General Knowledge · Banking and Finance
In banking terminology, a 'fixed deposit' is best described as a bank account arrangement that features a:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1demand deposit mechanism with unrestricted withdrawals
- 2recurring deposit scheme requiring monthly variable installments
- 3flexible payout schedule with shifting interest brackets
- 4fixed term till maturity with a predefined interest rate✓
Correct answer
fixed term till maturity with a predefined interest rate
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