Questions 1. Whar can we do at the bank? 2. In which account would Sita do her saving? 3. What is a saving account? 4. What do you mean by FD? 5. Can we withdraw the amount deposited in Fixed Deposit Account whenever we want? 6. How much interest is paid on Fixed Deposit Account by various banks? Write the rate of interest given any 5 banks. 7. What did Sita do when she had shortage of money at the time of marriage? 8. Form which bank did she take the loan? 9. How much interest is charged by the Punjab National Bank on personal loans? 10. How did she repay her loan?
Answers
Explanation:
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3) A savings account is an interest-bearing deposit account held at a bank or other financial institution. Though these accounts typically pay a modest interest rate, their safety and reliability make them a great option for parking cash you want available for short-term needs.
4)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.
5) Fixed deposits, with premature withdrawal facility, allow the depositor to close the FD before the date of maturity arrives. This comes as a relief in times of cash crunch. However, a certain amount may be required to be paid by the depositor as a penalty to the bank.
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