81⟩ What is ATM banking (Automated Teller Machine)?
It is an electronic banking outlet, which allows customers to complete basic transaction.
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It is an electronic banking outlet, which allows customers to complete basic transaction.
The repayment of the loan by instalment to cover principal amount with interest is known as 'Amortization'.
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When repayment of the loan is less than the loans accumulated interest, then negative Amortization occurs. It will increase the loan amount instead of decreasing it. It is also known as 'deferred interest'.
Any deposit that is held by one bank for another bank is known as inter-bank deposit. The bank for which the deposit is being held is referred as the correspondent bank.
Corporate banking deals with cash management, underwriting, financing and issuing of stocks and bonds
A person who signs a note to guarantee the payment of the loan on behalf of the main loan applicant's is known as co-maker or co-signer.
It is a small to mid-sized branch that directly deals with consumer's transaction rather than corporate or other banks
The database collects all the information and keeps the track about the customers who borrows the money.
When a loan is charged with high interest rate illegally then it is referred as 'Usury'. Usury rates are generally set by State Law.
This type of Loan is offered to borrower to start their business and can be used to build a storefront, to acquire inventory or pay franchise fees to get a business rolling.
You can access the account as the saving account but, unlike saving account, you cannot earn interest on this account. The benefit of this account is that there is no limit for withdrawal.