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Bank Deposits

Know Your Client guidelines

It is essential for banks and other financial institutions to conduct thorough due diligence on their investors. This involves verifying the identity of the client and ensuring that there is no potential for money laundering. This process is crucial in maintaining the integrity of the financial system and protecting the interests of both the institution and its clients.

Recurring Deposit or Cumulative Deposit Account

A bank account that requires a depositor to deposit a fixed amount (in multiples of Rs 5 or Rs 10) every month is known as a recurring deposit account. This deposit is typic...

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Receipt

A vital document demonstrating an investor's deposit to a bank, known as a certificate of deposit. It provides essential information such as the deposited amount, interest p...

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Interest payout

A crucial aspect of investments, interest payout refers to the distribution of accumulated interest to the investor on a periodic basis. This can be in the form of quarterly...

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Sweep Account

In the world of finance, a popular product known as a "Sweep Account" has been introduced by numerous banks. This unique account offers a combination of savings and fixed d...

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