Fill in the Blank QuestionFill in the blank question.A savings account is called a(n) deposit because the bank can require you to make prior notice before withdrawal.

A(n) deposit is an interest-bearing deposit held by a bank or financial institution for a fixed term. whereby the depositor can only withdraw the funds after giving notice. (Use one word for the blank.)

An interest-bearing deposit account offered by banks that has a higher interest than savings deposit and has the features of both savings and a checking account

A savings account in a bank A.gives access to the funds at an agreed date.B.applies a penalty if the funds are withdrawn before the maturity date.C.locks the money in until a certain date.D.cannot be used directly for payment.

Which of the following correctly matches the banking term with the appropriate definition?  A deposit is the total amount of money you have in the bank.   A withdrawal is an amount of money you take out of the bank.   Your balance is the money you put into the bank.   All of the above

What is the purpose of a recurring deposit account in a bank?To invest in stocks and bondsTo even out market fluctuationsTo provide a fixed income after retirementTo earn interest on regular deposits