A Fixed Deposit 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
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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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
Business deposit accounts are also known as business savings account where one can deposit an amount of money as savings for one's business. Most savings accounts will also offer interest rates.
A merchant bank account is an account that allows customers to pay for purchases with their debit or credit card. A regular bank account is a typical checking or savings account which allows someone to deposit money into or withdraw.
Yes
money in a savings account
I believe you are thinking of a certificate of deposit.
In normal savings account, you deposit Indian money (rupee) and you can withdraw it in the same indian money. In nre account you can only deposit foreign currency and you withdraw indian currency. you cant deposit indian money in this account
In a regular savings account, the funds are always available for withdrawl. As a result, savings accounts generally have a low rate of interest. A certificate of deposit is an investment for a specific amount of time. The funds are not available until the certificate has matured, therefore, it has a slightly higher rate of interest than a savings account.
savings account earns interest.
no
A business savings account his connected to a business. While a personal savings account is connected to an indvidual.
1000
It have a variety of deposit account, such as check account, savings and time deposit
The minimum deposit required in order to open a savings account with Sun Trust in one hundred dollars and with this you can start your own savings account with Sun Trust.
Business deposit accounts are also known as business savings account where one can deposit an amount of money as savings for one's business. Most savings accounts will also offer interest rates.
A Balloon payment is a lump sum of principal reduction due at the maturity of the loan. I have no idea how itcompares to a deposit as a deposit is usually a transaction when money is put into a savings/checking account which is a totally different side of the bank...
Money in a savings account is an example of a time deposit.
A merchant bank account is an account that allows customers to pay for purchases with their debit or credit card. A regular bank account is a typical checking or savings account which allows someone to deposit money into or withdraw.