how do banks use the money deposited by people?
Answers
Answer:
Commercial banks make money by providing loans and earning interest income from those loans. ... Customers who deposit money into these accounts effectively lend money to the bank and are paid interest. However, the interest rate paid by the bank on money they borrow is less than the rate charged on money they lend
Explanation:
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Answer:
Commercial banks make money by providing loans and earning interest income from those loans. ... Customers who deposit money into these accounts effectively lend money to the bank and are paid interest. However, the interest rate paid by the bank on money they borrow is less than the rate charged on money they lend.
Explanation:
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