What are the advantages of depositing cash money in banks?

Asked by Last Modified  

4 Answers

Learn Economics +1

Follow 7
Answer

Please enter your answer

Experienced teacher online and offline with 8 years of teaching experience.

Advantages are :- 1. You get interest on the money deposited. 2. Your money is safe ina banks. 3. You can withdraw it anytime through debit card . 4. By depositing good amount of money you become an honest holder for bank account and therefore can apply for loan. 5. By depositing money in the bank...
read more
Advantages are :- 1. You get interest on the money deposited. 2. Your money is safe ina banks. 3. You can withdraw it anytime through debit card . 4. By depositing good amount of money you become an honest holder for bank account and therefore can apply for loan. 5. By depositing money in the bank ypu need not to hold cash, just a card is all you need. read less
Comments

Management Professional

1. Your money will be in safe hands. 2. Your will be getting good rate of interest. 3. You can make online payments. 4. You can withdraw that amount at any point of time.
Comments

Safety and receipt of interest. Banks,in turn,help industries to raise funds for working capital or capital expenditure
Comments

A qualified Chartered Accountant and a good tutor

Depositing money in Banks is useful: 1)Safety of Money 2)Habit of Thrift & Saving 3)Easily handling of Cash 4)Easily Fund transfer Facility 5)Interest Earning
Comments

View 2 more Answers

Related Questions

Should I join coaching in class 12 for the JEE? I haven't joined any coaching in class 11.
If you're serious about JEE, you should join a coaching institute. There are thousands of students out there studying from morning to late night and it's a hard nut to crack without proper coaching
Neeraj
0 0
8
How should I study by my own in class 11 and 12 without coaching?
Only you just to wore hard and do study daily to achieve your goal.
Bivash
0 0
5
How can I study for IIT preparation from class 11 without coaching?
Follow Arihanth book series. Solve each and every problems. Check the syllabus on net. Follow YouTube. And take best faculties in your home.
Sweetu
Is going to coaching necessary for chemistry class 11 CBSE?
Better is that u can use different reference text book and creat own notes which are use full for your study.
Pradeep
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

INFLATION
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central Banks attempt to limit inflation —...

Characteristics/Qualities of Good Money - Class XII Economics (Macro-Economics)
Qualities/Characteristics of Good Money - HSC/SYJC/Class 12/Standard XII Macro-Economics - Commerce - Maharashtra State Board Also helpful for IGCSE/GCSE Economics and ICSE Class 10

What is Monetary Policy Committee (MPC) ?
The new MPC is to be a six member panel that is expected to bring "VALUE and TRANSPARENCY" to rate setting decisions. It will feature three members from the RBI- the Governor, a Deputy Governor , and another...


How to get good marks in Economics?
Here are the tips: Make a flow chart for every topic/chapter Give to the point answer Be clear with all terms/important definitions Don't skip diaram wherever necessary Try to solve maximum types...

Recommended Articles

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you