Whether you want to take advantage of any scheme or do online transactions, a bank account is required for this. The salary of a salaried person is also credited to the bank account every month.

Two types of accounts are opened in the bank - Savings Account and Current Account. Both accounts are used for both deposits and transactions. But still, these accounts are quite different from each other. Know what is the difference between savings and current accounts.

This is the difference between savings and current accounts.

People open savings accounts to save money. Regular savings accounts, salary accounts, zero balance accounts, and some special types of accounts for senior citizens, etc. are savings accounts. They get 2.5 to 4 percent interest. The current bank account is for those customers who regularly transact money in large amounts. It is specially designed for businessmen. However, no interest of any kind is available on the current bank account.

Minimum balance

Apart from zero balance accounts and salary accounts, it is necessary to maintain a minimum balance in most savings accounts. The penalty has to be paid for not maintaining a minimum balance. However this is not the case in the current account. In this, you get the facility to withdraw more than the existing balance.

Transaction limit

There is a limit on the transactions done in a month from the savings account, but there is no such limit in the current bank account. Apart from this, there is also a limit on keeping the maximum amount in the savings account, whereas there is no such limit in the current account.