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Deposit

Meaning:

A deposit is an amount of money that you put into a bank account for safekeeping. It is money you give to the bank so they can keep it safe for you.


Example:

When you save ₹1,000 in your bank account, that money is your deposit.


How to understand deposits:

Deposits help keep your money safe from theft or loss.
You can take the money out when you need it.


Importance of deposits:

They protect your money and help you save for future needs.  You can earn interest on your deposits, which helps your money grow.

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