Banks (Role of a bank in our society)

1. What is a bank?

• 1. A store that sells books

• 1. A place where people save and borrow money

1. What is the importance of a bank?

• To offer a service for people who wish to save, protect and transfer money

  
  

• To provide entertainment

  
  

1. What is a Savings Account?

• 1. A type of bank account where people can save their money.

  
  

• To provide entertainment

  
  A type of bank account where people can buy groceries.

  
  

1. What is the purpose of a savings account?

•  To save money for future use

  
  

•  To borrow money from the bank

  
  

What is a loan?

• Money that a bank takes from people. 

  
  

• Money that a bank lends to people to buy things like a house or a car.

  
  

What is a deposit?

• Money that is put into a bank account

  
  

• Money that is taken out of a bank account

…………………. Card allows you to purchase items now and pay for them later.

•  Debit card

•  Credit card

What is online banking?

• A type of bank that pays your medical bills.

  
  

• A service that allows you to pay online for buying goods and services

What is a withdrawal?

• When people hide their money at home.

  
  

• When people take their money out of the bank.

….............. card allows you to purchase using money from your bank account.

• Debit card

• Credit card