Question

Which of the following are the benefits of depositing money in a bank?

• A. The deposited money remains safe.
• B. The deposited money earns interest.
• C. The deposited money is easy to track.
• D. The deposited money can be withdrawn when required.

Answer 1

Answer: (A), (B), (D)

The deposited money can be withdrawn when required.

All the money in terms of paper notes and coins can be stored in a bank as bank deposits. It can be done by opening a bank account with some identity proof. Further, the bank gives interest on the money kept as deposit. Also, the money can be withdrawn in times of need.