Most of us know about the savings account because almost everyone uses these type of accounts but few of us know about the current accounts. You should know the features and benefits of both type of accounts so that you can use the appropriate type of account as per your requirements. The savings account is used for savings purposes while the current account is used for business purposes. The benefit of savings account is that a fixed interest is provided on the deposits of these accounts while no interest is paid in the current account. One of the benefit of current account is that overdraft facility is available in these accounts while no such facility is available in savings account. Savings account is suitable for salaried people, professionals, senior citizens, etc. while the current account is useful for businessmen, firms, associations, trusts, etc. for business transactions.
