BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Current deposit
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Fixed deposit
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Recurring deposit
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None of the above
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Detailed explanation-1: -Fixed Deposits (FD) offers the highest rate of interest, ranging from 4 to 7.25 percent. So, the correct answer is “Option C”. Note:Recurring Deposits has higher interest than Saving Deposits. Fixed Deposits has higher interest than Savings, Recurring and current deposits.
Detailed explanation-2: -Fixed Deposits (FD) are investment instruments offered by banks and non-banking financial companies, where one can deposit money for a higher rate of interest than savings accounts. These deposits, hence, offer the highest rate of interest, ranging from 4 to 7.
Detailed explanation-3: -Corporate and Other Fixed Deposits Offering High ROI If you choose a good Company FD scheme, you will generally earn more on your investment than bank FDs as these schemes offer the highest interest rate on FD.