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 The money can be withdrawn and deposited by the account holder whenever desired. The money from this account is always withdrawn by cheque.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.

Answered by Tharageswari S | 9th Oct, 2017, 08:19: AM