Here’s are the Benefits of Call Accounts you need to consider

There are several accounts types available to businesses and individuals, but identifying which one best fits your needs is what matters. If you’re fortunate, your banker would walk you through each of them and help you make an informed decision. One of the accounts that it often not used by businesses, yet a very important one, is the call account.


A call account is like a current account that earns you interest. Call accounts allow you to deposit and withdraw at any time and yet provides you with interest on your average balance. Call accounts may vary slightly, though significant in the end, from one bank to another.

Some financial institutions have call accounts that restrict you from making withdrawals at anytime. You are expected to make withdrawals once in a specified period, say once a week or once in two weeks.

Others offer call accounts that require that a minimum average deposit be kept in order to earn the accompanying interest. When your average balance falls below the minimum threshold, you’re likely to lose the interest within that period.

The rate offered on call accounts isn’t as high as what you get on a fixed-term investment but some banks peg it above the rate on savings accounts.

The features of call accounts vary from one financial institution to another, and you have to explore all the types available on the market so you can choose one that best suits your business cash flow pattern.


The benefits of call accounts may be many but again, the features offered by your banker may allow you to tap all the benefits or limit you to just a few

  • Call accounts save you periodic bank charges that could eat into your finances if you’re a small business
  • It provides you with flexibility and does not put pressure on your financial plans
  • Call accounts earns you money while you’re able to use it as a current account

However you look at it, a call account is good for your business unless you’re not offered all the features of a call account.