Question

Define the term bank and different types of bank accounts ​

Answer 1

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heya user !

A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks.

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Answer 2

Term Bank

A bank which gives term loan is called a term bank.

Different types of bank accounts are:-

• Savings account
• Investment accounts
• Checking accounts
• Credits account
• Sales account