Question

Which type of account typically has very high liquidity, low or no interest, and low minimum balance?

Answer 1

Checking account or current account typically has very high liquidity, low or no interest, and low minimum balance. There are three deposit accounts in banks: the current or checking account, the saving account, and the deposit account. The current or checking account usually used for the daily transactional purpose. Therefore, there is low or no interest for the account.