Eli5 why do banks give interest on money that I am keeping there?

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It just seems like a semi necessary thing to have to use a bank, why do they pay me a % to keep money there?

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Anonymous 0 Comments

Bro you know how much money banks make off of us??

Think about this. You put in $100k to bank. The bank then loans out $100k to someone for a mortgage at 10%. After a year the bank has pocketed $10k OFF OF YOUR MONEY

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