CASA stands for Current And Savings Account.
|Full Form||Current And Savings Account|
|Category||Business » Banking|
What is CASA?
A Current and Savings Account, also known as a CASA, is an account that allows you to save your money while it is still available to you. A CASA lets you borrow against the deposited money and pay back the loan over time. This is different from a traditional bank account, where the deposited money is locked up until you withdraw it.
There are many benefits to having a CASA account. Some of the benefits include:
-You can access your money whenever you want. With a traditional bank account, you have to wait until your money is transferred out of the bank and into your own personal account. With a CASA account, you can access your deposited money immediately.
-You can borrow more money than you would be able to borrow with a traditional bank account. With a CASA account, you can borrow up to 100% of the deposited amount. With a traditional bank account, you are limited to borrowing 50% of the deposited amount.
-You can get loans in multiple currencies. With a traditional bank account, you can only get loans in your own country’s currency. With a CASA account, you can get loans in any currency that is accepted by the bank.