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Can you convert your seving account money into short term fixed diposit with sbi?
Wiki User
∙ 10y ago
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.
Wiki User
∙ 10y ago
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What are the types of deposits in SBI bank?
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 is MOD account with State Bank of India?
AAn acoount of which even some bank managers are not clear .If you withdraw a part ,will it be breaking of your term deposit or a simply withdrawl from your account ,the remaining amount will earn the same rate of as it was fixed at the time of making MOD.
Types of deposits?
The four types of deposits are: Recurring, Fixed, Savings and Current Savings. Deposits refer to the summary or total of the money kept or place in a bank account.
What is a fixed pully?
a fixed pulley is a pulley that stays at one place to pick up an object. A clothes hanger is a fixed pulley.....this is all i know good luck...
What is the current interest in Indian overseas bank?
It depends on the type of account you wish to open with them a. Current account - 0% b. Savings account - 3.5% c. Fixed Deposits - 3% to 9% depending on the amount and tenure of deposit. Usually longer deposits have a higher rate of interest.
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed?
Net Fixed Assets is the term used for the difference between the balance of a fixed asset account and the related accumulated depreciation.
What are the functions of Habib Bank Ltd?
saving account fixed account current account
What is the journal entry for lost of fixed assets?
debit loss of assetcredit fixed asset account
How do you withdraw from a fixed deposit account?
You cannot withdraw from a fixed deposit account without cancelling the note, which will likely incur a cancellation fee...
What are the types of deposits in SBI bank?
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.
How fixed diposit and recurring deposit is deffrent from saving account?
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 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. 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.
How do you write a letter to bank manager for closing fixed deposit?
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 *****
Is petty cash a fixed cost?
No, petty cash is a control account not an expenditure account.
What is the meaning of fixed account?
I wasn't sure about this question, so I hope that I changed it to clarify a few things. The original question being meaning of "fix" account, assuming you mean "fixed" account. A fixed account (Fixed Assets) refer to asset accounts that are stable, or "fixed", meaning not easily turned into cash. Fixed assets go under Property, Plant & Equipment (PP&E). These include, Property owned by the company, Plant (buildings, etc), Equipment used in the business, hence the term PP&E.
What are different types of bank accounts?
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
Are Fixed Deposits Bought?
No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
How can you close a fixed deposit account?
In order to close a fixed deposit account, one must contact their financial advisor and request the required form to close an account, and upon filling it out, it must be turned into the local teller.
