When an electric current is passed through a conducting solution, it causes chemical reactions. The resulting effect is called chemical effect of current.
When an electric current is passed through a bulb, its filament gets heated to a high temperature and bulb starts glowing. The resulting effect is heating effect of current.
Whenever an electric current is passed through a circuit, a magnetic field is produced around it. The resulting effect is magnetic effect of current. Thus, an electric current can produce chemical, heating and magnetic effects.