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Question : Which of the following is a feature of a current account?

Option 1: High interest rate

Option 2: No limit on the number of transactions allowed per month

Option 3: Fixed maturity period

 

Option 4: Low minimum balance requirement


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: No limit on the number of transactions allowed per month


Solution : The correct answer is (b). No limit on the number of transactions allowed per month

A current account is a type of bank account that is primarily used for business transactions. It is designed to facilitate frequent and regular transactions, both deposits and withdrawals. One of the key features of a current account is that there is typically no limit on the number of transactions that can be conducted within a month. This allows businesses to make multiple transactions, including payments to suppliers, salary disbursements, and other business-related expenses, without any restrictions.

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