Money deposited in monthly installments for a fixed period of time is called

Fixed deposit

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Recurring deposit

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Demand deposit

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Savings deposit

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Solution

The correct option is B
Recurring deposit

Money deposited in monthly installments for a fixed period of time is called a recurring deposit and works to encourage regular saving habits among people.

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Similar questions

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Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs. 59500, then Ravi's total monthly savings (in Rs) is___

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Money deposited in monthly installments for a fixed period of time is called

The correct option is B Recurring deposit Money deposited in monthly installments for a fixed period of time is called a recurring deposit and works to encourage regular saving habits among people.

The correct option is B
Recurring deposit

Money deposited in monthly installments for a fixed period of time is called a recurring deposit and works to encourage regular saving habits among people.