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Q17.  Term deposits


  1. a) Does not have a fixed period of maturity

  2. b) Can be withdrawn anytime using demand instruments

  3. c) Is also called fixed deposits

  4. d) Does not get interests on them


Solution

The correct option is C

c) Is also called fixed deposits


Ans. C

Term deposits are also called as fixed deposits or time deposits They have a fixed period of maturity demand instrument such as cheques and demand drafts can’t be used to withdraw money from term deposits

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