Question

Banks provide a higher rate of interest on which of the following accounts?
(a) Saving account
(b) Current account
(c) Fixed deposits for long period
(d) Fixed deposits for very short period​

Answer 1

Answer:

Banks provide a higher rate of interest on

Fixed Deposits for long period.

 

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Answer 2

Answer:

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. ... The interest rate varies between 4 and 7.50 percent.