What do you mean by Current account and Savings account in a bank?

My sir has given homework. i want to know what is current account and savings account.
What do you mean by Current account and Savings account in a bank?
both are depository accounts. a current account gives you the benefits of writing checks, a debit card which can be used at ATM's and also at retail stores to make purchases. a current account is a NON- interest bearing account.u can make bill payments from a current account.////////////////////////////////... a savings account is interest bearing account. there are different savings accounts like money market account ( where u usually get high interest on the balance and also write checks), a regular savings account (cannot right checks) and certificate of deposit(the funds need to be for a certain period of time like 3month to 5 years, u cannot make any withdrawals until the cd matures, and if you make a withdrawl before maturity a fee is applicable and accoun is closed. this account has the highest interest rate). you get a ATM only card and not a debit card on a savings account. //// there are some other differences too but that depends on the bank
Reply:your current account has a steady flow of cash going through it, your salary gets paid in and drect debits for bill paments, cheques and general spendig goes out of it. savings accounts are designed for holding money.. there are different types but generally you have to give notice to get the money out (ie it is less convenient) but you get a higher rate of interest on the money you keep in there. you get hardly any interest on current accounts.
Reply:Current means you have it active. Savings means savings. goodness.
Reply:A current account is a deposit account in the UK and countries with a UK banking heritage offering various flexible payment methods to allow customers to distribute money directly to others. Most current accounts have a cheque book, offer the facility to arrange standing orders, direct debits and payment via a debit card. Current accounts may also allow borrowing via an overdraft facility.





Savings Account is an account that draws interest at a bank.
Reply:CURRENT ACCOUNT IS WHERE YOU CAN TAKE OUT MONEY OR PUT IN /SAVINGS ACCOUNT IS WHERE YOU PUT IT MONEY TO SAVE LIKE MONEY FOR COLLEGE OR WHATEVER