A large initial letter that drops below the first line of a paragraph, usually used as a decorative element at the beginning of a section or chapter of a book.
Use SAVE when you want to update the lastly preserved or to revise an existing document or file with the latest content.
Whereas
Use SAVE AS when you are creating a new document/file or an existing document/file to a new location. This will keep the original document untouched in its original format and create a new document with a new name.