a) Explain the meaning of each of the following types of bank accounts:
i) Current account
ii) Savings account
iii) Fixed deposit account
(6 marks)
b) State and explain FOUR services rendered by commercial banks to their customers other than accepting deposits and granting loans. (8 marks)
c) Give ONE reason why commercial banks are important to the economic development of a country. (2 marks)

Question

a) Explain the meaning of each of the following types of bank accounts:
   i) Current account
   ii) Savings account
   iii) Fixed deposit account
(6 marks)
b) State and explain FOUR services rendered by commercial banks to their customers other than accepting deposits and granting loans. (8 marks)
c) Give ONE reason why commercial banks are important to the economic development of a country. (2 marks)

Accepted Answer

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Answer

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Answer

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Answer

C) null

Answer

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