Question

Q7. Distinguish between the following:
b. Savings and Current account.​

Answer 1

Answer:

While a Savings Account is one wherein you deposit your savings with the bank and earn interest on the same, a current account is one where you deposit money to carry out business transactions.

Answer 2

Answer:

A saving account is a account at a retailer bank whose features need the requirements that only a limited number of withdrawals can take place it has a limited transfer facilities and cannot be overdrawn

A current account is a account open by a businessmen who have a higher number of transactions with the bank