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Banking Products and Services - Coggle Diagram
Banking Products and Services
deposits
transaction accounts
funds in a transaction account can be accessed without notice to the bank or withdrawn at any time without penalty
non-interest earning checking accounts
interest earning checking accounts
savings accounts
is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest
time deposit account
have the exact maturity date
interest is paid on the deposit balance after the maturity date
credits
overdraw
a manager a limit to the size of the overdraft and may stipulate the date by which the account is back in credit
a bank charges interest on the overdrawn amount
loans
consumer
installment credit
a loan or credit account on which the payments (including interest) are made at regular intervals
if the interest rate is fixed for a set term, the payments are for a fixed amount, and the loan amount and interest are fully repaid by the end of the term.
mortgage loans
as the security for loan repayment typically used to purchase a home are commonly called mortgage loans
business
short term
long term
line of credit
electronic banking services
remote terminal transactions
automated teller machine
point-of-sale (POS) terminal
telephone transactions
other electronic transactions
safe deposit box
functions
thrift
credit
payment
cash management
underwriting
investment/ planning
brokerage
insurance and trust