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MA
Question Practice

What is the primary reason why people prefer to hold money as deposits in banks?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 10
Social Science
Understanding Economic Development
MONEY AND CREDIT
Question Bank

What is the primary reason why...

Single Answer MCQ
Q-00015857

What is the primary reason why people prefer to hold money as deposits in banks?

1

They are guaranteed to earn a fixed interest rate.

2

It keeps money safe and provides liquidity.

3

Banks offer free financial advice.

4

It reduces the risk of currency devaluation.

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Q4.

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