What are credits and what is the Maine source of income in bank s?
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Main source of income of bank is the money they charge from the people who ask loans to them this rate of charge is more than what they guve to the depositors. The money they get from this transaction is the main source of their income
Credit is the activity of borrowing and lending money between two parties
Credit is the activity of borrowing and lending money between two parties
But answer is also too good.
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Credit refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payments.
banks charge a high rate of interest on loans than what they offer on deposits.
the difference between what is charged from borrowers and what is paid to depositors is their (banks) main source of income
banks charge a high rate of interest on loans than what they offer on deposits.
the difference between what is charged from borrowers and what is paid to depositors is their (banks) main source of income
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