Question

Fixed deposit account provides more interest than savings bank account.

• A. True
• B. False

Answer 1

The correct option is A

True

Savings Bank Account usually gives $4\%$ to $6\%$ interest per annum on the money.

To get more interest, we have to keep a fixed amount in a bank for a longer period of time. We can avail facilities like Fixed Deposit(FD) or Recurring Deposit(RD) schemes for that purpose that provide more interest than Savings Bank Account.