Please enable JavaScript.

Coggle requires JavaScript to display documents.

Business (Supporting services (Insurance (Life insurance (As a form of…

- - - - Savings
        
        Advantages
        Security for money
        Interest income
        Deposit or withdraw at any time
        Withdraw at emergency
        Allow ATM transactions
        Paying by Debit Cards
        
        Process
        Completed form
        Deposit slip
        KYC form
        Tax declaration form + NIC
        Passbook
      - Fixed deposits
        
        Features
        Maintained for a certain period of time
        Higher interest rate
        Interest collected monthly or at maturity
        Cannot withdraw at anytime
        Interest rates }Amount & Deposit period
        
        Process
        Fixed deposit mandate
        Deposit slip
        KYC form
        Tax declaration form + NIC
        Fixed deposit certificate
      - Current Accounts
        
        Features
        Maintained only in commercial banks
        Transactions via cheques
        No interest income
        Receiving bank statement
        
        Process
        Meeting active friend
        Meeting manager
        Application form
        Current A/C mandate & deposit slip
        NIC
        Passbook
        
        Cheques
        A written order issued
        to the bank by
        Current A/C holder to
        pay to the payee
        
        Crossing
        
        General
        Does not mention
        the name of the
        commercial bank
        
        Special
        Mentioning a name of the
        commercial bank
        
        Endorsing
        Writing name of payee mentioned on
        the face of cheque,at the
        back of it by payee's own handwriting
        
        Advantages
        Easiness
        Safety
        Time saving
        Evidence of payment
        Legality
    - - Credit Card
        
        Up to a certain credit
        limit withdrawing money
        from ATM(certain limit)
        
        BOC- CeyBank Visa
        People's-People's Visa
        Sampath-MasterCard
      - Debit Card
        
        Withdraw money using
        bank A/C
        
        Sampath- SET
        People's- PET
        Commercial- CAT
        BOC- CEYNET
      - ATM card
        
        Facilities of depositing,
        withdrawing,transferring
        money by ATM
        
        Seylan- SMART
        People's- PET
        Sampath- SET
      - Advantages
        Instantaneity
        Automatically recorded information
        Ability to transact anytime
        
        Disadvantages
        Risk of data loss
        Electronic frauds
        Extra cost
  - - - As a form of investment
        As a collateral in obtaining loans
        If insured lives until policy matures,he can get
        insured value & other benefits.If not the
        named dependents can obtain that value
    - - Covers financial losses from risks
        Facilitates conducting business operations continuously
        Supports both domestic & foreign trade
- - - - Characteristics
        Purpose: Reselling
        Goods: Simple & Limited
        Price: Comparatively low
        Selling: With trade discounts
        Contact with consumer: Indirect
    - - Types of retailers
        
        Characteristics
        Purpose: Final Consumption
        Goods: Diverse & Unlimited
        Price: Comparatively higher
        Selling: At marked price
        Contact with consumer: Direct
        
        Small scale mobile
        Eg:Mobile retail stores on vehicles
        Peddlers
        
        Fixed small scale
        Eg:Groceries
        
        Fixed large scale
        Eg:Supermarkets