Know All About Personal Banking

By Author: Shilpika Ponnappa
Total Articles: 428
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Banking is known as the financial institution providing all kinds of facilities guiding an individual or an organization to help them have a well planned future. These institutions secure their assets and help it multiply too so as to be bought to an appropriate use during need.

Since emergencies can come knocking at any time, anyone and everyone would seek the help of the banks during the need and varied facilities are available for the required need. There is listed assistance for individual personal need as well as for business men for smooth running of their business. Private banking is for personal use, when one needs assistance to have an individual or joint account in the bank or if he needs any kind of loan or different kinds of investments he would want to indulge in and it provides all possible kinds of conveniences that he can utilize for banking.

Personal banking allows one to have an account in different account types such as - savings bank account and current account. They can even make deposits accordingly in different account types such as term deposits and can even deposit cash in their savings ...
... account or current accounts too. Every individual is even provided safe deposit lockers, for them to keep any important documents or cash safely in it and these lockers can be operated by only them as they would have a key and the other key would be with the bank allowing the customer to use the locker only when opened by using both the keys and it can be operated with the guidance of an official from the bank.

An individual having an account in any bank would be provided credit cards and debit cards which they can swipe in any of the ATM’s for instant cash. Nearly everyone, from students to retired people use credit cards. Services given by the credit cards are conformity between you and the financial institute which is providing you a card that institution allows to you to have a loan of quick money. And you agree to pay the money back to them. But one who owns a debit card can only withdraw cash from his/her savings account only, eventually leading to decrease in the amount in their account.

One is eligible to make investments in mutual funds and pension systems and even insurance while personal banking. By having an account in a bank and by being a customer of private banking one would be privileged to apply for different kinds of loans for personal needs like – home loans, personal loans, vehicle loans, furniture loans and can even transfer their balance of their home loan on someone else’s account. This particular banking make it convenient for the customer and even the bank to approach each other and inform about the new schemes and benefits through mobile banking, short message service banking and even net banking. Special benefits and offers are also provided to permanent customers as well as to the newer ones.

Shilpika Ponnappa,
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