)RECURRING DEPOSITS:
• IT IS AN UNIQUE TERM DEPOSIT OFFERED BY INDIAN BANKS
• IT’S AN INVESTMENT TOOL WHICH ALLOWS PEOPLE TO MAKE DEPOSITS REGULARLY AND EARN DECENT RETURNS.