Understanding Deposit Accounts: Definition, Types, and Benefits

depositThe FDIC provides deposit insurance to protect your money in the event of a bank failure. Your deposits are automatically insured to at least $250,000 at eachBook and withdraw your Fixed Deposit (FD) at any time. For early withdrawal, the rate of interest shall be calculated at minus 2% of the rate of interest applicable for the completed tenure. No interest will be paid if the interest of