Differential points between Savings and Current Accounts

People come with different financial goals. They also require a means to use their funds for handling financial commitments. Banks address these concerns by offering different Deposit Accounts. The primary categories include Current and Savings Accounts. Both are known for handling money and conducting regular banking activities. But they differ significantly. You need to understand these differences and select the one that best suits you.
A Current Account or Checking Account is known to handle business expenses and high-value transactions through online mediums. Hence, most business owners operate this account. Contrarily, a Savings Account is known for building your savings for specific goals. It is available for all who want to save funds and manage them efficiently. Besides these fundamental differences, both accounts differ in the following manner:
Objective
Your intention forms the base for choosing between the two accounts. As discussed, they serve different purposes. If you want to build wealth for short-term goals or emergencies, opt for an online Saving Account opening. But if your priority is for handling daily transactions seamlessly, a Current Account is ideal.
Interest rates
When there are multiple services, the interest rates are generally compromised. This is evident with the Current Account as banks offer preferential treatment to their account holders. They are assigned along with a personal relationship manager to follow standing instructions. Such premium services come at a price. Since the focus is on transaction efficiency, it is a non-interest-bearing account. Meanwhile, an online Bank Account meant for savings offers nominal interest.
Overdraft facilities
Business expenses may override expectations. This leads to an increase in working capital needs. As the business owners cannot discontinue operations, they can overdraw from the Current Account. Banks offer a credit limit under the overdraft facility. They charge a specific fee for this purpose. Such services are not part of the Savings Account. Instead, you need to maintain a minimum balance when you open Bank Account online. 
Transaction limit
The best part about a Current Account is managing multiple transactions. Hence, you enjoy flexibility for daily transactions. But ensure to stick to the transaction limit when you use a Savings Account. This is mainly restricted to a specific number of daily and monthly credits or debits. Banks specify the details on their websites. They also let you track your account activity through Banking apps for managing your finances effectively.
Suitability
The points mentioned motivate you to use both accounts. Depending on the purpose, a Current Account is ideal for business firms and associations. Savings Accounts, on the other hand, are best if you want to save more and attain a specific goal.