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Bank accounts
 

Bank accounts

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    Bank accounts Bank accounts Presentation Transcript

    • PRESENTATION
      ON
      KEY FINANCIAL TERMS
      GROUP 3
    • GROUP MEMBERS
      Afaque Siddique
      Bank Account
      Deepika Singh and DilpritSethi
      Insurance
      Deepti Jain and Daya Shankar
      Stock
      ParnitaRawat
      Credit Card
      NehaArora
      Loan
      Rishi and Shubhi
      Conclusion
    • Bank Account
      Bank Account is an intangible services provided by core banks through which one can keep his/her money in banks along with the allied banking services.
    • SAVING ACCOUNT
      Generally meant for saving purpose.
      Small amount of interest is paid. Currently the interest rate on saving account is 3.5% per annum.
      Here interest is paid once in every six months between 10th day and last day of the month.
      Minimum Balance
      Rs 500 with no Cheque Book
      Rs 1000 with Cheque Book
      Certain restrictions are imposed in case of saving account regarding number of transactions within a particular period, withdrawal limits.
    • CURRENT ACCOUNT
      Specially meant for business purposes.
      There is no limit on number of transactions.
      No interest is paid on the balances in current account.
      Overdraft limit is provided In current account.
      Maintenance or service charge is levied by banks in case of current account.
      Minimum Balance
      Individual account in metro Rs 5000
      Individual account in urban area Rs 5000
      Individual account in semi urban area Rs 5000
      Individual account in rural area Rs 2500
      Other accounts in metro Rs 10000
      Other accounts in urban Rs 10000
      Other accounts in semi urban Rs 10000
      Other accounts in rural Rs 5000
    • DMAT ACCOUNT
      It stands for dematerialized account.
      It is meant for share trading.
      It is investment oriented account and not for savings or routine business transactions.
      Majority of banks are providing the service of DMAT account.
      A small fees is charged by banks to DMAT account.
      A statement of transactions is provided in every 3 months.
      PAN card number is a prerequisite to open a DMAT account with a bank.
      No monetary transactions takes place through DMAT account. Only the transactions of shares occurred.
    • Some Other Ancillary Accounts
      No Frill Account.
      Loan Account.
      Salary Account.
      Fixed Deposit Account.
    • No Frill Account.
      It is an account which is solely meant for saving.
      No value added services is provided with this account like cheque book, billing transactions etc.
      It can be open with zero balance.
      This account is specially for rural population of India.
      The suggestion and guidelines for no frill account was given by RBI in 2007.
      It was first implemented and executed by CANARA BANK in its rural branches in the state of Karnataka in the year 2009.
    • Loan Account
      An account, opened for a customer by a bank, following the granting of a loan. The amount of the loan is credited to the customers current account and similarly debited to the loan account.
      Examples Of Loan Account.
      CorpVidya Account by Corporation Bank for Education loan.
      GyanJyoti Account by State Bank for Education loan.
      Accounts for Housing loans, Personal loans and Car loans etc.
    • Some Statistics Of Bank Accounts
      Total number of Saving accounts in India
      610.3 Million
      Total number of Bank accounts per 100 person
      54
      Population of earners having a bank account
      44.9 %