Apart from a savings bank account, one can also open a current account with a bank. This account usually caters to the people who run businesses and it is designed for carrying out business transactions.
1. Current account is a bank account for people who run businesses. It is designed for carrying out day-to-day business transactions easily.
2. The funds in a current account can be withdrawn any time from a bank branch or an ATM.
3. The account can be used for electronic transactions or cheque transactions.
4. Since current account balances tend to fluctuate quite a bit depending on the cash needs of the business, banks usually do not deploy these funds.
5. Banks do not pay any interest on current account balances.
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