What is the difference between savings deposits with post office and total deposits with post office saving banks?
Dear student,
Saving deposits refers to the deposits of the public held in various commercial banks. They can be categorised in two categories as term deposits and demand deposits.
Term deposits are those that are held for a specific period of time. On the other hand, demand deposits refer to those that are payable on demand or call.
We know that post offices also provide banking services to the public. So, total deposits with post office saving banks is the deposits of the public that are held by the post offices in the form of both saving deposits and term deposits.
On the other hand, saving deposits with post office takes into account only the deposits in savings account
Saving deposits refers to the deposits of the public held in various commercial banks. They can be categorised in two categories as term deposits and demand deposits.
Term deposits are those that are held for a specific period of time. On the other hand, demand deposits refer to those that are payable on demand or call.
We know that post offices also provide banking services to the public. So, total deposits with post office saving banks is the deposits of the public that are held by the post offices in the form of both saving deposits and term deposits.
On the other hand, saving deposits with post office takes into account only the deposits in savings account