Saving Accounts: Do You Know How Many Types Of Bank ‘Saving Accounts’ There Are?

How Many Types Of Bank ‘Saving Accounts’

There are many types of bank savings accounts, 6 types of savings accounts can be opened in the bank, The complete details of savings accounts are as follows – Hello And Welcome Friends I hope Your Good And enjoying Our Previous InsurancePersonal Finance and Etc.

Saving Accounts: Nowadays Everyone Has A Bank Account. Many People Know Savings Account And Current Account. However, Many People Do Not Know That There Are Many Different Types Of Savings Account. Anyone Can Open A Savings Account Following The Rules. There Are Many Types Of This Account. Now Let Us Try To Know The Complete Details Like The Types Of Savings Accounts And Their Benefits.

How Many Types Of Bank 'Saving Accounts'
How Many Types Of Bank ‘Saving Accounts’

Saving Accounts

If You Save Now, You Will Be Able To Meet Your Future Needs Without Any Problems. The Main Purpose Of A Savings Account Is To Develop The Habit Of Saving. These Savings Accounts Can Be Opened By Any Eligible Person Following The Rules. However, Most People Only Know That Banks Have Two Savings Accounts And Current Accounts. But it is Not Known That There Are Many Types Of Savings Account Itself. Now Let Us Try To Know About The Types Of Savings Accounts Their Benefits.

General Savings Account

Nowadays Everyone Has A Regular Savings Account. As Per KYC Norms One Can Open This General Savings Account By Providing Personal And Address Proof Documents In The Bank. A Minimum Cash Balance Has To Be Maintained in These Accounts. In This Way, Banks Provide A Small Interest On The Money Stored In The Savings Account.

Salary Savings Account

Private and Government Organizations Open Salary Savings Accounts For Their Employees. They Deposit The Salary Of Their Employees In These Accounts On A Monthly Basis. There Is No Need To Maintain A Minimum Balance In These.

Family Savings Account

Instead Of Opening A Bank Account For One Person.. One savings Account Can Be Opened For The Whole Family. All Family Members Can Operate This Savings Account. Terms And Conditions Are Same As Regular Savings Account.

Minor’s Savings Account

Parents or Guardians Can Open These Savings Accounts For Children Below 10 Years Of Age When They Need A Bank Account. Children Above 10 Years Of Age Can Operate Their Own Account. After The Child Turns 18, This Account Is Converted Into A Regular Savings Account.

Zero Balance Savings Account

This Zero Balance Savings Account Works Like A Normal Savings Account. But There Is No Need To Maintain A Minimum Balance. There Are Limits On Withdrawal Amounts.

Women’s Savings Account

Banks Provide These Savings Accounts With Some Special Features For Women. Discounts Apply On Certain Purchases. Loans Are Provided At Low Interest Rates. There are no charges on Demat account. These Features Vary From Bank To Bank.

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