- Personal bank accounts in India
In a fixed deposit account in India, a given amount of money will be put into the bank account for a given amount of time that is arranged with the bank. The rate will depend on the interest depends on the maturity period.
- Business bank accounts in India
There is no interest paid by the bank, too, on the current account balance. Cash credit accounts are popular, too. These accounts work where the bank actually lends money against the security of commodities. This is essentially like a loan, and if the business that takes out the loan does not or is unable to make the repayment as agreed then the bank will have the right to take commodities and assets worth the same as the repayment.