A current account holder pays fees for services in form of

A current account holder pays fees for services in the form of bank charges. Bank charges refer to fees that a bank charges for providing its services such as maintaining the account, processing transactions, issuing checks, and providing overdraft facilities. These fees can be a monthly maintenance fee, a per-transaction fee, or a fee for exceeding the number of allowed transactions in a month. The bank charges are separate from the interest rate, which is the cost of borrowing money from the bank, and commission on turnover, which is a fee that a bank charges for handling transactions on behalf of the customer. The minimum lending rate refers to the minimum interest rate that a bank charges for lending money to its customers.