What are different types of accounts you can open in a bank?
What are different types of accounts you can open in a bank?
The correct option is D Recurring Deposit
- In Savings Account you can withdraw or deposit money in the bank anytime. Banks also provide some interest on the money. However, the number of transactions in this account are limited.
- In Current Account you can withdraw or deposit money in the bank anytime. Banks don't provide any interest on the money. Also, there is no limitation on number of transactions in this account.
- In Fixed Deposit you can deposit FIXED money for a FIXED duration, one time, and you are not allowed to withdraw the money during that duration. Banks provide more interest in fixed deposit as compared to savings bank account.
- In Recurring Deposit you can deposit money at regular intervals for a FIXED duration and you are not allowed to withdraw the money during that duration. Banks provide more interest in recurring deposit as compared to savings bank account.
Recurring Deposit
- In Savings Account you can withdraw or deposit money in the bank anytime. Banks also provide some interest on the money. However, the number of transactions in this account are limited.
- In Current Account you can withdraw or deposit money in the bank anytime. Banks don't provide any interest on the money. Also, there is no limitation on number of transactions in this account.
- In Fixed Deposit you can deposit FIXED money for a FIXED duration, one time, and you are not allowed to withdraw the money during that duration. Banks provide more interest in fixed deposit as compared to savings bank account.
- In Recurring Deposit you can deposit money at regular intervals for a FIXED duration and you are not allowed to withdraw the money during that duration. Banks provide more interest in recurring deposit as compared to savings bank account.
