Tell about the various accounts in the bank.

There are basically four types of main accounts. They are following-

• Savings Account- This is the basic account for all the public. Any individual can open his or her savings account in a bank.
• Current Account- This account is generally opened on the name of the business. You can open your account in a bank but on your firm’s name.
• Fixed Deposit Account- In this account, a high rate of interest is paid but there is a fixed time period to put your money.
• Recurring Deposit Account- In this bank account, monthly installment process takes place.