Commercial banks maintain the following types of deposits

Current Account (Demand deposit)

A type of account where there is no interest on the balance and transactions are done by issuing cheques. Overdraft facilities and telermachine facilities are also available
Savings account

The purposes of introducing the type of account is to promote the saving habit among the people by providing on interest on the balance. Cash can be withdrawn and de posited at anytime. Transactions via Telermachine is also available.
Fixed Deposit

A deposit for a specific period of time and with a fixed interest rate. A High interest rate is paid on this deposit.
Facilities rendered to businessmen through the current account

• Payment can be made through cheques.

• Remittance facilities

• Overdraft facilities

• Statement of accounts

• Standing order facilities
The types of loan facilities in commercial banks.

• Over draft

• Loans

• An overdraft is a facility given by a bank to a customer issuing a cheque above the balance available in the current account.

• Overdraft can be categorized as temporary overdraft, permanent overdraft

• A bank loan is an amount of money given by the bank to be paid on a specific interest. It is given on certain conditions.
• Loans can be categorized as bank loans, business loans and consumer loans.

• A business loan is one which is given for commercial purposes on short, medium or long term and consumer loans are given for the purchase of long term fixed assets and sudden expenses.