high interest rate
Trust and convenience !
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Banks do not create money, they only use the money from saving accounts and lend it to people. When they lend the interest from the loan is profit for the bank.
your bum!
Trust and convenience !
The Stock market crash caused a panic. People rushed to pull money out of banks. Banks did not have enough money for everyone.
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Banks do not create money, they only use the money from saving accounts and lend it to people. When they lend the interest from the loan is profit for the bank.
your bum!
People choose banking for different reasons. Some people like to invest their money in saving accounts as banks. People who like handling money may choose banking as a career.
Banks lend the money from savings accounts to people who need loans. (Go do your study island instead of looking them up) I'm just kidding. 😂
They invest the money in high interest money markets and various other accounts. They don't loan out their customer's savings accounts, they loan out the money they make off these accounts.
They invest the money in high interest money markets and various other accounts. They don't loan out their customer's savings accounts, they loan out the money they make off these accounts.
That money earns interest when the bank loans it out.