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Which deposit category includes both savings and current accounts?

medium Q5 of 15
Banking Awareness - Basics Of Banking & Banking Terminology
Which deposit category includes both savings and current accounts?
ADemand Deposits
BTime Deposits
CTerm Deposits
DRecurring Deposits
Step-by-Step Solution

  1. Step 1: Recall classification rule

    Deposits are classified based on withdrawal flexibility.

  2. Step 2: Match with category

    Savings and current accounts allow withdrawal on demand.

  3. Final Answer:

    Demand Deposits → Option A

  4. Quick Check:

    Withdraw anytime = demand deposit ✅
Quick Trick: Demand = savings + current.
Common Mistakes:
  • Placing savings under time deposits.
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