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What are current accounts? - Commercial Applications

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What are current accounts?

What is a current account?

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Solution

Amounts in a current account can be deposited and withdrawn an unlimited number of times. It is opened by a businessman who has a significant volume of frequent bank transactions. A current account holder can get an overdraft from the bank. This sort of account does not pay interest.

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Commercial Banks: Functions
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Chapter 7: Banking and Bank Transactions - EXERCISES [Page 125]

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Goyal Brothers Prakashan Commercial Applications [English] Class 10 ICSE
Chapter 7 Banking and Bank Transactions
EXERCISES | Q 8. | Page 125
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