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1. Savings account - These are the simplest of deposits. You deposit money into your account and you can withdraw it anytime. There would be a small limitation on the number of times you can withdraw money from your account. The money in SB accounts earn an interest of around 3.5% per year 2. Current account - These are similar to Savings accounts with two small differences. One is, the money in a current account does not earn interest and two is, you can withdraw any number of times. This account is for business people who would have high number of transactions in one single day. 3. Fixed Deposit - This is a deposit product where you deposit a certain sum of money with the bank for a specific duration of time. As per the deposit agreement you are expected to let the money be with the bank based on the deposit tenure. Hence the interest offered on such deposits is higher than normal deposits. Also you will attract a penalty charge for pre-closing such deposits 4. Recurring Deposits - These are similar to fixed deposits with a differenc e being, you deposit a small amount of money every month into this account for a specified duration of time and the bank would compound the interest every month and pay you in lump at the end of the tenure.
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Can you deposit quarters at the bank?
yes you can deposit quarters at the bank
What is a bank's reserve-to-deposit ratio?
this is the amount of deposit the central bank authorise bank to keep them
How do you write letter for bank fixed deposit?
I want letter for bank fixed deposit
Where can you find certificates of deposit?
The bank will give you one every time you make a deposit, if you need a copy of your deposit then talk to your bank. They keep all deposit slips on file for you to have.
Klein Bank deposits and the fee.?
According to Klein Bank's policies in regards to direct deposit, you can use a direct deposit on your account. Also, there is no direct deposit fee for Klein Bank.
What are the different types of bank account in world?
Some different types of bank accounts available are:Savings accountChecking accountFixed Deposit accountRecurring Deposit accountMoney market accountLoan Accountetc
What types of accounts are offered at Bangkok Bank?
There are many types of account which you can open via the Bangkok Bank. Some are Savings accounts, Current accounts, Deposit account and Fixed Deposit account.
What are the different types of accounts in Andhra bank?
Andhra Bank offers many different types of accounts to its customers. Some of them are:Savings AccountChecking AccountLoan AccountFixed Deposit AccountRecurring Deposit AccountOver-Draft AccountCredit Card AccountEtc.
Can you deposit quarters at the bank?
yes you can deposit quarters at the bank
What are the different types of bank accounts?
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.
What are the types of account in a bank?
Banks offer many different types of accounts to its customers. Some of them are:Savings AccountChecking AccountLoan AccountFixed Deposit AccountRecurring Deposit AccountOver-Draft AccountCredit Card AccountEtc.
Is bank account an a bank deposit account the same?
No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your account. They are two different things but they are related.
What is a bank's reserve-to-deposit ratio?
this is the amount of deposit the central bank authorise bank to keep them
What is the verb for deposit?
Deposit is both a noun and a verb. She made a deposit at the bank. (noun) She was able to deposit the money at the bank. (verb)
What is the purpose of a deposit slip?
A deposit slip is a printed form which accompanies bank deposits. The depositor fills out the deposit slip to indicate what types of funds are being deposited and which accounts they should be deposited into. In some cases, a bank will pre-print deposit slips with account information and include them in a checkbook. Deposit slips are used by a bank to keep track of the money deposited over the course of a business day, and to ensure that no funds slip through the cracks. For bank clients, a deposit slip offers a form of protection, indicating that funds were counted and accepted by the bank. If the deposit is processed improperly, the deposit slip will provide a paper trail.
What is the journal entry for cash deposit for Fixed deposit in bank?
debit bank accountcredit cash / bank
How do you deposit money in an account?
you can deposit at the bank
