____ refer to those deposits in which amount is deposited with bank for a fixed period of time
____ refer to those deposits in which amount is deposited with bank for a fixed period of time.
(a) Current Deposits
(b) Time Deposits
(c) Demand Deposits
(d) Savings Deposits
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Ans – (b)
Explanation:-
Time Deposits:- It refers to those deposits, in which the amount is deposited with the bank for a fixed period of time.
1. Such deposits do not enjoy a chequeable facility.
These deposits carry a high rate of interest.
Additional Information:-
Time Deposits are also known as:
1. Fixed Deposits
2. Term Deposits
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