Advertisements
Advertisements
प्रश्न
In this account, the account holder is required to deposit a specific amount every month. After the expiry of the specified period, the depositor gets back his money together with interest thereon.
विकल्प
Current account
Recurring deposit account
Saving account
None of these
Advertisements
उत्तर
Recurring deposit account
Explanation:
A Recurring Deposit (RD) account is a type of term deposit that allows for regular, disciplined monthly savings. It firmly demands the consumer deposit a predetermined, fixed sum of money at regular monthly intervals for a specified duration. When the set period expires and maturity is achieved, the bank returns the total accrued principal to the depositor, along with the compounded interest generated during that timeframe.
APPEARS IN
संबंधित प्रश्न
______ is a book issued by a bank to an account holder.
______ are the main types of bank accounts.
A fixed deposit is also known as ______.
In this type of account, no cheque book is issued to the account holder:
ATM means ______.
What is a savings deposit?
What is a Recurring Deposit Account?
