Question

Which of the following statements are true and which are false?
i. Deposits made in savings bank account serve to meet present
as well as future needs.
ii. A fixed amount is required to be deposited in a Fixed Deposit
Account every month.
iii. The rate of interest on deposits made in a Recurring Deposit
Account is relatively higher than on savings bank deposits.
iv. Current Deposit Account can be opened only by businessmen,
not by an educational institutions.
v. Home Construction Saving Deposit Account is a type of
recurring deposit account.
vi. The rate of interest allowed on fixed deposit depends on the
length of the period for which the deposit is made.

Answer 1

Answer:

1)False

2)True

3)True

4) False

5)True

6) True