What is different between salary and saving account ?
person
brightness_auto
A salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. However, these accounts may have restrictions on the number of withdrawals, minimum balance, and other features.
In short, the main differences between a salary account and a current account are:
- Purpose: A salary account is meant to receive regular salary credits, while a current account is used for business-related transactions.
- Features and Benefits: Salary accounts often come with specific benefits provided by the employer or bank, while current accounts offer features like higher transaction limits and overdraft facilities.
- Account Usage: Salary accounts are used for personal banking transactions, while current accounts are used for business-related activities.
It's important to consult with the respective bank or financial institution to understand the specific features and terms associated with each type of account.
- Purpose: A salary account is meant to receive regular salary credits, while a current account is used for business-related transactions.
- Features and Benefits: Salary accounts often come with specific benefits provided by the employer or bank, while current accounts offer features like higher transaction limits and overdraft facilities.
- Account Usage: Salary accounts are used for personal banking transactions, while current accounts are used for business-related activities.
It's important to consult with the respective bank or financial institution to understand the specific features and terms associated with each type of account.
14 Answers
A salary account and a current account are two different types of bank accounts that serve different purposes.
A salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. However, these accounts may have restrictions on the number of withdrawals, minimum balance, and other features.
On the other hand, a current account is a type of bank account that is primarily used for business transactions. Current accounts are designed for frequent and large transactions, and they typically offer features such as overdraft facilities, higher transaction limits, and online banking facilities. These accounts usually require a higher minimum balance to be maintained, and they may have charges for certain transactions and services.
In summary, a salary account is meant for receiving salary payments and may have certain restrictions on withdrawals and other features, while a current account is meant for businesses and offers more flexibility for frequent and large transactions
A salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. However, these accounts may have restrictions on the number of withdrawals, minimum balance, and other features.
On the other hand, a current account is a type of bank account that is primarily used for business transactions. Current accounts are designed for frequent and large transactions, and they typically offer features such as overdraft facilities, higher transaction limits, and online banking facilities. These accounts usually require a higher minimum balance to be maintained, and they may have charges for certain transactions and services.
In summary, a salary account is meant for receiving salary payments and may have certain restrictions on withdrawals and other features, while a current account is meant for businesses and offers more flexibility for frequent and large transactions
A salary account is a type of bank account that an employer opens for their employees to credit their salaries. It usually has a lower minimum balance requirement and offers limited or no overdraft facilities.
A current account is a type of bank account typically used by businesses to carry out day-to-day transactions. It usually has a higher minimum balance requirement and offers overdraft facilities, as well as other features such as cheque books and internet banking.
A salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. However, these accounts may have restrictions on the number of withdrawals, minimum balance, and other features.
Salary accounts are used by employees to receive payment while current account are accounts used by traders and entrepreneurs who do many daily transactions.
a current account is a type of bank account that is primarily used for business transactions. Current accounts are designed for frequent and large transactions, and they typically offer features such as overdraft facilities, higher transaction limits, and online banking facilities. These accounts usually require a higher minimum balance to be maintained, and they may have charges for certain transactions and services.
Salary accounts are used by employees to receive payment while current account are accounts used by traders and entrepreneurs who do many daily transactions.
a current account is a type of bank account that is primarily used for business transactions. Current accounts are designed for frequent and large transactions, and they typically offer features such as overdraft facilities, higher transaction limits, and online banking facilities. These accounts usually require a higher minimum balance to be maintained, and they may have charges for certain transactions and services.
current account is a type of bank account that is primarily used for business transactions. Current accounts are designed for frequent and large transactions, and they typically offer features such as overdraft facilities, higher transaction limits, and online banking facilities. These accounts usually require a higher minimum balance to be maintained, and they may have charges for certain transactions and services.
salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. However, these accounts may have restrictions on the number of withdrawals, minimum balance, and other features.
A salary account is a type of bank account that is typically opened by an employer for their employees to receive their monthly salary. These accounts usually come with special benefits such as zero balance requirements, higher withdrawal limits, and discounted fees on certain transactions. they are different.