are in the sector of accounting. Today we will discuss about how many types of accounts are in bank.
There are 4 types of accounts in a bank.-
1) Current Account -
2) Savings Account -
3) Recurring Deposit Account -
4) Fixed Deposit Account
1-Current account-The current account is mainly for entrepreneurship, firm, company etc. In which accounts there is a lot of money flows. many means ... that Lakhs of rupees comes in their accounts and are taken away. So such people keep their money in the current account. Such rich people or firms have no interest in investing or getting interest in their money. The advantage of the current account is that there is no limit to the deposit or withdrawal. The holder does not get interest in the current account. Yes, the bank charges the service charge from them.
2- Savings Account
Only by name is that saving account is made to save the money. People like us want to get interest on our deposited money and withdraw the least money from my account. Save as much as you can. Any person, whether he works in a company, a government servant, a pensioner, a student . He can open his account in a savings account.
Like I said, the holder gets an interest on the money deposited in the savings account. Holders of Savings Account can withdraw their deposits from the bank anytime. There is some restrictions in the number of withdrawal money but no restrictions in the number of money deposited. Like you cannot withdraw money less than 50 or withdraw money from ATM for more than 30 times within 6 months. Like any current account, you can never remove ... anyway, anywhere, anywhere. Most banks force their client to maintain the minimum amount in their account.
3- Recurring Deposit Account
In the Recurring Deposit Account or RD account, those people want to open such account who want to deposit a certain amount of money regularly so that they get interest at a higher rate. In the RD account, a particular amount is deposited every month for a fixed period and after the expiry of the fixed period, the total amount is paid with the interest. The minimum deposit period is 1 year and maximum of 10 years. The rate of interest is different in different plans depending on the amount of deposited money and deposits. Just like you are depositing 10 thousand every month, you will get more interest ... compared to what? The person who is depositing only 4 thousand rupees every month will get low interest. If you are going to deposit money for a longer period then you will get more interest and lower interest for short period. There is no facility to withdraw money in the RD account prematurely. By the way, the bank may allow it to close before maturity (before the expiry of the account). Single or joint account can be opened in the recurring deposit account.
4- Fixed Deposit Account
A special amount is kept in the fixed deposit account or FD account for a specific period. Only one can deposit money here and can only be removed once. Like the RD account, you can not withdraw money ahead of time with this account.
You have to pay a penalty for withdrawing money before the fixed period (the penalty amount determined by each bank is different) and the account is closed forever. High interest rates are given to the consumer in fixed deposit. Interest rate is fixed on the basis of deposited money and the deposit period which can be up to a maximum of 10 years.
No comments:
Post a Comment