A savings certificate, or promissory note issued by a bank that entitles the holder to interest on their deposited monies. true

Question

Masteriza [31]

3 years ago

8

A savings certificate, or promissory note issued by a bank that entitles the holder to interest on their deposited monies. true

or false

Social Studies

2 answers:

Mariulka [41] · Answer 1 · 2022-02-25T15:33:15+03:00

Mariulka [41]3 years ago

4 0

I think that statement is True

This kind of savings certificate or promissory note is called a Certificate of Deposit
Certificate of Deposit usually issued by commercial banks for someone who deposited their money on that bank for a specific period of time

Fiesta28 [93] · Answer 2 · 2022-02-25T16:47:19+03:00

Answer:

True

Explanation:

In general, the advantage of having a saving account (as opposed to a chequings one) is that the bank entitles the holder to interest on the deposited money. This is expressed in a document called savings certificate, or promisory note. The existence of this document ensures that the holder can save more money quickly.