Question

The account suitable for creating a saving habit is ________. (Fill in the blank by choosing correct option)
a) Current account
b) Recurring deposit account
c) Saving account.

Answer 1

Answer:

The account suitable for creating a saving habit is the savings account.

Explanation:

In a customers current account, there is the option of as many withdrawals as one wants. That decreases the chances of keeping savings. The customer must keep much self control.

A savings account is specifically designed to keep the savings of a customer. It also gives the customer a chance to get some interest on the savings in their account which gives them an incentive to increase their savings. It also requires monthly deposits, another factor which adds to more savings.

Answer 2

Answer:

The account suitable for creating a saving is Saving account.

Explanation:

Saving account:

Savings accounts are accounts maintained by retail financial institutions that provide interest, hence they are best suited for salaried employees or people with monthly income. In these accounts, customers can earn a small amount of interest (monetary return) along with keeping some part of their excess money separate. The main purpose of a saving accounts is to encourage people towards saving, so they do not allow for many transactions.