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No they do not close your Checking or Savings account
form_title= Online Bank Account form_header= Bank from anywhere with an online bank account! Who is your current bank provider?*= _ [50] What is your current interest rate?*= _ [50] What account types do you own?= [] Checking [] Savings
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.
The current interest rate for a regular savings account at Bank of America is 0.05. This rate applies to custodial savings for youth accounts as well.
No, CD rates are higher, but you cannot withdraw the funds as easily as a bank savings account.
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
The current savings accounts rates for National City Bank depend on how long you commit to the account. A 60 month saving account can yield as high as 1.8%.
account balance information
If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.
A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In india the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account. A current account on the other hand is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account.
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
You can open a savings account at any bank or credit union. There are online bank savings accounts, too.