2007-03-30 11:33:23 · 10 answers · asked by Anonymous in Travel ➔ United States ➔ New York City
They earn interest on the money that they lend out. They also get some money from various fees.
They also can invest the money that people deposit at a higher return than they give out for interest.
So if I were a bank, I could offer a savings rate of 2%, and I could deposit the money in my ING account at 4.5% interest and make a profit.
2007-03-30 11:37:26 · answer #1 · answered by Vegan 7 · 0⤊ 0⤋
They loan you money at a high interest rate, and give you a lower interest rate on money you keep in the bank. Basically, government sponsored loan sharking.
2007-04-06 10:45:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
By holding back your deposits till you are in over-draft then collecting a ridiculous penalty.
Thanks Bank of America.....I hope you get yours someday.
2007-03-30 18:36:51 · answer #3 · answered by Mr Mojo 2 · 2⤊ 1⤋
They take your savings and invest it other places with a higher interest rate than they are paying you.
2007-03-30 18:52:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Fee's and IRA's CD's, trusts, and currency along with loans and economy
2007-03-30 18:36:57 · answer #5 · answered by gsxr650 3 · 2⤊ 0⤋
The technical name is usury
2007-03-30 18:38:45 · answer #6 · answered by Robert F 7 · 0⤊ 0⤋
fees such as the account keeping ones and interest on loans.
2007-03-30 18:42:10 · answer #7 · answered by skeme66 2 · 0⤊ 0⤋
By charging fees!
2007-03-30 18:36:47 · answer #8 · answered by Anonymous · 2⤊ 0⤋
By being cunning
2007-04-06 04:37:19 · answer #9 · answered by hopeless 4 · 0⤊ 0⤋
getting yearly rates off you
2007-03-30 18:36:09 · answer #10 · answered by Unknown 5 · 0⤊ 0⤋