A saving account is an interest-bearing deposit account. Which is held at a bank or another financial institution that provides a modest interest rate? In contrast to savings accounts, checking accounts, which allow you to write checks and use electronic debit to access your funds, and checking accounts. It have typically do not have limits on the number of withdrawals or transactions, which you may make each month. Each month banks or financial institutions may limit the count of withdrawals, which you can make from your savings account each month
- The way in which your savings will grow is with a competitive interest rate.
- Withdrawals are allowed subject to certain restrictions.
- Saving account is of continuing nature. There is no maximum period of holding.
- No loan facility is provided against saving account.
- A minimum amount has to be kept on saving account to keep it functioning.
Terms and conditions apply *
The indicative rate of interest charged by various banks are given in table as below, however final rate may differ depending on the profile of individual and parameters of bank