A current account is an account for day-to-day use, will often be used by individuals, businesses and financial institutions around the world as a means of keeping liquid funds available for making necessary payments and withdrawals. Two or more people can set up a current account together and call it a joint account. Cheque book facility is provided and the account holder can deposit all types of the cheques and drafts in their name or endorsed in their favour by third parties.

 

A basically meant for businessmen and are never used for the purpose of investment or savings. No interest is paid by banks on these accounts. On the other hand.