| Savings Account | Current Account |
| 1. Meaning | A savings account is a type of bank account meant for any individual for safe keeping of his money and for making savings. | A current account is a type of bank account meant for a businessman or a firm or commercial organisations for facilitating regular trading operations. |
| 2. Facilities | The facilities of overdraft and cash credit Eire not given to the saving accountholders. | Overdraft and cash credit facilities are given to the current accountholders only. |
| 3. Suitability | Saving account is suitable for regular income earners and salaried or wage earners. | Current account is suitable for traders, businessmen, commercial organisations and institutions. |
| 4. Restrictions on withdrawal | There are certain restrictions on the number of withdrawals and the amount to be withdrawn at a time. | There are no restrictions on withdrawal of money from this account as long as there is balance in the account. |
| 5. Interest | Interest at low rate is credited monthly, quarterly, half yearly and yearly basis in this account. | No interest is paid in this account. |
| 6. Documents | The documents like passbook, balance on SMS, account statement, etc. are provide in this account. | Banks provide monthly statement of account every month in this account |
