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How do the deposits with the …

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How do the deposits with the banks become their source of income?

Posted by Evya Rai 6 years, 8 months ago

CBSE > Class 10 > Social Science

1 answers

Sia ? 6 years, 8 months ago

Banks use a major portion of deposits to extend loans. They charge a higher rate of interest on loans than what they offer on deposits. The difference between what is charged from borrowers and what is paid to the depositors is the main source of income for the banks.

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