What are the special features of savings bank deposit and current account deposit?

What are the special features of savings bank deposit and current account deposit?

Top 10 Savings Account Features

  • Interest Rates. A competitive interest rate will help your savings grow faster.
  • Bonus Incentives.
  • Introductory Interest Rate.
  • Minimum Opening Deposit.
  • Monthly Deposit Requirements.
  • Frequency of Withdrawals.
  • ATM Facility.
  • Linked Accounts.

What are features of current account?

Features of Current Bank Account It is a non-interest bearing bank account. It needs a higher minimum balance to be maintained as compared to the savings account. Penalty is charged if minimum balance is not maintained in the current account. It charges interest on the short-term funds borrowed from the bank.

What are three features of a savings account?

Top 7 Features of a Savings Account

  • Easy Transactions. You can use your Savings Account to send and receive payments.
  • Payment of Bills. These days, banks offer payment facilities such as BillPay with Savings Accounts.
  • ATM facility.
  • NetBanking and MobileBanking.
  • Debit Card.
  • Savings interest rates.
  • Cross Product benefits.

    What are the types of current account?

    Packaged Current Account: The Packaged Current Account is one of those types of Current Account, which is in between the premium account and standard Current Account. It is better than the standard account with a decent amount of benefits along with additional features such as travel insurance, accident insurance, etc.

    What are two types of current accounts?

    Let’s take a look at the different types of current accounts there are, which are based on the different requirements you might have.

    • Premium Current Account.
    • Standard Current Account:
    • Foreign Currency Account:
    • Packaged Current Account:
    • Single Column Cash Book.