Saving Account & Current Account

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Savings Account
Current Account
Bank Of Maharashtra
bankofmaharashtra.in
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Whoa!

• Both the savings account and the current account
  have benefits and drawbacks. We'll go over both
  advantages and disadvantages here.

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• Introduction

• Savings account are for salaried persons and the
  current accounts are for business personals.

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Advantages
Disadvantages
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Opening
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Table of contents
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• Advantage of both savings and current account

• Disadvantage of both savings and current accounts

• How to Open Savings and Current accounts.

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Advantages
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• Savings Current Accounts

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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.

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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

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Disadvantages
02

• Savings Current Accounts

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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.

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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

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Account Opening Procedures
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Savings Account

• Proof of Identity and age
• Proof of residence
• Photographs
• Senior citizenship card

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Current Account

• Proof of identity
• Proof of residence
• Color photographs
• Pan card copy

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Conclusions

• Both savings account and current account have its
  advantage and disadvantages.

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Thanks!
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