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Banking Company Accounts-3 Video Lecture | Advanced Corporate Accounting - B Com
FAQs on Banking Company Accounts-3 Video Lecture - Advanced Corporate Accounting - B Com
| 1. What are the different types of accounts offered by banking companies? |  |
Ans. Banking companies offer various types of accounts such as savings accounts, current accounts, fixed deposit accounts, recurring deposit accounts, and demat accounts.
| 2. How can I open a bank account with a banking company? | |
Ans. To open a bank account with a banking company, you need to visit the nearest branch with the required documents like identity proof, address proof, and photographs. Fill out the account opening form and submit the necessary documents for verification.
| 3. What are the benefits of having a savings account with a banking company? | |
Ans. Having a savings account with a banking company allows you to earn interest on your deposited money, provides safety and security for your funds, enables you to easily manage your finances through online banking, and offers convenient access to ATMs.
| 4. How does a current account differ from a savings account with a banking company? | |
Ans. A current account is primarily used for business transactions and does not provide interest on deposits, whereas a savings account is meant for personal savings and offers interest on the deposited amount.
| 5. Can I have multiple accounts with the same banking company? | |
Ans. Yes, you can have multiple accounts with the same banking company, including different types of accounts like savings, current, and fixed deposit accounts.
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