what is bank and its function.?
Answers
Answered by
3
HELLO MATE......... - - - - -
To summarize, a bank works by paying people small amounts to lend them money, then lending that money onto others for larger amounts. They manage that whole process, and then keep the difference between the large amount (interest on loans) and small amount (interest from a savings account). The mainfunctions of banks are accepting deposit and lending loans: A – accepting deposits 1. Fixed deposits:- These deposits mature after a considerable long period like 1 year or more than that the rate of interest is fixed the amount deposited cannot be withdrawn before maturity date.
THANKS........ ❤️❤️❤️❤️❤️❤️❤️❤️❤️
To summarize, a bank works by paying people small amounts to lend them money, then lending that money onto others for larger amounts. They manage that whole process, and then keep the difference between the large amount (interest on loans) and small amount (interest from a savings account). The mainfunctions of banks are accepting deposit and lending loans: A – accepting deposits 1. Fixed deposits:- These deposits mature after a considerable long period like 1 year or more than that the rate of interest is fixed the amount deposited cannot be withdrawn before maturity date.
THANKS........ ❤️❤️❤️❤️❤️❤️❤️❤️❤️
Similar questions