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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1320 |
Essay's paper body
Accounts of this type are used mainly for long-term saving.
Types of Bank Loan
? An overdraft is when the bank allows a customer to take out more money than is in his account. Overdrafts are up to an agreed limit, and must be paid off whenever the bank asks. Interest is charged daily on any outstanding balance...
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Interest is charged daily on any outstanding balance.
? A loan account is when a customer borrows a fixed sum of money to be repaid in monthly instalments over a number of years. A fixed rate of interest is charged.
Methods of Payment
These include:
? Cheques when the bank is ordered to pay money to someone else...
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