Mention the types of bank account and advantages of opening a bank account.

Types of bank account:

• Current account
• Saving account
• Fixed Deposit account

Advantages of opening a bank account:

• It will be easy to deposit or withdraw money in need.
• It will be easy to send or receive money from once place to another.
• Certain amount of interest can be obtained from the deposited money except in current account.
• There will be chance of loss or theft of money if kept at home. So, if there is bank account, money can be safely kept in the bank even for short period of time.
• If the bank makes the policy of disturbing its profit to its account holders, unprecedented profit can be gained.