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The use of interest in a bank is to attract you to invest in them over other competition. If you are looking for a bank, try the one with the most interest as you will get more money out of that particular branch.
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∙ 11y ago
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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.
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.
How can you use compound interest in a sentence?
This new type of bank account has compound interest.
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.
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.
What is the price a bank charges to use its money called?
Debit Interest
What is the fee payed for the use of money?
Generically, Bank charges and Interest.
What was one thing the farmer's alliance worked for?
Lower interest on bank What_was_one_thing_the_farmers_alliance_worked_for- Novanet sucks!
What is bank account interest?
interest charged to bank accounts
A percentage of the amount in the savings account which is a reward for the bank's use of the money?
interest
The money a bank pays depositors for the right to use their money is called?
Interest.
