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.
