Anda di halaman 1dari 4

A bank account is a financial account maintained by a financial institution for a customer.

bank account can be a deposit account, a credit card account, or any other type of account
offered by a financial institution, and represents the funds that a customer has entrusted to the
financial institution and from which the customer can make withdrawals. Alternatively,
accounts may be loan accounts in which case the customer owes money to the financial
The financial transactions which have occurred within a given period of time on a bank
account are reported to the customer on a bank statement and the balance of the accounts at
any point in time is the financial position of the customer with the institution.
The laws of each country specify the manner in which accounts may be opened and operated.
They may specify, for example, who may open an account, how the signatories can identify
themselves, deposit and withdrawal limits and many other matters.

Types of bank account

Deposit account
A deposit account is a savings account,
current account or any other type of
bank account that allows money to be
deposited and withdrawn by the
account holder. These transactions are
recorded on the bank's books, and the
resulting balance is recorded as a
liability for the bank and represents
the amount owed by the bank to the
customer. Some banks may charge a
fee for this service, while others may
pay the customer interest on the funds

Personal account
A personal account is an account for use by an individual for that person's own
needs. It is a relative term to differentiate them from those accounts for
corporate or business use. The term "personal account" may be used generically
for financial accounts at banks and for service accounts such as accounts with
the phone company, or even for e-mail accounts.
Savings account
Saving accounts (UK: savings accounts) are accounts maintained by retail
financial institutions that pay interest but cannot be used directly as money in
the narrow sense of a medium of exchange (for example, by writing a cheque).
These accounts let customers set aside a portion of their liquid assets while
earning a monetary return. For the bank, money in a savings account may not be
callable immediately and, in some jurisdictions, does not incur a reserve
requirement. Cash in the bank's vaults may thus be used, for example, to fund
interest-paying loans.
Time deposit
A time deposit or term deposit (also known as a certificate of deposit in the
United States, is a deposit with a specified period of maturity and earns interest.
[1] It is a money deposit at a banking institution that cannot be withdrawn for a
specific term or period of time (unless a penalty is paid).[citation needed] When
the term is over it can be withdrawn or it can be held for another term. Generally
speaking, the longer the term the better the yield on the money. In its strict
sense, certificate deposit is different from that of time deposit in terms of its
negotiability: CDs are negotiable and can be rediscounted when the holder needs
some liquidity, while time deposits must be kept until maturity.

The opposite, sometimes known as a sight deposit or "on call" deposit, can be
withdrawn at any time, without any notice or penalty: e.g., money deposited in a
checking account in a bank.

The rate of return is higher than for savings accounts because the requirement
that the deposit be held for a prespecified term gives the bank the ability to
invest it in a higher-gain financial product class. However, the return on a time
deposit is generally lower than the long-term average of that of investments in
riskier products like stocks or bonds. Some banks offer market-linked time
deposit accounts which offer potentially higher returns while guaranteeing

A time deposit is an interest-bearing bank deposit that has a specified date of

maturity. A deposit of funds in a savings institution is made under an agreement

stipulating that (a) the funds must be kept on deposit for a stated period of time,
or (b) the institution may require a minimum period of notification before a
withdrawal is made.
Fixed deposit
A fixed deposit (FD) is a financial instrument provided by banks which provides
investors with a higher rate of interest than a regular savings account, until the
given maturity date. It may or may not require the creation of a separate
account. It is known as a term deposit or time deposit in Canada, Australia, New
Zealand, and the US, and as a bond in the United Kingdom and India. They are
considered to be very safe investments. Term deposits in India and Pakistan is
used to denote a larger class of investments with varying levels of liquidity. The
defining criteria for a fixed deposit is that the money cannot be withdrawn from
the FD as compared to a recurring deposit or a demand deposit before maturity.
Some banks may offer additional services to FD holders such as loans against FD
certificates at competitive interest rates. It's important to note that banks may
offer lesser interest rates under uncertain economic conditions. The interest rate
varies between 4 and 11 percent.[1] The tenure of an FD can vary from 7, 15 or
45 days to 1.5 years and can be as high as 10 years.[2] These investments are
safer than Post Office Schemes as they are covered by the Deposit Insurance and
Credit Guarantee Corporation (DICGC). However, DICGC guarantees amount up
to 1,00,000 (about ) per depositor per bank.[3] They also offer income tax and
wealth tax benefits.
Money market account
A money market account (MMA) or money market deposit account (MMDA) is a
financial account that pays interest based on current interest rates in the money
Money market accounts typically have a relatively high rate of interest and
require a higher minimum balance (anywhere from $1,000 to $10,000 or
$25,000) to earn interest or avoid monthly fees. Like other bank deposits, they
are liabilities from the bank's perspective. They should not be confused with
money market funds.