Distinguish between:Current account and saving account – InterviewSolution

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1.

Distinguish between:Current account and saving account

Answer»

Basis	Current account	Savings account
Definition	Current accounts are those accounts which facilitate their consumers to carry out day to day transactions.	Savings accounts encourage their consumers to save.
Interest rate offered	These accounts offer minimal interest rates or no interest	These accounts offer comparatively higher interest rates.
Users	They are mostly created by big companies, businessmen, traders etc.	They are mostly created by the salary class, farmers etc.
Overdraft facility	This facility is available for a current account.	This facility is not available for a savings account.

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