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People go to Bank to deposit Cash or Cheques or Drafts in their accounts, and to withdraw cash from their accounts and also to make necessary entries in their passbooks.
Reply from:
T.J. Suruthi, H-63, Palaami Enclave, New Natham Road, Reserve Line, Madurai-625014, Tamil Nadu, India
What else can I help you with?
What is borrowing from the bank call?
taking a loan
Difference between bank loan and bank overdraft?
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.
What is the meaning of 'borrowing from banks?
Borrowing from banks refers to the operation when an individual borrows money or takes a loan from a bank. The bank lends the individual money and this person will repay the loan to the bank. For ex: If I wanna buy a home, I will take a home loan from a bank and buy the house. Then I will pay my mortgage every month for the next few years and repay the money I borrowed from them.
How much interest does a bank charge when borrowing money?
The amount of interest that a bank charges when you take a loan from them varies greatly. Every bank is different, and even in a specific bank rates can be different. A personal loan to a car loan will have different rates. Your best bet is to call your local bank and ask them the rate for the specific loan you need.
Can you explain how a car loan from a bank works?
A car loan from a bank is a type of loan that you can get to buy a car. The bank lends you the money to purchase the car, and you agree to pay back the loan amount plus interest over a set period of time. The interest is the cost of borrowing the money. If you don't make your loan payments, the bank can repossess the car.
What is pledge loan?
pledged loan -- A mortgage loan that has been identified and set aside as security for borrowing by the holder of the mortgage; particularly a loan that has been pledged as security for an advance from a Federal Home Loan Bank.
What are the primary assets and liabilities of a commercial bank?
Loan assets and investment assets are the primary assets of a commercial bank. Deposits and borrowing are liabilities also known as claims to a commercial bank.
What is a loan recast?
borrowing more money ontop of an existing loan
Why do most people take a mortgage loan when they purchase a house?
They take the loan to purchace the house.Not many people have $400,000 + in their bank..Thus they borrow it from the bank.
Who is bank employee who helps customers borrow money?
A bank employee who helps customers borrow money is typically referred to as a loan officer. Loan officers assess applicants' creditworthiness, explain loan options, and guide customers through the borrowing process. They play a crucial role in evaluating loan applications and ensuring that customers understand the terms and conditions of their loans.
What is the difference between interest on savings account and interest on a loan?
The only real difference is that the interest on a savings account is money paid to you by the bank (usually paid quarterly by many banks). On the other hand, on a loan is money you pay the bank for borrowing their money. The reason the bank pays you interest on a savings account is because the bank will actually use the money you give them in your savings to pay others loans. So in basic terms, they are "borrowing" your money, so they pay you interest for doing so.
Where to get a loan?
Before getting a loan a lot of things are to be considered. Previously people was not so busy and they directly had go to bank and apply for loan. Nowadays, people are busy and they have short time or even no time to go bank and apply for loan.
