BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of these products does NOT allow people a way to save money and earn interest?
|
|
certificate of deposit
|
|
|
home mortgage
|
|
|
money market account
|
|
|
savings account
|
Explanation:
Detailed explanation-1: -The correct answer is Current Account.
Detailed explanation-2: -A money market account is an interest-bearing savings product available at most banks and credit unions. You can usually write checks from it and may get a debit card.
Detailed explanation-3: -A savings account is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest. These accounts are federally insured up to $250, 000 per account owner and offer a safe place to put your money while earning interest.
There is 1 question to complete.