What is current and saving account? Different between them

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Accepted Answer

Current and saving accounts are types of bank accounts. They differ in terms of usage, interest rates, and minimum balance requirements.

Current accounts are primarily used for business transactions while saving accounts are for personal savings.
Saving accounts offer higher interest rates than current accounts.
Current accounts usually require a higher minimum balance than saving accounts.
Saving accounts have limits on the number of withdrawals per month while current accounts do not.
Examples of current accounts include business accounts and salary accounts while examples of saving accounts include regular savings accounts and fixed deposit accounts.

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