@ashabhagchandani , a deposit account is generally a bank account that you own yourself or jointly with someone else. The general assumption is that the owner is not a minor. A custodial account is one that you or someone operates for another living person or for an entity -- like a trustee account.
In case of FBAR or FATCA reporting what they are trying to get to is the assets that you control either through ownership or as trustee or have only signature authority ( but no financial interest -- like being on an account as a signatory with your parents / family member but they actual own and operate the account.
Does this help ?
Namaste ji
pk
