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प्रश्न
Give two advantages of depositing money with commercial banks.
Why do we deposit money with commercial banks?
Why do people deposit money in banks? Give two advantages of depositing money with commercial banks.
उत्तर
People keep their surplus money in banks because:
- They earn interest income.
- Their money remains safe.
- They keep money in banks for convenience of making payments through cheques.
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संबंधित प्रश्न
What are term/time deposits?
Commercial banks accept deposits, lend money and provide other services.
Explain the term bank overdraft.
Overdraft facility is usually availed by ______.
Read the following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Commercial Banks keep only a fraction of deposits as Cash Reserves and use the remaining deposits for given loans, etc.
Reason (R): All the depositors of Commercial Banks do not approach the banks for withdrawal of money at the [iame time and also they do not withdraw the entire amount in one go.
What are saving bank accounts?
Compare the rate of interest given to such an account to that of a Current Account and a Fixed Deposit.
What are time (or fixed) deposits?
Give two differences between recurring deposits and fixed deposits.
Why are commercial banks called producers (creators) of money? Explain.
