Bank Account Match-Up Activity

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StableAmaranth
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Questions and Answers

What is highlighted as a benefit of having a bank account?

Potential for growth through interest rates

Which type of account is specifically mentioned as one of the available account types?

DEMAT account

What is the purpose of a withdrawal slip?

Withdraw cash from the account

What are the limitations of a withdrawal slip?

<p>Limited to a certain amount</p> Signup and view all the answers

What is the key difference between a cheque and a demand draft?

<p>Purpose</p> Signup and view all the answers

How does filling out a banking form benefit the customer?

<p>Simplifies transactions</p> Signup and view all the answers

What is the purpose of the 'Bank Account Match-Up' activity?

<p>To reinforce understanding of different types of bank accounts and their features</p> Signup and view all the answers

What does each student receive in the 'Bank Account Match-Up' activity?

<p>A card with an account type and another with corresponding features</p> Signup and view all the answers

How are students instructed to find their matches in the 'Bank Account Match-Up' activity?

<p>By walking around the classroom and finding the student with the matching account type or feature</p> Signup and view all the answers

What is introduced as a follow-up after the 'Bank Account Match-Up' activity?

<p>A class discussion to reinforce concepts and clarify misconceptions</p> Signup and view all the answers

How many types of bank accounts were initially available in India according to the text?

<p>Four</p> Signup and view all the answers

What led to the introduction of new types of bank accounts in India?

<p>Technological advancements in banking</p> Signup and view all the answers

What type of bank account involves depositing a fixed amount for a specific period at a fixed interest rate, providing higher returns?

<p>Fixed Deposit Account</p> Signup and view all the answers

Which bank account is primarily designed for individuals to save money, earn interest, and make limited withdrawals?

<p>Savings Account</p> Signup and view all the answers

Which type of bank account is ideal for business transactions, allowing unlimited withdrawals and no or minimal interest?

<p>Current Account</p> Signup and view all the answers

What bank account requires regular deposits of a fixed amount for a predetermined period, with interest accrued?

<p>Recurring Deposit Account</p> Signup and view all the answers

Which account type holds shares and securities in electronic form, facilitating easy trading and safekeeping of investments?

<p>Demat Account</p> Signup and view all the answers

Which type of bank account is more suitable for professional or official purposes due to its formality?

<p>Current Account</p> Signup and view all the answers

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