Commercial Applications
Give one difference between savings account and current account.
Banking
3 Likes
Answer
| Basis | Savings Account | Current Account |
|---|---|---|
| Objective | It is opened to develop the habit of saving among the public. Interest is allowed (low rate), and there is a restriction on the number of withdrawals per week. | It is opened by business firms to carry on business dealings. Money can be deposited and withdrawn any number of times, no interest is paid, but overdraft facility is available. |
Answered By
2 Likes