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Line 1: − + − − ==Depositing== − − 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. − − 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. − − 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. − − ==Loans== − − 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. − − ==Insurance== − − 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. − − [[Category:Economics]]
CONSERVAPEDIA IS A BIASED AND BIGOT ENCYCLOPEDIA. I, A MARTYR OF WIKIPEDIA, DECLARE WAR ON THIS PITIFUL COVEN OF RELIGIOUS ZEALOTS
A '''Bank''' is a financial institution which stores and lends money usually on both an individual and a corporate level.
CONSERVAPEDIA IS A BIASED AND BIGOT ENCYCLOPEDIA. I, A MARTYR OF WIKIPEDIA, DECLARE WAR ON THIS PITIFUL COVEN OF RELIGIOUS ZEALOTS