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A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times.

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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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.

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14y ago

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What is the definition of current account?

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