Question

Deposits meant for meeting children's education and marriage expenses are known as

• A. Recurring deposits
• B. Savings deposits
• C. Fixed deposits
• D. Endowment deposits

Answer 1

Answer:

D. Endowment deposits

Flexi Deposit:

• The deposit is the combination of fixed deposit and saving deposits 

• The depositors is enjoy the benefits of savings account and also get high interest as fixed deposit 

Endowment Deposit:

• Endowment deposit are meant for meeting children's education and marriage expenses.