What is current account saving account deposit?

A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In India the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account.

A current account on the other hand is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account.