Bank accounts are mainly of 2 types: Deposit Account and Current Account.
Deposit accounts are those where you lend money to the bank in exchange of profit and/or service. Whereas Loan Accounts are the just opposit. Loan accounts are those where bank lend money to you in exchange of profit.
Deposit accounts again can be of two types: Current Account and Savings Accounts.
Current accounts are those where you keep money and receive banking services including security in exchange of fees/charges. This is a demand deposit for the bank. That is, bank is liable to say your balance on your demand. Again Savings Accounts are those where you keep your money in the bank in exchange of profit along with security and banking services at cost.
Loan accounts are mainly of two types: Term loans and Continuous Loan. Term loans are those where you take a loan and repay the same along with interest within a fixed period of time. And Continuous loans are those where you do not have a time limit to repay the same along with the interest.
If you don't have a bank account any how, have one RIGHT NOW.
Read More about Bank Cheque
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