Question : Which of the following is not a type of deposit account offered by banks?
Option 1: Savings account
Option 2: Current account
Option 3: Fixed deposit account
Option 4: Demat account
Correct Answer: Demat account
Solution : The correct answer is (d) Demat account.
A demat account is not a type of deposit account offered by banks. It is a type of account provided by depository participants (DPs) to hold and trade securities in electronic form. Demat accounts are primarily used for holding shares, bonds, and other securities in a dematerialized or electronic format. They facilitate the buying, selling, and transferring of securities without the need for physical certificates.
Question : Which of the following is not a type of demand deposit account?
Option 4: None of the above
Question : Which of the following is not a type of term deposit account?
Option 1: Fixed deposit account
Option 2: Recurring deposit account
Option 3: Current deposit account
Option 4: Tax-saving deposit account
Question : Which of the following is not a type of bank account?
Option 2: Demat account
Option 3: Credit account
Option 4: Current account
Option 1: Current account
Option 2: Saving 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
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile