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What are the differences between a current account and a savings account?

Answer:
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
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Contributor: Jadeacres
First answer by ID1507002116. Last edit by Jadeacres. Contributor trust: 3112 [recommend contributor recommended]. Question popularity: 22 [recommend question].

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