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Genre: Education
Uploaded At Aug 4, 2024 ^^
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RYD date created : 2024-09-15T16:46:26.158326Z
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Top Comments of this video!! :3
In India, the checking account is also known as current account. As for the high yield savings account, we have something called fixed deposits.
But we have debit cards linked to our savings account, which is quite useful if you are employed (for unemployed folks, holding a debit card can be problematic as debit card subscription fees can eat away at your static savings as compared to the interest you earn on your savings account). Also, we can use money from our savings account for everyday spendings, so it's very convenient.
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This is genuinely very interesting to learn cuz in India weāve got a Savings account in which we GET a DEBIT CARD, a Current account wherein thereās no limit on daily trading cuz itās meant for businesspeople, and many more.
But the equivalent of a āCheckingā account for us is not there, usually the bank where you have a savings account open will offer a CREDIT CARD to you.
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@goharsguide
1 month ago
almost always, you'll open both at the same time! just wanted to highlight the difference
4.6K |