Retail Accounts & Retail Deposits
Retail Accounts
Retail accounts are bank accounts used by individual customers (normal people) for personal banking purposes such as:
- Savings
- Salary deposits
- Fixed deposits
- Personal loans
- Daily transactions
Examples:
- Savings account
- Salary account
- Personal FD account
Retail Deposits
Retail deposits are the money deposited by individual customers into the bank through retail accounts.
Examples:
- Savings account balance
- Fixed Deposits (FDs)
- Recurring Deposits (RDs)
Simple Understanding
- Retail Account = The customer’s banking account
- Retail Deposit = The money stored in those accounts
Example:
If Mohan keeps:
- ₹50,000 in a savings account
- ₹2 lakhs in an FD
Then:
- The savings account and FD account are called Retail Accounts
- The ₹2.5 lakhs kept in the bank are called Retail Deposits