Question
What are the different types of deposit accounts available?
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28th Feb 2011 by admint
Savings accounts allow you to store your money in the bank and be paid a small amount of interest. Checking accounts are the most liquid of the banking accounts because you can write checks to transfer money out of the account. Certificates of deposit are a type of account that requires the account holder to put money into account for a specified period of time in exchange for a guaranteed rate of return. Money market deposit accounts are similar to savings accounts. However, they usually pay higher interest rates because they have higher minimum account balance requirements.
Savings accounts allow you to store your money in the bank and be paid a small amount of interest. Checking accounts are the most liquid of the banking accounts because you can write checks to transfer money out of the account. Certificates of deposit are a type of account that requires the account holder to put money into account for a specified period of time in exchange for a guaranteed rate of return. Money market deposit accounts are similar to savings accounts. However, they usually pay higher interest rates because they have higher minimum account balance requirements.
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9th Dec 2009 In Banking
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Subjects: deposit accounts,