Question

Why are deposits in the banks called? What are the benefits of the deposits with the banks?​

Answer 1

Answer:

soil erosion

Explanation:

Answer 2

$\huge\bigstar\underline\mathtt{Answer:-}$

• Since the deposits in the bank account can be withdrawn on demand. These deposits are called demand deposits.
• People deposit extra cash with the bank by opening a bank account in their name.
• Banks accept the deposits and also pay an interest on these deposits.

$\Large\star\sf\underline{Benefits:-}$

• People's money is safe with the bank and it earn an amount of interest.
• People have all provision to withdraw money as and then they require.