Business Studies, asked by gwuaijww, 7 months ago

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

Answers

Answered by Anonymous
63

\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  • Since the deposits in the bank account can be withdrawn on demand.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.

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Answered by mmanjeetkaurin
2

Answer:

Because the deposits in the bank account can be withdrawn on demand, these deposits are called demand deposits.

Benefits of deposits with banks are as listed below:

Apart from money being safely kept in the banks, people are also paid interest on the amount of money deposited in their bank account.

Short and helpful answer....

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