10 Questions
What is the primary function for which commercial banks were established?
Accepting deposits from the general public
What is the minimum initial deposit required to open a savings bank account?
Varies from bank to bank
Who is a savings bank account suitable for?
People with definite income looking to save money
What is the purpose of a savings bank account?
To help individuals save money and earn interest
Who can make withdrawals from a savings bank account?
The account holder
What is the primary function for which commercial banks were established?
To accept deposits from the general public
What is the purpose of a savings bank account?
To provide individuals with a means to save money and earn interest
Who is a savings bank account suitable for?
People with a definite income looking to save money
Who can make withdrawals from a savings bank account?
Account holders
What is the minimum initial deposit required to open a savings bank account?
It varies from bank to bank
Test your knowledge of banking services with this quiz on deposit services, one of the primary functions of commercial banks. Explore the key concepts and utility services provided by banks to customers and the public.
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