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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


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

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.

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