Question

Write down names of different Bank accounts.

Answer 1

Answer:

Basically there are 7 major types of accounts available in Indian Banks. Keeping reading on to know more about it:

• Basic Checking Accounts

• Money Market Accounts

• IRAs (investment retirement accounts)

• Savings Accounts

• Brokerage Accounts

• Interest-Bearing Checking Accounts

• CD’s (Certified Deposit Accounts)

There is a minor difference in facilities and interest rates offered in each of the types mentioned above.

Answer 2

Savings, Current, RD and FD bank accounts

Explanation:

The main categories of bank accounts are:  

1) Savings Account.

2) Current Account.

3) Recurring Deposit Account.

4) Fixed Deposit Account.

However, we do have several other types of bank accounts that are used to cater to special groups of people like NRI accounts, senior citizen account, student account, kids account. These accounts differ from bank to bank and they are customized products designed by specific banks in order to cater to the needs of a particular demography.