ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money market deposit account
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Interesting-earning checking account
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Certificate of deposit
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Savings account
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Detailed explanation-1: -In general, interest-earning accounts are low risk when compared to investments such as stocks, but the returns are lower. You can choose from a number of different types of accounts including savings accounts, CDs, money market funds, Treasury bills, and bonds.
Detailed explanation-2: -Saving provides a financial “backstop” for life’s uncertainties and increases feelings of security and peace of mind. Once an adequate emergency fund is established, savings can also provide the “seed money” for higher-yielding investments such as stocks, bonds, and mutual funds.
Detailed explanation-3: -Interest rate. Minimum cash balance. Presence or network of the bank/financial institution. Service charges / ancillary fees. Debit-card deals. Doorstep banking facilities. Disclaimer: Copyright Kotak Mahindra Bank Ltd.
Detailed explanation-4: -National Savings Schemes (NSS) Public Provident Fund (PPF) Post-Office Savings Scheme (POSS) Senior Citizen Savings Scheme. Sukanya Samriddhi Yojana. Atal Pension Yojana. Employee Provident Fund (EPF) National Pension Scheme (NPS) More items