Hot Student Stories

Definition of bank?

Blair Lewis

in Student Loans

1 answer

1 answer

Roger Moore on August 8, 2018

The bank is a financial institution which collects money as deposits from customers and uses the same to grant loans to other customers. It acts as a bridge between people who have cash surplus, and to transmit it to the people who are in need of it. It pays an interest of deposit of the customers and you receive an interest credit to the customers and makes a profit through a difference in both.

Add you answer