Service of Transaction Deposit
Commercial bank is a profit
seeking the business firm, dealing in the money and credit . it is financial
institution dealing in money in the sense that it accept deposit of the money
from the public to keep them in its custody for safety. Bank create credit by
making advance out of the fund receive as deposits to need people. It thus,
function as a mobile of saving in the economic. And can help the poor people to
growth up with new job and invest. The bank is very important for the trader
and investor especially area people. For the bank there are many service in the
bank but now I will show the special service and function that microfinance and
banking usually use it for operation and invest the money.
There
are 4 type of Deposit:
1.
Current
Deposits: these deposit can be withdraw at any time. Generally, no interest is
allowed on current deposits. These deposit are kept by businessmen and
industrialist who receive and make the large payment through bank. And show
the benefit from these service of
current account: