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Debit & Credit for Drawings

From savings ...

Question

From savings deposits withdrawals are not restricted as regards ______.

A

amount and period

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B

amount only

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C

period only

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D

none of above

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Solution

The correct option is A amount and period
Savings deposits refers to the deposits with the commercial banks which can be withdrawn on demand of the account holder. In other words, in this type of deposits, the account holder has the liberty to withdraw any amount to the limit of his credit balance anywhere and at any time as per his wish. Therefore, savings deposits withdrawals are not restricted in regards of amount and period of withdrawal.

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