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Why do banks charge more interests on loans verses savings accounts?
Wiki User
∙ 12y ago
Banks let customers borrow the money that you keep in your savings account. Since they offer you an interest on the money you keep in your account and they need to make a profit from the loans they grant, they usually charge more interest. This interest is usually atleast 2-3% greater than the interest they offer on deposit accounts.
Wiki User
∙ 12y ago
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