A current account is an account for day-to-day use, will often be used by individuals, businesses and financial institutions around the world as a means of keeping liquid funds available for making necessary payments and withdrawals. Two or more people can set up a current account together and call it a joint account. Cheque book facility is provided and the account holder can deposit all types of the cheques and drafts in their name or endorsed in their favour by third parties.
A basically meant for businessmen and are never used for the purpose of investment or savings. No interest is paid by banks on these accounts. On the other hand.
A savings account is a deposit account held at a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange,We offer best savings account interest rates at 4% .
These accounts let customers set aside a portion of their liquid assets while earning a monetary return.
In This Scheme, Customers Should Deposit 10gms Or More 24carat Gold At
Vardhman Nagari Sahakari Pathsanstha, Aurangabad.
After The Completion Of A 12months Customer Will Get An Extra 4% 24carat Gold On The Deposited Gold.
E.G. 100gms Gold Deposited By Customer + 4gms Additional Gold Paid By Vardhman Nagari Sahakari Pathsanstha, Aurangabad = Total 104gms Gold Will Be Received By The Customer At The Time Of Closure.
Pigmy Deposit Scheme is a monetary deposit scheme introduced by Vardhman Nagari Sahakari Pathsanstha, Aurangabad
Money can be deposited into an account on daily basis. The amount may be as small as Rupees five. It can be called a recurring deposit scheme, as the money is deposited almost daily. The unique characteristic of this scheme is that a bank agent collects the money daily, from the account holder's doorstep.