Answer / ravi kiran

saving bank account is use for a stipulated period and with
a specified percentage of interest,the interest and be fixed
or fluctuating.

current account is mostly used by business men or people who
have to deposit and withdraw money on daily basis.

Answer / name

And the major difference between saving and current account
is that there is no interest payable in current account but
there is interest payable in saving account.

Answer / yash

saving a/c : in the saving a.c money withdrawel
limitation . the bank is given interest on ur money
deposits @3.5% and restricted the again & again money
withdrawel
current a/c : in the current a.c no limitation on withdrawl
& deposits bank is not given interest on our money deposits
but banks also charged on that a/c

Answer / aswin

savings account:Interest will be paid and the number or
transactions are limited.


current account:Interest will not be paid,and is mainly used
by the people who makes daily transactions especially
business men.Money can be transferred directly through
cheques,and overdraft facility is available.

Answer / m.j. subramanyam

A savings bank account, as the name implies is mainly
intended to facilitate savings of money earned. That is
small depositors can park their liquid money in this
account. In view of this, the number of withdrwal will be
limited. This type of account is useful for salaried and
low income group of people who whould like to save some
amount every month for their future emergencies. The bank
gives a nominal rate of interest based on the minimum
balalnce mainatained between 10th and last day of the
month. Transactions will be less as the main purpose of
this account is to save money for future requirements.

On the other hand, current acccount, also called
transaction acccount, is preferred by business people as
the number of deposits and withdrawals are unlimited.In
view of this, the bank pays no interest on this account as
it maintains customer's account for him. Since no
restrictions are placed on the number of withdrwals as well
on deposits in a day, this is best suited to the needs of
businessmen. Once in a quarter or half year, incidental
charges are collected by the bank. Individuals can also
open this type of account, but they will not get any
interest on this type of account. So salaried and low
income people open savings bank account.

Banks normally do not allow clubs, asscoiations, trusts, to
open savings bank accounts as they are not in the nature of
savings account.
M.J. SUBRAMANYAM, BANGALORE

Answer / vandana

A deposit account held at a bank or other financial
institution that provides principal security and a modest
interest rate. Depending on the specific type of savings
account, the account holder may not be able to write checks
from the account (without incurring extra fees or expenses)
and the account is likely to have a limited number of free
transfers/transactions. Savings account funds are
considered one of the most liquid investments outside of
demand accounts and cash.

The net flow of current transactions, including goods,
services, and interest payments, between countries.

Answer / sudheer

saving bank accounts are maintained by private individuals
as well as retail financial institutions...
current bank account is designed specially for business
community
saving bank account holder as 2 maintain minimum cash
balance..where there is no need of maintaining minimum
balance for current account holder.
no overdraft facility is available 4 saving account
holder...overdraft facility is available 4 current account
holder.

Answer / afsal hussain

Saving Bank A/c is maintained by Individuals for money
saving purpose with a stipulated interest. And limired by
the withdrawal amount.
Current Bank A/c is for Business Organizations/Businessmen
for the transaction on daily basis. No interest is allowed
and not restricted on withdrawal limit.

Answer / remya

savings account :
A savings account is one in which we can deposit our
money, but there is a limitation on the number of
transactions (Both credit and debit). we will receive a
nominal interest rate of around 4% per year on the minimum
monthly balance you maintain in your account.
current account:
we can have unlimited number of transactions on our
account. Also we do not receive any interest on our deposit
money.These type of account is used for business
transactions puposes only.

Answer / bikash nayak

current a/c : it is made for the business men for smooth running of business by collecting money instantly from the customer as well make payment to the creditors . no interest paid on such a/c .

saving a/c : it is made for the general people . it can open by jointly as well as single . but most of the people prefer the single . interest is paid half yearly in india and also RBI stipulated that minimum int. is 4% .

in both cases cheque book and overdraft facility available

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