Finance Unbox-ED (INR) - Grade 6-8 - Session 011 - Quiz 1

Select all the ways in which banks make money

• Loans

• Credit Cards

• Investments

• Fees

EMI stands for?

• Equal Monthly Installment
• Equated Monthly Income
• Equated Monthly Installment
• Equal Monthly Investment

Select all the statements that are true about credit cards

• Banks often charge an annual fee on credit cards
• Banks charge us interest if we do not pay our credit card bills on time
• Banks earn MDR every time we use our credit card for a payment
• All of the above

Banks lend out all the money they get from savings accounts, current accounts and FDs / CDs to maximize profits

• True
• False

Banks earn commission by selling mutual funds and insurance policies

• True
• False