Multiple choice

Which of the following accounts does not earn any interest but also liable to pay service and incidental charges?

  1. Current account

  2. Savings bank account

  3. Fixed deposit account

  4. Reinvestment account

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Current accounts are designed for regular business transactions and do not earn interest. Banks charge service fees and maintenance charges on these accounts to cover operational costs. Savings accounts, fixed deposits, and reinvestment accounts all earn interest, making them different from current accounts.