Commercial Banks — Important Questions
ICSE · Class 10 · Economic Application
52 important questions from Commercial Banks for ICSE Class 10 Economic Application, with answers. Written for the board exams 2027.
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Important Questions from Commercial Banks
Which statement about fixed deposits is correct?
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They carry the highest rate of interest
Fixed deposits earn the highest rate of interest. Longer periods generally mean higher interest rates.
How long does the period of a fixed deposit generally range?
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7 days to 10 years
Fixed deposits are maintained for a fixed time, generally ranging from 7 days to 10 years.
What is the overdraft facility?
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A facility that allows a current account holder to withdraw more than the balance up to an agreed limit
Overdraft is allowed only to current account holders. They can withdraw more than the balance, but only up to an agreed limit.
Which of these is a type of loan and advance given by commercial banks?
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Cash credit
Cash credit is a type of loan and advance. It is a short-term working capital loan against collateral.
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