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प्रश्न
The current account holders are not given interest on their deposits. The reason being:
पर्याय
Current account holders maintain their account only for a very short period.
They belong to the high-income group and do not need interest from the bank.
The businessmen who opened these accounts eam huge profit from their businesses.
There is no limitation on the number of withdrawals by the current account holders.
उत्तर
There is no limitation on the number of withdrawals by the current account holders.
Explanation:
Current accounts are usually used by businesses and individuals who need quick and easy access to their funds. Banks do not pay interest on these deposits because there is no limit to the amount of withdrawals and transactions that can be done without restriction.
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संबंधित प्रश्न
State one point of difference between Cash Credit and Overdraft.
A depositor is allowed to withdraw more money than what is there in his account:
- What is the facility called?
- In which type of account is it permitted?
State the differences between a loan and an overdraft.
Explain any four advantages of a bank account.
Explain the term bank overdraft.
Differentiate between current deposit account and fixed deposit account.
The advantage of having a bank account is that it ______.
Observe the relationship of the first pair of word and complete the second pair.
The primary function of a commercial bank : Acceptance of deposit, the agency function of a commercial banks : ______.
From which type of deposits, money can be withdrawn only after the maturity date?
Explain three main features of a current bank account.
