Hey, Is this considered a bank

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Hey, Is this considered a bank

Post  Guest on Thu Dec 10, 2009 6:13 pm

Well is it? because If it is I would like to deposit money

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Re: Hey, Is this considered a bank

Post  VMC-Edward on Thu Dec 10, 2009 6:21 pm

I could introduce a deposit storage thing to the list of things we do if you want.
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Re: Hey, Is this considered a bank

Post  Guest on Thu Dec 10, 2009 6:28 pm

could you also introduce other thngs like:

Savings Bonds
Certificates of Deposit
Money Market Deposit Accounts
Money Market Mutual Funds
Corporate and Government Bonds


?

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Re: Hey, Is this considered a bank

Post  VMC-Edward on Thu Dec 10, 2009 7:22 pm

Explain them please.
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Re: Hey, Is this considered a bank

Post  Guest on Sat Dec 12, 2009 12:09 am

1. A Savings Bond is an agreement with someone that you will lend them some money and they will pay you back with interest. The interest is ussualy around 5%

2. A Certificate of Deposit is like a saving bond that is more long term and earnes around 10% interest.

3. A Money Market Deposit Account is like a savings account that earns 15% interest, but the bank puts a limit on the number of checks you can make.

4. Money Market Mutual Funds would be unworkable without a stock market

5. Corporate and Government loans are loans (similar to a savings bond) that is either lent to a government or to a corporation. Corporate bonds are not garanteed by the governments and usually offer a 15% interest rate. Government bonds are the same as corporate bonds but they ARE garenteed by the governments but they ussualy earn 10% interest.

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Re: Hey, Is this considered a bank

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