0
How much is the interest if you loan money in an cooperative bank?
Wiki User
∙ 12y ago
It depend on the amount you saving
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is plus mod balance in bank loan?
plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.
Is the amount charged for use of bank's money is called interest?
Yes. The amount a bank charges you for using their money is called an interest. This facility wherein you get to use the banks money and repay them is called a Loan. The bank grants you a fixed amount as loan and you repay them every month along with an interest.
Is a bank loan an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
Is loan interest higher than savings interest?
Yes loan interest are higher than savings interest. This is one of the primary ways a bank makes money.
When you borrow money from a bank the money charged to you for the loan is called?
It is called "Interest" (I'm not sure if this is right)
What is plus mod balance in bank loan?
plus mod balance in bank loan is the money who pay on the bank that you loan with interest rate and original cost.
Why Do You Need a Bank?
To loan money, To hold large amounts of money, To gain interest on your money
Is the amount charged for use of bank's money is called interest?
Yes. The amount a bank charges you for using their money is called an interest. This facility wherein you get to use the banks money and repay them is called a Loan. The bank grants you a fixed amount as loan and you repay them every month along with an interest.
Is a bank loan an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
Is a bank an asset or liability?
It Depends:If you are the bank, then the loan is an asset because, the loan customer is going to repay you the loan amount with interest and you are going to earn an income from it.If you are the loan customer, then the loan is a liability because you are going to return the money along with interest to the bank that gave you the loan.
Is loan interest higher than savings interest?
Yes loan interest are higher than savings interest. This is one of the primary ways a bank makes money.
What is the definition of interest rates?
An interest rate is the amount of money a bank can charge on the loan that they provide you. That is how they make their profit. If they didn't charge an interest rate and just loaned out money, then there's no way they can make money off of the loan.
When the Fed lends money to a commercial bank what does the bank do?
pays the Federal funds interest rate on the loan.
How can you be an asset to the bank?
If you take a loan from the bank, then you become an asset to the bank. That is because, you owe money to the bank and the bank has all rights to take the money and the interest that you are supposed to pay for the loan from you. So any kind of money that is to be received by anyone is an asset and so similarly, a loan that people will pay back to the bank will be an asset to the bank.
Who pays loans back?
Well usually it is the person that the money was loaned to, however if you are refinancing it is the bank that buys the loan from the other bank in hopes of making money off of the interest, while the first bank just wants the money back from the loan. And the person refinancing can get a better interest rate from the next bank.
When you borrow money from a bank the money charged to you for the loan is called?
It is called "Interest" (I'm not sure if this is right)
Why is a bank willing to protect your money for free or for a low cost?
The main business of banks is to take the money they receive in deposits, pay minimal if any interest to the deposit account holders, and loan that money out to others, who in turn pay the bank interest on the loan.
