Question : Which of the following is a feature of a savings bank account?
Option 1: Low interest rate
Option 2: Limited number of transactions allowed per month
Option 3: High minimum balance requirement
Option 4: High liquidity
Correct Answer: High liquidity
Solution : The correct answer is (d). High liquidity
A savings bank account is designed to provide individuals with a safe place to deposit their savings while maintaining easy access to their funds. High liquidity means that the funds in a savings bank account can be readily accessed and withdrawn by the account holder whenever needed without any significant restrictions or penalties. This makes savings bank accounts a popular choice for individuals to park their emergency funds or maintain liquid savings for day-to-day expenses.
Question : Which of the following is a feature of a current account?
Option 1: High interest rate
Option 2: No limit on the number of transactions allowed per month
Option 3: Fixed maturity period
Option 4: Low minimum balance requirement
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 current account?
Option 2: Unlimited number of transactions
Option 3: No balance requirement
Option 4: Cheque book facility
Question : Which of the following is a feature of a commercial paper?
Option 1: Low liquidity
Option 2: High credit rating requirement
Option 3: High interest rate
Option 4: No fixed maturity period
Option 1: Interest-bearing account
Option 2: Low balance requirement
Option 3: Unlimited transactions
Option 4: Overdraft facility
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