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Money deposited in ______ account helps to earn interest at a rate higher than in other accounts. - Home Science (Theory)

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Question

Money deposited in ______ account helps to earn interest at a rate higher than in other accounts.

Fill in the Blanks

Solution

Money deposited in Fixed Deposit account helps to earn interest at a rate higher than in other accounts.

Explanation:

Fixed deposit accounts offer a fixed interest rate and tenure for which the money is locked in. Banks often provide higher interest rates for longer tenures.

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