A banks fixed deposit is also referred to as a

A banks fixed deposit is also referred to as a Correct Answer Term Deposit

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India and The United States, and as a bond in the United Kingdom and for a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring deposit or a demand deposit before maturity.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.
Bissoy MCQ

Related Questions

Defining green banking is relatively easy. It means promoting environment -friendly practices and reducing your carbon footprint from your banking activities. This comes in many forms : using online banking instead of branch banking; paying bills online, opening up CDs (certificates of deposit) and money market accounts at online banks instead of large multi-branch banks. A green bank takes the biggest steps to support local green initiatives. Any combination of the above personal banking practices can help the environment. In this respect, online banks and smaller community banks have better track records than larger banks .However, these larger banks may be induced to go green . According to the passage, larger, multi -branch banks .
Albert invested an amount of Tk 8,000 in a fixed deposit scheme for 2 years at compound interest rate 5% per annum. How much amount will albert get on maturity of the fixed deposit?
If a person deposit money into two banks at 6 Tk interest respectively, the difference in profit after three and half years and five years 144. How much money did the person deposit?
A bank's ' fixed deposit' is also referred to as a
A bank's fixed deposit is also referred to as a
Two banks offer interest rate of 6% and 7% respectively on savings account. Mr. Faruq deposited a total amount of Tk. 4000 in the banks and in one year his interest income was Tk. 250. Find the deposit in the bank with 7% interest rate?
The interest on a certain deposit at 9% per annum is TK. 405 in one year . How much will the additional interest in one year be on the same deposit at 10 percent per annum ?
If a deposit of Tk.750 earns simple interest @ 8% per annum and that of Tk. 1250 earns the same @6% per annum, what is the average rate of interest (in %) earned on the total deposit?
The interest on a certain deposit at 4.5%p is taka 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a?
The interest on a certain deposit at 4.5% p.a. is TK. 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a. ?