What Is The Difference Between Current Accounts And Savings? Saving Account और Current Account मे क्या अंतर है
While a Savings Account is one where you deposit your money in the bank and earn the same interest, a current account is where you deposit the money to do business. In this blog, we will explore the positive differences between the two.
Difference 1: Purpose
Account savings account holder hota hai ki wo apni savings ko safe rakhe aur uspe interest earned earlier. However, with the current Account, the purpose of the account holder is to conduct business / financial transactions on a regular basis.
Difference 2: For whom
A savings account can only be opened by people who can use it. It is usually open for a short period of time to save for travel times, large and small purchases, etc. The current account is opened by businesses or firms that want to conduct various bank transactions according to the needs of their business.
Difference 3: Minimum balance
Savings account mein apko kuch amount of minimum balance rakhna hota hai jisse apka deactive account na ho. The same is true of the current account; but the requirement for a lower balance is usually lower in the savings account.
Difference 4: Interest
Under a savings account, interest on savings is earned by the account holder, but in the current account, banks usually do not pay interest on deposits because the money deposited should be used in a business transaction.
So, now that you know the difference between the two types of accounts, in the future, just go to the bank and open your favorite account with a jiffy!
Know the types of savings accounts. Also, learn more about the monthly balance and maintenance balance
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