Question

Interest is more on saving deposits.

• A. True
• B. False

Answer 1

The correct option is B False

False.

Saving deposit account refers to the type of bank account which is opened by the people in order to save a part of their income. The rate of interest offered in such type of account is very nominal and is lowest among all the other types of bank deposit accounts. The interest rates are nominal as there is no restriction towards the withdrawal and deposit limit in the account.