Description

Bank interest is the amount of money a customer receives from a bank for depositing money into savings or investment accounts. Interest is usually calculated at a certain percentage that is added to the original amount deposited by the customer, whether it is in the form of monthly or annual interest. Banks use this interest as an incentive to attract savings from customers, and interest is a source for banks to make profits by investing this money in loans or other financial activities. Despite their benefits to depositors, bank interest can be controversial in some circles, especially from a Sharia law perspective in Islam, where it is seen as “usury” in some contexts.