Question : Which of the following is not a feature of a current account?
Option 1: Low interest rate
Option 2: Unlimited number of transactions
Option 3: No balance requirement
Option 4: Cheque book facility
Correct Answer: No balance requirement
Solution : The correct answer is (c) No balance requirement
A current account is a type of bank account that is typically used for business purposes. It is designed to facilitate frequent and regular transactions.
However, current accounts usually require a minimum balance to be maintained, and there may be charges if the balance falls below the specified threshold.
Question : Which of the following is not a feature of a savings account?
Option 1: High interest rate
Option 2: Limited number of transactions
Option 3: Low balance requirement
Option 4: No cheque book facility
Option 1: Interest-bearing account
Option 2: Low balance requirement
Option 3: Unlimited transactions
Option 4: Overdraft facility
Question : Which of the following is not a feature of a demand deposit account?
Option 3: No maturity period
Question : Which of the following is a feature of a current account?
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 a feature of a savings bank account?
Option 2: Limited number of transactions allowed per month
Option 3: High minimum balance requirement
Option 4: High liquidity
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