Banking Exam Question - What is Banking Product & Services? Explain the Types of Banking Products

Introduction - List of Banking Product & Services

For the customer's needs and satisfaction, various types of services and facilities provided by any bank and financial institutions are called banking goods and services. The other word can be called the banking item for the types of services that can be able to meet the financial requirements of the customers and all types of services provided by financial institutions. According to Philip Cotler - "Product is anything that can be offered to someone to states by a need or want." The following are Banking items and services:

1) Deposit Related Banking Products related to deposits

• Current account
• Savings account
• Fixed Deposit Account
• Call Deposit
• Margin call
• Other

2) Related banking related goods and services (Loan Related Banking Products)

• Agricultural power
• Housing loan
• Industry debt
• Business loan
• Gold loan
• Bank Guarantee
• Consumer debt
• OD loan
• Simple Credit
• Letter of Credit (LC)

Non-Funded Business

• Safe Deposit Locker
• Foreign exchange
• ABBS
• Remittance
• Draft
• ATM
• Customer bills
• International Card (VISA, Master Card Services)