1. Meaning ↓
In fixed deposit, a fixed amount of coin is deposited for a fixed period.
Current concern human relationship is operated past times businessmen in addition to others who accept to produce regular concern transactions.
2. Purpose ↓
The primary role of fixed deposit is to earn higher involvement charge per unit of measurement in addition to larn a lump amount amount on maturity.
The primary role of electrical current concern human relationship is to facilitate regular transactions.
3. Who Operates?
Fixed deposit is operated past times those individuals in addition to organisations who accept excess or surplus or idle money.
Current concern human relationship is operated past times businessmen in addition to other organisations to facilitate their regular transactions.
4. Interest ↓
The involvement paid on fixed deposit is high. At introduce it is close 10% p.a. for a 1 yr deposit.
No involvement is paid on electrical current accounts.
5. Period ↓
Fixed deposit is maintained for a fixed period. It tin laissez passer on notice travel likewise farther renewed.
The electrical current concern human relationship is of a continuous nature. It tin laissez passer on notice travel operated for whatever divulge of years.
6. Withdrawals ↓
On Fixed deposit, withdrawals are non allowed.
On Current account, at that spot are no restrictions on withdrawals.
7. Overdraft facility ↓
The fixed deposit holders don't larn overdraft facility.
Banks provides overdraft facility to the electrical current concern human relationship holders.
8. Bank Charges ↓
In representative of fixed deposit, the banking firm does non accuse for their services.
In representative of Current account, the banking firm may accuse a nominal amount for its services.
9. Cheque Book ↓
The fixed deposit holders produce non larn a banking firm gibe book. They larn a fixed deposit receipt.
The electrical current concern human relationship holders larn a banking firm gibe facility for withdrawals.
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