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Question : Which of the following is not a feature of a savings account?

 

Option 1: High interest rate
 

 

Option 2: Limited number of transactions
 

Option 3: Low balance requirement

 

Option 4: No cheque book facility


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: High interest rate


Solution : The correct answer is (a) High interest rate

A high-interest rate is not typically a feature of a savings account. Savings accounts are designed to provide a safe place to store money while earning a modest amount of interest. However, the interest rates on savings accounts are generally lower compared to other types of financial products, such as fixed deposits or investment accounts. Therefore, the correct answer is option a). High interest rate.

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