A savings account is an interest-bearing deposit account held at a bank or other financial institution that provides a modest interest rate. Financial institutions that offer savings accounts may limit the number of withdrawals from an account each month. They also may charge fees unless you maintain a certain average monthly balance in the account. In most cases, banks do not provide checks with savings accounts.
Savings payments that are required as part of loan terms or as a requirement for membership, usually in a credit union, cooperative, microfinance institution, and village bank or savings group. Compulsory savings are often required in place of collateral. The amount, timing, and level of access to these deposits are determined by the policies of the institution rather than by the client.
An Orisun MfB Individual Current Account breaks down all your banking needs into simple and readily accessible products and services, giving you a convenient and value-adding banking experience.
A corporate account refers to an account that specializes in offering services for companies and offshore businesses. Its differentiation from personal and investment bank accounts lies on the fact that it provides services targeted directly to businesses.