Savings Account - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

Savings Account

Description:

The saving account is generally opened in the bank by salaried persons or by the persons who have a fixed regular income. The facility is also given to students, senior citizen, pensioners and so on. – PowerPoint PPT presentation

Number of Views:2222
Slides: 7
Provided by: mehrasonia543
Category: Other

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Savings Account


1
Savings Account
2
What are Savings Account
  • Commercial Banks, Co-operate Banks and Public
    Sector Bank accepted deposits by way of operating
    savings account with them
  • The saving account is generally opened in the
    bank by salaried persons or by the persons who
    have a fixed regular income. The facility is also
    given to students, senior citizen, pensioners and
    so on

3
Savings Account in India
  • Savings accounts are opened to encourage the
    people to save money and collect their savings.
  • In India, savings account can be opened by
    depositing Rs 100 to Rs 5000. The saving account
    holder is allowed to withdraw money from the
    account as and when required.

4
Features of Savings Account
  • The money can be withdrawn either by cheque or
    withdrawal slip by the respective bank.
  • The rate of interest payable is very nominal on
    saving accounts. At present it is between 4 to
    6 p.a. in India. Some banks provide 7 rate of
    interest.
  • Saving account is of a continuing nature. There
    is no maximum period of holding.

5
Facilities provided by Savings Account
  • Electronic clearing System (ECS) or E-Banking are
    available to pay electricity bill, telephone bill
    and other routine household expenses.
  • Generally equated monthly installments (EMI) for
    housing loan, personal loan, car loan, etc., are
    paid (routed ) through the saving bank account.

6
(No Transcript)
About PowerShow.com