Banking Awareness - Types Of Bank Accounts
What is the usual consequence of missing an instalment in a recurring deposit account?
What is the usual consequence of missing an instalment in a recurring deposit account?
medium Q14 of 15
Step-by-Step Solution
Step 1: Identify the situation.
The question refers to non-payment of an instalment.Step 2: Recall bank rules.
Banks usually levy a penalty for missed RD instalments.Final Answer:
Penalty may be charged → Option DQuick Check:
Missed RD instalment = penalty applicable ✅
Quick Trick: Skipping RD instalment usually attracts penalty.
Common Mistakes:
- Assuming instalments can be skipped without consequence.
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