0
Can a bank stop you from withdrawing your own money invested in a bond for one year even when you know you will lose your interest?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is withdrawing money?
Withdrawing money is to take the money out. Say, you are at a bank. You may want to take out money from your bank savings to spend. That is called a withdraw.
Many depositors withdrawing money at once?
bank run
What are banking transactions?
Lodging money into a bank account is a transaction, as is withdrawing money. Adding interest to an account is a transaction. Direct debits are transactions. Deducting bank charges is a transaction. Basically any sort of activity involving a change of money in an account is a transaction. You will get a list of them on a bank account statement.
What is a bank interest?
An interest is where the bank gives you their money for joining them. The more money you put in the bigger interest is given to you!
Why does a bank charge interest on the money it lends?
Because that is the business or main purpose of the Bank. When you deposit any money in a bank, you expect an Interest. How can the bank afford to pay you interest? It lends the money you deposited and obtains an interest from the loan borrower. After taking a percentage of that interest as profit for them, the remaining is usually given to the deposit customers. The bank will be in huge losses of it is accepting deposits and paying interest while not charging interest on the money it lends.
What is withdrawing money?
Withdrawing money is to take the money out. Say, you are at a bank. You may want to take out money from your bank savings to spend. That is called a withdraw.
Many depositors withdrawing money at once?
bank run
What are banking transactions?
Lodging money into a bank account is a transaction, as is withdrawing money. Adding interest to an account is a transaction. Direct debits are transactions. Deducting bank charges is a transaction. Basically any sort of activity involving a change of money in an account is a transaction. You will get a list of them on a bank account statement.
The process of removing material from the bank is called?
This process is called money withdrawing.
Why do you receive interest on money that you keep in the bank?
The bank is paying you (compensating you) for the use of your money. When you borrow money from the bank, you pay them interest.
What is a bank interest?
An interest is where the bank gives you their money for joining them. The more money you put in the bigger interest is given to you!
What is the meaning of online money market account?
An online money market account is basically putting your bank account online that is invested specifically for market. It would typically have higher interest rates for your savings that a typical bank account would.
What is the meaning of withdrawal slip?
a document that must be filled before withdrawing money from the bank
What is institutional banking?
Institutional banking refers to the institution's depositing or withdrawing money in a bank.
Use the word accrue in a sentence?
No good will accrue from robbing the bank, no matter how desperately one needs the money.
Does the financial institution keeps your money in the vault?
Any financial institution keeps some money on hand, maybe 5-10 percent of what is invested with them. Most of it is just a book keeping entry. It is loaned out to other customers, invested in things in order to make the bank money so that it can operate and pay you interest.
Can a muslim use the money of bank interest if no then what should he do with interest money?
No. A Muslim cannot use the money of bank interest so they can give it away to others or use banks that do not give interest.
