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.