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Which objective is most closely associated with opening a recurring deposit account?

medium Q5 of 15
Banking Awareness - Types Of Bank Accounts
Which objective is most closely associated with opening a recurring deposit account?
ADisciplined long-term saving
BFrequent business payments
CParking surplus lump-sum funds
DShort-term credit requirement
Step-by-Step Solution

  1. Step 1: Identify saving purpose.

    RD is designed for systematic saving.

  2. Step 2: Match with objective.

    Regular deposits promote discipline.

  3. Final Answer:

    Disciplined long-term saving → Option A

  4. Quick Check:

    Systematic saving habit = RD Account ✅
Quick Trick: Discipline and regularity define RD.
Common Mistakes:
  • Linking RD with business usage.
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