What is the typical interest rate range for savings accounts? Option: "2.7-6%", "1-3%", "10-15%", "8-12%"

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What is the typical interest rate range for savings accounts?

"2.7-6%"

"1-3%"

"10-15%"

"8-12%"

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Which financial product offers a higher interest rate compared to a typical Savings Account?

"Recurring Deposit"

"Fixed Deposit"

"Savings Account"

"Mutual Fund"

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What is the main risk associated with savings accounts?

"The value of deposited funds declining"

"The bank facing financial difficulties"

"Changes in government regulations"

"Fluctuations in market interest rates"

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What is the primary purpose of a Savings Account?

"To keep money safe and facilitate transfers"

"To benefit from tax advantages under Section 80C"

"To use as collateral for loans"

"To earn high interest on long-term investments"

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Which investment option is generally preferred for long-term wealth building?

"Fixed Deposit"

"Current Account"

"Savings Account"

"Money Market Account"

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Which of the following types of bank accounts are typically covered under deposit insurance?

Only savings accounts

Only fixed deposits

Only current accounts

Fixed deposits, savings accounts, current accounts, and recurring deposits