Banks provide a higher rate of interest on which of the following accounts?

Savings account

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Current account

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Fixed deposits for long period

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Fixed deposits for very short period

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Solution

The correct option is D Fixed deposits for long period
Fixed deposits is an investment and a type of saving account in which money is deposited for a fixed period of time and a fixed rate of interest is paid at the end of time.

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The rate of interest offered on public deposits is usually higher than that offered on bank deposits.

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