what is the difference between saving a/c and current a/c.?
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Answer / priyank kaushik
An account maintained by a customer with a depository
institution for the purpose of accumulating funds over a
period of time. Funds deposited in a savings account may be
withdrawn only by the account owner or a duly authorized
agent, or on the owner's nontransferable order. The account
may be owned by one or more persons.
Current A/c:- is an account for the commercial / business
segment users. It provide the facility of high monthly
transaction without any additional cost. It also provide
check book facility. Can be opened with an initial deposit
of Rs. 5000.
| Is This Answer Correct ? | 38 Yes | 6 No |
Answer / bhavesh suthar
A savings account is one in which you can deposit your money, but there is a limitation on the number of transactions (Both credit and debit) that you can perform on your account. You will receive a nominal interest rate of around 4% per year on the minimum monthly balance you maintain in your account.
A current account is similar to your savings account with a small difference. You can have unlimited number of transactions on your account. Also you do not receive any interest on your deposit money.
Savings accounts is for normal citizens and Current accounts are for businesses and organizations.
| Is This Answer Correct ? | 20 Yes | 0 No |
Answer / ningappa
An account maintained by a customer with a depository
institution for the purpose of accumulating funds over a
period of time. Funds deposited in a savings account may be
withdrawn only by the account owner or a duly authorized
agent, or on the owner's nontransferable order. The account
may be owned by one or more persons.
Current A/c:- is an account for the commercial / business
segment users. It provide the facility of high monthly
transaction without any additional cost. It also provide
check book facility. Can be opened with an initial deposit
of Rs. 5000.
| Is This Answer Correct ? | 20 Yes | 4 No |
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