Banking Awareness - Types Of Bank Accounts
Which type of bank account is best suited for salaried individuals who want to save a fixed amount every month?
Which type of bank account is best suited for salaried individuals who want to save a fixed amount every month?
easy Q1 of 15
Step-by-Step Solution
Step 1: Identify the income pattern.
Salaried individuals earn income monthly.Step 2: Match with saving requirement.
The account should allow fixed monthly deposits.Final Answer:
Recurring Deposit Account → Option AQuick Check:
Monthly income + monthly saving = RD Account ✅
Quick Trick: Monthly saving habit always points to RD.
Common Mistakes:
MISTAKES- Choosing FD despite absence of lump-sum money.
Master "Types Of Bank Accounts" in Banking Awareness
Start learning the concept with an interactive lesson.
Want More Practice?
15+ quiz questions · All difficulty levels · Free
Free Signup - Practice All QuestionsMore Banking Awareness Quizzes