Current bank account is opened by businessmen who have a number of regular transactions with the bank, both deposits and withdrawals. It is also known as Demand Deposit.
In Our Society current account can be opened by depositing minimum balance Rs.1,000 . The customers are allowed to withdraw the amount with cheques and they generally do not get any interest
Features of Current Account
The main objective of current bank account is to enable the businessmen to conduct their business transactions smoothly
There is no restriction on the number and amount of deposits. There is also no restriction on the withdrawals
Generally bank does not pay any interest on current account.
Current account is of continuing nature and as such there is no fixed period Advantages of Current Account
Current account enables businessmen to conduct his business transactions smoothly
The businessmen can withdraw any amount at any time from their current accounts. There are also no restrictions on withdrawals
The businessmen can make direct payment to their creditors with the help of cheques