BNK601 GDB 1 Solution and Discussion

[zareen]

Total Marks 5
Starting Date Friday, November 15, 2019
Closing Date Thursday, November 21, 2019
Status Open
Question Title Banking Products & Services
Question Description

Discussion Question:

Suppose you are serving as customer services officer (CSO) in ABC bank limited. Mr.Aslam falls in the new to the bank category, and does not know about the banking products and services provided by ABC bank Limited. How you will explain him about the following products and services?

Term and demand liabilities offered by your bank and how they are different from each other?
Discuss different financing facilities offered by the bank, how they are different from each other in terms of type and type of collateral or security for that loan.
Locker Facility offered by your bank .

You are also required to discuss the banker customer relationship in each above case as per Banking Laws.

You are encouraged to visit nearby bank branch, and furnish your answer after consulting with practicing bankers instead of giving copied/irrelevant/obnoxious details.

IMPORTANT INSTRUCTIONS

Keep your discussion relevant as irrelevant answers will not be graded.
Answers copied from blogs, other students, websites etc. will be straight away marked as zero.
No grace day or extra time will be given for posting comments on GDB.

Best of Luck!

[zaasmi]

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
Overdraft Services
Deferred payment plans
Lines of credit
Revolving credit
Term loans
Letters of credit
Swing line loans
Business lone
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.

[zareen]

ABC bank provides current deposits, savings account , fixed term deposits. Our bank grants better interests rates, Our bank offers different financing facilities which caters to large consumer base. We have personal finance options catered for personal needs such as personal loans, loans against cash, auto loans and collateral.These loans are geared towards private customers and consumers. We have business financing options We have Credit Finance and Trade finance.

ABC bank limited provides safe and secure locker facility. If you have any valuables that are valuable and you need a secure place then we provide higly secure saftey deposit box. This facility is only available to ABC bank privileged customers. You need to have privilege bank account with our bank. We have locker facility in 3 different shapes and sizes. The locker can only be opened by you but there is an option to allow a second person to access safe deposit box with power of attorney.

[zareen]

1)The walk in customer are visit in the branch and then the customer services officer are tell about the information of the banks they are tell all the product because the CSO are know the market and the they are tell all the information and then they are tell all the product there are different types of accounts in the banks

Types of Deposits

Savings Bank Account.
Current Deposit Account.
Fixed Deposit Account.
Recurring Deposit Account

1. CSO are tell the different financing facilities offered by the bank and then they are tell the different type of collateral or security for that loan

   Long-Term Loans. One of the most common types of loans distributed by large commercial lenders. …
   Short-Term Loans
   Lines of Credit.
   Alternative Financing

And then they are tell the different types of laons you are availed easily loan in the bank

Conventional Loans
Conforming Loans
Non-Conforming Loan
Secured Loans
Unsecured Loans
Open-ended Loans
Close-ended Loans

1. The customer are capured ad then they are open the account in the banks and then the CSO are try the customer are opened the locker in the bank and then they are tell all the information to the customer and then they are tell the locker are easily given and then the customer are taken the locker to the banks

“Safe Deposit Lockers”

For the safety of your valuables, our locker facility offers a safe, trustworthy space to store them. There is a nominal annual rent (payable in advance), which depends upon the size of the locker and the centre at which the branch is located.

The Bank`s Safe Deposit (Locker) Service is made available to those customers who maintain a Savings/Current Account (individually or jointly). However, Lockers are not leased out to minors. Lockers can be leased out to Blind person also.
Locker facility is provided by the Bank at its select branches.
Allotment of lockers is on first-come-first served basis.
At the time of hiring the locker, bank will obtain a minimum security deposit in the form of FDR from the lessee which will be decided by the bank from time to time.
The locker will be operated during the specified timing displayed at the branches