InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Write in short about the savings bank account. |
|
Answer» Saving Bank Account is meant for the middle class and low-class income group persons. The motive of this account is to establish the habit of savings amongst these people. The bank also provides a cheque facility to the Savings Bank Account holder, but there should always be a minimum balance of Rs. 300 in the account. In this account, the depositor can withdraw and deposit money once in a day. Thus, it is suited to those who want to deposit their small savings in a bank, which they need to withdraw only casually, and not every now and then. The interest allowed on Saving Bank Deposit is lower than given of Fixed Deposit but higher than that given on Current Account. It is calculated on the lowest balance kept during the month. |
|