Question : Which of the following is not a feature of a current account?
Option 1: Interest-bearing account
Option 2: Low balance requirement
Option 3: Unlimited transactions
Option 4: Overdraft facility
Correct Answer: Interest-bearing account
Solution : The correct answer is (a) Interest-bearing account
A current account is a type of bank account typically used for day-to-day transactions and business purposes. It is known for its convenience and flexibility. However, one key feature that is not typically associated with a current account is that it is not an interest-bearing account. Current accounts generally do not earn interest on the deposited funds. They are primarily used for transactional purposes, and customers do not typically expect to earn interest on the balance.
