Personal banking

An amount of money borrowed from a bank for a certain length of time, usually for a specific purpose

• Loan

• Interest

• mortgage

• repossess

Something that acts as security or guarantee for a debt

• overdraft

• interest

• loan

• collateral

An arrangement to withdraw more money from a bank account than you have placed in it

• mortgage

• private pension plan

• overdraft

• repossess

A long-term loan to buy somewhere to live

• mortgage

• collateral

• private pension plan

• investment

An arrangement for saving money to give you an income when you stop working

• Private pension plan

• saving accounts

• credit card

Current account pay more interest than saving accounts.

• True

• False

There is less risk for a bank with a mortgage than with unsecured loans without collateral.

• False

• True

Traveller's cheques are safer for tourists than carrying foreign currency.

• True 

• False

The majority of customers prefer to do their personal banking at the bank.

• False

• True

Bank branches are now all in shopping centres.

• True

• False