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What Is “saving Bank Account”? |
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Answer» If a person has LIMITED income and he wants to save some money for future, then the account he opens is a Saving Bank Account. The account can be OPENED with the MINIMUM initial deposit AMOUNT decided by the bank. The account holder can deposit the money anytime. He can also withdraw the money by withdrawal form or ATM or cheque. The RATE of interest varies from bank to bank and changes time to time. If a person has limited income and he wants to save some money for future, then the account he opens is a Saving Bank Account. The account can be opened with the minimum initial deposit amount decided by the bank. The account holder can deposit the money anytime. He can also withdraw the money by withdrawal form or ATM or cheque. The rate of interest varies from bank to bank and changes time to time. |
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