State whether the following statements are True or False.
2. The saving bank deposit can be opened with a small amount.
Answer:
The savings bank deposit can be opened with a small amount. – True
Explanation:
The above statement is true. A savings bank deposit can be opened with a small amount as specified by the banks. These accounts are generally opened by salaried people who wish to save a proportion of their income. A nominal amount of interest is paid on these deposits.
