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What else can I help you with?
Why should you deposit money in your bank?
You can earn interest.
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!
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.
When do you get interest from the bank?
The bank customers share of profit made on loans by the bank is called the "Interest". It is the money the bank pays the customer for having their money deposited with the bank. As you know, the bank earns an interest income from loan customers for the money they lend them, and since this money they lend is taken from the deposits placed by customers, banks share the profit by paying an interest to the customer who has placed the deposit with them.
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
Which is good to buy a house - shall i go for bank loan to buy a house or with my money?
You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.
What happens to the money that you deposit in a savings account at a bank?
When you deposit money in a savings account at a bank, the bank uses that money to make loans to other customers and earn interest. In return, the bank pays you interest on the money you have deposited in your savings account.
Why do banks pay their customers interest on the money in their accounts?
That money earns interest when the bank loans it out.
What will happen to the money deposited in a Muslim bank by a deceased NOn Muslim depositor?
It will be donated to charity.
What money will you get on interest with 2000000 in the bank?
100,000
