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Exit Guide

How Are Savings A/c and Current A/c Different?

Given below are the differences between savings account and current account (figures mentioned in the table below are subject to market change)

Savings Account Current Account
Suitable for Individuals Businesses
Interest on savings Yes No
Withdrawals limit per day Yes No
Transaction limit per day Yes No
Minimum balance
  • May be needed
  • Low, if yes
  • â‚ą1000-3000
  • Needed
  • High
  • â‚ą5000-10,000

Before making a budget
Points to remember:

Points to remember:

Here are some key takeaways from this section that you should remember.

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    We can make cashless and large payments through a bank account

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    Bank accounts also help us send and withdraw money to and from anywhere

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    They help us take loans and make investments

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    They give us access to debit card/credit card, online and mobile banking and government schemes

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    The three types of bank accounts are Savings, Current and Time Deposit account

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    Savings bank accounts are mostly suitable for individuals

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    Current accounts are mostly used by businesses

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Savings Account

Our guide explains how savings accounts work, helping you grow your money while keeping it safe.
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