1. Meaning ↓
blogspot.com//search?q=saving-account-bank-meaning-features">Saving account is a depository fiscal establishment trouble organization human relationship which is opened past times persons inwards social club to salve a role of their income.
blogspot.com//search?q=saving-account-bank-meaning-features">Fixed Deposit (FD) trouble organization human relationship is that type of trouble organization human relationship where a fixed total of coin is deposited for a fixed period.
2. Purpose for Depositors ↓
The primary purpose of savings trouble organization human relationship is to salve a role of the income.
The primary purpose of fixed deposit trouble organization human relationship is to larn a lump total amount on the maturity of the deposit.
3. Who Operates?
Saving trouble organization human relationship is operated past times individuals such as, salary earners, minor traders in addition to others.
Fixed Deposit is operated past times those individuals in addition to organisations who convey surplus / excess or idle money.
4. Rate of Interest ↓
The saving trouble organization human relationship earns a nominal charge per unit of measurement of interest. At introduce it is near 5% p.a. (in India).
The charge per unit of measurement of involvement is quite high. The longer the menses of deposit, the higher is the charge per unit of measurement of interest. At introduce it is near 10% p.a. (in India).
5. Period / Duration ↓
The savings trouble organization human relationship is of continuous nature. It tin hold upwards operated for whatever pose out of years.
The amount tin hold upwards kept for a fixed period, subsequently which the amount is repaid to the depositor alongwith accrued Interest.
6. Minimum Amount ↓
The savings trouble organization human relationship tin hold upwards operated alongside lesser amount.
To opened upwards a fixed deposit trouble organization human relationship to a greater extent than amount is required.
7. Withdrawals ↓
In illustration od saving account, withdrawals are allowed exactly are dependent champaign to for certain restrictions.
In illustration of fixed deposit account, withdrawals are non permitted until the locomote past times away of the fixed period.
8. Loan Facility ↓
The depository fiscal establishment does non unremarkably render a loan facility to saving trouble organization human relationship holders.
The fixed deposit trouble organization human relationship holders tin larn a loan facility to the extent of 75% of the fixed deposit amount.
9. Pass Book in addition to FD Receipt ↓
Bank provides a locomote past times book, a represent majority in addition to a pay-in-slip majority to the saving trouble organization human relationship holders.
The depository fiscal establishment gives a fixed deposit receipt to the FD trouble organization human relationship holders.
10. Frequency of Deposits ↓
In saving account, amount tin hold upwards deposited for whatever pose out of times.
In fixed deposit account, amount is deposited once. However, it tin hold upwards renewed.
