Question
Explain three main features of a current bank account.
✓
Answer
Features of current bank account.
The main features of a current bank account are as follows:
(i) Current bank account is opened to run a business.
(ii) It needs a higher minimum balance to be maintained as compared to the savings account.
(iii) It is a non-interest bearing bank account.
(iv) There is no restrictions on the number of transactions.
The main features of a current bank account are as follows:
(i) Current bank account is opened to run a business.
(ii) It needs a higher minimum balance to be maintained as compared to the savings account.
(iii) It is a non-interest bearing bank account.
(iv) There is no restrictions on the number of transactions.
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