Deposit

Meaning:

A deposit is an amount of money placed into a bank account or with a financial  institution for safety, savings, or future use. It is money you hand over to be stored securely

and accessed when needed.

Example:

For instance, if you deposit ₹5,000 into your savings account, that amount is kept  safe by the bank.

How to understand deposits:

Deposits are important because they protect your money from theft or loss.  They help you build savings habits and encourage financial discipline.

Importance of deposits:

Deposits allow you to earn interest, helping your money grow over time.  They support financial planning for emergencies, goals, and future expenses.