There are several different types of deposit accounts including current accounts, savings accounts, call deposit accounts, money market accounts, and certificates of deposit (CDs).
Types of Deposits
Ans. The different types of bank accounts are – Savings Account, Current Account, Recurring Deposit Account, Fixed Deposit Account, DEMAT Account, NRI Account.
Primarily, banks offer two kinds of deposit accounts. These are demand deposits like current/saving account and term deposits like fixed or recurring deposits. When you open a deposit account in a bank, you become an account holder or a depositor.
Various Types of Bank Accounts
While there are several different types of savings accounts, the three most common are the deposit account, the money market account, and the certificate of deposit.
Generally, you'll use your debit card and PIN to access your account, then select which account to deposit to. Some ATMs read and count the bills as you insert them, while others require you to enclose cash in an envelope (a bank employee will count the amount later). The ATM should indicate which method you'll use.
An example of a Real Account is a Bank Account. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. An example of a Personal Account is a Creditor Account. ... An example of a Nominal Account is an Interest Account.
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You can walk into a bank branch and hand cash or checks to a teller, who will credit the funds to your account. For added convenience, you can also do so at some deposit-enabled ATMs.
There are two types of deposit accounts that you can open in a bank. They are time deposits and demand deposits.
There are several different types of deposit accounts including current accounts, savings accounts, call deposit accounts, money market accounts, and certificates of deposit (CDs).
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