Savings accounts and current accounts are two primary types of bank accounts offered to individuals and businesses. Both serve different purposes and are tailored to meet specific financial needs. The basic difference in this savings account vs current account debate is that current accounts are used for daily activities and usually don't yield interest, while savings accounts are intended for long-term savings and usually offer low interest rates.
What is the Difference Between Current Account and Savings Account?
A savings account is designed for individuals to save money while earning modest interest, depending on the bank. On the other hand, a current account is meant for businesses, traders, and professionals who deal with frequent and high-volume transactions.
Savings accounts | Current accounts |
Savings accounts are for personal savings | Current accounts are for business transactions |
Savings accounts earn interest between 2.5% to 4% per annum | Current accounts do not earn interest |
I hope this helps you understand the basic difference between current account and savings account.
Get Instant Loan of Up to Rs. 10 Lakhs with Minimal Documentation with NB InstaCash
Read more:
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
What is the Difference Between a Savings Account and a Current Account?
pragati
53 Views
1
32 days
2025-05-21T12:39:51+00:00 2025-05-21T13:03:32+00:00Comment
Share