Question

5 difference between private and nationalised banks

Answer 1

Answer:

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1. A Nationalized bank is one that is owned by the government of the country.

2. The government is responsible for the money deposited into the accounts of these banks.

3. A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals.

4. Private bank have faster processing, good customer care but high interest rates and charges.

5. Public banks offer low processing fees, faster reduction in interest rate with RBI REPO rate reduction, no pre-payment charges and no pre-payment period restriction.

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