What is the difference current account and fixed account?
From India , Bangalore
Dear Deepthi
Current Accounts are accounts opened at banks by companies and individuals. They are running accounts,that is, used frequently by them to transact. Usually, the balance in that account does not earn any interest. There can be any number of deposits and withdrawals. On the other hand,
fixed accounts are accounts where the bank receives the deposits for a "fixed period or term". They are also called term deposits. The interest on these accounts are a bit higher than the savings account. The term or the period also are different and the interest are paid accordingly. Hope, this is of some use. God bless you.

From India , Bangalore

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