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© 2019-2024, Karnataka Mahila Sahakara Bank Niyamitha
Designed and Maintained by - AHOBALA LIFETECH
Current Account Current bank account is opened by businessmen who have a higher number of regular transactions with the bank. It includes deposits, withdrawals, and contra transactions. It is also known as Demand Deposit Account. Features of Current Bank Account • Current bank accounts are operated to run a business. • Banker requires KYC (Know your Customers) norms to be completed before opening a current account. • The main objective of current bank account is to enable the businessmen to conduct their business transactions smoothly. • There is no restriction on the number and amount of deposits. • There is also no restriction on the number and amount of withdrawals made, as long as the current account holder has funds in his bank account. • Generally, bank does not pay any interest on current account. Nowadays, some banks do pay interest on current accounts.
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