ICSE Class X Commercial Applications 2022 Solved Papers

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Question : 16
Total: 36
What is Saving Deposit account?
Solution:  
Saving Deposit account : This account is opened for non-trading customers and small savings. In this account deposits can be made any number of times in a weak. But there is a restriction on the number of withdrawals in a week. Interest is allowed on the minimum balance standing to the credit during a month. The main purpose of a savings deposit account is to develop the habit of savings among public.
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