Question

What does it mean for a savings account to have a minimum balance?

a. If you do not keep at least that much money in the account, you will be assessed fees.
b. If the amount of money you have in the account drops below the minimum, the interest rate will
increase to replenish your savings to the minimum
C. You must have the minimum amount of money in a separate account before you are allowed to open
a savings account.
d. You must deposit that much money into the account every month or your account will be closed.
Please select the best answer from the choices provided
Answere is :A

Answer 1

A

Step-by-step explanation:

Answer 2

D

Step-by-step explanation:

A savings account is an account owned by an individual at a bank. He keeps his money there, and earn interest at the end of the month for his savings.

A minimum balance is sometimes required by the banks for a savings account, customers are expected to keep such minimum balance always if not, the account will be closed down.