Current account and saving account
|Basis||Current account||Savings account|
|Definition||Current accounts are those accounts which facilitate their consumers to carry out day to day transactions.||Savings accounts encourage their consumers to save.|
|Interest rate offered||These accounts offer minimal interest rates or no interest.||These accounts offer comparatively higher interest rates.|
|Users||They are mostly created by big companies, businessmen, traders etc.||They are mostly created by the salary class, farmers etc.|
|Overdraft facility||This facility is available for a current account.||This facility is not available for a savings account.|
Concept: Commercial Banks
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