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A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times.
Savings Account: 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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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.
Fixed Deposit: A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
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What is the difference between a current account and a call deposit account?
You can withdraw cash at your call deposit account at any time if you have a call deposit account. The current account has the sum of the income of the goods and service less the expenditure.
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
Can i deposit 20 crore in current account in pakistan?
Yes. You can deposit 20 crone in current account in Pakistan.
Difference between deposit account and call account?
Fixed Deposit Call Account -There is a fix Maturity -There is no Fix Maturity -Terms of Deposit are generally fixed -Terms Generally Varies -Deposit and withdrals can not be made at - Deposit and Withdrals can be made Any Time at any time
What is the difference between a deposit slip and a withdrawal slip?
I'm not a 100% but a think that withdrawal is when you take money out of your bank account. And a deposit is when you put money in your bank account.
What id difference between mod banlance and avilable balance on ATM slip?
mod bal means money on deposit,available bal means current balance in ur account
What is the difference between a normal savings account and nre account?
In normal savings account, you deposit Indian money (rupee) and you can withdraw it in the same indian money. In nre account you can only deposit foreign currency and you withdraw indian currency. you cant deposit indian money in this account
What is the difference between surficial deposit and superficial deposit?
difference between surficial and superficial
What is current account?
A Current Account is a Bank Account opened in the name of a business establishment. Banks giving overdraft facilities, by checking the old transactions, if it is necessary for the establishment.Another meaning:A current account is a record of transactions between two parties, for example, between a bank and its customer or utility company and its customer.A current account is a type of bank account into which your wages are paid and you pay your debt/bill from. As compared to a deposit or savings account where you would put surplus money to earn interest on it. One would not normally pay money out of a deposit account on a regular basis.
Difference between current account and savings bank acount?
A savings account is one in which you can deposit your money, but there is a limitation on the number of transactions (Both credit and debit) that you can perform on your account. You will receive a nominal interest rate of around 4% per year on the minimum monthly balance you maintain in your account. A current account is similar to your savings account with a small difference. You can have unlimited number of transactions on your account. Also you do not receive any interest on your deposit money. Savings accounts is for normal citizens and Current accounts are for businesses and organizations.
Theo had a balance of -4 in his savings account. After making a deposit he has $25 in his account. What is the overall change in his account?
The overall change to his account was making a deposit of 29. The math would be -4 + 29 = 25 for his current balance.
Why do business people prefer the Current Account?
as there are no transaction limits, deposit limits as compared to savings account
