ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Depository services include checking and savings accounts, and transfer of funds (e-payments through online banking or debit cards). A number of regulations affect the rules governing these services and protect your rights to receive timely information about fees and interest paid.

Detailed explanation-2: -All credit unions offer savings accounts, or time deposits; the larger institutions also offer checking and money market accounts.

Detailed explanation-3: -Commercial banks are the most popular forms of depository institutions you will encounter. In addition to checking and savings, most will offer loans or lines of credit.

Detailed explanation-4: -Checking account: A checking account offers easy access to your money for your daily transactional needs and helps keep your cash secure. Savings account: A savings account allows you to accumulate interest on funds you’ve saved for future needs. More items