9 Questions
What is the term used to describe the money that people and companies put into banks?
Liability products
What is the primary difference between a demand deposit and a term deposit?
Time period
What is the range of interest rates for current account and savings bank accounts?
4% to 6%
What is the name of the deposit that can be accessed at any time without prior notice to the bank?
Demand Deposit
What is the name of the deposit that has a fixed time period and cannot be accessed until the lock period is served?
Term Deposit
What is the range of interest rates for term deposits?
7% to 9%
What is the term used to describe deposit products that are known to consumers?
Deposit products
How can an account holder access their demand deposit?
Through ATMs or online banking
What is the characteristic of a term deposit that prevents withdrawals until maturity?
Lock period
Test your understanding of banking fundamentals, including liabilities and assets. Learn about the different types of deposit products and how they represent liabilities for banks. Get ready to assess your knowledge of banking concepts!
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