Question

A savings certificate, or promissory note issued by a bank that entitles the holder to interest on their deposited monies. true or false

Answer 1

I think that statement is True

This kind of savings certificate or promissory note is called a Certificate of Deposit
Certificate of Deposit usually issued by commercial banks for someone who deposited their money on that bank for a specific period of time

Answer 2

True

Step-by-step explanation:

In general, the advantage of having a saving account (as opposed to a chequings one) is that the bank entitles the holder to interest on the deposited money. This is expressed in a document called savings certificate, or promisory note. The existence of this document ensures that the holder can save more money quickly.