Question

The saving bank deposits can be opened with a small amount.

• A. True
• B. False

Answer 1

The correct option is A True

True.

Saving bank deposits refers to the type of bank account which is opened by the people in order to save a part of their income. Saving bank deposits can be operated with small sum of money as these type of accounts are encouraged by all the commercial banks because it accumulates huge amount of deposit and are paid nominal rate of interest.