Advertisements
Advertisements
Question
Rate of interest on savings account is more than that on recurring account.
Options
True
False
MCQ
True or False
Advertisements
Solution
The statement is False.
Explanation:
Savings account interest rates are lower because funds can be withdrawn on demand. In the event of recurring deposits, however, the cash is deposited for a few months with no withdrawal option over a set length of time.
shaalaa.com
Market Equilibrium
Is there an error in this question or solution?
