how many types of account in bank are there

All banks provide the facility of opening many types of accounts to their customers. Any person can easily open any type of account in any bank and can avail the benefits provided by the bank. Let us try to know through this article how many types of accounts do banks provide to their customers? That is, how many types of accounts are opened in the bank?

How many types of accounts are there in bank

There are mainly four types of accounts in the bank, which every bank customer gets the facility to open:-

Saving Deposit Accounts

This type of account in banks is for those people who want to keep the money saved after household expenses in the bank and get interest on their deposited money from the bank. Most of the common people have savings deposit accounts in banks. For which the bank gives annual interest to the account holder, and along with it also provides facilities like check book, ATM card, mobile banking, net banking.

Current Deposit Account

Current accounts in banks are mainly maintained by businessmen or small and big organizations. The bank does not give any kind of interest to the current account holders, but does not impose any kind of restriction on daily deposit withdrawal for this type of account. Like savings deposit account of banks, current account also has facilities like ATM card, check book, net banking.

how many types of account in bank are there

Fixed Deposit Account

Fixed deposit account in banks which is a type of fixed deposit account. Banks offer people to deposit a fixed amount for a fixed period of time in this type of account, because compared to other accounts, the bank gives the highest interest on fixed amount in fixed deposit account.

Recurring Deposit Account

Recurring deposit account in banks is a type of account in which small amounts can be deposited for a fixed period of time, and interest can be availed like Fixed Deposit Account.

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