What is current deposit account

A current deposit account is a non-interest-bearing demand deposit account designed for businesses, professionals, and entities with high-volume daily transactions. Unlike savings accounts, it offers significant liquidity with no limits on the number of deposits or withdrawals. Key features include:

• Overdraft facilities to meet short-term cash requirements
• High daily transaction limits for cash and digital payments
• Access to business banking tools like chequebooks and corporate internet banking
• Standard requirement to maintain a higher monthly average balance (MAB)

It is ideal for managing operational expenses and professional financial activities efficiently.