Description : What are the benefits that you can get by depositing your extra money in the banks? -SST 10th
Last Answer : (i) Safety (ii) Earn interest (iii) Can make payments easily through cheques.
Description : Why are the deposits in the banks called ‘demand deposits’? What are the benefits of deposits with the banks? -SST 10th
Last Answer : A cheque is a paper instructing the bank to pay a specific amount from a person's account to the person in whose name the cheque has been issued. The payer,who has an account with ... facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.