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
Correct Answer: Current deposit account
Solution : The correct answer is (c). Current deposit account
A current deposit account is not a type of term deposit account. A current deposit account is a type of demand deposit account typically used by businesses and individuals for regular banking transactions. It is primarily meant for frequent transactions, and there is no specific maturity period associated with it.
Question : Which of the following is not a type of demand deposit account?
Option 1: Savings account
Option 2: Current account
Option 3: Fixed deposit account
Option 4: None of the above
Option 1: Current account
Option 2: Saving account
Question : Which of the following is not a type of deposit account offered by banks?
Option 4: Demat 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
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
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