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प्रश्न
Explain the following term/concept:
Time Deposits.
उत्तर
1) Any deposit which is not repayable on demand is called time deposit. Time deposits are repayable after a specified period of time. Time deposits may be classified as fixed deposit and recurring deposit. Under Fixed deposit account certain amount is deposited for fixed period (minimum 45 days or more). Usually a higher rate of interest is paid depending on the period. Interest is paid either at a regular time interval or on the maturity of deposits. Fixed Deposit Receipt (FDR) is issued to the depositor. Loan is given to depositor on the security of FDR.
2) Under Recurring deposit account, depositor is required to deposit with the bank a fixed sum of money every month for 12, 24, or 60 months. To encourage saving habit among the people bank allows depositors to open this account. 0n maturity, the depositor gets the total amount deposited plus interest accrued on it. Passbook is issued to the depositor. E-statement is issued to the depositor only on demand.
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संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
The account which is generally opened by business organization.
Select the correct answer from the options given below and rewrite the statement.
__________ is used for depositing cash into a bank account.
Select the correct answer from the options given below and rewrite the statement.
__________ account is suitable to salaried people.
Write a word or a term or a phase which can substitute the following statement:
The type of account for which higher rate of interest is paid to bank depositors..
Write a word or a term or a phase which can substitute the following statement:
The slip which is used for withdrawing money from Savings Account.
State whether the following statement is true or false :
In cash credit, customers account is credited by bank with sanctioned amount
State whether the following statement is true or false :
Overdraft facility is granted to Savings account holders.
State whether the following statement is true or false :
Banks grant long term loans only.
Find the odd one:
Complete the sentence:
Accepting deposits and lending money are the primary functions of ______
Complete the sentence:
A facility under which a customer can overdraw money from his account is called as ___________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| International Trade Transactions | __________ |
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| ________________ | Current Account |
Answer in one sentence:
What is a Letter of Credit?
Attempt the following:
Write a letter to the bank to stop payment of cheque.
Attempt the following:
Write a letter requesting the bank to issue a letter of credit.
Attempt the following:
Write a letter to bank for opening a current account
Explain the following terms/concept:
Advances
Explain the following term/concept:
Demand Deposits
Choose the Correct Answer.
The Local Area Banks are promoting ______
