Question : Which of the following is a feature of a current account?
Option 1: High interest rate
Option 2: Fixed maturity period
Option 3: Withdrawals allowed at any time
Option 4: No limit on withdrawals
Answer (1)
11th Jan, 2024
Correct Answer: No limit on withdrawals
Solution : The correct answer is (d). No limit on withdrawals
A current account is a type of bank account that is typically used for business transactions and provides a high level of liquidity and flexibility.
One of the key features of a current account is that there is generally no limit on the number of withdrawals or transactions. Account holders have the flexibility to make multiple withdrawals and transactions as required for their business or personal needs.
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