Question : Which of the following is not a feature of a demand deposit account?
Option 1: High interest rate
Option 2: Unlimited number of transactions
Option 3: No maturity period
Option 4: Cheque book facility
Correct Answer: High interest rate
Solution : a). High interest rate
A high interest rate is not a typical feature of a demand deposit account. Demand deposit accounts, such as savings accounts and current accounts, are designed for easy access to funds and daily transactions. They typically offer lower interest rates compared to other types of accounts like fixed deposit accounts or savings certificates. The other options mentioned, including unlimited number of transactions, no maturity period, and cheque book facility, are common features of demand deposit accounts.
Question : Which of the following is not a feature of a current account?
Option 1: Low interest rate
Option 3: No 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 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 2: Flexible withdrawal option
Option 3: Fixed maturity period
Option 4: No penalty for premature withdrawal
Question : Which of the following is not a feature of a term deposit account?
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