How banks really work
Banks keep your money and lend it out
The story
Baraka’s mum puts KES 10,000 in her bank savings account. The bank doesn’t lock it in a box. It lends most of it to people and businesses.
The big idea
Banks pay savers some interest and charge borrowers more interest. The gap pays for staff, branches and bad loans, and the rest is profit.
Ask at home
Look at a bank statement or app together and explain deposits, withdrawals and interest.
The full lesson, with its questions and Kesho Stars, is in the myKesho kids app.
Ready for tomorrow.
Start this week. Their first payday can be this Friday.
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