Why do people deposit money in banks?

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To earn interest

To avoid tax payments

To allow banks to give loans

All of the above

answer is A.

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Detailed Solution

People deposit money in banks to earn interest on the money.
It is a way to earn extra money on idle money. The deposits in banks are secure, and so there is no fear of theft or loss of money, relieving people from additional stress. Those who have bank accounts can get credit quickly, which is further used for productive purposes, and credit is readily available to people engaged in production. The banks also offer special services and schemes to people who have accounts with them, such as debit and credit cards.

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