Question : Which of the following is a feature of a credit card?
Option 1: High interest rate
Option 2: No credit limit
Option 3: No annual fee
Option 4: No penalty for late payment
Correct Answer: No annual fee
Solution : The correct answer is (c). No annual fee
Credit cards are a type of payment card that allows users to borrow funds from a financial institution (usually a bank) to make purchases or withdraw cash up to a certain credit limit. While credit card terms and conditions can vary, it is common for credit cards to have an annual fee.It's worth noting that credit card features can vary depending on the specific card and the terms and conditions set by the credit card issuer.
Option 1: High-interest rate
Option 2: Pre-approved credit limit
Option 3: Fixed repayment scheduled
Option 4: No annual fee
Question : Which of the following is not a feature of a savings account?
Option 2: Limited number of transactions
Option 3: Low balance requirement
Option 4: No cheque book facility
Question : Which of the following is not a feature of a fixed deposit account?
Option 2: Fixed maturity period
Option 3: Flexible withdrawal option
Option 4: Penalty for premature withdrawal
Question : Which of the following is a feature of a fixed deposit account?
Option 1: Low interest rate
Option 2: Flexible withdrawal option
Option 3: Fixed maturity period
Option 4: No penalty for premature withdrawal
Question : Which of the following is a feature of a savings certificate?
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