In the US, a bank is defined as a financial institutions which offers both deposit accounts and loans.
If consider the functionality or the roles in banking industry, only to very limited extend, there is nothing wrong to consider the Reserve Bank of India as Central Bank or Apex Bank with a connotation as Bankers' Bank. But, in these days, Reserve Bank of India is much more than these two terms.
If consider the functionality or the roles in banking industry, only to very limited extend, there is nothing wrong to consider the Reserve Bank of India as Central Bank or Apex Bank with a connotation as Bankers' Bank. But, in these days, Reserve Bank of India is much more than these two terms.
When opening a bank account, it is important to carefully review the terms and conditions provided by the bank. This will give you a clear understanding of the fees, interest rates, and any account limitations or requirements. Reviewing the documents will help you make an informed decision and avoid any surprises in the future.
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Affin Bank offers armed forces loans and corporate finance loans. Affin Bank is the smallest bank from Malaysia, in terms of the funds invested and on the annual revenue of the bank.
The largest bank in terms of asset base is Bank of Ceylon. But in terms of customer service centres is People's Bank
Eight point fifty two or eight and fifty two hundredths.
These two terms are different.For a bank overdraft, you should have an account with the bank and it is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis.A bank loan is a fixed amount for a fixed term with regular fixed repayments. The interest on a loan tends to be lower than an overdraft.
Banks may close accounts for various reasons, such as suspected fraudulent activity, failure to comply with account terms, or a decision based on the bank's risk assessment. It's important to contact your bank directly to understand the specific reason for the account closure.
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In banking terms, withdrawal means the removal of money from a bank account. So the opposite is deposit, the adding of money to a bank account
To obtain a Letter of Credit (LC) from a bank, you typically need to submit an application along with relevant supporting documents, such as a sales contract and any required financial information. The bank will review your application and assess your creditworthiness before issuing the LC. Once approved, the bank will provide the LC to the beneficiary, ensuring payment as long as the specified terms and conditions are met. It's important to understand the fees and terms associated with the LC beforehand.