Hi Srikanth
Flow types defines types of payment flows such as Principal Increase, Final Repayment, Nominal Interest. Flow types are integrated with FI and Cash Management for Analysis purpose.
Flow types must be assigned to designated transaction types along with Product type.
Condition types are kind of action to be performed for the Treasury product type associated with.
Condition types such as Interest, commision, etc.
As Flow types are assigned to particular transaction type, Condition types also needed to assign Transaction type to complete the deal.
Best Regards
Venkateswara