Banks receive money from the public by way of deposits. The following types of deposits are usually received by banks:

• Current deposit
• Saving deposit
• Fixed deposit
• Recurring deposit
• Miscellaneous deposits

Current Deposit

Also called ‘demand deposit’, current deposit can be withdrawn by the depositor at any time by cheques. Businessmen generally open current accounts with banks. Current accounts do not carry any interest as the amount deposited in these accounts is repayable on demand without any restriction. Banks usually charge a small amount known as incidental charges on current deposit accounts depending on the number of transaction.

HSBC’s current account takes the hassle out of managing your daily finances. You won’t need to rush around to pay your bills; simply arrange for direct debit payments or issue a cheque and mail it at your convenience. What’s more, you’ll have access to your account and a wide range of banking transactions, 24 hours a day, seven days a week – with our ATM Cards.

MCB make your everyday banking simple. It is also a perfect gateway to a world of products and services designed to meet your needs.MCB’s current account is like a swiss army knife: easily accessible, it comes with multiple features that are perfect for your daily banking needs like cheque books, overdraft facilities, credits cards, mobile banking and so on.

Savings deposit/Savings Bank Accounts

Savings deposit account is meant for individuals who wish to deposit small amounts out of their current income. A saving account can be opened with or without cheque book facility. There are restrictions on the withdrawls from this account. Savings account holders are also allowed to deposit cheques, drafts, dividend warrants, etc. drawn in their favour for collection by the bank. To open a savings account, it is necessary for the depositor to be introduced by a person having a current or savings account with the same bank.

MCB ‘s retirement plan offer a comfortable retirement to old people. Start today by putting aside as little as Rs 1,000 each month in your Retirement Plan. This can help old person to better enjoy their lives peacefully without depending on others.MCB also offer educational plan by which it can offer a good future to your children. Education is key to your children’s future. But have you thought about the costs of higher studies? Start planning today by investing in our Education Plan. Planning your child’s future, with the Education Plan, you only have to contribute a monthly minimum amount of Rs500. Our financial experts will help you choose the investment funds that best suit your needs in our wide range of products.

Barclays offer junior saving account. As a parent, you know it’s never too early for your child to learn to save. And it’s a better way to teach them with a fun, easy way – saving the junior way, enjoying high interest rates. Your child will be able to see his money grow faster, thanks to a higher interest rate than a normal savings account. Interest is calculated daily and credited half-yearly. Enjoy attractive interest rates as high as 1 month’s FD. Your Child is protected.