Banks are an organized set of associations that are involved in paying on behalf of the bank customers who sometimes seek or lend money. Their prime role is to execute transactions involving huge sum of money and they earn income by charging rates of interest. Banking sector has grown since independence in India and has gained immense importance. Banks are crucial agents acting on behalf of its customers. The Banking sector is the most flourishing sector with the largest number of employment. Banks have become the regulatory bodies that decide several crucial policies related with the financial matters of the economy. It has become an integral part of the economy to an extent that the economy in the absence of financial institutions is almost handicapped. Whenever you think of managing your finances, the name of banks automatically comes into the mind. Such is their importance that they are located almost everywhere. No matter, if you are highly educated or an illiterate, you can easily rely upon the high profiled banks to take full control of your hard-earned money. They do charge nominal fees for the invaluable services rendered by them. Since the Indian population is scarcely distributed all over, the Indian government has ensured that even a rural man has an easy access to the banks. Fixed account comprises assets that are of fixed value and are accumulated over a period of time and after that, it can be withdrawn so in a way it is like a saving account. Savings account are nothing and they are being prepared for the unexpected expenses and unforeseen conditions in the future. The actual motive of opening a savings account is to be able to write off bad debts as soon as possible. A lot also depends upon your analytical skills and your budget plan to save the much needed money. Not all of us have the knack to save an appropriate amount of money for your better future. It gives an ATM card which allows easy access of your account anywhere in India. Current account normally meets the urgent monetary requirements, particularly of the business section of the society as most of the time, they are involved in regular transactions of money. Having such an account helps one to keep a track of his balance in the account or even inquire about important queries. In a way, the mobility factor of such an account is what attracts the businessmen.