TYPES OF BANK ACCOUNT 1) SAVING BANK ACCOUNT 2) CURRENT BANK ACCOUNT 3) RECURRING BANK ACCOUNT 4) FIXED DEPOSIT BANK ACCOUNT 1) SAVING BANK ACCOUNT SAVING ACCOUNTS ARE THE INDIVIDUAL ACCOUNT FOR THE PERSONAL PURPOSE OF SAVING MOST OF THE INDIVIDUALS SAVE THEIR INVESTMENTS WITH THIS ACCOUNT. THE SAVING ACCOUNT IS OPENED ON THE NAME OF INDIVIDUALS ONLY. ON SAVING ACCOUNT INDIVIDUAL EARN SOME RATE OF INTEREST THESE RATE OF INTEREST VARIES FROM BANK TO BANK WHEN A PERSON OPENS A SAVING ACCOUNT HE IS PROVIDED WITH THE PASS BOOK, ATM , CHEQUE BOOK. ON SAVING ACCOUNT THEIR IS NO RESTRICTION ON THE NUMBER AND AMOUNT OF DEPOSIT BUT THEIR IS CERTAIN RESTRICTION ON THE WITHDRAWAL OF THE MONEY. MINIMUM BALANCED HAD TO BE MAINTAINED BY THE CUSTOMER AS MENTIONED BY THE BANK. 2) CURRENT BANK ACCOUNT CURRENT ACCOUNTS ARE THE ACCOUNTS OPENED FOR THE BUSINESS TRANSACTION, ON THE NAME OF THE FIRM OR COMPANY. THESE ARE NEVER USED FOR THE PURPOSE OF SAVING & IN...
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