Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
I want letter for bank fixed deposit
It IS a crime to write a check with no funds on deposit with intention to deceive.
how to calculate Recurring deposit interest ?
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 *****
Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
what is the disadvantages of fixed deposit
A fixed deposit in the name of a firm is not a fixed asset.
Not all banks give flexible fixed deposit schemes. These usually depends on the bank managing them. Most fixed deposit are actually fixed in nature and you are not supposed to withdraw any funds that account. However recently most banks have started withdrawal from such account at the cost of a penalty fee to be levied at the time of withdrawal.
Yes, you can. SBI offers short term fixed deposits starting with as low as Rs. 1000/- and for durations as short as one month. So, you can easily get a short term fixed deposit opened with the money you have in your savings account. You need to visit your bank and then fill up the form to open the deposit. In the source of funds section, you can mention your account number and suggest that the bank debits your account to start the fixed deposit. The bank will be happy to oblige as long as you have funds in your account.
fixed deposit A/c dr. to int on fixed deposit
I want letter for bank fixed deposit
It IS a crime to write a check with no funds on deposit with intention to deceive.
fixed deposit has its fixed term, but debenture does not have any term. fixed deposit can be invested in eqty,debt or any other , but the debenture is debt only.
how to calculate Recurring deposit interest ?
Yes, your money is typically harder to access in a CD (Certificate of Deposit) account compared to a Money Market account. CDs have a fixed term, such as 6 months or 1 year, during which you cannot withdraw your money without facing penalties. On the other hand, money market accounts allow for more flexibility and immediate access to your funds.
fixed deposit