കറന്റ് അക്കൗണ്ടും സേവിംഗ്സ് അക്കൗണ്ടും: ബിസിനസിന് ഇടപാട് എണ്ണവും വായ്പയ്ക്ക് വേണ്ട സ്റ്റേറ്റ്മെന്റുമാണ് പ്രധാനം.
Current account vs savings account benefits depend on volume. A savings account may pay interest and suit a very small, simple activity. A current account is built for frequent deposits and payments, cheque or transfer facilities, and the statement a lender recognises as business conduct. Companies and LLPs operate through current accounts as a matter of course.
A direct comparison
- Transactions: current accounts tolerate the daily in-and-out of a shop. Savings accounts can flag unusual business-like volume.
- Interest: savings may earn it. On a working balance you will spend next week, the interest is smaller than the mess of mixed personal spends.
- Charges: current accounts often have a minimum balance or transaction fees. Price that against clarity.
- Lending: loan files go more smoothly with a clean current-account history.
How to choose
If staff, suppliers, and GST move through the account every week, open a current account. See the wider set in types of bank accounts.
Frequently Asked Questions
Which is better for a new proprietor?
Start with what the bank will open and what keeps personal spending out. Move to a current account as soon as transactions are regular.
Can I earn interest on business funds?
Sweep or short deposits of money you truly will not need for bills. Do not lock GST money you must remit.
Will a savings account reduce tax?
No. The account type does not change whether a receipt is taxable.