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Which type of deposit is primarily opened by business firms for frequent transactions?

easy Q11 of 15
Banking Awareness - Basics Of Banking & Banking Terminology
Which type of deposit is primarily opened by business firms for frequent transactions?
ACurrent Deposit
BFixed Deposit
CRecurring Deposit
DTerm Deposit
Step-by-Step Solution

  1. Step 1: Identify user type

    The question refers to business firms with frequent transactions.

  2. Step 2: Match with deposit feature

    Current deposits allow unlimited transactions and are used for business.

  3. Final Answer:

    Current Deposit → Option A

  4. Quick Check:

    Business transactions need flexibility, which current accounts provide ✅
Quick Trick: Business use + frequent withdrawals = Current deposit.
Common Mistakes:
  • Choosing savings deposit for business purposes.
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