Difference Between Current And Saving Account In Pakistan is going to share here at this page that means you will be authorize to know these differences.
Most of the people who are connected to any business field are familiar with the current account. It that type of bank account that allows you to deposit your money and withdraw when needed without any notification from ATM card, Debit card, or through Cheque. Many banks offer an attractive rate of interest to current account on the very high level of payments. Many other facilities are also given to you on the current account such as internet banking, direct debits, and transfer and overdraft facility and so on. A current account is also called Demand Deposit Account or Transactional Account.
Difference Between Current And Saving Account In Pakistan
Saving account is a deposit account or basic type of account in a bank whose purpose is to encourage the people for savings. Saving account does not have any maturity or end date until the account holder wants to close the account. Many banks take into account your daily average balance. On saving account bank also offers some rate of interest on deposit amount but in the current account, there is no concept of interest. For further detail regarding current and saving account must read the key difference listed below, will surely clear your point.
Difference Difference Between Current And Saving Account In Pakistan:
Following are the main points which help us to differentiate between both current and savings account.
|The current account is a deposit account which is used for current payments||Saving account is a deposit account in which only savings and investments are made.|
|Current Account is a deposit account in that help individual in money transaction frequently||Saving account is deposit account in bank that energizes savings of an individual|
|The purpose of the current account is to help the individual which are involved in more than one transaction for business||Purpose of saving account is to encourage people to save their money, salaries etc|
|In current account, there is no type of interest||Saving account offers some rate of interest on deposit amount.|
|In current account there is a facility of overdraft is available||Facility of overdraft is not available in saving the account|
|In current account, Passbook is not issued to companies of businesses||saving account passbook is issued to individuals|
|There is no limit on transactions of current account||Bank not allowed unlimited free transactions|
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