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Deposit Services Quiz

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Questions and Answers

What is the primary function for which commercial banks were established?

Providing utility services to customers

Issuing credit cards

Investing in businesses

Accepting deposits from the general public (correct)

What is the minimum initial deposit required to open a savings bank account?

Not required

Depends on the account holder's income

Fixed at $1000

Varies from bank to bank (correct)

Who is a savings bank account suitable for?

People with no regular income

Business owners looking to invest surplus funds

People with definite income looking to save money (correct)

Individuals seeking high-risk investments

What is the purpose of a savings bank account?

To help individuals save money and earn interest Signup and view all the answers

Who can make withdrawals from a savings bank account?

The account holder Signup and view all the answers

What is the primary function for which commercial banks were established?

To accept deposits from the general public Signup and view all the answers

What is the purpose of a savings bank account?

To provide individuals with a means to save money and earn interest Signup and view all the answers

Who is a savings bank account suitable for?

People with a definite income looking to save money Signup and view all the answers

Who can make withdrawals from a savings bank account?

Account holders Signup and view all the answers

What is the minimum initial deposit required to open a savings bank account?

It varies from bank to bank Signup and view all the answers

Deposit Services Quiz

Choose a study mode

Podcast

Questions and Answers

What is the primary function for which commercial banks were established?

What is the minimum initial deposit required to open a savings bank account?

Who is a savings bank account suitable for?

What is the purpose of a savings bank account?

Who can make withdrawals from a savings bank account?

What is the primary function for which commercial banks were established?

What is the purpose of a savings bank account?

Who is a savings bank account suitable for?

Who can make withdrawals from a savings bank account?

What is the minimum initial deposit required to open a savings bank account?

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