Business: Banking
Presentation
•
Business
•
7th Grade
•
Medium
Aainaa Kamran
Used 8+ times
FREE Resource
17 Slides • 18 Questions
1
Business: Banking
Notes by Tcr Apiza
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What is bank?
A place which helps to deal with money
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Why is it important to traders?
Because it helps traders to make payment and collect money efficiently and safely
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Who is a trader?
A person who either buys goods and resells them
5
Main services of commercial banks:
1. Deposit and withdrawal of money
2. Providing loans
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Deposit and Withdrawal
Deposit- a sum of money paid into a bank account.
Withdrawal- an act of taking money out of a bank account.
7
Loan and Interest
Loan- a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
Interest- the monetary charge for the privilege of borrowing money
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Main services of commercial banks:
3. Issuing bank draft (a cheque drawn by a bank on its own funds) or travellers’ cheques
4. Provide safe custody (protection/care) for valuable and documents
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Main services of commercial banks:
5. Making regular payments for consumers
6. Provide automatic teller machines (ATM)
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Main services of commercial banks:
7. Night safe facilities
8. Providing internet banking
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3 types of Bank Accounts
Saving Account
Fixed Deposit Account
Current Account
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What is Saving Account?
A basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.
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What is Saving Account?
A person who deposits/keeps the money in the bank is called Depositors
Depositors will earn small interest
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What is Saving Account?
A book that contains details of depositor’s transactions with the bank is called Passbook [Nowdays banks do not use passbooks anymore]
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What is Saving Account?
Depositor can withdraw money through:
i. passbook (now no more)
ii. ATM card
iii. officer at the counter
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Advantages of Saving Account
1) Money is kept safely
2) Earns interest
3) Can withdraw anytime
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Disadvantages of Saving Account
1) Lower interest compared to fixed deposit account
2) Cannot issue cheque
3) No overdraft facility (enables you to withdraw money from your bank account (savings or current), even if you do not have any account balance.)
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Multiple Choice
What is bank?
A place to keep shelter animals
A place to support sick people
A place that helps to deal with money
A place that helps homeless people
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Multiple Choice
Bank is important to who?
Animals
Ships
Traders
Trading
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Multiple Choice
Who is a trader?
A person who either buys goods and resells them
A place where either buys goods and selling items take place
A person who neither buy goods and resells them
A person who either steal goods and resell them
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Multiple Choice
Why is it important for traders?
it helps traders to make payment and collect money efficiently and safely
it helps traders to make friends and collect loan efficiently and safely
it helps traders to trade items and collect items efficiently and safely
it helps traders to make donations and collect money efficiently and safely
22
Multiple Choice
What is loan in business?
a sum of money paid into a bank account.
an act of taking money out of a bank account.
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
the monetary charge for the privilege of borrowing money
23
Multiple Choice
What is deposit in business?
a sum of money paid into a bank account.
an act of taking money out of a bank account.
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
the monetary charge for the privilege of borrowing money
24
Multiple Choice
What is interest in business?
a sum of money paid into a bank account.
an act of taking money out of a bank account.
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
the monetary charge for the privilege of borrowing money
25
Multiple Choice
What is withdrawal/issue in business?
a sum of money paid into a bank account.
an act of taking money out of a bank account.
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
the monetary charge for the privilege of borrowing money
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Multiple Choice
Select the incorrect answer for the service that commercial banks provide
Deposit and withdrawal of money
Providing loans
Issue bank overdraft
Forging documents
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
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Multiple Choice
What is saving account?
A basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.
A basic type of bank account that do not allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.
A basic type of bank account that allows you to steal money, keep it safe, and withdraw funds, all while earning interest.
A basic type of bank account that allows you to deposit money, keep it unsafe, and withdraw funds, all while earning interest.
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
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Fill in the Blanks
Type answer...
Business: Banking
Notes by Tcr Apiza
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