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How does a savings account benefit the bank
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31 votes
How does a savings account benefit the bank

User NetAction
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23 votes

Answer:

Having a strong base of savings account deposits is critical for a bank to remain solvent and profitable. Banks use that money to lend to borrowers, who then pay interest on their loans. After paying for various costs, banks pay money on savings deposits to attract new savers and keep the ones they have.

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User Zhile Zou
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