A recurring deposit, in which a fixed sum is paid in every month for a set period, is a

demand depositCorrect answerYour answerloanCorrect answerYour answertime depositCorrect answerYour answerreserve with the RBICorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer C

Correct answer: C

It can be withdrawn freely only at the end of the period, so it is a time deposit.

Concept: Time deposits
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsWhat commercial banks do

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Ten questions from Money Creation by Banks, at your own pace.

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A recurring deposit, in which a fixed sum is paid in every month for a set period, is a

Explanation