Following is the list of differences between a current and savings bank account:

Definition:

A current account is usually opened by people or business entities with higher quantum of daily transactions.

A savings account is opened by individuals to generally park their idle money or by salaried individuals. The amount 

Rate of interest:

Current bank account attracts no interest as it allows immediate liquidity to the holder.
Savings bank account attracts interest to the holder. The rate of interest differs with every bank and generally ranges between 3-6%. I have an account with Yes Bank that offers 5.5% based on my average account balance.

Overdrawing:

When it comes to savings bank account, only the money that is deposited by the holder is available for usage or withdrawal.

When it comes to current bank account, a sum of money over and above the available balance is allowed for withdrawal or usage. The withdrawn sum attracts interest.

Minimum Balance:

Certain savings bank account demand minimum balance for functioning. The requirement varies with bank and type of savings bank account.

Current bank accounts demand no minimum balance, but any overdraft drawn on the account needs to be paid within the stipulated time frame in order to dodge any penalties.