Quite often, many people who want to save money open accounts with paying to the nature of accounts they open. Many people run current accounts as their savings vehicles. Much as this has no harm really, it would be more beneficial to have a dedicated savings account for savings as opposed to using a current account.

•  A current earns no interest on the deposits while a Savings account earns interest based on minimal monthly balance. Most banks in the country have set the monthly minimum balance on Savings accounts at KES 5000.
• Some banks allow an overdraft on current account withdrawals. On the other hand, most Savings accounts to not allow an overdraft. A Bank Overdraft means that once in a while account holders are allowed more money than what they have in the account,  with interest pegged on the 'loaned' amount.
• Most banks in the country currently do not require that holders have a minimum balance on Current Accounts. However, Savings Accounts require a set Minimum balance.

Most individuals in the country are running Current Accounts for main purposes of salary checking. Savings Accounts would be more beneficial to individuals because of interest earned on deposits and for the overdraft facility.

Withdrawal

Current Account holders can withdraw and deposit any amount of money any number of times in a day. The case with Savings Accounts is different. Holders can withdraw a maximum of set amounts over specified periods of time. In this case therefore, Savings accounts might not be the best to operate emergency funds for individuals.

Savings Accounts are primarily designed for individuals while Current Accounts are designed for businesses which have numerous transactions to perform in a day.