Savings Account And Current Account

1. Savings Account & Current Account Bank Of Maharashtra bankofmaharashtra.in

2. Whoa! Both the savings account and the current account have benefits and drawbacks. We'll go over both advantages and disadvantages here. bankofmaharashtra.in

3. Introduction Savings account are for salaried persons and the current accounts are for business personals. bankofmaharashtra.in

4. Table of contents 01 02 Advantages Advantage of both savings and current account Disadvantages Disadvantage of both savings and current accounts 03 Opening How to Open Savings and Current accounts. bankofmaharashtra.in

5. 01 Advantages Savings & Current Accounts bankofmaharashtra.in

6. Savings Account Provides interest for the amount deposited The required minimum balance is low and even zero balance account can be opened Good place to invest your savings. ● ● ● bankofmaharashtra.in

7. Current Account ● There is no limit for transaction. You will not be charged for transactions, Limitless Transaction. No limit on Daily Withdrawal and Deposit. Enable Business man to make direct payments using cheques, drafts, or pay order ● ● bankofmaharashtra.in

8. 02 Disadvantages Savings & Current Accounts bankofmaharashtra.in

9. Savings Account Interest Rate Can change- One important disadvantage of a savings bank account is that the interest rates offered by the bank are variable. This means that the bank has the right to make changes to the interest rate. Fine will be taken if there is no monthly average minimum balance. The number of transaction is limited, if it exceeds then fine will be taken. ● ● ● bankofmaharashtra.in

10. Current Account ● ● ● ● The required minimum balance is high. There is no interest for the amount deposited. High cost on additional bank charges Bill payment cannot be automated bankofmaharashtra.in

11. 03 Account Opening Procedures bankofmaharashtra.in

12. Savings Account Proof of Identity and age Proof of residence Photographs Senior citizenship card ● ● ● ● bankofmaharashtra.in

13. Current Account ● ● ● ● Proof of identity Proof of residence Color photographs Pan card copy bankofmaharashtra.in

14. Conclusions Both savings account and current account have its advantage and disadvantages. bankofmaharashtra.in

15. Thanks! CREDITS: This presentation template was created by Slidesgo, including icons by Flaticon, infographics & images by Freepik, and illustrations by Storyset bankofmaharashtra.in