How do the banks make a billion dollars in a year??
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How do the banks make a billion dollars in a year?? |
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They take the money that you deposit and invest it in everything from stocks to houses. Some banks are also lending institutions so they'll let people borrow money at a rate where the bank yields a nice return on the loan.
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The invest your money and make money from investments. They also have a lot of loans that are generating income via interest. Interest is a huge money make and if you've ever seen a Good Faith Estimate where you end up paying double your loan amount if you pay the minimum payment, you'll understand.
They also make money from other services like Checking/Saving account fees, credit cards and transfers/wires. 1 month ago Report Abuse
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