CONTENTS MEANING OF DEPOSITS TYPES OF DEPOSITS• Current Deposit• Saving Bank Deposit• Recurring Deposit• Fixed Deposit

DEPOSITSMEANING OF DEPOSITS : A deposit account is a saving account , current account or any other type of bank account that allows money to be deposited and withdrawn by the account holder.

TYPES OF DEPOSITS

CURRENT DEPOSIT “Current Deposit Account” is demand deposit and is meant for business , firms , companies , corporations ,trusts and individuals with no restriction on number of drawl's.

SAVING BANK DEPOSITS

“Saving Bank Deposits” are one of the most popular deposits for Individual accounts.Most of the banks have rules for the maximum number of withdrawals in a period.

RECURRING DEPOSITS They popularly known as “RD account’s” which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.

FIXED DEPOSITS A sum of money given to a bank, financial institution or company whereby the receiving entity pays interests at a specified percentage for the time duration of the deposits . At the end of the time period of the deposits the amount that is originally given is returned to the investor. It is also known as term deposits.