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Time deposits carrying a higher rate of interest than savings accounts are:
AOverdraft accounts
BFixed accounts
CCurrent accounts
DCheque accounts
Answer & Solution
Correct answer: B. Fixed accounts
1. Premature withdrawal loses some interest.
2. They are kept for a fixed term.
3. These are fixed accounts.
_Source: NCERT Class 11 Business Studies, Chapter 4, Business Services._
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