Advertisements
Advertisements
प्रश्न
Define explain the following concept.
Fixed deposits
टीपा लिहा
Advertisements
उत्तर
Fixed deposits: Fixed account deposits (also known as time deposits) refer to those deposits that are held for a fixed (specific) period of time (called maturity period). These deposits cannot be withdrawn before the maturity period. Hence, these are not payable on demand. Also, these deposits are non-cheque able deposits. However, due to the longer lock-in period
involved in the fixed account deposits, these deposits involve a higher rate of interest than that earned on the savings account deposits.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
