What is saving and current account

Savings and Current accounts are two primary bank account types in India catering to different financial needs. A Savings Account is designed for individuals to park their surplus funds, helping them save while earning interest on their deposits. In contrast, a Current Account is tailored for businesses and entrepreneurs to handle high-frequency daily transactions. While Savings Accounts typically have monthly transaction limits, Current Accounts offer unlimited transactions and overdraft facilities but usually do not provide any interest on the maintained balance.