GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Time deposits means ____?
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Time deposits include overdue fixed deposits
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Time deposits do not include recurring deposits as well
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The deposits which are lent to bank for a fixed period
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Time deposits do not include deposits under Home Loan Account Scheme
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Explanation:
Detailed explanation-1: -A term deposit is a type of deposit account held at a financial institution where money is locked up for some set period of time. Term deposits are usually short-term deposits with maturities ranging from one month to a few years.
Detailed explanation-2: -The short answer is yes – a term deposit is, indeed, an asset. Regardless that the funds are locked away for a fixed period, when it comes to the balance sheet, it’s considered an asset.
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