Question No. 1:
Term: duration of product and services offered by Bank are known as Term.
There are two type of term in banking system are as follows:
Short term: short-term lending options are paid back over a period of months or as little as two years. Short-term business financing options are for smaller amounts. Because short-term financing is for smaller amounts, you pay them back more quickly at a higher interest rate and there’s a shorter approval process.
Long Term: long-term lending options are paid back over a number of years. Long-term financing options are for larger amounts. Long-term business financing options are for larger amounts, there’s a longer, more rigorous approval process and it takes more time to pay them back.
Demand Liabilities: Demand Liabilities are those liabilities which are to be paid as and when demanded. Example: deposit in saving and current accounts are demand liabilities. Bank has to pay then as and when demanded.
Question No 2: (Different Financing Facilities)
The different financing Facilities provide by the banking system are as follows:
Business Lines of Credit
Deferred payment plans
Lines of credit
Letters of credit
Swing line loans
Loan for Capital
Lone for Agriculture Production etc.
Question No 3: (Locker Facility)
Yes our bank is provided Locker facility to the customer to safe or secures their Documents’ and value able things.