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 What is interest? What's a minimum balance? What is a loan? What is interest? Interest is the reward a bank will pay to its customers for keeping their money in an account.  What's a minimum balance? It is the amount of money that must be kept in an account to avoid a service charge. What is a loan? It is a signed agreement between a person or Company and a Bank. The bank lends the money to an individual or Company and they in turn payback this money in small amounts. |
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