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Banking
March 15, 2026
Banking
Banking is the business of accepting deposits, making loans, and providing financial services that form the backbone of a modern economy.
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Banking
Bite-sized reads · 131 inshorts
InShort
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Banking
March 15, 2026
Savings Account
A savings account is a basic bank account that lets you deposit money, earn interest, and withdraw funds while encouraging regular saving habits.
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Banking
March 15, 2026
Current Account
A current account is a bank account designed for businesses and professionals with high transaction volumes, offering unlimited transactions but typically no interest.
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Banking
March 15, 2026
Loan
A loan is a sum of money borrowed from a bank or financial institution that must be repaid with interest over an agreed period.
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Banking
March 15, 2026
Fixed Deposit
A fixed deposit is a savings instrument where you lock in a lump sum for a predetermined period and earn a guaranteed fixed interest rate.
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Banking
March 15, 2026
Credit Card
A credit card lets you borrow money from the issuing bank to make purchases now and repay later, with interest charged on unpaid balances.
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Banking
March 15, 2026
Debit Card
A debit card lets you make purchases and withdrawals by directly deducting money from your linked bank account in real time.
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Banking
March 15, 2026
Mortgage
A mortgage is a long-term loan specifically for purchasing real estate, where the property itself serves as collateral for the loan.
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Banking
March 15, 2026
Interest Rate
An interest rate is the percentage charged by a lender for borrowing money or paid by a bank for holding deposits, expressed as an annual percentage.
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Banking
March 15, 2026
Overdraft
An overdraft allows you to withdraw more money than you have in your bank account, up to an approved limit, essentially borrowing from the bank.
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Banking
March 15, 2026
Cheque
A cheque is a written document ordering a bank to pay a specific amount from the drawer's account to the person or entity named on it.
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Banking
March 15, 2026
NEFT
NEFT (National Electronic Funds Transfer) is a nationwide electronic payment system for transferring funds between banks in half-hourly settlement batches.
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Banking
March 15, 2026
RTGS
RTGS (Real Time Gross Settlement) is a fund transfer system for high-value transactions that settles payments individually and instantly.
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Banking
March 15, 2026
IMPS
IMPS (Immediate Payment Service) is a real-time interbank electronic fund transfer system available 24/7 including holidays.
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Banking
March 15, 2026
Net Banking
Net banking (internet banking) allows customers to conduct banking transactions online through a bank's secure website using a computer or device.
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Banking
March 15, 2026
Mobile Banking
Mobile banking lets you access banking services through a smartphone app, enabling transactions, payments, and account management on the go.
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Banking
March 15, 2026
Bank Statement
A bank statement is an official document issued by a bank summarizing all transactions in an account over a specific period.
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Banking
March 15, 2026
Collateral
Collateral is an asset pledged by a borrower to a lender as security for a loan, which the lender can seize if the borrower defaults.
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Banking
March 15, 2026
EMI
EMI (Equated Monthly Installment) is a fixed monthly payment that combines both principal and interest, used to repay loans over a set period.
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Banking
March 15, 2026
Repo Rate
The repo rate is the interest rate at which the central bank lends short-term money to commercial banks against government securities as collateral.
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Banking
March 15, 2026
SWIFT Code
A SWIFT code is a unique identification code for banks used in international wire transfers to ensure money reaches the correct institution.
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Banking
March 15, 2026
ATM
An ATM (Automated Teller Machine) is an electronic banking machine that allows customers to perform basic transactions like withdrawals without visiting a branch.
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Banking
March 15, 2026
Bank Draft
A bank draft is a payment instrument issued by a bank guaranteeing the specified amount, making it more secure than a personal check.
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Banking
March 15, 2026
Net Asset Value
Net asset value is the per-unit market value of a mutual fund, calculated by dividing total assets minus liabilities by the number of outstanding units.
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