A zero or non- interest bearing account that allows unlimited deposits and withdrawal for businesses and others with everyday banking transactions is referred to as a Current Account also known as Checking account. It is a type of deposit account maintained by individuals who carry out considerably higher number of transactions with banks on a regular basis.
Current bank accounts are very popular among the companies, firms, public enterprises, businessmen who conduct a high number of the transactions daily. These accounts offer the facilities that include deposits, withdrawals, and contra transactions of funds and are also called as the Demand Deposit Account. The current account holder needs to maintain a minimum balance that varies from bank to bank.
One can open his or her current account in any co-operative and commercial banks. For current account opening one need not to visit the branch of the bank or to stand in the long queue of the bank online with few clicks one can open his or her account online.
Current bank accounts are very popular among the companies, firms, public enterprises, businessmen who conduct a high number of the transactions daily. These accounts offer the facilities that include deposits, withdrawals, and contra transactions of funds and are also called as the Demand Deposit Account. The current account holder needs to maintain a minimum balance that varies from bank to bank.
One can open his or her current account in any co-operative and commercial banks. For current account opening one need not to visit the branch of the bank or to stand in the long queue of the bank online with few clicks one can open his or her account online.
Types of current account
Banks offer a huge range of current accounts to suit the differential needs of the customers. Some of the common types current accounts offered by banks are given below:
- Standard Current Account
Standard current account is a non-interest bearing deposit account with minimum balance requirements and a predetermined monthly average balance. It offers cheque books, debit cards, free eStatement, overdraft facility, internet banking, SMS banking, Free RTGS and NEFT transactions etc to the account holders.
- Premium current account
It comes with exclusive offers and benefits to account holders. The account provides a multitude of customized features and it is generally suited for those who carry out high financial transactions.
- Packaged current account
A packaged current account is a type of bank account that offers lots of perks to accountholder and access to a number of additional products, services and subscriptions that are not usually associated with a current account.
- Foreign currency account
It is type of current account denominated in a currency other than the home currency and can be maintained by a bank in the home country or a bank in another country. Foreign currency account is the best option for those individuals or businesses that require frequent transactions to be carried out in foreign currencies.
- Basic current account
It is another type of current account. Basic current account offers a simple range of every-day banking services; these are basically designed to help people such as young people, pensioners, the unemployed to manage their finances more easily.
To open your current account, visit https://www.applykaroo.com/current-account.
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