What is meant by current account

A current account is a type of bank account designed for businesses, professionals, and entrepreneurs who need to carry out frequent, high-volume transactions. Unlike savings accounts, it offers high liquidity and unlimited daily transactions, including deposits and withdrawals. Key features include:

• Tailored for business entities like firms, trusts, and companies.
• Generally does not offer interest on the balance.
• Provides facilities like overdrafts, chequebooks, and high transaction limits.
• Requires a higher minimum average balance compared to savings accounts to manage daily operational needs.