Hi experts .Pls ans this question and explain everything nicely in detail
Now consider the situation
I have a Fixed Deposit account.
So can someone else deposit money as payment etc in MY FIXED DEPOSIT ACCOUNT ( FD)
that is, can a person 'Y' deposit/transfer money in person 'X' FD account
Pls explain
Solution-
FD or a fixed deposit account is another type of bank account that can be opened in any Public or Private sector bank.
FD or a fixed deposit account is another type of bank account that can be opened in any Public or Private sector bank.
The list of important things that need to be known with respect to the fixed deposit account has been mentioned below:
It is a one time deposit and one time take away account. Under this type of account, the account holder needs to deposit a fixed amount of sum (as per their wish) for a fixed time period
The amount deposited in FD account can only be withdrawn all at once and not in instalments
Banks pay interest on the fixed deposit account
The rate of interest depends upon the amount you deposit and for the time duration of the FD
Full repayment of the amount is available before the maturity date of FD.
As mentioned above fixed deposit is one time deposit and one time take type of deposits. So once the bond has been issued by the bank where FD is opened then no person can deposit extra money in it.
As mentioned above fixed deposit is one time deposit and one time take type of deposits. So once the bond has been issued by the bank where FD is opened then no person can deposit extra money in it.