Question

Choose the best answer. Which of the following is not a type of savings account? A.passbook account

Answer 1

Answer with explanation:

Saving Account →A savings account is a type of bank account in which you can keep extra money possessed by you in an institution, which is most safest place,The money you get  as an interest  is proportional to amount of money deposited in that institution.

A. Passbook Account :  A Passbook Savings account is also a saving account,in which you get interest for your deposit and also get a passbook for easy record keeping.

B.Statement account : It is also a saving account,in which you get statement for your credit and debit in your account.

C. Club Account: In this type of Saving account, you deposit money for your future investment or for any future purpose by a group.You have to deposit and withdraw money within a certain time frame.

D. Automatic account: In this type of account , money is transferred to it's customers automatically in their accounts by a certain process. It is not a saving Account.

Option 4→: Automatic Account : is the type of account which is not a saving Account.

Answer 2

Hello!

I believe the best answer to this question would be D. Club account, because there was something called "Christmas club account" during the Great Depression. Now, it's a savings program, so you could save that it's technically not a savings account.

I really hope this helped you! :)