Question

Q. 5. Mr. X goes to State Bank of India to open his Saving Account there. On visiting the
bank he learns that there is some account available which is better than the saving account.
The specialty of this account is that as an when the deposited amount in the account
exceeds a certain amount, the amount in excess gets transferred into the fixed deposit. The
interest earned on the fixed deposit is more than that on the saving account. This account
serves the purpose of both the saving account and fixed deposit account. Mr. X gets this
account opened
Identify this account and explain it. 5​

Answer 1

Answer:

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