Banking and Finance MCQ: When banks accept a fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known as:

When banks accept a fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known as:

Correct Answer: Term Deposit

Make the most of this question

This page focuses on one Banking and Finance question from Faculty. After checking the answer, return to the topic list to practice more or run a timed set.

← More Banking and Finance MCQs All Faculty topics Mock test hub