BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
3 years
|
|
|
5 years
|
|
|
7 years
|
|
|
10 years
|
Detailed explanation-1: -The Domestic & NRO Rupee Term Deposits can be opened for minimum period of 7 days and maximum up to 10 Years. For NRE Term Deposits, minimum period is 1 Year and maximum up to 10 Years.
Detailed explanation-2: -It can range from 7 days to 10 years. The rate of interest for the Fixed Deposit depends on the period for which the funds are locked in. Just like a Recurring Deposit, a Fixed Deposit amount cannot be withdrawn until the maturity period.
Detailed explanation-3: -The advantage of depositing money in an FD is that it will give you higher rates than a savings account. The period of the FD ranges from 7 days to 10 years.
Detailed explanation-4: -15 lakh and above for a minimum maturity period of 7 days and in the case of term deposits of less than Rs. 15 lakh, the minimum maturity period has to be 15 days.
Detailed explanation-5: -The investment tenure of FDs ranges from seven days up to ten years, and it varies across banks. The return on investment is compounded periodically; it may be monthly, quarterly, or annually. Senior citizens are provided with 0.5% higher returns as compared to regular customers.