Question

Give Reason Or Explain the following statements.
Saving account deposits are usually opened by salaried class.

Answer 1

Saving account deposits refers to the type of bank account which is opened by the people in order to save a part of their income.
So, it is the most suitable account for salaried class people as they can save a part of their monthly income in this type of account and earn a nominal rate of interest on their savings. Therefore, it is usually opened by the salaried class people.