0
What is the difference in a checking account and a saving account?
Wiki User
∙ 13y ago
A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want.
A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is free checking accounts?
My saving account
How do you research old checking and saving account numbers for Barnett Bank in Florida?
How do you research old checking and saving account numbers for Barnett Bank in Florida?Read more:How_do_you_research_old_checking_and_saving_account_numbers_for_Barnett_Bank_in_Florida
What is my balance?
what is my recent deposit and balance on checking account elcantante i need my saving account balance
What are the principles of online checking?
The principles of online checking are borrowing and and saving at a bank institution. This is done at your bank branch with your account that you have there.
What is the difference between saving account and salary account in bank?
In Salary Account 0 balance is allowed and in saving account minimum balance required
What is free checking accounts?
My saving account
What is type of saving vehicle?
Checking account
How do you research old checking and saving account numbers for Barnett Bank in Florida?
How do you research old checking and saving account numbers for Barnett Bank in Florida?Read more:How_do_you_research_old_checking_and_saving_account_numbers_for_Barnett_Bank_in_Florida
What makes a saving account a better investment than checking account?
A savings account earns interest.
Can one get a free and easy checking account at Beneficial Saving Bank?
Yes, you can get a free and easy checking account at Beneficial Saving Bank. Most banks will also offer free balance transfers and no minimum amount in the account.
What is my balance?
what is my recent deposit and balance on checking account elcantante i need my saving account balance
Do you need a cheque to withdraw cash from the bank?
depends if you have a checking account. but no, if it's only saving account.
What is the difference between a trust and a checking account?
a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.
What is the difference between saving account and salary account in bank?
In Salary Account 0 balance is allowed and in saving account minimum balance required
What are the principles of online checking?
The principles of online checking are borrowing and and saving at a bank institution. This is done at your bank branch with your account that you have there.
What is the difference between a checking account and credit card account?
checking from bank fund & credit card prepaid by credit
How is a checking account different than a saving account?
Both Checking Accounts and Savings Accounts are basic types of bank accounts provided by banks to their customers. The difference is: a. There are limitations on the number of trasactions that can be performed in a savings account on a per month basis whereas for checking accounts there are no limitations b. The interest rate offered by banks on savings account is much higher than what is offered on checking accounts because banks offer almost no interest in them
