The type of deposit that typically earns the highest interest rate is the Fixed Deposit.

Here's why:

1. Current Deposit: This is a type of deposit account that allows you to deposit and withdraw money at any time but does not earn any interest.

2. Savings Deposit: This is a deposit account where you can deposit money and earn interest on it. The interest rate is usually lower compared to other types of deposit accounts.

3. Fixed Deposit: This is a deposit where money is deposited for a fixed period of time and the interest rate is usually higher compared to other types of deposit accounts. The money cannot be withdrawn before the maturity date without incurring a penalty.

4. Recurring Deposit: This is a type of deposit account where you deposit a fixed amount of money every month for a fixed period of time. The interest rate is usually lower than that of a fixed deposit.

So, considering the interest rates, Fixed Deposits typically offer the highest interest rates among these options.

Question

The type of deposit that typically earns the highest interest rate is the Fixed Deposit.

Here's why:

1. Current Deposit: This is a type of deposit account that allows you to deposit and withdraw money at any time but does not earn any interest.

2. Savings Deposit: This is a deposit account where you can deposit money and earn interest on it. The interest rate is usually lower compared to other types of deposit accounts.

3. Fixed Deposit: This is a deposit where money is deposited for a fixed period of time and the interest rate is usually higher compared to other types of deposit accounts. The money cannot be withdrawn before the maturity date without incurring a penalty.

4. Recurring Deposit: This is a type of deposit account where you deposit a fixed amount of money every month for a fixed period of time. The interest rate is usually lower than that of a fixed deposit.

So, considering the interest rates, Fixed Deposits typically offer the highest interest rates among these options.

Knowee AI · Accepted Answer

The type of deposit that typically earns the highest interest rate is the Fixed Deposit.

Here's why:

1. Current Deposit: This is a type of deposit account that allows you to deposit and withdraw money at any time but does not earn any interest.

2. Savings Deposit: This is a deposit account where you can deposit money and earn interest on it. The interest rate is usually lower compared to other types of deposit accounts.

3. Fixed Deposit: This is a deposit where money is deposited for a fixed period of time and the interest rate is usually higher compared to other types of deposit accounts. The money cannot be withdrawn before the maturity date without incurring a penalty.

4. Recurring Deposit: This is a type of deposit account where you deposit a fixed amount of money every month for a fixed period of time. The interest rate is usually lower than that of a fixed deposit.

So, considering the interest rates, Fixed Deposits typically offer the highest interest rates among these options.

Which type of deposit typically earns the highest interest rate?Current DepositSavings DepositFixed DepositRecurring Deposit

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Which type of deposit typically earns the highest interest rate?

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