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Question
______ refer to those deposits in which amount is deposited with bank for a fixed period of time.
______ refer to those deposits in which amount is deposited with bank for a fixed period of time.
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Solution
The correct option is B Time Deposits
A time deposit is an interest bearing bank account deposit that has a specified date of maturity, the funds in these accounts must be held for a fixed term and include the understanding that the depositor can withdrawal only by giving notice.
A time deposit is an interest bearing bank account deposit that has a specified date of maturity, the funds in these accounts must be held for a fixed term and include the understanding that the depositor can withdrawal only by giving notice.
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