Question

write down a few salient features of current account deposit​

Answer 1

Explanation:

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Answer 2

Answer:

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Explanation:

Current Account is a bank deposit that can be withdrawn by the depositor at any time. The depositor is at liberty to operate this account any number of times in a day unlike Savings Accounts where only limited transactions are allowed. This account is generally opened by people who are engaged in trade, businesses and professions.

The main features of current account are as follows:- 1 Current bank accounts are operated to run a business. 2 It is a non-interest bearing bank account. 3 It needs a higher minimum balance to be maintained as compared to the savings account. 4 Penalty is charged if minimum balance is not maintained in the current account. 5 It charges interest on the short-term funds borrowed from the bank.

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