Banking Awareness - Types Of Bank Accounts
Which of the following accounts is mainly opened for personal saving purposes and not for business transactions?
Which of the following accounts is mainly opened for personal saving purposes and not for business transactions?
easy Q12 of 15
Step-by-Step Solution
Step 1: Identify the purpose mentioned.
The account should be meant for personal savings.Step 2: Eliminate business-oriented accounts.
Current, cash credit, and overdraft accounts are business-focused.Final Answer:
Savings Account → Option BQuick Check:
Personal use + saving habit = Savings Account ✅
Quick Trick: Personal saving purpose rules out all business accounts.
Common Mistakes:
- Assuming current accounts can be used for personal saving.
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