BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An Indian citizen can open a Savings Account in which of the following?
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SIDBI
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RBI
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NABARD
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A Private Sector Bank
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Explanation:
Detailed explanation-1: -Customers cannot open an SB account for business purpose.
Detailed explanation-2: -A savings account is most suitable for people who are salaried employees or have a monthly income, whereas, Current Accounts work best for traders and entrepreneurs who need to access their accounts frequently. Savings accounts earn interest at a rate of around 4%, while there is no such earning from a Current Account.
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