Types of Bank Accounts in India With the advancement in banking technology, many banks are offering tailor made products to suit individual needs. While accounts may differ from bank to bank their purpose remain the same. Many banks have different products on the basis of customer's age, income and gender. Here are a few different kinds of bank accounts. There are mainly three types of Banking accounts in India: Demand Deposits Term Deposits Non-Resident Deposits Now, we will study one by one, starting from Demand Deposits. 1. Demand Deposit In these types of accounts, money is payable on demand. It includes current accounts and savings accounts ( CASA - Current Account and Savings Account ) (A) Savings account: A savings account is an interest-bearing account held at a bank. There are mainly three types of saving accounts in Indian banks: (i) Basic Savings Bank Deposit Accounts (BSBDA) (ii) Basic Saving Bank Deposit Acco
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