BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a bank which of the following are the usual types of Deposits accounts?
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Savings accounts, Electricity accounts and Insurance Premium accounts
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Fixed deposits, Post office Savings Bank accounts and Current Deposit accounts
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Current Accounts, Saving Bank accounts and Term Deposit accounts
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Loan accounts, Savings Bank accounts and Term Deposit accounts
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Explanation:
Detailed explanation-1: -Traditionally, there are four types of bank deposits in India, which are-Current Account, Recurring Deposits, Savings Accounts, and Fixed Deposit Accounts.
Detailed explanation-2: -Bank deposits are of two types-demand deposit and time deposit. Under a demand deposit, which is for a conventional savings account, the depositor can withdraw money at any time.
Detailed explanation-3: -A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.
Detailed explanation-4: -There are two main types of deposits: demand and time.
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