Question

Fixed Deposit Account facility is availed by :
a) Businessman
b) Salaried people
c) People want to save money for long period
d) Who want to get the interest on monthly basis

Answer 1

Answer:

c

the people who want to save money for certain amount of time ,usually use this option.

Answer 2

'Fixed Deposit Account Facility' is availed by people 'who want to save money for a 'long period.'

Answer: Option (c)  

Explanation:  

Fixed Deposits are specific financial instruments governed by 'banks and other NBFCs' that enable the depositors to earn a higher interest rate than a 'normal savings account', and the money is kept for a stipulated time and is given back to the depositor on the completion of maturity. Interests are earned on the sum fixed and can be taken out by the 'depositor' on a quarterly, monthly or annual basis or can be earned back during maturity too.