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There could be thousands of reasons people borrow money. To buy a home, to take a vacation, there are too many reasons why people would borrow money to list here. Hopefully you got the jest of this answer.
There are numerous reasons for the borrowing of money but common ones are; home loans, purchasing of insurance, purchasing of business companies, etc.
People borrow money in general because they either can't afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank
What else can I help you with?
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.
Can you go to the bank to take out a loan?
That is probably the most common way to borrow money and the main reason banks were created.
Is a bank a store?
In the normal use of the term, no, a bank is not a store. A store is a place where you can go to buy things. A bank is a place where you can deposit, withdraw, or borrow money. However it could be argued on etymological grounds that as a bank does store money, it is in that sense a store, or a storehouse.
Where can a person go to get information on home equity loans?
This information can be found at any bank in the UK such as Barclays or HSBC. Their website have a lot of information on how to borrow money against the value or 'equity' in your home.
What happens during a bank run-?
customers attempt to withdraw more money than the bank has on hand
How do you borrow money for your car?
go to the bank and ask for an auto loan.
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.
Can you go to the bank to take out a loan?
That is probably the most common way to borrow money and the main reason banks were created.
Is a bank a store?
In the normal use of the term, no, a bank is not a store. A store is a place where you can go to buy things. A bank is a place where you can deposit, withdraw, or borrow money. However it could be argued on etymological grounds that as a bank does store money, it is in that sense a store, or a storehouse.
Can a bank legally ask why you need an auto loan?
Yes. A bank can legally ask you why you need an auto loan. You want to borrow money from them. They want to get it back. They want to make sure you are a good upstanding citizen and a good credit risk. They can ask you almost any question they please. They do not have to lend you money. You do not have to borrow money from them. You can go down the street and borrow from someone else. That is the way private enterprise and life works.
Where to get a loan in a hurry with poor credit?
The easiest is to go to a bank and get a backed loan. You give the bank the amount of money you wish to borrow, they will then give you a loan for that amount knowing it is secured. You then make payments on the loan to build your rating.
Where people go to borrow books?
they go to library
Where can a person go to get information on home equity loans?
This information can be found at any bank in the UK such as Barclays or HSBC. Their website have a lot of information on how to borrow money against the value or 'equity' in your home.
When money in drawn on a Bank does it go there or comes from there?
That means money comes out of the bank.
What happens during a bank run-?
customers attempt to withdraw more money than the bank has on hand
Can you borrow from the same lender to repay a student loan?
i think you should not borrow the money because how are you going to pay back but if you have a plan to pay back go ahead and borrow
How much money is the debt you have to pay on Skullduggery Island?
You can borrow money from the Golden Harbor bank to get more cargo or a larger ship, but you have to go there to do it. You have 20 days to repay the loan. (A day is whatever time it takes you to go from one island to a different island. If you leave an island and go back there, no days at all elapse!)
