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Different Types of Accounts

Banks provide...

Question

Banks provide highest rate of interest in a account.

A

Savings

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B

Current

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C

Fixed Deposit

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Solution

The correct option is C Fixed Deposit
Fixed deposits provide highest rate of interest as large amounts of money is deposited in these accounts for a longer duration.

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Similar questions

Q. Banks provide highest rate of interest in a account.

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

Q. Banks do not provide any interest money to the customers who access current deposits accounts.

Fixed deposit account provides more interest than savings bank account.

Q. Give reasons or explain the following statements:

1. Commercial banks provide agency functions to earn profits.
2. Overdraft facility is provided to current account holders.
3. Saving account deposits are usually opened by salaried class.
4. Rate of interest on fixed deposit is high.

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