A current account is an account for everyday use, often used by individuals, businesses and financial institutions around the world to keep liquid funds available for making necessary payments and withdrawals. Two or more people can maintain an account together and call it a joint account. Check book facility is provided and account holders can deposit all types of checks and drafts in their name or accepted in their name by a third party.
A savings account is a deposit account in a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange. These accounts allow customers to set aside a portion of their liquid assets while earning cash back.