Question

mr praveen got salary increment his job.he is intrested to know about the diffrent type of bank account. guide him​

Answer 1

Answer:

saving bank account and current bank account

Answer 2

Answer:

Mr. Praveen got salary increment in his job. He is interested to know about the different type of Bank Accounts. Guide him.

Many individuals starting their jobs or businesses and willing to open their bank accounts are curious about which account is right for them. Savings account and current account are among the most common types of account opened in banks. However, the choice of this selection depends entirely on your banking needs.

Savings Account

Savings account as the name suggests, is for saving your money for a long term. Here are some of the most prominent features of a savings account:

• In this account, there is a fixed interest earned on that you deposit.

• The minimum balance in savings account is lesser compared to current account.

• Interests deposited by banks are beneficial for future Emergencies.

Current Account

Current account is usually an account opened when there would be frequent transactions involved. Some of the features include:

• Current account is for making quick transactions.

• They come with a myriad of facilities like overdrafts, no limit on withdrawals or deposits and more.

• There is no limit on number of transactions

• Features are suitable for business purposes

Explanation:

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