These types of deposits have common features of fixed deposits and savings deposit . I dentify the deposits. Explain the common features.

Open in App

Solution

These are multiple option Deposit accounts. The following are some of its features.
a. These are combination of saving account and fixed account.
b. The interest is the same as fixed accounts interest
c. Thier liquidity is same as current or saving account.

Suggest Corrections

Similar questions

Q. State two differences between fixed deposits and savings deposits.

List down any three features of a fixed deposit account

Q. Which of these is not a feature of demand deposits in banks?

Q. In the case of recurring deposits, the interest rate is higher than that of saving deposits but less than that of fixed deposits.

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___

Join BYJU'S Learning Program

These types of deposits have common features of fixed deposits and savings deposit . I dentify the deposits. Explain the common features.

These are multiple option Deposit accounts. The following are some of its features. a. These are combination of saving account and fixed account. b. The interest is the same as fixed accounts interest c. Thier liquidity is same as current or saving account.

These are multiple option Deposit accounts. The following are some of its features.
a. These are combination of saving account and fixed account.
b. The interest is the same as fixed accounts interest
c. Thier liquidity is same as current or saving account.