Question

______ deposits earn very low rate of interest on it.

Options

• Demand

• Saving

• Recurring

• Cumulative

Answer 1

Saving deposits earn very low rate of interest on it.

Explanation:

Savings deposits are a form of bank account in which people can deposit their savings and earn a modest interest on the balance. They are commonly used to hold money that are not immediately required and to earn a small return on those funds. Savings accounts, on the other hand, often offer lower interest rates than other forms of bank accounts, such as certificates of deposit (CDs) or money market accounts.