Current account - A Current account is one which is meant for business purposes.
Usually small and large business enterprises, share traders and government organizations owns a current account because they require to make instant money transactions over a day.
An owner of current account can make nearly unlimited transactions in a day.
A customer from a bank can withdraw a money whenever he or she wants
A current account do not always pays interest.
It is an account of the balance of payments of a country relating to the imports and exports,sales of goods and overseas investments.
Saving Accounts - An account held by financial institutions or customers with a bank that pays moderate interest to them
A customer can not write a check from his account for withdraw of money.
Limited number of transaction per day
It cannot be used as long term investment instrument as it pays lower interest as compared to other instruments like treasury bills and certificates.
Salaried person holds Saving accounts.
In order to open a saving account ,go to your local bank with required documents like identity proofs and photographs.
Usually small and large business enterprises, share traders and government organizations owns a current account because they require to make instant money transactions over a day.
An owner of current account can make nearly unlimited transactions in a day.
A customer from a bank can withdraw a money whenever he or she wants
A current account do not always pays interest.
It is an account of the balance of payments of a country relating to the imports and exports,sales of goods and overseas investments.
Saving Accounts - An account held by financial institutions or customers with a bank that pays moderate interest to them
A customer can not write a check from his account for withdraw of money.
Limited number of transaction per day
It cannot be used as long term investment instrument as it pays lower interest as compared to other instruments like treasury bills and certificates.
Salaried person holds Saving accounts.
In order to open a saving account ,go to your local bank with required documents like identity proofs and photographs.
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