ICSE Class X Economics 2022 Solved Papers

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Question : 17
Total: 33
Explain the meaning of savings deposits.
Solution:  
In this account small savings are deposited. Deposits can be made any number of times in a week but their is a restriction on the number of withdrawls in a week. Interest is allowed, on the minimum balance standing to the credit during a month. The main purpose of a savings deposit account is to develop the habit of savings among public.
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