What is saving account and current account

A savings account is a bank account designed for individuals to store money safely while earning a modest interest on their balance. It is ideal for building an emergency fund or saving for personal goals. In contrast, a current account is a transactional account primarily used by business owners and entrepreneurs. It allows for a high volume of frequent deposits and withdrawals without limits, though it typically does not offer interest. While savings accounts often have lower minimum balance requirements, current accounts offer flexibility and features like overdraft facilities to manage daily business operations.