Question

ii. In the case of savings bank account withdrawal of money is
allowed only by the account-holder.
viii. Banks do not pay interest on the balance of current deposit
account.

Answer 1

Explanation:

No money is not

allowed only by the account-holder.

Answer 2

Answer:

i) It is False, In the case of savings bank account, withdrawal of money is allowed only by the account-holder

If a person has finite income and needs to 'save money for future wants', the 'Savings Bank Account' is most convinced for his purpose. This type of 'account can be created' with a less initial deposit that changes from bank to bank. Money can be deposited at any time in this account.

ii) It is True, Banks do not pay interest on the balance of the current deposit account.