Multiple choice

In Fixed Deposit A/c

  1. A person can deposit any amount any number of times<o:p></o:p>

  2. A fixed amount has to be deposited for a fixed period <o:p></o:p>

  3. A fixed amount has to be deposited every month<o:p></o:p>

  4. Cash loan is recieved

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

Right answer Because in Fixed Deposit a fixed amount has to be deposited for a fixed time. For instance a fixed amount of Rs 20,000 is deposited in abnk for a period of five years. The rate of interest is higher on it, since it cannot be withdrawn before the expiry of that fixed time.

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