Question : Which of the following is not a feature of a demand deposit account?
Option 1: High interest rate
Option 2: Unlimited number of transactions
Option 3: No maturity period
Option 4: Cheque book facility
Correct Answer: High interest rate
Solution : a). High interest rate
A high interest rate is not a typical feature of a demand deposit account. Demand deposit accounts, such as savings accounts and current accounts, are designed for easy access to funds and daily transactions. They typically offer lower interest rates compared to other types of accounts like fixed deposit accounts or savings certificates. The other options mentioned, including unlimited number of transactions, no maturity period, and cheque book facility, are common features of demand deposit accounts.
