Monday, 3 September 2018

What Is Difference Between Saving and current Bank Account ?

What Is Difference Between Saving and current Bank Account ?

This is Most important general question that's come in our mind frequently. we all are the connected with banking system. In banks there are various types of accounts are available. but the most popular accounts are only two, that is saving bank account and current bank account. But do you know what is the difference between saving and current bank account ? lets see-

difference between saving and current bank account.


Saving bank account
Current bank account
As name given this account is basically made for saving your money.
 
This account is made for the purpose of making frequent transitions.
You can earn more interest rate on your deposited money than current bank account.
 
There is no interest rate on your deposited money or very less interest rate.

Restriction of keeping minimum balance in account is very less as compared to current account. (it may also have zero balance accounts also.)
Minimum balance restriction in account is much higher than saving account.
There are restrictions on how many times deposits in account in specific period of time.
 
There are no restrictions on how many times deposits in account in specific period of time. You can deposit money any number of times.
 

It has also restrictions on withdraws of money.
There are no restrictions on withdrawals of money from current account.
Saving bank accounts having limit on no of transitions.
 
There is no limit
On no of transitions.
This account is suitable for general persons to save their earning in bank.
 
This account is suitable for businessman.
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