The main objective of current account is to entertain maximum number of transactions while savings account encourages customers to make more savings.(2) Eligibility
Savings Accounts are opened by the individuals mainly by salaried persons & HUFs whereas Current Accounts are opened by Non-individuals like Proprietors, Partners, Companies, Trusts, Associations, etc.(3) Interest Rate
Savings Accounts offer periodic interest on deposits which ranges between 3.5% to 7% while Currents Accounts generally don't offer any interest. However, some banks have started offering low interest now-a-days.(4) Over Draft (OD) or Cash Credit (CC) Facility
Current Accounts offer Bank Overdraft facility to the customers whereas Savings Account don't offer such a facility to the customers.(5) Minimum Account Balance (MAB)
A higher Minimum Account Balance needs to be maintained in Current Account as compared to that of Savings Account. The limit of the same is decided by the banks and differs from bank to bank.(6) Number of Transactions
As the Current Accounts are opened with an objective of carrying out very frequent transactions, they don't usually put any cap on number of transactions. Savings accounts usually put a limit on the maximum number of transactions which ranges between 3 to 5 transactions per month. After crossing these limits, the customers need to pay charges on additional transactions done by him.(7) Nomination Facility
Nomination Facility is available in Savings Account but it is not available under Current Account.
2018 August 17 is a bank holiday in Daman And Diu due to Parsi New Year (Shahenshahi).
2018 August 22 is a bank holiday in Andaman And Nicobar Island due to Bakri Id (Id-ul-Zuha)/Karma Puja.
2018 August 23 is a bank holiday in Jammu And Kashmir due to Bakri Id (Id-ul-Zuha).
2018 August 24 is a bank holiday in Kerala due to First Onam.
2018 August 25 is a bank holiday in Kerala due to Thiruvonam.
2018 August 27 is a bank holiday in Kerala due to Sree Narayana Guru Jayanthi.