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Types of accounts offered by commercial banks

Answer Text:
TYPES OF ACCOUNTS OFFERED BY COMMERCIAL BANKS
Current accounts:
-This is an account where money deposited can be withdrawn on demand by the customer by means of a cheque
-This means that money can be withdrawn at any time during the official working hours so long as
the account has sufficient funds
Savings Account(deposit account):
This is an account operated by individuals and firms that have money to save.
Fixed Deposits Accounts:
This account is also known as time Deposit account. It is maintained by those who have money not meant for immediate use.