BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7
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180
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360
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90
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Detailed explanation-1: -Current account does not earn any interest on the money deposited. It is opened by businesses who have a higher number of transactions.
Detailed explanation-2: -Earn 7.3%* Interest on FD Rates are subject to change as per the bank’s discretion. SBI offers FD interest rates of 3.00%-7.10% p.a. to the general public and 3.50%-7.50% p.a. to senior citizens for tenures ranging from 7 days to 10 years. The interest rate of SBI Tax Saving FD is 6.50% p.a.
Detailed explanation-3: -a bank needs funds. It gathers these funds in the form of Term Deposits, Savings Accounts and Current Accounts. It pays an interest on the borrowings i.e., on Term Deposits or Savings Deposits and charges interest on loans.
Detailed explanation-4: -In case of premature withdrawals, partial withdrawals, and sweep-in withdrawals, a penalty of 1% will be charged by the lender. However, no penal charges will be applicable for tenures less than 7 days.