Bank Exams Exam > Bank Exams Videos > SBI PO Prelims & Mains Preparation > Types of Accounts & Loans
Types of Accounts & Loans Video Lecture | SBI PO Prelims & Mains Preparation - Bank Exams
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FAQs on Types of Accounts & Loans Video Lecture - SBI PO Prelims & Mains Preparation - Bank Exams
| 1. What are the different types of accounts provided in banking exams? |  |
Ans. The different types of accounts provided in banking exams include savings accounts, current accounts, fixed deposit accounts, recurring deposit accounts, and NRI accounts.
| 2. What is a savings account? | |
Ans. A savings account is a type of bank account where individuals can deposit and withdraw money while earning a certain amount of interest on their deposits. It is typically used for personal savings and day-to-day transactions.
| 3. What is a current account? | |
Ans. A current account is a type of bank account that is primarily used for business transactions. It allows for unlimited withdrawals and deposits, and often provides facilities such as overdrafts and checkbooks. Unlike savings accounts, current accounts do not typically earn interest on deposits.
| 4. What is a fixed deposit account? | |
Ans. A fixed deposit account, also known as a term deposit, is a type of account where individuals deposit a fixed amount of money for a fixed period of time. The deposited amount earns a predetermined rate of interest, and the funds cannot be withdrawn before the maturity date without incurring penalties.
| 5. What is an NRI account? | |
Ans. An NRI account, or Non-Resident Indian account, is a type of bank account designed for Indians living abroad. It allows NRIs to manage their finances in India, and comes in various forms such as NRE (Non-Resident External) accounts and NRO (Non-Resident Ordinary) accounts. These accounts have specific features and benefits tailored to the needs of NRIs.
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Nov 22, 2024 Last updated |
Video Description: Types of Accounts & Loans for Bank Exams 2024 is part of SBI PO Prelims & Mains Preparation preparation.
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