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Banking > Basics > Deposits > Demand Deposits - Current Account

Current Account

Current account is an account with minimum amount of restrictions. Most individuals do not need this account. You need this account only if you make a number of deposits and withdrawals in a single day and many of the deposits are drawn on outstation banks. Banks accept deposits in current account and allow unlimited withdrawals subject to a minimum balance. This minimum balance differs from Bank to Bank. NO interest is payable on a current account. Opening of a current account is indicated in the case of a business enterprise or high worth individuals who deal with a lot of third party cheques, drafts etc. or who may at times need to borrow money from the Bank against some security.


  1. Choose a relatively larger branch of a Bank for your current account which can give additional services.

  2. To open an account, you will require a photograph and an introduction from a current account holder of the Branch. Look for such a person before going to the bank

  3. Most banks have a minimum deposit requirement. Select a Bank which asks for the least amount, other conditions being the same

  4. Insist on a cheque book in the first instance itself and count the cheque leaves.

  5. Store your cheque book carefully.

  6. Some Banks impose service charges on activities like issue of cheque book, issuance of statement of account, transactions in the account. Obtain a full schedule of service charges before opening the account.

  7. Avoid the Banks which impose service charges on transactions.


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