Question
Show the difference between Current Account and Saving Account.
| Points | Current Account | Saving Account |
| Objective | The objective of current account is to make commercial transaction easy. | The objective of saving account is to create saving habit, safety of saving and to each interest income. |
| Who opens it? | Current account is generally opened by business men and institution. | Middle class and salaried people generally open saving account. |
| Introduction for account | Bank demands introduction of the account holder. | Normally no introduction is asked for to open this account. |
| Interest | No interest is paid on the amount in this account. | Normally 4% interest is paid on the balance in this account. |
| Mode of withdrawal of money | From the current account money is withdrawn through cheque only. Money cannot be withdrawn through withdrawal slip. | Money can be withdrawn through cheque or withdrawal slip. |
| Facility of Overdraft. | Looking no the dealing and application of the trade over draft facility is available (withdrawal of amount more than balance) | Amount more than balance in saving account cannot be withdrawn. |
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