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To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers' deposits form the bank's liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.
Q. Which among the following is not a Combination deposit scheme of banks?
  • a)
    Multiple deposits
  • b)
    Unfixed deposits
  • c)
    Floating deposits
  • d)
    Quantum deposits
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
To be successful, the banks understand their different customers, diff...
Combination deposits, as the name suggests are offered in a combination of two types of deposits. Different banks offer these products under different names like Flexi Deposit, Multiple deposits, Quantum deposits, Unfixed deposits, etc.
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To be successful, the banks understand their different customers, diff...
Combination Deposit Scheme:
There are various types of combination deposit schemes offered by banks to cater to the diverse needs of customers. These schemes typically combine features of different types of deposit products to provide flexibility and convenience to customers.

Options Provided:
- Multiple deposits
- Unfixed deposits
- Floating deposits
- Quantum deposits

Explanation:
Among the options provided, "Floating deposits" is not a combination deposit scheme of banks.
- Multiple Deposits: This scheme allows customers to open multiple deposit accounts with different features to meet their financial goals.
- Unfixed Deposits: This scheme offers flexibility in the deposit amount, tenure, and withdrawal options, providing customers with the freedom to manage their funds.
- Quantum Deposits: This scheme allows customers to deposit a lump sum amount and earn interest based on the quantum of the deposit.
Therefore, "Floating deposits" do not fall under the category of combination deposit schemes offered by banks.
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To be successful, the banks understand their different customers, differentiate them on certain characteristics, and offer different types of banking and other financial products which best suit a particular segment. But certain core products are offered to all the segments. Here, the competition among banks lies in offering the products in the best possible manner. But there are some new products offered by banks called augmented products. So, the overall products of the banks are classified into three types, one of which is Deposit products. These products are offered to deposit the funds in different ways and since the customers deposits form the banks liability, these are also called Liability products. Some such products are Savings Deposits, Current Deposits, Term Deposits, etc. Savings and Current Deposits are demand Deposits whereas Term Deposits involve RDs, FDs, and Combination Term Deposits.Q. Which among the following is not a Combination deposit scheme of banks?a)Multiple depositsb)Unfixed depositsc)Floating depositsd)Quantum depositsCorrect answer is option 'C'. Can you explain this answer?
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