Q1. [1] § What is meant by Interest? § What factors determine interest rates? § What are various short-term financial options available for investment?
"It is often the first banking product people use, which offers low interest."
- (a) Fixed Deposit Account
- (b) Recurring Deposit Account
- (c) Current Deposit Account
- (d) Saving Bank Account
Previously asked in CBSE board exam
2023 92 Q5 (i)
Generated by claude-sonnet-4-6 · 2026-06-15 07:07 · grounding rag
Model Answer
(d) Saving Bank Account
Explanation
The passage directly states: "Savings Bank Account is often the first banking product people use, which offers low interest (4%-5% p.a.)." This matches option (d) exactly.
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