Question

why are deposits in banks called deposits​

Answer 1

Answer:

People deposit their savings in banks. They can withdraw their money whenever required. Because the deposits in the bank account can be withdrawn on demand, these deposits are called demand deposits. ... Deposits also act as direct money in case of cheque payments.

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Answer 2

Answer:

Because the deposits in the bank account can be withdrawn on demand, so these deposits in banks called deposits.

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