Question

difference between current account and saving bank account

Answer 1

Explanation:

saving account

1. A saving account is designed with the primary purpose to help you save.

2. This type of account allows the holder to deposit money as is convenient, on which the holder can earn interest.

3. A saving account may be opened by individual or jointly and requires the holder to usually maintain a pre - specified amount as minimum balance.

current account

1.current account derive their name from the purpose they are suited for regular transaction.

2.This type of account is more suited for users like firms,companies,public enterprise,business. etc.

3.current account do not earn any interest due to the fluidity they offer.