Savings Account:
A savings account is one in which you deposit money and receive interest on it
Individuals can only create a savings account for their own personal purposes. A short-term account is typically used to save money for trips, purchase large and little items, etc.
In order for your savings account to be active, you must maintain a minimum balance of a certain amount.
Savings account holders can earn interest on their money.
Current Account:
Current account is one in which you deposit money to conduct business operations.
Companies that want to execute numerous bank transactions in accordance with their business requirements might create a current account.
The minimum balance required for a savings account is lower than it is for a current account.
Banks typically do not pay interest on deposits in current accounts since the money deposited has to be utilized for business activities.
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