Saving account is the deposit on which the bank no doubt, pays interest but a condition is attached that the amount can be withdrawn from the amount twice a week only. Moreover, a limited amount of money can be withdrawn at a time.
The person who desires to open a saving bank, fills a prescribed form of the bank having rules and regulations of the banking. The prospective amount holder fixes his signature as specimen. After every six month, the bank sends him the detail of deposited and withdrawals during this period called "Bank Statement." The account holder can withdraw money through writing a cheque. Savings accounts are preferred to maintain by service people and the wage earner. These accounts also inculcate saving habit amongst the people.
The person who desires to open a saving bank, fills a prescribed form of the bank having rules and regulations of the banking. The prospective amount holder fixes his signature as specimen. After every six month, the bank sends him the detail of deposited and withdrawals during this period called "Bank Statement." The account holder can withdraw money through writing a cheque. Savings accounts are preferred to maintain by service people and the wage earner. These accounts also inculcate saving habit amongst the people.
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