Question

Q. 2. Distinguish Between the following:
1. Current account & Savings account​

Answer 1

Answer:

current account:-

1. current account refers to an active account which is meant for day to day monetary transaction.
2. Suitable for business man.
3. Interest not paid.
4. withdraw unlimited.
5. High amount is required for opening a current account.
6. Passbook is not issued.

Saving account:-

1. Saving bank is an account for individuals who like to save for meeting their future financial needs.
2. Suitable for individuals.
3. Interest paid.
4. withdraw limited.
5. Less amount is required to open a savings bank account.
6. passbook is issued.

Explanation:

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