Fixed Deposit Receipts (FDR) or Fixed Deposit Account (FDA):
They are deposits with a bank for a fixed period of time which specified at the time of making the deposits. Fixed deposits are repayable on the expiry of the specified period, chosen by depositor to suit his purpose, fixed deposit periods usually are of 3rd months, 6th months, 12th months and 24th months etc. Interest rates also vary in accordance with the deposit period period-longer the period higher is the rate of interest. The FDR are not transferable and negotiable.
Deposit Pension Scheme (DPS):
It is a profitable deposit scheme/account which is available with some bank. This is a special type of savings scheme designed for the fixed income group. A certain amount is deposited every month in an account which is accumulated over a specified period of time along with interest accrued during the period. Upon maturity the total amount (monthly accumulated deposits+ accrued interest) is made available to the A/C holder.
Call Deposit (Money at call):
Some times the banker secures funds from the money market usually to meet purely temporary fund shortage. These debts are repayable immediately at call. When money market is tight such deposits attract higher rate of interest.
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