Question

what is interest in banks??

Answer 1

An interest rate is a number that describes how much interest will be paid on a loan (or how much you'll earn on interest-bearing deposits). ... When you deposit money in a bank account or similar account, you basically lend that money to the bank and earn interest. Some banks offer higher interest rates than others.

Answer 2

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$\huge\boxed{Interest\: in\: Banks}$

Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party.

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