TYPES OF BANK ACCOUNTS IN INDIA

SL NOTYPES OF BANK ACCOUNTSREMARKS
1.SAVINGS ACCOUNTA SB A STANDARD DEPOSIT ACCOUNT WHERE YOU CAN SAVE MONEY WHILE EARNING INTEREST ON YOUR DEPOSITS.
2.CURRENT ACCOUNTA CURRENT ACCOUNT IS DESIGNED PRIMARILY FOR BUSINESS OWNERS, TRADERS AND ENTREPRENEURS WHO NEED TO MAKE FREQUENT TRANSACTIONS.
3.FIXED DEPOSIT ACCOUNTACCOUNT ALLOWS YOU TO EARN A HIGHER INTEREST RATE ON A LUMP SUM AMOUNT DEPOSITED FOR A FIXED PERIOD.
4.RECURRING DEPOSIT ACCOUNTACCOUNT ALLOWS YOU TO INVEST A FIXED AMOUNT REGULARLY AND EARN INTEREST ON IT.
5.SALARY ACCOUNTOPENED BY EMPLOYERS FOR THEIR EMPLOYEES TO FACILITATE THE DIRECT CREDIT OF SALARIES.
6.NRI ACCOUNTNRI ACCOUNTS ARE DESIGNED FOR INDIANS LIVING ABROAD, OFFERING VARIOUS OPTIONS TO MANAGE THEIR EARNINGS AND SAVINGS IN INDIA.
7.DEMAT ACCOUNTTHE DEMAT ACCOUNT CONSTITUTES THE SHARES AND SECURITIES HELD IN ELECTRONIC FORM. THE DEMAT ACCOUNT STANDS FOR DEMATERIALIZATION ACCOUNT. SUCH ACCOUNTS ARE MAINTAINED BY TWO DEPOSITORY INSTITUTIONS, THE NATIONAL SECURITIES DEPOSITORY LIMITED AND THE CENTRAL DEPOSITORY SERVICES LIMITED
8.WOMEN’S ACCOUNTA SAVINGS ACCOUNT TAILORED FOR THE WOMAN OF TODAY – ENJOY SPECIAL BENEFITS LIKE PREFERENTIAL PRICING ON PRODUCTS INCLUDING LOANS, OFFERS & CASHBACK ON SHOPPING AND FREE INSURANCE COVER
9.SENIOR CITIZEN ACCOUNTA SENIOR CITIZENS SAVINGS SCHEME (SCSS) ACCOUNT IS A RETIREMENT BENEFIT ACCOUNT THAT IS SUPPORTED BY THE INDIAN GOVERNMENT.INDIAN SENIOR CITIZENS WHO INVEST A LUMP SUM IN THE PLAN, EITHER INDIVIDUALLY OR JOINTLY, CAN TAKE ADVANTAGE OF THE ACCOUNT’S BENEFITS. THE ACCOUNT WILL OFFER INCOME TAX ADVANTAGES IN ADDITION TO ACCESS TO REGULAR INCOME AFTER RETIREMENT. 
10.INSTITUTIONAL SAVINGS ACCOUNTTRUSTS / NGO /INSTITUTIONAL SAVING ACCOUNT ARE TAILORED TO TO SUIT THE SPECIFIC NEED SUCH AS NGO, CLUB, ASSOCIATION,EDUCATIONAL  INSTITUTE , HOSPITALS AND OTHERS TRUSTS.
11.FAMILY SAVINGS ACCOUNTA SAVINGS ACCOUNT SPECIFICALLY DESIGNED FOR YOU AND YOUR FAMILY MEMBERS.  ENJOY MULTIPLE PRIVILEGES AND BENEFITS ALONG WITH GREAT
BANKING EXPERIENCE.

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