1.

State one difference between Fixed Deposit Account and Recurring Deposit Account.

Answer»

Difference between Fixed Deposit Account & Recurring Deposit Account :

BasisFixed Deposit AccountRecurring Deposit Account
PurposeTo enable investors to mobilize idle savings and earn with a higher rate of interest than regular savings bank accounts To inculcate a regular habit of savings among the public. 
TenureFixed amount is to be deposited for long tenureTo inculcate a regular habit of savings among the public.



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