IBPS Clerk Practice Questions — All Questions

A savings account is primarily used to:

• a.Print currency
• b.Deposit money and earn interest for individuals✓
• c.Trade shares
• d.Run a large business's daily transactions

Savings accounts let individuals deposit money and earn interest.

The full form of 'ATM' is:

• a.Account Transfer Machine
• b.Automated Teller Machine✓
• c.Any Time Money
• d.Automatic Transfer Method

ATM stands for Automated Teller Machine.

An account a business uses for frequent transactions with no interest is a:

• a.Savings account
• b.Current account✓
• c.Fixed deposit
• d.Recurring deposit

A current account suits frequent business transactions and typically pays no interest.

'Interest' paid by a bank on deposits is:

• a.A tax
• b.A penalty
• c.A return the bank pays for using your money✓
• d.A fee charged to you

Interest on deposits is what the bank pays you for holding your money.