Difference between revisions of "Bank"

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(Started Article)
 
(CONSERVAPEDIA IS A BIASED AND BIGOT ENCYCLOPEDIA. I, A MARTYR OF WIKIPEDIA, DECLARE WAR ON THIS PITIFUL COVEN OF RELIGIOUS ZEALOTS)
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A '''Bank''' is a financial institution which stores and lends money usually on both an individual and a corporate level.
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CONSERVAPEDIA IS A BIASED AND BIGOT ENCYCLOPEDIA. I, A MARTYR OF WIKIPEDIA, DECLARE WAR ON THIS PITIFUL COVEN OF RELIGIOUS ZEALOTS
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==Depositing==
 
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While banks can charge fees for services, mostly people depositing money in a bank will see the amount of that money increase due to [[interest rate]]s that the bank will pay.  Popular avenues for storing money are in [[checking account|checking]] or [[savings account|savings]] accounts.  Generally speaking checking accounts allow the writing of checks while savings accounts will not.  Savings accounts will generally pay a greater interest rate.
 
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Banks can also offer [[certificates of deposit]] where the money is tied up for a set length of time earning a set interest rate.  Generally speaking, the longer the period of time the money is tied up, the greater the interest rate it will earn.
 
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Some banks now also offer full service investing, where they will have a vendor come into the bank and offer access to [[mutual fund]]s and other investing opportunities that the banks themselves do not directly offer.
 
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==Loans==
 
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When banks make loans they charge a rate of interest to do so.  That rate is usually higher than the rate they pay out for deposits.  The most common form of loan is a [[home loan]], although banks can also make [[personal loans]] or provide [[home equity line]]s based upon the equity in a home after all loans against the property are subtracted.  Loan availability and loan rates usually based upon yearly [[household income]] and [[credit score]]s.
 
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==Insurance==
 
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Although banks are not part of the government, in areas like the [[United States]] accounts with a bank are insured by the [[government]] up to a certain dollar amount.
 
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[[Category:Economics]]
 

Revision as of 03:52, May 19, 2008

CONSERVAPEDIA IS A BIASED AND BIGOT ENCYCLOPEDIA. I, A MARTYR OF WIKIPEDIA, DECLARE WAR ON THIS PITIFUL COVEN OF RELIGIOUS ZEALOTS

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