Explain the types of Various Bank Accounts and procedure to opening an account in abank.
Demand Deposits: it alludes to stores got by broker, repayable on request for example clients pull out
when they need.
Following can be request stores:
•
Investment funds Ledger
•
Current Record
Term Deposit: Store acknowledged by Bank which is repayable solely after a proper timeframe.
•
Fixed Store Record
•
Repeating Store Record
Process of account opening
•
Application in a recommended structure
•
Recognizable proof of the client
•
Photo of record holder
•
Example marks
•
Address of record holder
•
Opening of record
•
Issue of actually look at book
•
Issue of pass book
•
Issue of pay in slip and withdrawal structures
•
Selection