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Satyam rawat

· started a discussion

· 1 Months ago

Wrong answer (Question:148960.0)

Saving account open from 0 balance .
So saving has no minimum limit

Question:

Which of the following statement/s is/are incorrect?

Options:
A)

Current Account accounts for the smallest fraction among the current, savings and term deposits

B)

Savings account is actually a demand deposit

C)

Current account has overdraft facilities

D)

Savings Account has Minimum Balance Requirements

Solution:

Savings Account may or may not have Minimum Balance Requirement. It depends on the discretion of the bank. It is the minimum amount that a customer must have in an account in order to receive some sort of service, such as keeping the account open or receive interest.   

Knowledge Expert

· commented

· 1 Months ago

Dear student
Here question is asking about
the incorrect statement.
so given answer is correct.

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