Question

Banks pay interest to customers through a

savings account.
credit card account.
mortgage account.
401k account.

Answer 1

Answer:

A. Savings Account

Explanation:

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Answer 2

Banks pay interest to customers through a savings account.

Explanation:

• When you deposit money into the account, and, in return, the bank pays you interest.
• Banks pay interest on the amount of money which you keep in your savings account.
• Though, the interest varies or differs from one bank to another.
• This interest is calculated on the daily basis.
• It is calculated on the basis of the closing balance of your savings account.
• Banks utilise the money deposited on savings accounts to lend it to borrowers, who pay interest on their loans.
• Hence, the correct answer among all the options is option to savings account.

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