Deposits
Content
Types of Deposits Accounts
• • • • • Demand Deposit Term Deposit Recurring Deposit Saving Deposit Current Account
Demand Deposit
Here money is not deposited for a specific time period. Investor can withdraw money at any time. Bank is responsible to return the money on customer’s demand. This account allows you to demand your money at any time.
Term Deposit
• Money is deposited for a fixed period of time. • It is also called Fixed Deposit. • Investor can withdraw the money only after the time period. • Premature withdrawals are also allowed by paying a penalty. • Interest is calculated on monthly, quarterly or yearly depends on the bank and scheme. • Many banks offer loan or overdraft facility as an added features with fixed deposits. • Term deposit is a safe investment • it is therefore a very good option for conservative, lowrisk investors.
Recurring Deposit
• This is another type of fixed deposit. • Investor pay a small amount every month for a specific time period. • he will get the principle with interest accumulated. • A Recurring Bank Deposit is a good option for regular savings.
Saving Account
• This is a kind of demand deposit. • Limited number of withdrawals during any specific period. • Savings Accounts provides principal security and a modest interest rate. • Now banks also put some restriction on the minimum balance.
Saving Account
• If customer don’t maintain the minimum balance customer has to pay a penalty.Now saving account comes with many features like ATM and Debit Card, Cheque Book, Free Internet Banking with Bill Pay, Fund Transfer, Prepaid mobile charging, Free Telephone Banking etc.
Saving Account
• Now saving account comes with many features like ATM and Debit Card, Cheque Book, Free Internet Banking with Bill Pay, Fund Transfer, Prepaid mobile charging, Free Telephone Banking etc.
Current Account
• This is another kind of demands deposit like saving account with unlimited withdrawals. • There are many different Current Accounts available now a days. • From specialist young person’s bank accounts to Current Accounts (with overdraft), Cheque Accounts, Basic Bank Accounts, Student Accounts, Graduate Accounts, Foreign Currency Accounts and Current Accounts with special offers.
• • • • • Demand Deposit Term Deposit Recurring Deposit Saving Deposit Current Account
Demand Deposit
Here money is not deposited for a specific time period. Investor can withdraw money at any time. Bank is responsible to return the money on customer’s demand. This account allows you to demand your money at any time.
Term Deposit
• Money is deposited for a fixed period of time. • It is also called Fixed Deposit. • Investor can withdraw the money only after the time period. • Premature withdrawals are also allowed by paying a penalty. • Interest is calculated on monthly, quarterly or yearly depends on the bank and scheme. • Many banks offer loan or overdraft facility as an added features with fixed deposits. • Term deposit is a safe investment • it is therefore a very good option for conservative, lowrisk investors.
Recurring Deposit
• This is another type of fixed deposit. • Investor pay a small amount every month for a specific time period. • he will get the principle with interest accumulated. • A Recurring Bank Deposit is a good option for regular savings.
Saving Account
• This is a kind of demand deposit. • Limited number of withdrawals during any specific period. • Savings Accounts provides principal security and a modest interest rate. • Now banks also put some restriction on the minimum balance.
Saving Account
• If customer don’t maintain the minimum balance customer has to pay a penalty.Now saving account comes with many features like ATM and Debit Card, Cheque Book, Free Internet Banking with Bill Pay, Fund Transfer, Prepaid mobile charging, Free Telephone Banking etc.
Saving Account
• Now saving account comes with many features like ATM and Debit Card, Cheque Book, Free Internet Banking with Bill Pay, Fund Transfer, Prepaid mobile charging, Free Telephone Banking etc.
Current Account
• This is another kind of demands deposit like saving account with unlimited withdrawals. • There are many different Current Accounts available now a days. • From specialist young person’s bank accounts to Current Accounts (with overdraft), Cheque Accounts, Basic Bank Accounts, Student Accounts, Graduate Accounts, Foreign Currency Accounts and Current Accounts with special offers.
