2 Views

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.

Related Questions

Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates, and judiciaries
UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Jan 2024
Amity University Noida B.Tech...
Apply
Among Top 30 National Universities for Engineering (NIRF 2024)
ISBR Business School PGDM Adm...
Apply
250+ Companies | Highest CTC 16 LPA | Average CTC 8 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business School...
Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books