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How saving account is different from recurring and fixed deposit?
Wiki User
∙ 13y ago
Savings Account: A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Recurring Deposit: A Recurring Deposit account is one in which the customer deposits a small sum of money (usually a few hundred or thousands) every month. The bank accepts a deposit every month and at the end of the deposit period (usually 12 months or higher) the bank would return the money deposited with them along with a good interest.
Fixed Deposit: A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
Wiki User
∙ 13y ago
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Letter format for recurring deposit installment complete so transfer this money in saving account?
Letter format for recurring deposit installment to from saving account
What are the different types of fixings?
Recurring deposits, fixed deposit, saving deposit
What are the types of deposits in SBI bank?
State Bank of India offers different types of accounts. They are: a. Savings Account b. Current Account c. Fixed Deposit Account d. Recurring Deposit Account e. Senior Citizen Deposit Account f. Senior Citizen Pension Account g. Etc.
Post office saving scheme recurring deposit maturity chart?
25000
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
What are the types of bank accounts in Pakistan?
1.fixed deposit account 2.saving account 3.current account 4.home saving account 5.family saving account
How do you write a letter to bank manager for closing fixed deposit?
To Manager Subject: Closing Fixed deposit account. This is to inform you that, My Fixed deposit will mature on 01/12/2012, Kindly request you to transfer the fixed deposit to my Saving account, details are mention below. Name: Saving bank account: your faithfully *****
What is a saving deposit slip?
A deposit slip issued by your bank for depositing money or checks into your savings account.
What is my balance?
what is my recent deposit and balance on checking account elcantante i need my saving account balance
How much cash can you deposit in your saving account?
In Indian Currency you can deposit Rs.39,999.00 without a PAN card.
What amount you deposit into a saving account could be insured by the federal deposit insurance corporation up to what amount?
$250.00
What is the Difference between saving bank rate and Deposit rate?
deposit rate interest rate paid by the depository institution on the cash on deposit where as saving bank rate is interest paid by the banking institution on saving account holder which is calculated on daily basis and credited to customer account quaterly or semi annually.
