I am not aware if indian banks have the concept of current account.

But in some foreign banks the Current Ac does have overdraft protection. It does not accrue any interest. interest is paid to the Savings Ac only. Many times you dont even need to have a min balance in Current (which explains the overdraft partly) while a min balance is a must in Savings. All Cheques written are debited from Current. Many times whilst using my citi debit card i see the current Ac option, but the merchants never seem to use it all. don't think there is any limit on the number of transactions. However, if you are using the account for commercial purposes, the bank may not allow you to have a savings account. I know a person, who faced such a situation and was asked by the bank to get a current account. Savings account is meant only for personal use. In savings account you are paid interest for the amount maintained half yearly/ yearly there is no limitation for the transaction except withdrawing in atm's. Where as in current a/c you will be having overdraft facility, cash credit a/c , as per your company turnover.

current account (C.A.) savings account (S.A.) C.A - no interest S.A - earns interest based on minimal monthly balance

C.A - overdraft allowed S.A - No overdraft (mostly - except some banks) Overdraft means, once in a while they are allowed more money than what they have in the account, as long as they repay it with interest

C.A - No minimum balance S.A - Minimum balance requirement

C.A - Preferred by business S.A - Preferred by individuals for interest folks for overdraft facility