BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is NOT a typical goal for a savings account?
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To create an emergency fund
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To pay for higher education
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To save for a new car
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To buy groceries for this week
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Explanation:
Detailed explanation-1: -Answer and Explanation: C) Protections against inflation is not a benefit of a savings account.
Detailed explanation-2: -There are different types of savings accounts to choose from, and they’re not all alike. The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.
Detailed explanation-3: -Look for these features in a savings account: Initial deposit. Minimum balance requirements. Account fees.
There is 1 question to complete.