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Why do banks introduce special customer accounts such as student and senior citizen accounts?

hard Q8 of 15
Banking Awareness - Types Of Bank Accounts
Why do banks introduce special customer accounts such as student and senior citizen accounts?
ATo reduce regulatory burden
BTo restrict banking access
CTo provide tailored services to specific groups
DTo eliminate interest payments
Step-by-Step Solution
  1. Step 1: Identify the objective.

    Special accounts target specific customer needs.
  2. Step 2: Match with purpose.

    They offer customised features and benefits.
  3. Final Answer:

    To provide tailored services to specific groups → Option C
  4. Quick Check:

    Special group = customised banking ✅
Quick Trick: Special accounts exist to meet special needs.
Common Mistakes:
MISTAKES
  • Thinking special accounts reduce services.
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