Question

Which financial transaction represents money paid to a customer for keeping her money in a savings account and not withdrawing that money for a certain time period? loan interest ATM fee overdraft fee

Answer 1

Interest

Explanation:

Savings account is a type of a facility given by the banks where a customer that is an account holder can deposit money in the form of savings.

The account holder can deposit money in the savings account as many number of times in a month but can withdraw only six times a month.

Banks provide interest either compounded annually , monthly or quarterly on the amount left in the savings account of the holder by insisting the account holders not to withdraw their money from their savings account for a certain period of time.