Banking Accounts Quiz

What is the main benefit of opening a savings bank account?

• Interest paid by the bank

• No minimum balance required

• No interest paid

• Unlimited withdrawals

Who is eligible to open a savings bank account?

• Students, pensioners, working professionals

• Businessmen

• Institutions only

• Children under 10 years old

What is the main purpose of a current bank account?

• Business-related works

• Fixed deposits

• Investment in stocks

• Savings

Which type of bank account is mostly opened by businessmen and institutions?

• Recurring deposit account

• Current account

• Savings account

• Fixed deposit account

What is the range of months for which a recurring deposit account can be opened?

• 6 months to 60 months

• 12 months to 120 months

• 24 months to 240 months

• 3 months to 36 months

What is the main feature of a fixed deposit account?

• Interest paid on the account

• No maturity date

• One time deposit and take away

• Withdrawal in instalments

What does DEMAT account stand for?

• Dematerialized Account

• Debit and Credit Account

• Deposit and Management Account

• Digital Electronic Account

Which organisations manage the DEMAT account in India?

• HDFC Bank and ICICI Bank

• Securities and Exchange Board of India and Bombay Stock Exchange

• Reserve Bank of India and State Bank of India

• National Securities Depository Limited and Central Depository Services Limited

What does DEMAT account facilitate?

• Easy trade of bonds and shares

• Personal loans

• Online shopping

• Tax filing

What is required for opening a DEMAT account?

• Driving license

• KYC

• Passport

• Aadhar card