GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A fixed deposit receipt is kept with the bank for its safety, is known as ____
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Locker
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Safe custody
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Safe deposit
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Valid safe deposit
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Explanation:
Detailed explanation-1: -FDR or a Fixed Deposit Receipt is a document that is given by the bank or the company to the depositor on booking a fixed deposit. Just like a shopkeeper gives a bill (invoice) on buying something from the shop, FDR is also like a bill in which all the important details about the fixed deposit made are mentioned.
Detailed explanation-2: -The Fixed deposit receipt acts as an acknowledgment and proof of the ownership of the fixed deposit account by a particular individual.. Apart from this, this receipt contains every single detail pertaining to the fixed deposit such as interest applicable, term and so on.
There is 1 question to complete.