MC38 Which of the following is a type of bank account that offers a higher rate of interest than a regular savings account?
A. Current account
B. Savings account
C. Fixed deposit account
D. Recurring deposit account
Answer:C
MC38 Which of the following is a type of bank account that offers a higher rate of interest than a regular savings account?
A. Current account B. Savings account C. Fixed deposit account D. Recurring deposit account
Explanation: A fixed deposit account is a type of bank account that offers a higher rate of interest than a regular savings account. In a fixed deposit account, the customer deposits a certain amount of money for a fixed period of time, and the bank pays a predetermined rate of interest on the deposit. The rate of interest on fixed deposits is generally higher than that on savings accounts, and the interest rate remains fixed for the entire term of the deposit.