Question

Which among the following is NOT Part of ‘Term of Credit’? 1. Interest Rate 2. Collateral 3. Mode of Repayment 4. Pass Book A. Only 1,2 and 3. B. Only 2 and 4. C. Only4 D. All of the above

Answer 1

Answer:

Which among the following is NOT Part of ‘Term of Credit’?

1. Interest Rate

2. Collateral

3. Mode of Repayment

4. Pass Book

A. Only 1,2 and 3.

B. Only 2 and 4.

C. Only4 ✔️✔️✔️✔️

D. All of the above

Answer 2

Answer:

Option C, option 4 only

Explanation:

Passbook also known as Bank Statement is a detail of the transaction the user has made in his account for a certain period of time. When a customer deposits any money or withdraws any amount, then it is recorded by the bank. Normally the pass books are given to account holders as per their request, usually it shares record for past 6 months