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प्रश्न
Which of these are known as term/time deposits?
पर्याय
Fixed deposits and current accounts
Current account and savings account
Recurring deposits and fixed deposits
Recurring deposits and savings account
उत्तर
Recurring deposits and fixed deposits
Explanation:
Term/Time Deposits are deposits made for a particular period of time that cannot be withdrawn before the term ends without paying penalties. There are two types of term deposits:
- Fixed Deposits (FDs)
- Recurring Deposits (RDs)
Current and savings accounts are not term deposits; instead, they are called demand deposits, which allow the account holder to withdraw funds at any time.
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संबंधित प्रश्न
Discuss any five advantages of having a bank account.
Which of the following does not belong to the group?
Name one commercial bank in India.
Explain any one type of term deposit.
A depositor is allowed to withdraw more money than what is there in his account:
- What is the facility called?
- In which type of account is it permitted?
Match the following:
| 1 | Savings account | P | For a fixed time period |
| 2 | Current account | Q | Deposited at an equal time period |
| 3 | Recurring account | R | No interest is paid |
| 4 | Fixed deposit | S | Nominal restriction in no. of withdrawals |
Which is the primary function of Commercial Banks?
How do commercial banks invest their surplus funds?
What are time (or fixed) deposits?
What are current deposits?
