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What's the purpose of a credit report?

To help banks determine if people should be given a loan or credit card


What did people do before there were banks?

Before banks people put their money in safes


Why people use banks?

People use banks; *So if they get there house been ram sack, they will be about to pay for all the damiages *So they can go on trips with there family *So they will not lose they money somewhere that they will not know, so they but there money in the bank. *So they can save up for schooling *So they can help old people with there money. *And there are more things why people use banks.


What are the main functions of nationalised banks?

The functions of nationalized and private banks don't differ much. Except for the fact that nationalized banks are owned by the government, they do exactly the same thing private banks do. One difference I can think of is that, they operate in rural areas where private banks don't see any profitability to operate. They may help provide financial services to rural people.


Why do banks give interest on deposit?

Banks make money by lending money to people and charging people for borrowing. The amount banks charge is called interest. Banks borrow money from other people and pay them interest on the amount borrowed. Banks charge more interest on the money they lend than they pay one the money they borrow. That is how they make money. When people deposit money with a bank, the bank is literally borrowing money from some people so they can lend it to other people. That is why banks pay interest.

Related Questions

Where can someone find a Dept help?

Most banks will help people with debt problems. Banks want to help people because then people will trust the banks more and will feel safer with them, which often means that the customer will use that bank more.


What did Roosevelt tell people about banks in his fire side chats?

He explained his policies and assured people that he could help them through the DepressionAPEX


What are uses of bank's websites?

it is there to help people in banking who can't go to banks.


How can banks help people refinance their mortgages?

Banks will help people refinance their mortgages by offering them a good rate of interest to borrow more money, You might want to do this if you were thinking of having home improvement work carried out and didn't have the money to hand to pay for it.


What is is the purpose of a credit report?

To help banks determine if people should be given a loan or credit card


What is purpose of credit report?

To help banks determine if people should be given a loan or credit card


What's the purpose of a credit report?

To help banks determine if people should be given a loan or credit card


What did people do before there were banks?

Before banks people put their money in safes


Why people use banks?

People use banks; *So if they get there house been ram sack, they will be about to pay for all the damiages *So they can go on trips with there family *So they will not lose they money somewhere that they will not know, so they but there money in the bank. *So they can save up for schooling *So they can help old people with there money. *And there are more things why people use banks.


How banks help expand and maintain the economy?

Banks help expand and maintain the economy by providing loans and credit to businesses.


What do service banks provide?

banks provide help to the customers by giving resources such as money.


Are district cooperative banks government banks or private banks?

That would depend on where you live but cooperative banks are normally private banks owned by the people (but not the government).