When a certain amount is deposited for a fixed period such as six months, one year or longer. Such type of account is
A
saving account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
current account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
recurring deposit account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
fixed deposit account
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution
The correct option is B fixed deposit account When a certain amount is deposited for a fixed period such as six months, one year or longer. such type of account is fixed deposit account.