tha two similarities and differences saving account and current account
Answers
Answer:Savings Account
Savings account as the name suggests, is for saving your money for a long term. Here are some of the most prominent features of a savings account:
In this account, there is a fixed interest earned on that you deposit.
The minimum balance in savings account is lesser compared to current account.
Interests deposited by banks are beneficial for future Emergencies.
Current Account
Current account is usually an account opened when there would be frequent transactions involved. Some of the features include:
Current account is for making quick transactions.
They come with a myriad of facilities like overdrafts, no limit on withdrawals or deposits and more.
There is no limit on number of transactions
Features are suitable for business purposes
Explanation:
Interest No Interest earned Earn Interest on your savings
No. of Transactions Unlimited transactions Limited number of transactions