G9 10 bank-services
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Transcript of G9 10 bank-services
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Services Banks Offer
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Types of Account
Deposit account Current or checking account – a deposit
account with additional benefits. E.g. writing checks, using a debit card, etc.
Savings account – with an interest
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Types of Loan
Overdraft – allows bank customers to overdraw their account by an agreed amount. Convenient short-term loan. Interest is charged.
Personal loan – repaid with interest over a fixed period, usually for more than 6 months and up to 10 years.
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Types of Loan
Commercial loan – a loan to a business to pay for operating costs and the purchase of materials and machinery. Loan is repayable with interest over a fixed period of time.
Mortgage – a long-term loan, often up to 25 years, used by people or firms to buy property. The loan is secured against the property.
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Methods of Payment
Cash Direct debit Check (cheque) Debit card Credit card