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CHAPTER 8 : BANKING PRODUCT AND SERVICES - Coggle Diagram
CHAPTER 8 : BANKING PRODUCT AND SERVICES
Deposits
Savings account
Joint
Trustee
Individual
Current account
Individuals
Companies
Joint
Sole proprietors
Partnerships
Fixed deposit account
Negotiable instruments of deposits (NIDs)
SNCDs
LNCDs
ZNCDs
FRNCDs
Remittances
Method
Telegraphic transfer
Online transfer
Demand draft
Standing instruction
Cashier’s order
Sum of money sent in payment for something or it is the transfer of funds done in a banking system
Credit facilities
Term loan
A loan with a regular repayment date
Housing loan
A loan to finance the purchase a house
Overdraft
facility operated through a current account & it is short term financing.
Personal loan
A loan given to individual above 18 years old
Specialized financial services
Leasing
Operating lease
Sales&leaseback
Financial/capital lease
Factoring
Parties involved
Factoring company
Seller’s client
Factor’s customer/seller
Bank discounting
Motorcycles
Consumer durables
Motor vehicles
Bridging loan & end financing
Capital
Condition
Capability
Collectivity
Capacity
Collateral
Character
Hire purchase
The hirer’s obligations
The owner’s right
The hirer’s rights