GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The usual deposit accounts of banks are-
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Current bill accounts and term deposit accounts
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Current accounts, electricity accounts and insurance premium accounts
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Loan accounts, savings bank accounts and term deposit accounts
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Current accounts, savings bank accounts and term deposit accounts
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Explanation:
Detailed explanation-1: -A savings account is a deposit account which allows limited transactions, while a Current Account is meant for daily transactions.
Detailed explanation-2: -Deposit products include savings accounts, checking accounts, certificates of deposit (CDs), and money market accounts. A checking account is a transactional account. It is designed for individuals to deposit money into it and take money out of it frequently.
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