Banking Exam Question - What are the Types of Bank Account? Explain with Features

Introduction - Types of Bank Accounts

Types of some popular accounts opened on the back and their features are as follows:

1) Current Account

• Such a type of account opens with a number of businessmen or organizations who need immediate amount at any time.
• The businessman gets the maximum amount or amount of money every day.
• Traders and business entrepreneurs who traded daily in large quantities are profitable
• Interest is not available in such an account, but in return for the protection of money, the banks reimburse some fees.
• Call Deposit facility can be accessible

(B) savings account

• There is a certain arrangement about the amount and number that can be inflated from such an account, as a check can only be less than one million by one check, one more than one lakh checks can not be detected from its name.
• This account is useful for people.
• Banks provide interest rates in fixed and fixed percentage savings account.

(C) Fixed account

• Issuing account is opened for a fixed time period such as 4 months, 6 months, 1 year, 2 years, 3 years, 5 years.
• Unless the specified time period is completed, the account can not be deducted from the issue. If the time should be taken out of the open, open the loan as soon as possible.
• Due to account deposits of issue accounting, nature is provided more interest rates than other accounts.
• The loan will be provided easily if the loan amount is required to the person collecting the account opening account.
• A person is provided to the person after collecting an account opening account.