In which type of account we should deposit our money in order to earn higher rate of return ?
A
Current
B
Savings
C
Fixed deposit
D
Home savings account
Correct Answer: Fixed deposit
Fixed Deposit Account Some bank customers may like to put away money for a longer time. Such deposits offer a higher interest rate. If money is deposited in a savings bank account, banks allow a lower rate of interest. Therefore, money is deposited in a fixed deposit account to earn interest at a higher rate.