ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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CDs, stocks, bonds
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passbook accounts, time accounts, money market accounts
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stocks, bonds, and mutual funds
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none of the above
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Detailed explanation-1: -Basic Savings Account. Also known as passbook savings accounts, these accounts are a good introduction to earning interest and saving money. Online Savings Accounts. Money Market Savings Accounts. Certificate of Deposit Account.
Detailed explanation-2: -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: -The most common types of bank accounts include: Checking accounts. Savings accounts. Money market accounts (MMAs)
Detailed explanation-4: -Types of Savings Account. Traditional or Regular Savings Account. Corporate Salary Account. Children’s Savings Account. Women’s Savings Account.
Detailed explanation-5: -Easy Transactions. You can use your Savings Account to send and receive payments. Payment of Bills. These days, banks offer payment facilities such as BillPay with Savings Accounts. ATM facility. NetBanking and MobileBanking. Debit Card. Savings interest rates. Cross Product benefits.