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When you borrow money from a bank the money charged to you for the loan is called?
Wiki User
∙ 11y ago
It is called "Interest"
(I'm not sure if this is right)
Wiki User
∙ 11y ago
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What does a bank charge you when you borrow money from it?
When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.
What do you call a bank employee who helps customers borrow money?
A bank employee that helps customers borrow money would be called a loan officer.
When banks borrow money from each other?
Banks usually borrow money from one another when they are running short of cash. They charge a smaller interest (when compared to what interest gets charged to a normal loan customer) when they lend money to other banks. This lending interest rate is called Inter-Bank Lending Rate. Banks even go to the central bank of their country to borrow money if they need it.
When you borrow money from a bank where does that money come from?
When you borrow money from a bank they pull cash from the bank's reserves. This collection of cash is the net cash reserves within the bank or its network from depositors in the system.
Whom should you at the bank if you need to borrow money answer key?
whom should you see at the bank if you need to borrow money? worksheet answer key
The amount of money borrow is called the?
Principal is the amount of money you borrow. Interest is the fee charged by the lender (or bank) to use their money. The total amount of money you pay back is the principle + interest.
What does a bank charge you when you borrow money from it?
When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.
What do you call a bank employee who helps customers borrow money?
A bank employee that helps customers borrow money would be called a loan officer.
When banks borrow money from each other?
Banks usually borrow money from one another when they are running short of cash. They charge a smaller interest (when compared to what interest gets charged to a normal loan customer) when they lend money to other banks. This lending interest rate is called Inter-Bank Lending Rate. Banks even go to the central bank of their country to borrow money if they need it.
From where do people borrow money?
the bank
Who pays money at bank?
The person who borrow money.
When you borrow money from a bank where does that money come from?
When you borrow money from a bank they pull cash from the bank's reserves. This collection of cash is the net cash reserves within the bank or its network from depositors in the system.
Whom should you at the bank if you need to borrow money answer key?
whom should you see at the bank if you need to borrow money? worksheet answer key
How old do you have to be to borrow money from the bank?
2
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
How do you you change this sentence into passive voice we shall borrow money from the bank?
Money will be borrowed from the bank.
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.
