Bank accounts are used all over the world for a variety of different purposes, including loan management, savings, and everyday transactions. In fact, there are so many different kinds of bank accounts on the market, that it can be difficult for people to know what product is the right one for them.

While there are literally hundreds of different bank accounts and account variations on the market, most accounts can be divided into two basic categories. Deposit accounts are those that are designed to hold a debit balance, such as everyday transaction accounts of savings accounts. Loan accounts are those that are designed to hold a credit balance, such as credit card accounts or those linked with a mortgage loan.

However, within these two basic categories there are a wide range of different bank accounts for consumers to choose from, including joint accounts, automatic transfer service accounts, low cost accounts, money market accounts, personal accounts, time deposit accounts, savings accounts, overdraft free accounts, and transaction deposit accounts. Everyone has different needs from bank account (Depotkonto) products, which is the reason there are so many different types of bank accounts on the market. The kind of bank accounts being offered to consumers is also dependent on the jurisdiction of operation, with some countries having much more variation than others.

Most people think of a deposit account when they think of a bank account. The most common kind of deposit accounts being used in the 21st century are current accounts and savings accounts. Current accounts are also known as transaction accounts, and are used for everyday withdrawals and transactions. Savings accounts, in comparison, are generally used to save money, and have a higher rate of interest as a result. The other major bank account category is loan accounts, which are generally set up to manage and service specific kinds of loan products. For example, many people have an account for their credit card, or an account that is linked directly to their home mortgage.