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Current account is that which has no profit while saving account has some profit.
saving account on which is opened by individuals for personal use, but some company too use it, but the facilities is limited. Whereas a Current account is used for business purpose and had lot properties to assist business. overdraft facilities is one among them.
A Savings Account is an account that allows a deposit of interest money that is interest-bearing and generally does not allow to be used to make direct payments. Interest earned is taxed.
A Current Account is a type of bank account used in the commercial and financial relations representing the relations existing between two natural or legal persons performing reciprocal transactions with one another. It can operate both in debit and credit lines. It can be used for a variety of transactions such as cash payments and withdrawals, cash receipts and payments by checks, cash flows.
saving account as a long term investment & current account is daily basis
A savings account gains interest. A current account is more of a transactional account allowing you to withdraw money and purchase.
A Savings account is, which gives a client interest once the client start keeping some money and Current account holder does not get any interest. In Savings account minimum Average balance is less compare to Current accounts.
Saving account is meant for saving purposes. Any individual either single or jointly can open a savings account.
In these accounts one has to maintain minimum balance and the number of financial transactions are restricted.Interest rates are higher when compared to current account.
Current account is mainly for business transactions on daily basis.While, there is usually no interest paid on amount held in the account, there is no limit on number of transactions.
Saving account is an account meant for individuals who like to save for meeting their future financial requirements.
Current account refers to a running account, in which there is no limit on the operation, during a working day.
Savings accounts are generaly meant for individual for savings purpose whilst Current accounts generally used by individual as well as non-individuals for carrying day to day business activities. Savings account are interest bearing whilst current accounts are generally non interest bearing accounts. Savings account generally requires minimum balance while it's not so in case of current accounts.
Savings Account is for savings purpose which offers profit or interest on it, while Current Account is more of a transactional account which does not offer profit or interest on it but allows deposits and withdrawals for business and other purposes.
A savings account is one on which you earn regular interest, however, this account often entails various limitations on its freedom of use and ability to withdraw from it.
A current account is more or less the more common/familiar of the two within the UAE & MENA region. In simple terms it can be easily described as a "general purpose account" by which you have unlimited access to the funds within it, consequently, these funds do not gain interest or earn you profit over time.
