TYPES OF BANK ACCOUNT
Types of Bank Accounts One major aspect of the banking industry is the provision of bank accounts. There are various types of bank accounts which can be opened in any Public or Private sector banks. Given below is the list of bank accounts that we shall be discussing in this article: Savings Account Current Account Recurring Deposit Account Fixed Deposit Account DEMAT Account NRI Account Initially, there were only four types of bank accounts that were operating in India. These included the Current Account, Savings Account, Recurring Deposit Account and Fixed Deposit Account. But later with the advancement in the banking sector, various other types of bank accounts were introduced. Saving 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. The main benefit of opening a savings bank account is that the bank pays you interest for opening this type of account with them. Given below are a few features of t