Categories: Bank-Deposits

Depositor

A depositor is an individual, organization, or entity that deposits funds or money into a financial institution such as a bank. By making a deposit, the depositor entrusts their funds to the institution, which holds and manages the deposited amount on their behalf. The deposited funds may be kept in various types of accounts, including savings accounts, current accounts, certificates of deposit, or other deposit instruments offered by the financial institution. The depositor maintains ownership of the deposited funds while relying on the financial institution to ensure their safekeeping and provide access to the funds as needed.

Akshatha Sajumon

Share
Published by
Akshatha Sajumon

Recent Posts

PPF calculator

A PPF calculator is an online tool that helps you calculate the maturity amount at…

1 year ago

Non-Resident Indian (NRI) PPF Account

Non-resident Indians are not allowed to open a new PPF account. However, if a resident…

1 year ago

Minor Account

A PPF account can be opened by a parent or guardian on behalf of a…

1 year ago

Joint Account

PPF rules do not allow joint accounts. An account can only be opened in the…

1 year ago

Extension of PPF Account:

After the maturity of the PPF account, you have the option to extend it for…

1 year ago

Withdrawal

From the 7th financial year onwards, you can make partial withdrawals from your PPF account.…

1 year ago