Important Bank Products
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,1) Bank Accounts
Saving Accounts: For individual accounts like salaried person, the people who have a fixed regular income, Students, Senior citizens etc.
Current Account: For businessmen, Entrepreneur etc.
Fixed Deposit Account: For a particular fixed period and depositing particular sum of amount by Customer.
Recurring Deposit Account: For those who want to save regularly for a certain period of time and earn a higher interest rate.
2) Types of Cards
Debit Cards: Debit Cards are those Cards which are linked to a bank account and issued by Banks.
Credit Cards: Credit Cards are those Cards which are issued by “Banks” or “NBFCs” and approved by RBI. The credit limits sanctioned to a cardholder is in the form of a revolving line of credit. These Cards may be or may not be Linked to bank accounts.
Prepaid Cards: Prepaid Cards are those Cards which are issued by the “banks” or “NBFCs” against the value paid in advance by the cardholder and stored in such cards which can be issued as Smart cards, Mobile wallets, Magnetic Stripe Cards etc.
3) Different Names of Card
Mestro Card: Maestro is owned by MasterCard and you can get cash out of ATMs abroad too.
MarsterCard: It is a MasterCard International Global and MasterCard has better worldwide acceptance than Visa.
Visa Card: Visa Inc. is an American multinational corporation and facilitates electronic funds transfers throughout the world.
RuPay Card: Launched in March 2012 by National Payments Corporation of India (NPCI) in India
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