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Bank Deposits

Deposit insurance

Demand deposits refer to the funds that are deposited in a bank and can be withdrawn by the depositor at their convenience. These deposits typically include the balances in savings and current accounts, as they can be accessed by the account holder at any given moment.

Think of demand deposits as the money that you have readily available in your bank account, which can be used for immediate expenses or withdrawals. These deposits provide a great deal of flexibility and accessibility for individuals and businesses alike. So, next time you make a withdrawal from your savings or current account, remember that you are utilizing your demand deposits.

Recurring Deposit or Cumulative Deposit Account

A bank account that requires a depositor to deposit a fixed amount (in multiples of Rs 5 or Rs 10) every month is known as a recurring deposit account. This deposit is typic...

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Nomination

Account holders often receive requests from banks to make nominations, a process where they select individuals to receive the money in their accounts in case of their passin...

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Repayment

When an investor puts their money into a fixed deposit, the repayment is the return of the original amount invested at the end of the agreed upon time period. This marks the...

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Receipt

A vital document demonstrating an investor's deposit to a bank, known as a certificate of deposit. It provides essential information such as the deposited amount, interest p...

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