Question

State with Reasons whether the following statement TRUE or FALSE.

Current account is suitable for salaried people.

Options

• True 

• False 

Answer 1

Current account is suitable for salaried people- False
Explanation:
No, current account is not suitable for salaried people. This account is generally meant for business class people who make and receive a large number of payments. On the other hand saving account is more suitable for the salaried people as it helps in saving a portion of their income.