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Different Types of Accounts

on which depo...

Question

on which deposit the higher rate of interest under commercial banks also give reason

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Solution

Dear Student,
The highest rate of interest is provided on the Fixed deposits.Though the rate is flexible according to the tenure of deposit because the amount of money is fixed and locked for a certain fixed number of year(7 to 10). It provides banks with a large sum of money fixed for a longer period of time.
Regards,

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