Eli5 why do banks give interest on money that I am keeping there? 1.16K viewsDecember 31, 2023 Question100.55K September 14, 2023 0 Comments It just seems like a semi necessary thing to have to use a bank, why do they pay me a % to keep money there? In: 1333 33 Answers ActiveNewestOldest Anonymous Posted September 14, 2023 0 Comments They make money by lending your money to others. That’s your cut of the interest they collect from those loans. It’s the incentive for people to give them money which they can then loan out at a profit. You are viewing 1 out of 33 answers, click here to view all answers. Register or Login
Latest Answers