An important question comes to the mind of many people.. I wonder if I should open a current account or a savings account? Ok, what is the difference between them in the first place? Which one of them suits your needs? If you want to know the answer to all of this in a simple and easy way, focus with us at the end of the video and we will tell you everything step by step so that when you choose, you choose the right one.
Firstly, we must tell you what a current account means and what a savings account means.. The current account is the account that you use to manage your daily transactions, such as deposits, withdrawals, and bill payments.. One of the advantages of the current account is that you can withdraw and deposit your money as you like and without any restrictions.. The bank also gives you a debit card so you can withdraw your money from the ATM or pay anywhere.. And if you deal with checks, the current account is the most suitable for you.. Often the current account has no interest on the amount inside it
Is this current account more suitable for whom?
Suitable for people who need a lot of financial transactions every day, such as self-employed people or people who have small businesses, and even if you want to manage your monthly expenses easily.
Medicine and savings account?
This savings account is the account that people open when they want to save money and get a return on it.. One of its most important features is that the bank gives you a return on the amount in the account.. It will be suitable if you are planning for a specific future, such as educating children or buying a large item, and in some banks There are restrictions on the number of withdrawal times per month, and you can add money at any time to increase the return
Is this savings account suitable for whom?
It is suitable if you have an amount that you want to save and take interest on.. or if you are thinking about the future and long-term financial planning and if you want to keep your money away from daily spending.
What is the difference between a savings account and a savings account?
The main point is that the current account has no benefits and savings. The number of withdrawals is limited in savings in some banks and is open in the current account, and administrative expenses will be a little higher in current accounts and less in savings.
So, how do you choose the right one? If your money will move a lot, the current account is the most suitable for you. If you want to save money and benefit from the return on the savings account, and if you have different needs, you can open both and use each one according to your needs.
Thus, you know the difference between a current account and a savings account, and the decision is easy. Choose what suits you based on your needs and priorities.
