Sociology, asked by rahul449018, 10 months ago

how the banks developed & worked

Answers

Answered by riyamalik51

Explanation:

Banks work by paying its customers to lend them money. ... The depositing customer gains a small amount of money in return (interest on savings), and the lending customer pays a larger amount of money to the bank in return (interest on loans).

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Answered by asamdisahal

Answer:Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively. ... Interest you earn on your balance is also added to your account. Banks create money in the economy by making loans.

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