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
Answer (1)
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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