Question

What is the purpose of opening a bank account?

• A. It makes cash deposition and withdrawal easy and safe.
• B. It helps to keep the money safe and in some cases also provides interest on the total account balance.
• C. It provides detailed transactions summary.
• D. With the help of a bank account we can enroll for aadhaar card

Answer 1

Answer: (A), (B), (C)

The correct options are
A It makes cash deposition and withdrawal easy and safe.
B It helps to keep the money safe and in some cases also provides interest on the total account balance.
C It provides detailed transactions summary.

A bank account serves features like,
It makes cash deposition and withdrawal easy,
for some accounts also provides interest on total sum of money in the account like in savings account, provides detailed transactions summary and also acts as a locker where our money is safe.