ACKNO

WLED
GEME
NT
I would love to
explicit my
unique thank
you of
gratitude to
my teacher additionally helped me in
K.Vanitha doing quite a few Research
mam who and that i got here to
gave me the understand approximately
golden such a lot of new matters I
possibility to am certainly grateful to them.
do that Secondly i'd additionally want
notable to thank my dad and mom
challenge on and buddies who helped me
the subject lots in finalizing this challenge
maths, which in the restricted time frame.
 INDEX
 ACKNOWLEDGEMENT
 STUDY OF VARIOUS TYPES OF BANK
ACCOUNTS AND RATE OF INTEREST
OFFERED
 INTRODUCTION
 TYPES OF BANK ACCOUNTS
 FORMULAE
 RATES OF INTEREST OFFERED
 PLANNING A HOME BUDGET
 INTRODUCTION
 TYPES OF BUDGET
 PERSONAL BUDGET
 HOME BUDGET FOR GUPTA FAMILY
 FOR THE MONTH OF JANUARY
 GRAPHS
 CONCLUSION
 BIBLIOGRAPHY
 SURVEY OF
VARIOUS TYPES
OF BANK
ACCOUNTS AND
RATES OF INTEREST
OFFERED
 INTRODUCTION
A Bank may be defined as a company which
collects money from the public in the form
of deposits and lends the same to
borrowers. It is an institution that provides
facilities for safe keeping, lending and
transfer of money.
According to Crowther,
“The banker’s business is to take the debts
of other people to offer his own in exchange
and thereby create money.”
According to R.P. Kent,
“An organization whose principal
operations are concerned with the
accumulation of the temporarily idle money
of the general public for the purpose of
advancing to others for
expenditure.”
 TYPES OF BANK
ACCOUNTS
Bank accounts are classified into four
different types. They are,
1. Saving Account
2. Current Account
3. Recurring Deposit Account
4. Fixed Deposit Account

1. Saving Account: - A savings account is

an interest-bearing deposit account
held at a bank or another financial
institution that provides a
modest interest rate.
2. Current Account: - Current account
is opened by businessmen who have
a higher number of transactions with
 the bank . It includes deposits,
withdrawals and contra transactions.
Current account can be opened in co-
operative bank and commercial bank.
3. Recurring Deposit Account: - In
recurring deposit account, a certain
fixed amount is accepted every
month for a specified period and the
total amount is repaid with interest at
the end of the particular fixed period.
4. Fixed Deposit Account: - The account
which is opened for a particular fixed
period (time) by depositing particular
amount (money) is known as Fixed
(term) Deposit Account. It means
that the deposit is fixed and is
repayable only after a specific period
is over.

HERE WE WILL DISSCUS ONLY ABOUT

RECURRING DEPOSIT ACCOUNT.
 FORMULAE
The interest on the recurring deposit
account can be calculated by using
the formula:

n(n+1) r
I = P* 2*12 *100

Where I is the (simple) interest, P is the

money deposited per month, n is the
number of months for which the money has
been deposited and r is the (simple)
interest rate percent per annum
RATES OF INTEREST
OFFERED
 PLANNING A
HOME BUDGET
 INTRODUCTION
A budget is an estimation
of revenue and expenses over a specified
future period of time; it is compiled and re-
evaluated on a periodic basis. Budgets can
be made for a person, a family, a group of
people, a business, a government, a
country, a multinational organization or
just about anything else that makes and
spends money. At companies and
organizations, a budget is an internal tool
used by management and is often not
required for reporting by external parties.
PERSONAL BUDGET
A personal budget or home budget is
a finance plan that allocates future
personal income towards expenses, savings
and debt repayment. Past spending
and personal debt are considered when
creating a personal budget. There are
several methods and tools available for
creating, using and adjusting a personal
budget. For example, jobs are an income
source, while bills and rent payments are
expenses.
HOME BUDGET FOR
GUPTA FAMILY
 Family’s name : Bhatti’s
 No. of Family members : 4
 No. of earning members : 1
 Maid : 1 (part–time)
 No. of children studying : 2
 No. of mobile phones : 3
 No. of Vehicles : 3 ( 1 four wheeler ,2
two wheeler )
 House owned
 Designation of earning members
: Father: Businessman
 FOR THE MONTH OF
JANUARY
Category Amount
Total income 500000
Taxes 40000
Actual income 460000
House maintenance 5000
Grocery + fruits + 8000
vegetables
Milk 3500
Electricity + water 4000
Conveyance 500
Clothing 2500
School fees 8500
Entertainment 4000
Automobile 2500
Mobiles 1000
Maid 1000
Repairs 1000
Travelling 5000
Laundry 500
Shopping 10000
Stationary 1000
Medical 2000
Grand total 60000
Savings 400000
Yearly savings 480000
 CONCLUSION
By doing this project I got information on
“Various types of bank accounts and rate
of interest offered” and “planning a home
budget”. I got information about types of
bank accounts, formula to calculate rate of
interest, types of budget, what is personal
budget, etc.
 BIBLIOGRAPHY
I visited on:
www.meritnation.com
www.wikipiedia.com
www.scribed.com
and taken information from various books .