Question

People have to pay higher interest on loans than the interest they receive on a fixed deposit for the same time period why do u think so

Answer 1

Currently, in India, banks are offering very high rates on Fixed Deposits (FD). What I am curious about is that the rate is often higher for a 1 yr lock in period than a 2 yr lock in period. I would think, the longer you park your money with the bank, the more the bank would reward you with a higher rate.

So what am I missing here?

plz mark as brainliest dear

Answer 2

Answer:

The intrest is higher because bank circulate these money for its functions