Question

Different types of a/cs and their features

Answer 1

Current account is mainly for business persons, firms, companies, public enterprises etc and are never used for the purpose of investment or savings.

Savings account is meant for saving purposes. Any individual either single or jointly can open a savings account. 

Recurring deposit account or rd account is opened by those who want to save certain amount of money regularly for a certain period of time and earn a higher interest rate

In Fixes deposit account (also known as FD Account), a particular sum of money is deposited in a bank for specific period of time.