Bank is a financial institution, where people deposit all their money to keep it safe. It is one of the safest modes of investment. Banks aren't only accepting deposits from customers, they offer people loans to purchase property and other things to their customers. There are different kinds of banks all around the world where each bank offers different kinds of service to their customer based on their needs. Here are in this article we will help you with complete information on 3 kinds of banks and their services.
Here is a list of 3 kinds of banks and know the services offered by them to customers. Most of the people can use these banks to fulfill their needs and as they can increase their earnings by investing in mutual funds. You can choose the best kind of banks based on your needs.
Retail banks deal directly with small business owners and consumers. The main focus of these banks is savings and savings products mainly, their deal with other products also like loans and other mortgages. If you need a loan, you can apply to the banks using either the online or offline application. Once the applications are received by the bank representative, they will contact you through phone and give you all the details regarding the loan application process. If you want to protect your investment you can use the fixed deposit options available in a bank, where you can get earn extra money based on the maturity of fixed deposit you have deposited, you can also use the savings option to protect your investment. If you're running a business, you can make use of the current account option.
Corporate banks offer a wide range of service to business people based on their needs. Where if you need a large sum of money to expand your business to various locations, in such times the corporate banks are the best option you can go with. Corporate banks deals with both small business and large business owners. Every corporate bank in your location follows a different application process based on the rules and laws applied to all the banking institutions by Federal bank.
These offer services like insurance and mutual fund options. Insurance options protect your investment and matures after a few years. These loans benefit you, else you can go for mutual fund options which are risk based.
Choose the right kind of bank and protect your investment.