need and importance of bank
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Answered by
27
Banks helps us in many ways.every citizen should have account. Bank helps to transfer money , to get loan etc....
Banks play an important role as an intermediary, or go-between, in the financial system. They have three main functions:
Banks are where people can safely deposit their savings, which banks then pay interest on. If there were no banks, people would have to store and protect their savings themselves, which would involve major risks.Banks are largely responsible for the payments system. Electronic payments are becoming more important as people use less cash. This means that banks are processing more card payments, transfers, direct debits, etc. every day.Banks issue loans to both people and companies. Without banks, it would be very hard for people to buy a home or start a business, or for companies to make investments, for example.
Banks do a variety of other things, such as helping corporations with their, often more complex, financial needs. This can range from the various ways to gain access to capital for growth and investments, to assisting in mergers and acquisitions, to converting currencies.
Banks play an important role as an intermediary, or go-between, in the financial system. They have three main functions:
Banks are where people can safely deposit their savings, which banks then pay interest on. If there were no banks, people would have to store and protect their savings themselves, which would involve major risks.Banks are largely responsible for the payments system. Electronic payments are becoming more important as people use less cash. This means that banks are processing more card payments, transfers, direct debits, etc. every day.Banks issue loans to both people and companies. Without banks, it would be very hard for people to buy a home or start a business, or for companies to make investments, for example.
Banks do a variety of other things, such as helping corporations with their, often more complex, financial needs. This can range from the various ways to gain access to capital for growth and investments, to assisting in mergers and acquisitions, to converting currencies.
Answered by
25
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.I hope this is what you need.
THANK YOU)
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.I hope this is what you need.
THANK YOU)
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