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WorksheetsBanking: Lending money to business
Total questions: 10
Worksheet time: 5mins
How do banks lend their money to businesses?
Bank overdraft and Bank loan
Credit and Debit Card
Winning Cash Prizes
Through donations
What does an overdraft mean?
A thing that is borrowed, especially a sum of money
that is expected to be paid back with interest.
A place that helps to deal with money
A sum of money paid into a bank account.
taking out more money than is in your account.
What does a bank loan mean?
A thing that is borrowed from a bank, especially a sum of money
that is expected to be paid back with interest.
A place that helps to deal with money
A sum of money paid into a bank account.
taking out more money than is in your account.
Bank overdraft has a shorter period and bank loan has a long period
True
False
Bank overdraft has a higher interest rate than a bank loan
True
False
Which bank charged their interest based on daily outstanding balance?
Bank Overdraft
Bank Loan
Which bank charged interest for annum/yearly for the entire loan?
Bank Overdraft
Bank Loan
The borrower must be the holder of a current account
Bank Overdraft
Bank Loan
The borrower does not need to be a customer of the bank, as long security is provided
Bank Overdraft
Bank Loan
The borrower may need to provide various forms of security
Bank Overdraft
Bank Loan
