Banking Awareness - Types Of Bank Accounts
Which bank account allows individuals to earn interest while keeping their money available for regular withdrawals?
Which bank account allows individuals to earn interest while keeping their money available for regular withdrawals?
easy Q11 of 15
Step-by-Step Solution
Step 1: Identify the account type for individuals.
The question refers to an account mainly used by individuals.Step 2: Check the interest feature.
The account must earn interest on the balance.Step 3: Check withdrawal flexibility.
Money should be withdrawable regularly without a fixed lock-in.Final Answer:
Savings Account → Option AQuick Check:
Interest earning + flexible withdrawal = Savings Account ✅
Quick Trick: Interest + easy withdrawals always indicate a savings account.
Common Mistakes:
- Choosing FD or RD without noticing withdrawal flexibility.
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