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Question
State whether the following statement is True or False.
The saving bank deposit can be opened with a small amount.
Options
True
False
Solution
The savings bank deposit can be opened with a small amount. – True
Explanation: The above statement is true. A savings bank deposit can be opened with a small amount as specified by the banks. These accounts are generally opened by salaried people who wish to save a proportion of their income. A nominal amount of interest is paid on these deposits.
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