Unlocking the Banking Maze: Current vs. Savings Account - Key Differences Explained

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Is a Savings Account like a Current Account? Of course, not! They are poles apart. Let’s dive into exactly how they’re different!

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In a Savings Account, deposits and withdrawals are permitted, but there is usually a limit on the number and amount of free transactions.

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In contrast, a Current Account is intended for business use. It allows unlimited and frequent transactions.

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The primary difference between the two is the interest earned. Current Accounts don't earn interest and if they do, the interest rate is lower than with Savings Accounts.

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With savings accounts, you can save and accumulate a corpus for your goals while earning high interest rates.

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Current Accounts offer overdrafts and have low minimum balance requirements. Savings Accounts do not offer overdrafts and require higher minimum balances.

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Which account suits your needs? Open one or both with Metra Trust and enjoy a seamless banking experience.

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