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what is the difference between saving a/c and current a/c.?
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Answer Posted / ningappa
An account maintained by a customer with a depository
institution for the purpose of accumulating funds over a
period of time. Funds deposited in a savings account may be
withdrawn only by the account owner or a duly authorized
agent, or on the owner's nontransferable order. The account
may be owned by one or more persons.
Current A/c:- is an account for the commercial / business
segment users. It provide the facility of high monthly
transaction without any additional cost. It also provide
check book facility. Can be opened with an initial deposit
of Rs. 5000.
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