Deposit Accounts Provided by a Bank: 3 Types | Services | Banking

Banks attract money from the public by accepting deposits in the following accounts: 1. Current Account 2. Savings Bank Deposit Account 3. Fixed or Time Deposit Account. Type # 1. Current Account: It is also called 'Open Account' or 'Demand Deposit Account'. A businessman can open a current account with the bank. Customers can deposit money into or withdraw money [...]