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The Rohika Central Co-Operative Bank Is A Co-Operative Institution Situated In Madhubani Bihar Established In 1909.
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Saving Bank Account
Saving Bank Account
A Saving Bank Account is a type of bank account that allows individuals to deposit and save their money while earning some interest on the deposited amount. It is one of the most common types of bank accounts available to individuals for personal banking needs.
The primary purpose of a Saving Bank Account is to provide a safe and secure place for individuals to store their money and earn a modest interest on the balance.
These accounts are typically designed for short-term savings and liquidity, which means that you can access your funds whenever you need them without any restrictions.
Some key features of a Saving Bank Account include:
Interest
Banks pay a certain percentage of interest on the amount deposited in the account. The interest rate varies from bank to bank and is usually lower than other types of investment options.
Withdrawals:
You can withdraw money from your Saving Bank Account whenever you need it through various channels like ATM withdrawals, online transfers, checks, or visiting the bank branch.
No Fixed Tenure
Unlike certain fixed-term deposit accounts, Saving Bank Accounts do not have a fixed tenure, allowing you to keep your money in the account for as long as you want.
Safety
Saving Bank Accounts are considered safe because they are typically insured by government deposit insurance schemes up to a certain limit, which protects your money in case the bank faces financial difficulties.
Convenience
Saving Bank Accounts provide easy access to banking services, such as bill payments, fund transfers, and other financial transactions.
