intoduce yourself current account and savings account difference demand draft

Question

Accepted Answer

I am a Probationary Officer. I have knowledge about current and savings account and demand draft.

My name is [Name] and I am a Probationary Officer.
A current account is mainly for business transactions while a savings account is for personal use.
A demand draft is a negotiable instrument used to transfer money from one bank account to another.
Current accounts usually have higher transaction fees and require a higher minimum balance than savings accounts.
Demand drafts are often used for large transactions such as buying a house or a car.
Savings accounts usually offer interest on the balance while current accounts do not.

Accepted Answer

Saving account balance amount current account higher transaction business amount

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