1. Services Banks Offer


2. 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

3. 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.

4. 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.

5. Methods of Payment

Cash

Direct debit

Check (cheque)

Debit card

Credit card