Podcast
Questions and Answers
What is the purpose of opening a current account?
What is the purpose of opening a current account?
- To facilitate financial transactions (correct)
- To save money
- To earn minimal interest for keeping a minimum balance
- To allow fast cash turnover
Which type of account has a holding period and a maturity date?
Which type of account has a holding period and a maturity date?
- ATM account
- Debit card account
- Savings account (correct)
- Current account
What is the purpose of a deposit slip?
What is the purpose of a deposit slip?
- To withdraw money from the bank
- To put money in the bank (correct)
- To transfer money to another account
- To pay bills at the bank
What is required to avail a bank account?
What is required to avail a bank account?
What is the primary purpose of opening a savings account?
What is the primary purpose of opening a savings account?
What is the main purpose of opening a current account?
What is the main purpose of opening a current account?
Which type of account rarely earns interest due to its fast cash turnover?
Which type of account rarely earns interest due to its fast cash turnover?
What is the daily maintaining balance requirement for a current account?
What is the daily maintaining balance requirement for a current account?
Which document is required for opening both a savings account and a current account?
Which document is required for opening both a savings account and a current account?
What type of bank account provides incentive for depositors to save and earn minimal interest for keeping a minimum balance?
What type of bank account provides incentive for depositors to save and earn minimal interest for keeping a minimum balance?
What is the purpose of a time deposit account?
What is the purpose of a time deposit account?
What essential information is required to make a withdrawal using a withdrawal slip?
What essential information is required to make a withdrawal using a withdrawal slip?
What is the purpose of a debit card or ATM in relation to a time deposit account?
What is the purpose of a debit card or ATM in relation to a time deposit account?
What is the main purpose of a deposit slip?
What is the main purpose of a deposit slip?
What should be handed to the bank teller for verification and recording during bank transactions?
What should be handed to the bank teller for verification and recording during bank transactions?
What type of bank account rarely earns interest except for hybrid accounts for premium deposits?
What type of bank account rarely earns interest except for hybrid accounts for premium deposits?
What type of account has a fixed-term and can only be withdrawn after the lapse of the agreed period?
What type of account has a fixed-term and can only be withdrawn after the lapse of the agreed period?
