Different Products and Services of Banks
Posted by Ripon Abu Hasnat on Monday, November 24, 2014 | 0 comments
Mainly there are two types of
product in Bank. These are
· Deposits
– Banks accept the deposits of the
public. In order to attract the savings of the people, the bank provides every
sort of facility and inspiration to them and collects the scattered savings of
the society. The bank opens an account of those people who deposit their
savings with the bank. These deposit accounts can mainly be of three types and
people can open any of these three types of accounts according to their wish.
These accounts are current account, saving bank account, fixed deposit account.
· Loans
– The bank just don’t keep with
themselves the deposited amount of the people, rather they advance them in the
form of loans to the businessman and entrepreneurs, just to earn profits for
their partners. The loanee keeps some gold, silver, fixed and variable assets
in the form of security with the bank. The bank can advance loan to their
customers in three ways: overdrafts, money at call, discounting bills of
exchange.
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