Question

what is the difference between current account and a savings account​

Answer 1

Answer:

saving account is for use people (need) but current account is always turn over in a per month (about 10000)

Answer 2

Hello Mate ♡

• Meaning A savings account is a deposit account which allows limited transactions, while a current account is meant for daily transactions.

• Suitability A savings account is most suitable for people who are salaried employees or have a monthly income, whereas, current accounts work best for traders and entrepreneurs who need to access their accounts frequently.

• Interest Savings accounts earn interest ata around 4%, while there is no such from a current account. ACurre actually a no interest - bearing de account.

• Overdrawing when you withdraw more money from the account, than is actually there, then your account is said to be overdrawn. In the case of a savings account, banks neither offer nor allow overdraft facilities, whereas, this facility is provided with a current account.

• Minimum balance The minimum balance required to maintaina savingsaccount is usually low, but fora current account it is much higher in comparison. This should clarify the differences in the purpose and function of Current Account and Savings Account.