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No Frill account are now known as ---.

ASavings Plus Account

BCurrent Plus Account

CBasic Saving Bank Deposit Account

DZero Balance Account

Answer:

C. Basic Saving Bank Deposit Account

Read Explanation:

Savings Bank Deposits:

  • This is also demand liability meant for lower and Middle class people. 

  • These deposits are meant for mobilizing the small savings of the people. 

  • Minimum Balance saving bank Account is Rs 500, 1000 and No Frill SB A/C

  • Call deposit is the modification of SB deposits in this case notice of withdrawal at a reasonable time is given by the customer to the Bank. 

  • 'Letter of introduction' is compulsory for current account and savings account. 

  • No restriction on the number and amount of deposit in - SB Account 

  • Minimum balance requirement is necessary 

  • No Loan Facility is provided against - Saving Account 

  • Saving Account called - Temporary Bank Account 

  • Minimum age required to open SB account in the Bank 10 years

  • Account which have no minimum balance No Frills Account. 

  • Interest Rate of saving Account is Very Low. 

  • Interest calculated on daily balance and credited on - quarterly basis 

  • No Frill account are now known as  Basic Saving Bank Deposit Account

  • Saving Account holder has not made any transaction the account for a period of one year then the saving account is considered - Inactive Account


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