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Answer» Differences between current accounts and savings bank accounts: | Current Accounts | Savings Bank Accounts | | 1. The minimum deposit required for opening current accounts is more. | 1. The minimum deposit required for opening savings bank accounts is less. | | 2. In the case of current accounts, there are no restrictions on withdrawals. | 2. In the case of savings bank accounts, there are restrictions on withdrawals. | | 3. Current account holders can get overdraft facilities. | 3. Savings bank account holders cannot get overdraft facilities. | | 4. Generally, no interest is allowed on current deposits. | 4. Fair interest is allowed on savings bank deposits. | | 5. Current accounts are operated only by cheques. | 5. Savings bank accounts can be operated either by cheques or by special withdrawal forms accompanied db by pass books. |
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