Like other Banks and financial Institution, Indian Post office offers a Saving Bank Account Scheme for normal Individual of India. Indian Post office Saving Bank Account comes with all features like offered by other Top Banks saving bank account schemes. Indian Post Saving Account can be started with a minimum balance of Rs 500. Also, … Read more
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Cheque is a order from bank customer to bank to pay the amount stated in it to the person named in payee column. Basically cheque are of two types normal and multi-city. Multi-city cheque can be issued to make payment at any corner of the country. Though cheque are basically of two types but its … Read more
Account Payee cheque meaning: When two parellel lines are drawn on the top left corner of the cheque with words a/c payee or ac payee only, then such cheques are deemed as account payee cheques. Like other cheques account payee cheque can’t be encashed at cash counter rather it needs to be deposited in the … Read more
Cancelled Cheque meaning: When two transverse lines are drawn in the middle of the cheque from across one corner to another with words ” CANCELLED ” then such cheque are called cancelled cheque. Purpose of drawing cancelled cheque: Cancelled cheque are issued when someone has to invest in financial investment like LIC, Mutual funds, Stocks, or … Read more
Bearer Cheque meaning: The word ” Bearer” itself means the possessor. Payment of Bearer cheque is made to the bearer of that cheque or the person who presents it at the cash counter. Whosoever finds this cheque can get it encashed on the bank counter. It is advisable to issue bearer cheque only when the payee … Read more
