The bank current account has a lot of features that make for a great investment with multiple transactions. Although this account is most useful for business and professional individuals, they also make a great choice for those who want to have easy bank transactions along with various other features. So before you think of taking the ideal steps to open a current account, here are the different features you can avail of in this account.
Easy Bank Transactions
The bank current account offers a lot of beneficial features when compared to the other bank accounts. In order to stay apart from its competitors, banks are now offering value added services at a beneficial price to those who would want to open a current account or even switch to it. Since this account does not normally pay account holders any interest, banks are promoting a lot of promotions and features with this account type. When you open this account, you can enjoy features like 24 hours phone banking, door step banking, internet banking and mobile alert services. In addition to this, you can also enjoy the facilities of free pay orders, demand drafts and the facility to transfer funds using NEFT/RTGS. Some banks also offer a zero balance account therefore there you do not have to worry about any penalty for maintain funds in the account that is below the accepted value. Apart from this, the other service include free inward remittances, deposits and withdrawals at any location, multi-location transfer, periodical statements and personal relationship managers to cater to your requirements.
Helps Prove Your Credit Worthiness
The bank current account is an ideal way to prove your credit worthiness. This is an ideal way to build and protect your credit score especially if you have an account in a reputed bank. When you open a current account and operate it facilitating this process. During the application for any loan or borrowed credit, you can show this account as form of proof of your credit. Alternatively, this credit worthiness can also be proved through thee interbank connections. Certain individuals like those in business of export and import can issue a letter to foreign businesses and parties stating this account as a proof of creditworthiness.
Benefit Of Overdraft Facility:
Another important benefit of having a bank current account is the overdraft facility. Through this facility, the account holder can withdraw more than the funds invested in this account on a temporary basis. Although this might plunge the account into a shortfall, there will be no penalty charged for this account. This short term borrowing has a lot of benefits, especially since it is not available in other bank accounts. In this way, the current account can help in meeting your emergency short term need for money.
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