What is passbook why we deposit the money in bank
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passbook is the a type of records book maintained by bank for day to day transaction
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we deposit money in bank because we get interest on it and can also get loans
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A passbook or bankbook is a paper book used to record bank or building society transactions on a deposit account.
A Bank is a financial institution which is involved in borrowing and lending money. Banks take customer deposits in return for paying customers an annual interest payment. The bank then use the majority of these deposits to lend to other customers for a variety of loans. ... Keep money safe for customers.
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