Banking

Commercial banks earn money through different businesses, which are detailed below: 1) Interest on Loans: Commercial banks lend money to industrialists, traders, or consumers, and charge interest on the loans. This is the main source of their income. 2) Investment: Commercial banks earn profit by investing in profitable sectors like shares, issuing letters of credit, … Read more

Banks offer scopes for opening various kinds of accounts according to their clients’ demand. Bank accounts can be categorized into the following types based on people’s occupation, need, time, location and demand: 1) Current Account 2) Savings Account 3) Fixed Deposit In addition to the above three accounts, banks offer following more types of accounts … Read more