0
Every financial institution has different policies for their accounts. Most often to open up a reoccurring deposit account, you would open a regular savings or checking and fill out a reoccurring transfer or direct deposit form to start the deposits.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is the minimum deposit to open a savings account with SunTrust?
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.
What is the procedure to open a bank account in India?
how much money do i need to open a saving account
What are thebasic requirements for a fixed deposit account?
The basic requirements for opening a fixed deposit account are: a. Amount to deposit b. Existing relation with bank (You need to hold some sort of account with the bank. Else, you will be asked to open one) c. Source/Proof of legal income If you have these, any bank will be willing to open an fixed deposit account for you.
Where can one find a cheap deposit account?
Someone can find a cheap deposit account at a local bank that does not charge you very much to open a deposit account with them, or just spending no money and keeping your money yourself.
How much the initial deposit to open a savings account at bpi family savings account?
1000
Can a company open a recurring deposit account?
yes
What is a procedure of opening fixed deposit?
Visit the bank where you want to make the deposit. If you have an account with the bank then it is easier to open the account. Else you may have to provide an address and identity proof. The bank would want you to fill in a deposit form with the details of the amount you want to deposit and the duration. Once you do that and pay the cash to the teller, you are done.
How can you open a recurring bank account?
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. You can open a RD account by visiting any bank and filling up the form that is used for opening an RD and pay the first months money to the bank teller.
Can I get a direct deposit even if my account got closed?
no you have to have an open account
How do you open a bank account to deposit a account payee cheque?
by opening a/c only can deposit n withdraw money
Is it legal to check your credit to open an account with a bank?
Yes, it is perfectly legal to check your credit score before opening an account with a bank. The bank themselves would run a credit check on you before finalizing the account opening procedure. However a good credit score is not mandatory to open a deposit account.
What is the minimum deposit to open a savings account with SunTrust?
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.
What is the procedure to open a bank account in India?
how much money do i need to open a saving account
How do you open a checking account?
You go to your bank of choice and tell them that you want to open a checking account. You'll need a deposit. Banks vary on the amount of a deposit needed to open an account. Banks offer different kinds of checking accounts too.
What are thebasic requirements for a fixed deposit account?
The basic requirements for opening a fixed deposit account are: a. Amount to deposit b. Existing relation with bank (You need to hold some sort of account with the bank. Else, you will be asked to open one) c. Source/Proof of legal income If you have these, any bank will be willing to open an fixed deposit account for you.
How Does Recurring Deposit Account Works?
A normal fixed deposit means that you put in an amount and, after a specific period of time, you can withdraw it. Meanwhile, you do not touch the money or add to it. A recurring deposit works on a similar principle. The difference is, instead of putting in a bulk amount, you put in a specified amount (which you decide when you open your recurring account) every month. This could be a small amount that will not pinch your pocket or hinder your lifestyle. At the end of the tenure, you get a nice amount. Starting amount: Rs 1,000. Tenure of deposit: 3 years (36 months). Every month, you put in Rs 1,000. Rate of interest: 5% per annum compounded annually. After three years, you will get Rs 40,005 on maturity. A neat sum once you realise that all you did was sacrifice Rs 1,000 every month. All you have to do is give your bank standing instructions that, on a particular date every month (the date after your salary is credited to your account), a fixed amount from your savings account must get automatically credited to your recurring deposit account.
Where can one find a cheap deposit account?
Someone can find a cheap deposit account at a local bank that does not charge you very much to open a deposit account with them, or just spending no money and keeping your money yourself.
