Answer:
Step-by-step explanation:
Although banks do a variety of tasks, their main responsibility is to collect money from those who have money—known as deposits—pool it, and then lend them to people who need money. Banks act as middlemen between depositors (who provide the bank with funds) and borrowers (to whom the bank lends money). Interest is the term used to describe both the fees that banks charge for deposits and the revenue they get from loans.
Individuals and households, financial and nonfinancial companies, as well as national and municipal governments, can all make deposits. In a way, borrowers are similar. Deposits may be readily available (in a checking account, for instance) or subject to certain limits (such as savings and time deposits).