Banking Awareness - Types Of Bank Accounts
Which of the following accounts is most suitable for building savings gradually over time?
Which of the following accounts is most suitable for building savings gradually over time?
easy Q12 of 15
Step-by-Step Solution
Step 1: Understand the saving objective.
The goal is to accumulate savings gradually.Step 2: Identify the suitable account.
Recurring Deposit allows systematic monthly savings.Final Answer:
Recurring Deposit Account → Option BQuick Check:
Gradual saving over months = RD Account ✅
Quick Trick: Slow and steady saving = RD.
Common Mistakes:
- Confusing gradual saving with lump-sum FD deposits.
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