Day: May 17, 2023

A current account and a savings account are two distinct types of bank accounts that serve different purposes. While both are offered by banks in India, they differ in various aspects. In this article, we will discuss the five differences between a current account and a savings account. Purpose A savings account is designed to help customers save money, earn interest on their deposits, and use the funds for personal expenses. The primary objective of a savings account is to encourage saving and discourage excessive spending. On the other hand, a current account is specifically meant for business transactions. Current accounts are used by businesses, companies, and entrepreneurs for their daily financial transactions, such as paying suppliers, receiving payments from customers, and mai...