Question

When a fixed deposit is made by a customer, the banker provides a receipt as proof for receiving the amount which specifies the rate of interest, amount deposited period, nominee etc. This is known as ---.

• A. Fixed deposit receipt
• B. Savings deposit receipt
• C. Recurring deposit receipt
• D. Current account statement

Answer 1

Answer:

A. Fixed deposit receipt

FIXED DEPOSIT RECEIPT:

• When a fixed deposit is made by customer, the banker provides a receipt as proof for receiving the amount which specifies the rate of interest, amount deposited period, nominee etc. .

• It is a not negotiable instrument and not transferrable 

• If it is lost, the banker pays amount to the customer, only after indemnity bond