Question

5. Why people deposit money in banks? Give two reasons

Answer 1

Explanation

People Deposit Money In Banks Because:-

• The money remains secured in the bank. While saving money at home, there is a risk of theft, misplacement or any other mishap.
• People receive rate of interest per annum.

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Answer 2

Answer:

people deposit money in banks due to the following reasons:-

1.They can store their money safely and securely in a bank.

2. They get interests by storing money in bank. Thus they get extra money.

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