What is individual current account

An individual current account is a transactional bank account designed for personal use by a single account holder. Unlike savings accounts, it prioritizes liquidity and high transaction volumes, making it ideal for self-employed professionals, freelancers, and sole proprietors. Key features include:

• Single Ownership: Owned and operated by one individual with exclusive control.
• High Transaction Limits: Offers higher limits for cash deposits and withdrawals compared to savings accounts.
• No Interest: Typically, these accounts do not earn interest on the maintained balance.
• Overdraft Facility: Provides a short-term financial cushion for managing cash flow gaps.