How r the deposits with bank …

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How r the deposits with bank beneficial for nation and individual

Posted by ??? Ram ??? 6 years ago

CBSE > Class 10 > Social Science

1 answers

Class 12 6 years ago

Because whatever amount a person deposits in bank ?the bank keep a small proportion of it to give the money to the depositor whenever he ask in future and rest of the money is given to the the people who ask for loan from the bank on an interest rate ?some interest rates are also given to the depositor as a reward for depositing their money in the bank. But whatever interest the bank demands from borrower is very high than whatever bank paid to the depositor. The differences between these interests is the real income or u can say profit for the bank .... in this way deposits with bank are beneficial for both nation and individual ?

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