Basis of
Difference

Current Account

Fixed Deposit Account

Meaning

It is that
account which is maintained by businessman and others who have regular
transaction.

It is that
account where a fixed sum of money is deposited for a fixed period.

Withdrawals

Customers
can withdraw money by cheques.

Customers
cannot with draw during the fixed period. If withdrawn earlier, rate of
interest will be less than applicable.

Facilities

The bank
gives a passbook, cheque book, statement of account and payinslip book to
the customers.

The bank
gives a fixed deposit receipt to the customers

Who takes
it

It is
suitable for traders, businessmen, firms or institutions.

It is
suitable for any person with temporary idle cash.

Constraints
on operation and withdrawals

There are no
restrictions on the operation of a current account as long as there is
balance in the account.

Payment is
received only on expiry of the fixed period. If withdrawn earlier, rate of
interest will be less than applicable

Rate of
interest

Normally,
interest is not given.

Interest
rate is higher. Longer the period, higher will be the rate of interest.

Nature of
Account

It is of
continuous nature.

90% of
the amount of fixed deposit can be given as loan.

Facilities

Temporary
overdraft facility is given

It is for
fixed period of time except when the fixed deposits receipt renewed.

[SSC BOARD PAPERS] [HSC BOARD PAPERS] ENGLISH (SSC) ENGLISH (HSC) ACCOUNTS OCM ECONOMICS SP SCIENCE MATHS I (ALGEBRA) MATHS II (GEOMETRY) HISTORY GEOGRAPHY POLITICAL ECONOMICS ICT HSC MATHS GRAMMAR PHYSICS CHEMISTRY BIOLOGY COMPUTER SCIENCE
Current Account and Fixed Deposit Account
Subscribe to:
Post Comments (Atom)
OMTEX VIDEOS PLAYLIST
MATHS PART ONE SSC 10TH STANDARD VIDEO MAHARASHTRA ENGLISH MEDIUM
EXPLANATION IN HINDI 16 GB MEMORY CARD
INSERT AND WATCH VIDEOS IN YOUR MOBILE
CHAPTERS COVERED
1. LINEAR EQUATIONS IN TWO VARIABLES
2. QUADRATIC EQUATIONS
3. ARITHMETIC PROGRESSION
4. FINANCIAL PLANNING
5. PROBABILITY
6. STATISTICS
VIDEO LECTURES OF (MATHS I) SSC NEW SYLLABUS.
Linear Equations in Two Variables