Question : Which of the following is not a feature of a current account?
Option 1: Low interest rate
Option 2: Unlimited number of transactions
Option 3: No balance requirement
Option 4: Cheque book facility
Answer (1)
18th Jan, 2024
Correct Answer: No balance requirement
Solution : The correct answer is (c) No balance requirement
A current account is a type of bank account that is typically used for business purposes. It is designed to facilitate frequent and regular transactions.
However, current accounts usually require a minimum balance to be maintained, and there may be charges if the balance falls below the specified threshold.
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