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Which deposit is opened mainly to inculcate saving habits among salaried individuals?

medium Q6 of 15
Banking Awareness - Basics Of Banking & Banking Terminology
Which deposit is opened mainly to inculcate saving habits among salaried individuals?
AFixed Deposit
BRecurring Deposit
CCurrent Deposit
DTerm Deposit
Step-by-Step Solution

  1. Step 1: Identify target group

    The question focuses on salaried individuals and saving habits.

  2. Step 2: Match with deposit nature

    Recurring deposits encourage disciplined monthly savings.

  3. Final Answer:

    Recurring Deposit → Option B

  4. Quick Check:

    Regular income suits RD structure ✅
Quick Trick: Habit-building savings = RD.
Common Mistakes:
  • Choosing FD which requires lump sum.
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