What is the kind of account where the money is deposited for a particular period of time and, the money cannot be withdrawn before that fixed tenure?

Savings Account

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Recurring Deposit Account

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Fixed Deposit Account

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Current Account

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Solution

The correct option is C Fixed Deposit Account
Fixed deposit is a kind of account where the money is deposited for a particular period of time and, the money cannot be withdrawn before that fixed tenure. There is a penalty if user wants to withdraw money before tenure.

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Deposits of money which cannot be withdrawn before the stipulated period of time are

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