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प्रश्न
Explain any one type of term deposit.
उत्तर
Type of term deposit:
Short term and long term deposits - These term deposits are divided into two categories based on the investment's holding length. A short term deposit has a tenure of one to twelve months. Lock-in periods for long-term deposits range from one to ten years. These savings accounts pay a higher interest rate than short-term savings accounts.
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