Question

Deposit with the bank are beneficial to the deposit as well as of the nation

Answer 1

Explanation:

1)Boost the industry by providing cheap loans. 2)The interest rate provided on deposits add to the income of the family, thus increasing overall income of the nation. From the above points, it can be concluded that deposits with the banks are beneficial to the depositors as well as to the nation...

Answer 2

Answer:

Heya____!!!

Here is your answer___!!!!

Deposits with banks are beneficial to the depositor as well as the nation.

Benefits to the Depositors:

• Banks accept deposits and pay interest to the depositors.
• People's money is safe with the banks.
• People can withdraw their money whenever required.

Benefits to the Nation:

• Banks use money of the depositors to afford loans.
• Banks mediate between those who have surplus funds and those who are in need of those funds. Thus it helps in the economic development of the Nation.