Name the deposit account which allows Overdraft facility. Mention any other features of that deposit account.
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Answered by
8
Hey mate this is AANCHAL PARMAR answering your question.. Hope This Helps you
Only current account allows the overdraft facility for a short period of time...
FEATURES OF CURRENT ACCOUNT..
Current bank accounts are operated to run a business.
It is a non-interest bearing bank account.
It needs a higher minimum balance to be maintained as compared to the savings account.
Penalty is charged if minimum balance is not maintained in the current account.
Only current account allows the overdraft facility for a short period of time...
FEATURES OF CURRENT ACCOUNT..
Current bank accounts are operated to run a business.
It is a non-interest bearing bank account.
It needs a higher minimum balance to be maintained as compared to the savings account.
Penalty is charged if minimum balance is not maintained in the current account.
Answered by
6
Answer: Pardhan Mantri Jan dhan Yojna Saving Account
Pardhan Mantri Jan dhan Yojna Saving Account allows overdraft facility for short term period. Maximum amount of overdraft up to Rs. 10000. This facility can be availed by the account holder having satisfactory record for six months.
Other features of this account are given below:
1. This is small saving account for labours, farmers etc.
2. Overdraft facility could be availed by providing aadhar card only.
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