Question : Which of the following is a feature of a savings certificate?
Option 1: Low interest rate
Option 2: Flexible withdrawal option
Option 3: Fixed maturity period
Option 4: No penalty for premature withdrawal
Correct Answer: Fixed maturity period
Solution : The correct answer is (c). Fixed maturity period
A feature of a savings certificate is a fixed maturity period. Savings certificates are financial instruments offered by banks or other financial institutions that provide a fixed rate of return over a specific period of time. During this fixed maturity period, the funds deposited in the savings certificate cannot be withdrawn without penalties or limitations. The maturity period can range from a few months to several years, depending on the terms and conditions set by the issuer.
Question : Which of the following is a feature of a fixed deposit account?
Question : Which of the following is not a feature of a fixed deposit account?
Option 1: High interest rate
Option 2: Fixed maturity period
Option 3: Flexible withdrawal option
Option 4: Penalty for premature withdrawal
Question : Which of the following is not a feature of a term deposit account?
Question : Which of the following is a feature of a certificate of deposit?
Option 2: Flexible maturity period
Option 3: Transferable
Option 1: Flexible maturity period
Option 2: Withdrawals allowed at any time
Option 3: Low interest rate
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