Deposits

Deposits are funds that you place into a bank account, such as savings or checking accounts. They can come from various sources like wages, selling items, or transfers from other accounts. Deposits increase your account balance, allowing you to use the money for transactions, withdrawals, or savings. Banks may also pay interest on certain deposits, such as savings accounts, as a reward for keeping your money with them. Essentially, a deposit is your money stored securely with a bank, which you can access or use as needed.