defferentiate between account and saving account?
Answers
Answer:
Current Account is the account in which one can deposit and withdraw the money anytime and and with no limits and bank charges for such transactions whereas, Saving Account have limits and and money can be deposite and withdraw with limited time, in this account bank give interest to the account holders.
Answer:
Account
A cheque is usually used to withdraw money from the account. No minimum balance is required when making withdrawals from bank
A/C. Any amount or money can be withdrawn at any time as there is no restriction on the maximum to be withdrawn.May allow overdrafts to customers.Money on this account does not earn interest.Tgere is no restrictions on the frequency of withdrawal from the account.
Saving account
Funds are not withdrawn by use of a cheque.
A minimum balance must be maintained in the
A/C for it to remain operational. Frequency of withdrawal may be regulated by the bank policy overdraft are not usually allowed. A certain minimum deposit maintained on the A/C may qualify to earn interest. A notice is required in case one wishes to withdraw beyond a certain maximum.