Banks and It’s Types

The bank is the financial service and institution which is located in the every country of the world the bank is also receive the deposits from the account holder and also make the loans and paying the interest on the depositing of money.

If you want to a well the banking services you have to open an account in the bank and there are some of the verification to opening the bank account they will ask from you income source and there are also few more thing they will ask from you like your identity and the purpose of account opening.

There are three types of bank account
o Current Account
o Saving Account
o Default Account

The current account is used for the receive the salary of your job or any payment from your relative or friends.
And the saving account is types of bank account which is used for to save the money for the long term and the short term period of time.

The default account is the one of the most useful and common account in the banking system and other financial service system the most of people are using the default account.

There are also two kinds of bank account
o Business Account
o Individual Account

The business account is used for the business operations and other activities the account is opened by the showing the purpose of business and the nature of business.’
The individual account is used for the the personal purpose of the person which is used in the daily basis of life because the individual account is used for the person and family purpose.
There are many types of the Bank

o Retail bank
o Commercial Bank
o Investment Bank
o Central bank
o Online Bank

o Retail bank
The retail bank is types of bank which is used for them to open the checking and saving account save the funds this bank is focus on the consumer or the customer this bank will offer you credit cards bank loans and automobile loan services.

o Commercial Bank
The commercial bank is the one of the most used bank in the universe these kinds of banks are offering the all types of business account and individual account they are accepting the payment from the customer and the other business transactions they also use the latter of credit to make exchange and reliable exchange between buyer and seller.

o Investment Bank
Investment bank is the type of investing bank which is used to invest the funds in the care of interest also helps the business people to make funds and the financial services of the all transaction
.
o Central bank
The central bank is the one of the major bank in any country they also issue the monetary policy and the pyscal policy of the government of the every country.

o Online Bank
The online bank is the types of bank which is used on the source of internet this is the one of the most useful internet bank in the world many of the peoples are using this bank in terms of exchange money

Business and Banking

Business

The business is an kind of activity which is used to for to earn the maximum profit business can be used for the new innovation and other kinds of activities the whole world is co related with the business and the world is runs also the help of business people are still un aware from the business in the few of the areas of the world but many people’s are doing the business and earning the profit and lots of facilities.

Business is the back bone of the rich people the people who are earning the millions of dollars per day they are doing a good business in their daily life.

There are many types of business but its depends on the nature of business its very importance to do business or lunch business as per demand of the customers and the other peoples they are willing or able to buy your product or services.

The nature of business can be product or service in case of tangible or intangible business the tangible business mean which have the physical shape or existence but in intangible business can be the service or the demand of the customer.

Banking

The bank is the financial institution which is used to for save money or collect money as the intermediary the banks play the roles of intermediary in the business they exchange the deals they help in the trade and also helps in financial activities

The bank also providing the loan to the business peoples to grow their business and make creativity and effectiveness in the business.

Bank is very much important in the daily life we save money to save the business sales or to save the charity and other financial funds they also provide the interest on the depositing the money in the bank for the short term or the long term period of time.

Banks and business is correlated to the each other they are much essential in the now days the banks are very much important activity for all peoples.

The banks are providing insurance, home loan, health facilities and other allowance which is very much beneficial for the human or its family.

Purpose Of Bank

Banks are widely used each and every city of the specific country. Thousands of people work in the banks they are called employees. Every year banks retire promote and hire employees. This process is very strictly based on the merits of the candidates.

Candidates who want to work with bank are going to study or choose the specific field in their college or universities where they mostly study about the work being carried in banks.
In this technological world banks have the most important part in each and every country, even in each and every city. There are many numbers of banks in each city.

Banks have their branches which are spread in every city of the country most of the cities have more than one or two in the numbers because it is a financial institution from where we can borrow or lend money and this process can help us in any of our difficulties. Banks play very important role in economy also become it offers people to save their money in this way many of the people have solved their problems for saving at their homes which is very risky and thousands of people are involved in the saving in the bank as they find this way very easy than any other.

Banks also play very important role in offering finance/money to most of the businesses from this finance they invest somewhere and then they expand or get profits this process is used by very clever people and this process is now spreading Day by day in each and every city because everybody wants to earns money in the most easy way. Some of the people who do jobs they also wish to have a business too so they can earn more day by day. The loans and businesses investments play very important role in the growth of the economy of our country.

Banks keeps the money of the customers very safe and people also make trust in the banks and involve in this process. It also lends money for the home buyers which means people who wish to have their own home they can take loan from the bank which is specific for the homes buying only. Banks also play a good role in giving advices for financial systems and many of the financial services from which insurance have the very important role.

How Banks Work

Banks play very important role in every country of the world and they work in their specific way. They have created their own terms and conditions which every one have to follow and they have created very strict rules. Let’s walk through it so that you can understand that how banks works in the cities and every country of the world. Banks make money by simply moving money around you have to keep in your mind that we are moving towards services which are provided by the banks.

Banks have many services which every person can use easily and many of their First service is SAVING ACCOUNTS : from this service the most of the people become very familiar to save their money because this service will provide you to keep your money safe in the very easy way you have to just go to the bank and ask them for the opening of your saving account then the accounts employee will tell you your further process and he or she will fill your accounts form telling you the each and every bit of that. In this way you can save your money very easily and when ever if you need money you just go take your money the bank will provide you at any time and you will also earn the small amount of the money by saving your money there if you save it for the long time you can earn more and if you save it for short time you will earns less.

The other service by which banks works is CHECKING ACCOUNT : this is no different than the saving account but now this time you will lend your money to the bank but most of the people think that the money they are lending to the bank than the bank use that money for giving loans to other people for cars , automobiles , and many of the other things which is listened in the banks.

The banks works by making money we are going to tell you how they make money in easy way. The money which you loan to the bank from that bank earn the strong return and from that strong return they give a small amount of return from the part of the that profit in the form of interest. This how banks works and they make money.