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प्रश्न
A recurring deposit account allows the account holder to withdraw the entire deposited amount along with interest at any time before the maturity period.
पर्याय
True
False
MCQ
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उत्तर
False
Explanation:
A Recurring Deposit (RD) is a time deposit designed for regular monthly savings over a set period for time, with the complete cumulative amount and interest only payable at maturity. While account holders can request a premature withdrawal in an emergency, doing so usually results in a penalty fee and a lower interest rate, so it is false to state that the entire amount can be taken freely at any time.
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