No interest is paid by the bank in ______ account.
saving
recurring deposit
All of above
current
A
saving
B
current
C
All of above
D
recurring deposit
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Solution
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1.Savings account opened with a bank will earn the account-holder a percentage of interest as applicable to the account.
2.Recurring deposit account also attracts interest rate which is higher than what you get in a savings bank account.
3.Current account does not earn any interest on the money deposited. It is opened by businesses who have a higher number of transactions. There is no restriction on the number of times deposits or withdrawals that can be made.
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