Current accounts are widely used among firms, businessmen, companies etc., who make a huge number of
regular transactions depending upon their business requirements. While savings account helps in
savings, current account aids in having transactions on a regular basis.
Some of the documents that are required are:
Some banks confine to offering a limited number of transactions for free of cost, post to which
fees will be charged
Demand draft fees
Fees are charged for issuing demand drafts by some banks
Charges for non-maintenance of minimum balance
Current account usually demands a minimum balance and any person who is not having this minimum
balance will be charged with certain fees.
Overdraft processing fees
Overdraft is one of the primary advantages of the current account. Some banks charge a minimum amount if fees for issuing this facility to your account.
Most of the banks provide current account under the supervisory of Islamic principles approved by Shari’a and Supervisory board. Banks also offer free debit cards, internet banking, SMS banking etc.,