Current accounts - SS2 Commerce Past Questions and Answers - page 1
What type of account is designed for day-to-day financial transactions?
Savings account
Fixed deposit account
Current account
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Which of the following is required to open a current account?
Valid identification documents
Proof of address
All of the above
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What does the bank consider when granting a loan?
Credit history
Income and employment stability
All of the above
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What can be used as collateral for a loan?
Vehicles
Property
All of the above
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What does the bank evaluate when determining loan repayment capacity?
Credit history
Financial statements
All of the above
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What is the primary purpose of a current account?
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Why does a bank manager consider credit history when granting a loan?
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