Write about the different of deposits in commercial banks and their f

1.	Write about the different of deposits in commercial banks and their features.
Answer» Deposits are of mainly four types savings deposits. Ant one can open on account any amount can be deposited and withdraw comparatively low interest. Current deposit: This deposits facility depositing and withdrawing many times in a day. Used mainly by traders and industrialists. No interest. Fixed deposit: Ideal for depositing money for a fixed period. Comparatively high interest. Recurring deposit: A specific amount is deposited every month for a fixed period of time. Receives high rate of interest.

Write about the different of deposits in commercial banks and their features.

Answer»

Deposits are of mainly four types savings deposits. Ant one can open on account any amount can be deposited and withdraw comparatively low interest.

Current deposit: This deposits facility depositing and withdrawing many times in a day. Used mainly by traders and industrialists. No interest.

Fixed deposit: Ideal for depositing money for a fixed period. Comparatively high interest.

Recurring deposit: A specific amount is deposited every month for a fixed period of time. Receives high rate of interest.

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