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Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?
- a)Fixed Deposit Account
- b)Basic Savings Bank Deposit (BSBD) Account
- c)Sukanya Samriddhi Account
- d)Senior Citizen’s Savings Account
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which account is not required to maintain minimum balance for availing...
Nation’s apex bank Reserve Bank of India (RBI) has relaxed the regulations for Basic Savings Bank Deposit (BSBD) Accounts aka “no-frills” accounts as a part of the financial inclusion drive. Now, the BSBD account holders will get a cheque book and certain minimum facilities, free of charge by the bank. Also, there will be no requirement of maintaining a minimum balance in lieu of such additional facilities. Previously additional facilities for these accounts attract the requirement of maintaining a minimum balance and other charges.
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Which account is not required to maintain minimum balance for availing...
Basic Savings Bank Deposit (BSBD) Account:
Basic Savings Bank Deposit (BSBD) Account is a type of savings account offered by banks with the objective of financial inclusion. It is designed to provide banking services to all sections of society, especially to those who cannot afford to maintain a minimum balance in their accounts.
Features of BSBD Account:
- No requirement to maintain a minimum balance in the account.
- Facilities like checkbooks, debit cards, and online banking are provided free of cost.
- There are no charges for non-operation or low balance in the account.
- Interest is earned on the balance maintained in the account, just like a regular savings account.
- There is a limit on the number of withdrawals allowed in a month without any charges.
Comparison with other accounts:
- Fixed Deposit Account: Requires a minimum balance to be maintained for availing additional facilities.
- Sukanya Samriddhi Account: Specific to the welfare of the girl child and has different terms and conditions.
- Senior Citizen's Savings Account: Designed for senior citizens and may have specific requirements for availing additional facilities.
In conclusion, the Basic Savings Bank Deposit (BSBD) Account is the account that does not require a minimum balance for availing additional facilities like checkbooks, making it a suitable option for individuals looking for a simple and accessible banking solution.
Basic Savings Bank Deposit (BSBD) Account is a type of savings account offered by banks with the objective of financial inclusion. It is designed to provide banking services to all sections of society, especially to those who cannot afford to maintain a minimum balance in their accounts.
Features of BSBD Account:
- No requirement to maintain a minimum balance in the account.
- Facilities like checkbooks, debit cards, and online banking are provided free of cost.
- There are no charges for non-operation or low balance in the account.
- Interest is earned on the balance maintained in the account, just like a regular savings account.
- There is a limit on the number of withdrawals allowed in a month without any charges.
Comparison with other accounts:
- Fixed Deposit Account: Requires a minimum balance to be maintained for availing additional facilities.
- Sukanya Samriddhi Account: Specific to the welfare of the girl child and has different terms and conditions.
- Senior Citizen's Savings Account: Designed for senior citizens and may have specific requirements for availing additional facilities.
In conclusion, the Basic Savings Bank Deposit (BSBD) Account is the account that does not require a minimum balance for availing additional facilities like checkbooks, making it a suitable option for individuals looking for a simple and accessible banking solution.
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Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer?
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Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Which account is not required to maintain minimum balance for availing additional facilities like checkbooks etc..?a)Fixed Deposit Accountb)Basic Savings Bank Deposit (BSBD) Accountc)Sukanya Samriddhi Accountd)Senior Citizen’s Savings Accounte)None of theseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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