BANK
The banking system that involves accepting deposits
and lending money initiated centuries back in various parts of the world. The
system improvised over the time and the banks these days offer various other
facilities in addition to the basic depositing and lending of money.
People are encouraged to keep their money in the banks
because it is a safe and secure way to store the money. The money stored in the
bank in the form of fixed deposits and recurring deposits also fetches a good
amount of interest. In addition to money, one can also keep jewellery and
important papers in the bank lockers.
Providing loans, which is another primary function of
the banks, is also beneficial for individuals and businesses in many ways.
Salaried people can build their assets such as property, car, etc easily with
the help of loans from the bank. Businessmen can expand their businesses with
this facility. A number of other services are also provided to the businessmen
to ease their financial transactions and aid in the growth of their business.
Online Banking has further enhanced the process of
banking. Various banking services such as checking balance, transferring
amount, applying for loan are now provided on the bank’s website. All the
customers require doing is opting for internet banking service.
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