Internal Links:
Internal links are types of hyperlinks whose work is to connect one web page to another on the same website. The process of adding links between two web pages on a website is called internal linking. Internal links are very important in regards to Search Engine Optimization in that they assist in helping search engines crawl web pages on a website, and they also prevent important web pages from being disconnected or isolated on websites.
External Links
External links refer to the hyperlinks on your site which direct to or connect with a different site or domain altogether. The process is referred to as external linking. These links mainly lead to quality or authoritative sites which offer complementary information. External links in the context of Search Engine Optimization assist the engines in judging the relevance of the content on the page relative to a particular field or niche.
Difference Between Internal and External Linking
The major differences between internal links and external links in SEO are that internal links remain inside a website, while external links refer to other websites. Internal links are used for site architecture, while external links are used for giving meaning from a topical point of view in SEO. Both internal links and external links are very important in SEO in their own way.

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