Question

Maths Project:
1. Write few lines on different types of accounts. (Pg no - 69)
For std 7th​

Answer 1

Current account. A current account is a deposit account for traders, business owners, and entrepreneurs, who need to make and receive payments more often than others. ...

Savings account. ...

Salary account. ...

Fixed deposit account. ...

Recurring deposit account. ...

NRI accounts.

Answer 2

Step-by-step explanation:

1) Savings Account

As the name suggests, the savings accounts can be opened by an individual or jointly by two people with an aim to save money.

2) Current Account

The second type of bank account is the current bank account. These accounts are not used for the purpose of savings.

3) Recurring Deposit Account

Recurring Deposit account or RD account is a form of account wherein the account holder needs to deposit a fixed amount every month until it reaches the fixed maturity date.

4) Fixed Deposit Account

FD or a fixed deposit account is another type of bank account that can be opened in any Public or Private sector bank.