Economics · Banking and Monetary Policy
In banking terms, what is meant by 'Deposit Rate'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The interest rate paid by banks on term or fixed deposits of customers✓
- 2The penalty rate charged on overdrawn current accounts
- 3The custom duty applicable on gold imports
- 4The statutory reserve fee for foreign currency exchange houses
Correct answer
The interest rate paid by banks on term or fixed deposits of customers
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