Test your knowledge with these Types of Bank Accounts in India GK Questions. Covering savings, current, fixed deposit, and specialized accounts, these MCQs are perfect for students, banking exam aspirants, and general knowledge enthusiasts.
Master Banking Basics: Types of Bank Accounts in India GK Questions-
Q1. Which type of bank account is primarily used for daily transactions?
a) Savings Account
b) Current Account
c) Fixed Deposit Account
d) Recurring Deposit Account
Q2. Which account type is designed for individuals to save money and earn interest?
a) Current Account
b) Savings Account
c) Fixed Deposit Account
d) NRI Account
Q3. What is a Fixed Deposit (FD) account?
a) Account for daily transactions
b) Account with fixed tenure and interest
c) Government account
d) Corporate account
Q4. What is a Recurring Deposit (RD) account?
a) Deposit account with fixed monthly contributions
b) Current account
c) Savings account
d) NRI account
Q5. Which account is specially designed for Non-Resident Indians (NRIs)?
a) NRE Account
b) NRO Account
c) FCNR Account
d) All of the above
Q6. What does NRE stand for in banking?
a) Non-Resident External
b) Non-Resident Employee
c) National Reserve Exchange
d) Non-Rupee Equivalent
Q7. What is the main feature of a Current Account?
a) High-interest earnings
b) Unlimited withdrawals and deposits
c) Fixed tenure
d) Monthly deposit
Q8. Which account type provides tax benefits under Section 80C?
a) Savings Account
b) Fixed Deposit Account
c) Recurring Deposit Account
d) All of the above
Q9. Which account allows interest to be compounded quarterly or annually?
a) Savings Account
b) Fixed Deposit Account
c) Current Account
d) NRE Account
Q10. What is an NRO account used for?
a) Savings for NRIs in Indian rupees
b) Fixed deposit in foreign currency
c) Current account for businesses
d) Recurring deposits
