Question

Explain the importance of Banks​

Answer 1

bank is a financial institution which is involved in borrowing and lending money.Banks take customer deposits in return for paying customers an annual interest payment. The bank then uses the majority of these deposits to lend to other customers for a variety of loans.

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Answer 2

Answer:

hi dear...

the importance of a bank

when you have any money you saved,and you want to keep it safe,then what to do?but hey! No piggy banks!you can always put it into a bank account.why?......

1 banks give interest when you have stored money for a long time

2 banks also give you loans

3 banks have ATMs to withdraw your money so as to not go to the bank always.

4 banks give you educational loans,also give you interest in storage of money they also give you car,home or any loan you can think of.

5 last but not the least......they hold out your credit cards , your important house or land or flat papers etc

so it is almost impossible to live with out a bank.

(this is just short thing about banks’ importance.)

have a nice day...(◠‿・)