Give reasons or explain the following statements:
3. Saving account deposits are usually opened by salaried class.
Answer:
Saving account deposits are usually opened by salaried class.
Explanation:
Savings account is generally opened by salaried people. This account can be opened with a small amount and it helps the people to save their extra income. The amount from this account can be withdrawn anytime subject to some limitation. Banks also provide some interest on these deposits.
