BANKING GENERAL KNOWLEDGE
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Detailed explanation-1: -Traditionally, there are four types of bank deposits in India, which are-Current Account, Recurring Deposits, Savings Accounts, and Fixed Deposit Accounts. Each type has its advantages.
Detailed explanation-2: -The most common types of bank accounts include: Checking accounts. Savings accounts. Money market accounts (MMAs)
Detailed explanation-3: -Some experts suggest you should have four bank accounts–two checking and two savings. You’ll use one checking account to pay bills and the other for spending money. One savings account will be dedicated to your emergency fund and the other to miscellaneous goals.
Detailed explanation-4: -Within this category, there are three main types of demand deposits: (1) checking accounts, (2) savings accounts, and (3) money market accounts (we will go into these in more detail later).