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    BANK

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    Charu Nitin Kohli
    A bank is a licensed financial institution that receives deposits and makes loans. There are different types of banks like retail, commercial, and investment banks. Banks are typically regulated by governments or central banks. A bank's primary functions are to facilitate financial transactions, provide savings accounts, offer loans, and provide various financial services. Common bank accounts include savings accounts, current accounts, fixed deposits, and recurring deposits.

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    © All Rights Reserved
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    BANK

    Uploaded by

    Charu Nitin Kohli
    19 views11 pages
    A bank is a licensed financial institution that receives deposits and makes loans. There are different types of banks like retail, commercial, and investment banks. Banks are typically regulated by governments or central banks. A bank's primary functions are to facilitate financial transactions, provide savings accounts, offer loans, and provide various financial services. Common bank accounts include savings accounts, current accounts, fixed deposits, and recurring deposits.

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    BANKING BASIC TERMS

    Original Title

    BANK.PPTX

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    A bank is a licensed financial institution that receives deposits and makes loans. There are different types of banks like retail, commercial, and investment banks. Banks are typically regulated by governments or central banks. A bank's primary functions are to facilitate financial transactions, provide savings accounts, offer loans, and provide various financial services. Common bank accounts include savings accounts, current accounts, fixed deposits, and recurring deposits.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    19 views11 pages

    BANK

    Uploaded by

    Charu Nitin Kohli
    A bank is a licensed financial institution that receives deposits and makes loans. There are different types of banks like retail, commercial, and investment banks. Banks are typically regulated by governments or central banks. A bank's primary functions are to facilitate financial transactions, provide savings accounts, offer loans, and provide various financial services. Common bank accounts include savings accounts, current accounts, fixed deposits, and recurring deposits.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    WHAT IS A BANK???

    A bank is a financial institution licensed


    to receive deposits and make loans.
    There are several types of banks
    including retail, commercial, and
    investment banks.

    In most countries, banks are regulated


    by the national government or central
    bank.

    CHARU NAGPAL
    What is the primary function of a
    bank?

    The primary function of a bank is


    to facilitate financial transactions,
    provide a safe place for people to
    store their money, offer loans to
    individuals and businesses, and
    offer various financial services.

    CHARU NAGPAL
    TYPES OF ACCOUNTS IN A
    BANK

    SAVINGS ACCOUNT
    CURRENT ACCOUNT
    FIXED DEPOSITS ACCOUNT
    RECURRING DEPOSITS ACCOUNT

    CHARU NAGPAL
    SAVING
    ACCOUNT
    A savings account is a financial
    instrument held with a bank
    where accountholders deposit
    money in their account and earn
    modest interests on it.

    People prefer these accounts


    because of their ease of use,
    safety, reliability, and liquidity.

    CHARU NAGPAL
    EATURES OF SAVINGS ACCOUNT
    Account holders earn interests on the amount in their savings account ranging
    from 2% to 7%

    In most cases, senior citizens get an additional interest rate of 0.5% above
    regular interest rates

    High liquidity for withdrawing or transferring money as many times as the


    account holder wants to ( depends upon the product of the bank)

    Accountholders get debit cards or ATM cards that can be used to make
    payments, online transactions, or withdraw cash from ATM

    Carry out fund transfers using UPI, NEFT, IMPS, or RTGS through net
    banking, mobile banking, or by visiting the bank branch

    Option to operate the savings account via net banking, mobile banking, phone
    banking, or SMS banking

    CHARU NAGPAL
    Features of Current
    Account

    Current Easy Access


    A current account provides customers
    with easy access to their funds. This is
    Account because many banks offer debit cards,
    online banking and mobile banking
    services that make it easy to pay bills or
    withdraw funds from an ATM.

    Current accounts are a type of bank Higher Withdrawal Limits


    account that is used by businesses They usually have higher withdrawal
    for day-to-day financial transactions. limits compared to other types of
    They are often used by business accounts, such as savings accounts. This
    owners and corporations to manage means that customers can withdraw
    their finances. larger amounts of money at once or more
    frequently.

    CHARU NAGPAL
    Overdraft
    Current accounts typically come with an
    Features of Current Account overdraft facility. This gives account
    holders access to extra money in their
    account when they need it, to cover
    unexpected expenses or to bridge a
    cashflow gap. This is especially useful
    for businesses that are just starting out.

    Bulk payout facilities


    Account holders can securely make bulk
    payments to customers, vendors or
    employees.

    CHARU NAGPAL
    Salary Account
    Salary Account is a type
    of Savings Account, in
    which the employer of
    the account holder
    deposits a fixed amount
    of money as ‘salary’
    every month.

    CHARU NAGPAL
    Difference between Salary Account and Savings account
    A Salary Account is a type of Savings Account, but there are a few differences between two:

    Salary Account Savings Account


    Can be opened by any eligible
    Can be opened only by an employer
    individual
    Minimum balance needs to be
    Zero-balance account
    maintained on monthly/quarterly basis
    Benefits offered usually have a fee
    More benefits to the account holder
    attached
    Main purpose: monthly credit of
    Main purpose: encouraging savings
    salary
    Interest between 3-6% paid Interest between 3-6% paid

    CHARU NAGPAL
    Fixed Deposit Account
    FD full form is Fixed Deposit. It is type of investment in
    which an individual invests a lump sum amount for a specific
    period of time with a bank.

    The amount deposited in the FD earns interest at a fixed


    rate which is set at the time of the account opening.

    FD holders can choose to receive the interest earned either


    monthly, quarterly, half-yearly or annually as per their
    preference.

    CHARU NAGPAL
    RECURRING A Recurring Deposit, also known as an RD,

    DEPOSIT
    is a term deposit that allows customers to
    invest an amount of their choice each month
    and easily save money.

    ACCOUNT
    •Investors can choose the tenure of the
    deposit and the monthly payment amount
    based on their convenience.

    •RD schemes are generally more flexible


    than fixed deposit schemes and are
    typically preferred by those who want to
    start an account to save money and build
    a rainy-day fund.

    CHARU NAGPAL

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