Commercial Applications
Which account holder gets Overdraft facility?
- Saving Bank account
- Current account
- Recurring deposit
- Fixed deposit account
Banking
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Answer
Current account
Reason — Current Account is generally opened by business firms. Pass book, cheque book and overdraft facility are available on a current account. Money can be deposited and withdrawn any number of times. The bank pays no interest, but charges a small fee. Overdraft facility is NOT available on Savings, Recurring or Fixed Deposit accounts.
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