(iii)
Short
Term
Deposits:
1.
Individual 2.
3.
Proprietor
Joint Ship
Account Account Account
4. Limited Company Account
(iv) Fixed Deposits: Fixed deposit is one, which is repayable after the expiry of a predetermined period fixed by him. The period varies form 1 month to 12 months. These deposits are not repayable on demand but they are withdraw able subject to a period of notice. Hence, it is a popularly known as ‘Time Deposit’ or ‘Time Liabilities”. Normally the money on a fixed deposit is not repayable before the expiry of a fixed period. Before opening a Fixed Deposit Account a customer has to fill up an application form which contains the
followings: 1. Amounting figures 2. Beneficiary’s name and address 3. Period 4. Rate of interest 5. Date of issue 6. Date of maturity 7. Instructions: 8. Special instruction 9. How the account will be operated (singly or jointly) 10 Signatures 11 FDR no.
Then a FDR account is opened and it is recorded in the FDR Register which contains the following information,1. 2. 3.
FDRA FDR Name
4. 5. 6. Interest rate 3.3 Brief of MTBL Consumer Products:
/C
(Fixed of
Deposit
the
FDR
Holder
no. Receipt) with
Maturity Maturity
no. address period
date