Question

You can use a _______ to save your money and earn interest on it at the same time.

• A. savings account
• B. fixed deposit account
• C. recurring deposit account
• D. current bank account

Answer 1

The correct option is A savings account

$\Rightarrow$ You can use a $savingsaccount$ to save your money and earn interest on it at the same time.

$\Rightarrow$ Savings accounts pay interest on money in your accounts. As a result, your bank will make small additions to your account, typically every month.

$\Rightarrow$ The interest rate depends on economic conditions and your bank's desire to compete with other banks.