A current account is an account in which money or cheques can be taken out or payments can be made at any time.
A deposit account is an account in which money is placed and left for a period of time, and interest is earned.
current account (C.A.)
savings account (S.A.)
C.A - no interest
S.A - earns interest based
on minimal monthly balance
C.A - overdraft allowed
S.A - No overdraft (mostly - except some banks)
Overdraft means, once in a while
they are allowed more
money than what they
have in the account, as
long as they repay it
with interest
C.A - No minimum balance
S.A - Minimum balance requirement
C.A - Preferred by business
S.A - Preferred by individuals for interest
folks for overdraft facility
A checking account is an account where cash can be quickly withdrawn with the use of checks or debit cards. A current account is a financial asset account in accounting in which assets can be easily made liquid or have a turnover period of less than a year.
A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want.
A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate. These are also called Term Deposit accounts or Fixed Deposit accounts.
A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want.
A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
How can I check my balance on Line
Because it is different :):):):):):0
The current savings account rates for Wachovia might change from time to time and may be different from person to person. However that savings account rate can be as high as 3.00%
The differences are:Savings account earn higher interest than current accountsThere are limits on number of transactions per year in a savings account but there are no such limits for current accountsCurrent accounts are used by businesses and companies while savings accounts are used by normal customers
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.
On a personal savings account the interest rate is 0.79. The same goes for a business account. Other accounts may have different rates which are on their website.
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
If you want a higher rate of interest compared to what you get on your current account you will need to look for a savings account. If you are keeping a lot of money in your current account you may be missing out. Compare rates and see if there is an account that would suit you better.
A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In india the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account. A current account on the other hand is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account.
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
Generally a savings account pays interest, and a checking (current) account doesn't. Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.
savings account earns interest.
we can have transactions at any time