Lending to other is the actual business of banks without which the banks cannot survive.
Banks usually charge around 20% - 30% for credit defaults. They also charge interest on the interests itself.
So the cumulative charge goes around 40% - 50% for credit defaults. There are different types of loans which gets the banks nice amount of profits.
They use the money we deposited in the banks and take profits while giving us peanuts. This is how they run their business.
If banks could follow what they preach to every customer then they would have never survived. When you go to a branch you will find a lot of marketing displays that promote only one thing for the customer. Which is asking their own customer to save money in a savings account, invest money in FD, use recurring deposits, and a lot more. If they follow their own principle they won't be making such huge returns on our money. This is quite normal for us now. They have been scamming us on our own money but we cannot say that it is a scam as we get penny returns from them in the disguise of good returns. Banks usually charge around 20% - 30% for credit defaults. They also charge interest on the interests itself.
So the cumulative charge goes around 40% - 50% for credit defaults. There are different types of loans which gets the banks nice amount of profits.
They use the money we deposited in the banks and take profits while giving us peanuts. This is how they run their business.
