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What is the difference between saving bank account and Current account?
Wiki User
∙ 13y ago
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.
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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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.
Orlando Zieme
Elvis Franecki
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.
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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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.
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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.
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 account is similar to a saving account?
Current Account
What is fullform of casa in banking?
Current account saving account
What are the types of bank accounts in Pakistan?
1.fixed deposit account 2.saving account 3.current account 4.home saving account 5.family saving account
What are the functions of Habib Bank Ltd?
saving account fixed account current account
What is the CASA statement?
CASA statement means 'Current Account, Saving Account Statement'.
What is the difference between current account and saving bank account?
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. 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.
Can you have same account no for saving and current?
No - every bank account MUST have it's own unique account number.
Is the interest on current account higher than that of the saving account?
Of course not,current account does not have any interest,due to the withdrawal of the money for business at any time.
What is the definition of current account?
A bank account that you use for daily purchases and other similar transactions. Not an account to use for saving.
Is a savings account an current assets?
if saving account for more than one fiscal year then it is long term asset otherwise current asset.
