What are the various products offered by banks?

Question

Accepted Answer

Banks offer a variety of financial products including savings accounts, loans, credit cards, and investment services.

Savings Accounts: Safe place to deposit money with interest, e.g., regular savings account.
Current Accounts: For daily transactions, often used by businesses, e.g., business checking account.
Loans: Personal loans, home loans, and auto loans to finance purchases, e.g., mortgage loans.
Credit Cards: Allow borrowing up to a limit for purchases, e.g., Visa or MasterCard.
Investment Products: Mutual funds, stocks, and bonds for wealth growth, e.g., retirement accounts.
Insurance Products: Life, health, and property insurance offered by banks, e.g., term life insurance.
Foreign Exchange Services: Currency exchange for travel or business, e.g., forex trading.
Wealth Management: Financial advisory services for high-net-worth individuals, e.g., portfolio management.

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