Why a person prefer current deposit account if no interest is paid rather some service charges are charged?
Asked by shiphalijain | 8th Oct, 2017, 10:45: AM
Expert Answer:
Generally, the current account is opened by businessmen. The money can be withdrawn and deposited by the account holder whenever desired. The money from this account is always withdrawn by cheque. This account provides overdraft and credit limit facility. Hence, a person prefers current deposit account if no interest is paid rather some service charges are charged.
Generally, the current account is opened by businessmen. The money can be withdrawn and deposited by the account holder whenever desired. The money from this account is always withdrawn by cheque. This account provides overdraft and credit limit facility. Hence, a person prefers current deposit account if no interest is paid rather some service charges are charged.
Answered by Tharageswari S | 9th Oct, 2017, 08:19: AM
- Services such as bill payments and locker facilities are provided by banks. What are these services called?
- Explain any four services offered by banks.
- State any two agency functions of a commercial bank.
- The commercial banks are not similar to the Central bank. Justify the statement.
- <div>Ifa person has taken insurance of fire for his company and nothing happen to its company in the future, then what will happen to the amount which he had deposited to the insurer?</div>
- <div>Why everyone prefer other accounts if such good facilities are provided by multiple option deposit account? ?</div>
- <div>What is the difference between recurring and fixed deposit account? ?</div> <div> </div>
- <div>Q.1 Which cause is responsible for the risk arising due to increase in sales tax?</div>
- <div>what do you mean by unlimited liability.</div>
Kindly Sign up for a personalised experience
- Ask Study Doubts
- Sample Papers
- Past Year Papers
- Textbook Solutions
Sign Up
Verify mobile number
Enter the OTP sent to your number
Change