Banking Terms - Probationary Officer - Interview Questions - 2

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Q. What are different types of accounts in bank?
Banks in India have four types of deposit accounts

-           Current Accounts
-           Saving Banking Accounts
-           Recurring Deposits
-           Fixed Deposits.



Q. What is a current account?

Usually current accounts are held by business persons. The main purpose is to enable business folks to have easy transactions. There is no limit of transactions on a day on current accounts. Usually no interest is paid to the amount held in current accounts. Cheque facility is also provided for this account.