The bank account: What is the difference between a savings account and a current account? Find out which one is best for you.


The bank account: Nowadays everyone has a bank account. You must have a bank account. In such a situation whenever you go to open an account in the bank you are given an application form and along with filling this application form you also have to submit some important documents. After this your bank account will be opened.

You must have seen that many types of accounts can be opened in the bank. There are various types of accounts such as current account savings account salary account etc. In such a situation whenever you are withdrawing money from the ATM you are also given the option to choose an account. How many types of bank accounts are there?

Savings Account

A savings bank account is also known as a savings bank account. A savings account is very beneficial for the common man. If you open a savings account in the bank it encourages you to save.

In a savings account you can deposit a large fund by making a small amount every month. Banks give you 4 to 6 percent interest on the amount deposited in the savings account. The rate of interest is decided by the banks themselves.

A current account is also opened in the bank which is also known as current account. Current account is mostly opened for business people. This account is opened by people who keep doing most of the transactions. People whose transactions continue.

He opens a bank account. It is considered good for regular transactions. Current accounts in banks are mostly of business organization firms. No interest is paid on the amount deposited in this account. It is mostly opened by traders who keep transacting money every day.

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