GENERAL KNOWLEDGE

GK

BANKING AWARENESS AND SEBI

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Time deposits means ____?
A
Time deposits include overdue fixed deposits
B
Time deposits do not include recurring deposits as well
C
The deposits which are lent to bank for a fixed period
D
Time deposits do not include deposits under Home Loan Account Scheme
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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