Ask Question
17 July, 08:29

Why would a bank give higher interest rates for koney in a savings account than for money in. A checkings account

+2
Answers (1)
  1. 17 July, 11:34
    0
    Many savings accounts have restrictions on the number of transactions that can occur in any given time period. The intent is to ensure that the money in those accounts is less likely to be withdrawn, so is more available to the bank for its long-term needs (mortgages and loans). This is valuable to the bank, so it is willing to pay higher interest for that.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Why would a bank give higher interest rates for koney in a savings account than for money in. A checkings account ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers