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प्रश्न
Distinguish between the following:
Current account and saving account:
उत्तर
| Current account | Saving account |
| An account which is opened and operated by the businessmen, company, firm and others who have regular banking transactions is called Current Account. | An account which is opened and operated by an individual or the fixed income earners to save part of their income is called Savings Account. |
| Current Accountholders can withdraw money from the bank by using cheques. There are no restrictions on the Withdrawal of money from this account provided there is sufficient balance in the account. | Savings Accountholders can withdraw money from the bank either by use of cheques or by use of withdrawal slips. There are certain restrictions on the number of withdrawals and amount to be withdrawn at a time. |
| Accountholders get Passbook, cheque book, pay-in-slip and statement of accounts from the bank | Accountholders get Passbook, cheque book and pay-in-slip from the bank. |
| Generally, no’ interest is paid on the balance standing in this account. It may be given at a nominal rate. | Interest is paid periodically on the minimum balance in this account. The rate of interest is higher than the rate of interest paid on the current account. |
| Overdraft and cash credit facilities are given to the current account holders only. | Such facilities are not given to these account holders. |
| It is suitable for traders, businessmen, firms, and institutions. | It is suitable for regular income earners and salaried people. |
APPEARS IN
संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
Permission to withdraw excess amount from Current Account.
Write a word or a term or a phase which can substitute the following statement:
Separate loan account under which the short term loan facility given by bank to the business
Write a word or a term or a phase which can substitute the following statement:
The short term credit facility given by bank to current account holder.
Select the correct answer from the options given below and rewrite the statement.
A company usually opens _____________ account in a bank.
State whether the following statement is true or false :
Bank account of company is operated by shareholder.
State whether the following statement is true or false :
Bank overdraft facility is a long term facility.
Find the odd one:
Complete the sentence:
A financial institution which receives deposits and lends money is called as __________
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Answer in one sentence:
Which facility is given to Current Account holder?
Answer in one sentence:
What do you mean by stop payment of cheque?
Justify the following statement:
Overdraft facility is given only to current depositors?
Explain the different types of deposits
Explain the following term/concept:
Cash Credit.
Explain the following term/concept:
Savings Deposits
Explain the following term/concept:
Time Deposits.
Correct the underlined word and rewrite the following sentence:
Under Cash Credit facility businessman /Accountholder can overdraw from his account.
Explain the following term/concept:
Fixed deposits
Explain the following term/concept:
Loans
