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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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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
Checking Accounts are also called as Current Accounts. A checking account is one in which customers keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times.
These are the 4 main types of accounts provided by banks
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What types of accounts does Yorkshire Bank offer?
Yorkshire Bank is a bank that is located in Europe. It offers many different services. The types of accounts that Yorkshire Bank offers are savings accounts and checking accounts.
How many different types of bank accounts do banks offer?
There are four major types of accounts that banks normally offer. It may vary bank to bank what their individual accounts are. The major types of accounts are checking accounts, savings accounts, money market accounts, and time deposits.
What are aims and objectives of opening various types of bank accounts?
a report on procedure are opening vrious types of bank accounts aims and objectives
How many types of accounts in bank?
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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 types of accounts does Yorkshire Bank offer?
Yorkshire Bank is a bank that is located in Europe. It offers many different services. The types of accounts that Yorkshire Bank offers are savings accounts and checking accounts.
What types of bank accounts does Alpine Bank offer?
The Alpine Bank offers many different types of bank accounts including, personal saving accounts, personal checking accounts, Business checking/savings accounts and more.
How many different types of bank accounts do banks offer?
There are four major types of accounts that banks normally offer. It may vary bank to bank what their individual accounts are. The major types of accounts are checking accounts, savings accounts, money market accounts, and time deposits.
What are aims and objectives of opening various types of bank accounts?
a report on procedure are opening vrious types of bank accounts aims and objectives
How many types of accounts in bank?
vv
What are the different types of bank accounts offered by TD?
TD offers several types of bank accounts, including a savings account, a checking account, and others. Further information on bank accounts with TD can be found on their website also.
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 types of accounts are offered from Amegy Bank?
Amegy bank offers checking accounts, saving accounts, interest accounts, business accounts, personal accounts, loans, credit cards, etc. They offer the normal accounts just as any other bank would.
How many types of accounts are there in state bank of India?
hundreds
What types of accounts are offered by National City Bank?
National City Bank offers a wide variety of account types. These include checking accounts, credit cards, debit cards, gift cards, IRAs, and saving accounts.
What types of accounts does the Canadian Imperial Bank of Commerce offer?
Canadian Imperial Bank of Commerce offers accounts such as Checking, Savings and Banking accounts. You can view more information about these services and accounts at the CIBC website.
How many types of banking does Lloyds TSB Bank provide?
Lloyds TSB Bank provides thirteen different types of banking accounts for personal use. It offers four types of business accounts, three different private banking accounts, and one offshore banking account.
