BUSINESS ADMINISTRATION
BANKING AND INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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On ____ account, bank pays interest at higher rate.
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current
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saving
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fixed deposits
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recurring deposits
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Explanation:
Detailed explanation-1: -Fixed Deposits (FD) offers the highest rate of interest, ranging from 4 to 7.25 percent. So, the correct answer is “Option C”. Note:Recurring Deposits has higher interest than Saving Deposits. Fixed Deposits has higher interest than Savings, Recurring and current deposits.
Detailed explanation-2: -The correct answer is Fixed Deposit. It means that the investor fixes some investment until the given maturity date. The rate of interest in fixed deposits is higher than the regular savings account.
There is 1 question to complete.