Current Account

What is difference between current and savings account

The primary difference between a current account and a savings account lies in their purpose and features:
  • Purpose: Savings accounts are designed for individuals to save money and earn interest, while current accounts are meant for businesses and professionals to handle frequent, high-volume transactions.
  • Interest: Savings accounts offer interest on deposits, whereas current accounts typically do not provide any interest.
  • Transaction Limits: Savings accounts have limits on monthly withdrawals, but current accounts offer unlimited transactions.
  • Overdraft: Current accounts often provide overdraft facilities, which are generally not available for savings accounts.

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