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Is the fixed deposit and term deposit same?
Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
What is a sum of money from which a person may withdraw called?
It is called Deposit
What are fixed deposit accounts?
A Fixed deposit account is one in which you deposit a specific amount of money with a bank for a specified duration of time. you cannot withdraw that money before its maturity date. if you do you would have to pay a penalty for doing the same. usually fixed deposits offers us a higher rate of interest than normal bank accounts
What does dda mean in ATM transfer to dda number?
DDA stands for demand deposit account. It is a bank account in which you can deposit and withdraw money. A form of a demand deposit account is a checking account.
How do you write a letter to bank manager for closing fixed deposit?
To Manager Subject: Closing Fixed deposit account. This is to inform you that, My Fixed deposit will mature on 01/12/2012, Kindly request you to transfer the fixed deposit to my Saving account, details are mention below. Name: Saving bank account: your faithfully *****
What is the opposite of the word deposit?
The opposite of "deposit" is "withdraw." Deposit involves putting money into an account or storage, whereas withdraw involves taking money out of an account or storage.
Is the fixed deposit and term deposit same?
Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
Do you get flexible fixed deposits?
Not all banks give flexible fixed deposit schemes. These usually depends on the bank managing them. Most fixed deposit are actually fixed in nature and you are not supposed to withdraw any funds that account. However recently most banks have started withdrawal from such account at the cost of a penalty fee to be levied at the time of withdrawal.
Can a minor on attaining majority withdraw his fixed deposit amount?
no he cant
What is the difference between a normal savings account and nre account?
In normal savings account, you deposit Indian money (rupee) and you can withdraw it in the same indian money. In nre account you can only deposit foreign currency and you withdraw indian currency. you cant deposit indian money in this account
What are the differences between a current and deposit account?
A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate. These are also called Term Deposit accounts or Fixed Deposit accounts.
How do you open a bank account to deposit a account payee cheque?
by opening a/c only can deposit n withdraw money
What is a sum of money from which a person may withdraw called?
It is called Deposit
What are fixed deposit accounts?
A Fixed deposit account is one in which you deposit a specific amount of money with a bank for a specified duration of time. you cannot withdraw that money before its maturity date. if you do you would have to pay a penalty for doing the same. usually fixed deposits offers us a higher rate of interest than normal bank accounts
What does dda mean in ATM transfer to dda number?
DDA stands for demand deposit account. It is a bank account in which you can deposit and withdraw money. A form of a demand deposit account is a checking account.
How do you write a letter to bank manager for closing fixed deposit?
To Manager Subject: Closing Fixed deposit account. This is to inform you that, My Fixed deposit will mature on 01/12/2012, Kindly request you to transfer the fixed deposit to my Saving account, details are mention below. Name: Saving bank account: your faithfully *****
Can you deposit money into an edd account?
No withdraw only
