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 April 30 is a bank holiday in Andaman And Nicobar Island due to Buddha Pournima.
2018 May 01 is a bank holiday in Andaman And Nicobar Island due to Maharashtra Din/May Day.
2018 May 09 is a bank holiday in Andaman And Nicobar Island due to Birthday Of Rabindranath Tagore.
2018 May 16 is a bank holiday in Arunachal Pradesh due to State Day.
2018 May 29 is a bank holiday in Sikkim due to Saga Dawa.
2018 June 08 is a bank holiday in Jammu And Kashmir due to Jumat-ul-Veda.