What is the meaning of current account

A Current Account is a non-interest-bearing bank account designed for businesses, professionals, and entrepreneurs who handle high volumes of daily transactions. It offers high liquidity, allowing for unlimited deposits and withdrawals without prior notice.

• No interest is paid on the maintained balance.
• Higher transaction and cash handling limits compared to savings accounts.
• Provides access to overdraft facilities to manage working capital.
• Ideal for firms, companies, and traders to facilitate seamless payments via cheques and digital transfers.