What is the meaning of CASA?
Current Account and Savings Account or CASA is a term generally used in West Asia and South-east Asia. It stands for the money which gets deposited in the current and savings accounts of customers of the bank. There are two types of accounts offered by banks, namely the term deposits and the non-term deposits. While former stand for fixed deposits or recurring account, the latter usually include the current and the savings account.
CASA thus forms the major source of funds for the banks. Also, the savings portion of CASA gives more interest as compared to the current accounts. CASA is also considered as an indicator of the financial health of a bank.