menu search
brightness_auto
Ask or Answer anything Anonymously! No sign-up is needed!
more_vert
Between savings accounts and current accounts, which one do you prefer and why? 

13 Answers

more_vert
Account is like a wallet usually designed for customers for easy saving and transactions with the aim if monitoring aand sustaining a dependable financial transactions and satisfying customers desires. There are however, many or a lot of the types of account depending on desires of the customers, but the two most commonly used account are: current and saving account which both has its merit and demerit.
Left to me, I prefer the saving account since it support easy saving and lesser charges with each transaction. Apart from ATM charges, the maintenance changeschanges is not that high. The current account us actually designed for the salary earners and the charges is high per transactions even the use of its check book involves transactional charges.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I prefer savings account and I only know about savings account because that is what every company I have been is providing me for bank account. I cannot have an have an option because it was given to me. I have been having savings account for less than 2 years now because that the time I am staying in my present company. It is affordable and economical, and even practical to have a savings account. I even can open another account, another savings account if I want too. I prefer it too. I do not have any complains so far. I have been working for less than 10 years now and I prefer savings account. I only have to open online banking to check my balance. I am comfortable with that and that is for me is the one understand the most when it comes to banking.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I don't really think the issue of using either of the two types of accounts should be preferential, because it's obvious that there must be need for the current account to be opened. Without been told, I presume everyone out there would opt for the use of savings account, but they would be left with no other option than to open the current account, when there is transaction or investment that can't be run on savings account.

Speaking from personal experience, I never thought a day was going to come I would be running current account, because all along I been operating savings account, and I was so satisfied with services it offers me. But this status quo changed when I had a transaction that I couldn't make use of my savings account to carry out. That was when I was compelled to open current account regardless of the extra charges associated with it.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
There are many reasons for people to make preferences for the type of bank account that they will be making use and I believe that it is dependent on some factors such as channel of income and all that.

I have been following closely and have come to understand that those that are able to make some huge incomes on a daily or weekly basis always look at having a current account as this is the way that they can handle their business in the simplest way.

I think that those that are still working out how to make money in a big way should think of having a savings account as you won't be targeting at having a current account that is tied to a whole lot of expenses that you may end up not paying up at the end of the day.
For me, I always prefer a savings account at this moment since it is a way that I tend to control some bank charges.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
The savings and current are different, savings account us an interest-bearing account with certain limitations. I have tried to open an account this one before but, it was saving account at the same time I can use the money while its earning,and they charge more than the current savings account. Most saving accounts, you cannot withdraw money in it,but there are banks offering you to open a saving accounts that will earn specific percentage if you maintain the limit amount in it for few months.

On the other hand, current accounts is for general use accounts, this is what I am using regularly. This is i used regularly for my everyday expenses. But if I am really willing to save money each week, I can save,but that would be hard because it can easily get access and spend into anything.

If I can have both saving while using current account, I will,but I can't yet.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I am not doing any kind of business. For me, savings account is good and beneficial. Business owners and company have current account mostly. 
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I prefer savings when I have enough money to save and spare, but prefer current for loan and business purposes. Saving account attracts interest when you leave your money in there for a certain amount of time. It depends on your condition. 
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I prefer a savings account. In fact, I am planning to have a time deposit account so that I can earn more and it will not be used. I am sure people want something even having a small interest from their banks.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Both of these accounts serve different purposes.

As a middle-class woman, I would prefer having savings account over a current account because the current account is those account which is used by businessman which allow a current account holder to do as much transaction as possible. One wouldn't receive any interest on a current account and the service charges might be on the higher side for various transactions carried through the account.

At present, I hold an HDFC Bank savings for which I get better returns on it and I'm really happy with their service over the years.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Both are good and people choose to have them for different reasons. I think having both with a clear purpose is best. This is because we need to save and also budget and daily expenses are there for us. 
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
It really depends on what your goals are. If you are looking for a way to save and grow your money, then a savings account may be the best option. Savings accounts typically offer higher interest rates and can help you achieve your financial goals more easily. On the other hand, current accounts can be more convenient as they allow you to make more frequent payments and have access to your money more quickly. Ultimately, it is up to you to decide which option works best for your personal financial needs.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
I prefer savings accounts because I like the idea of having a set amount of money that I can pull out at any time. I also like the idea of having some money set aside in case of an emergency. With a current account, I am not 100% sure what is happening with my money all the time.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Saving accounts is most suitable for employees who receive their payment monthly because they earn interest of 4% while current account is traders and entrepreneurs who access account frequently.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
Whenever you have a question in your mind, just drop it on Answeree. Help our community grow.
...