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1 . A banks fixed deposit is also referred to as a

A. Term Deposit
B. Saving bank deposit
C. Current deposit
D. Demand deposit

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Answer: Option A

Explanation:

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.

It may or may not require the creation of a separate account. It is known as a term deposit or time deposit in Canada, Australia, New Zealand, India and The United States, and as a bond in the United Kingdom and for a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring deposit or a demand deposit before maturity.

Some banks may offer additional services to FD holders such as loans against FD certificates at competitive interest rates.

Officer (General) -Ansar VDP Unnayan | BD House Building Finance Corporation 28.09.2018

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