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Thursday, July 4, 2013

Knowledge Bytes- Types of Bank Accounts in India

Types of accounts in India
A bank account is a financial account between a bank customer and a financial institution.
What are different types of bank accounts present in India?
Types of accounts
     Deposit account
        Checking account
        Current account
        Personal account
        Transaction deposit
        Demat account

    Savings Account
        Individual Savings Account
        Time deposit / certificate of deposit
        Tax-Exempt Special Savings Account
        Tax-Free Savings Account
        Money market account

    Other accounts
        Loan account
        Joint account
        Low-cost account
        Nostro and vostro accounts
        Numbered bank account
        Negotiable Order of Withdrawal account

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