Banking Awareness - Types Of Bank Accounts
What mainly differentiates a Basic Savings Bank Deposit Account (BSBDA) from a normal savings account?
What mainly differentiates a Basic Savings Bank Deposit Account (BSBDA) from a normal savings account?
medium Q6 of 15
Step-by-Step Solution
Step 1: Recall BSBDA objective.
It is designed for financial inclusion.Step 2: Identify distinguishing feature.
BSBDA comes with transaction and service limits.Final Answer:
BSBDA has limits on transactions and services → Option CQuick Check:
Inclusion-focused + limits = BSBDA ✅
Quick Trick: Restrictions indicate BSBDA.
Common Mistakes:
- Assuming interest rate is the only difference.
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