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प्रश्न
From which type of deposits, money can be withdrawn only after the maturity date?
पर्याय
Savings account
Current account
Recurring deposit account
Fixed deposit account
उत्तर
Fixed deposit account
Explanation:
Fixed Deposits (or time deposits) are those deposits which can be withdrawn only after the expiry of a certain fixed period. Money is deposited for a fixed period of time, which generally ranges between 7 days and 10 years. These deposits carry the highest rate of interest. The longer the period, the higher will be the rate of interest.
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संबंधित प्रश्न
Define a commercial bank.
Study the picture below and explain any two of its functions.
Mention any two agency functions/services of a commercial bank.
Differentiate between Savings Deposit and Current Deposit.
Differentiate between current deposit account and fixed deposit account.
A commercial bank accepts deposits from the people for the purposes of giving loans and making investments.
Mention primary functions of commercial banks.
Compare the rate of interest given to such an account to that of a Current Account and a Fixed Deposit.
Explain clearly three methods adopted by Commercial Banks to borrow money from the public.
Explain three main features of a current bank account.
