Introduction To Financial Institutions And Banking Services

Free Download What you'll learn
Understand the different types/structures of financial services firms
Determine the different types of banking services that are provided
Understand who the customers are for each type of service
Learn how a bank makes money
Differentiate the various banking career paths
Requirements
Graduates and MBA students who have specialization in Commerce and Finance
Description
What is financial institutions in banking?A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.What is Banking and their key services Banks are financial institutions that perform deposit and lending functions. There are various types of banks in India and each is responsible to perform different functions.At its most basic level, a bank is a place to safely keep your money. But beyond the basics, banks usually offer a wide range of products and services designed to make managing your money a bit easier.From car loans to credit cards, there are plenty of banking services you may need at different stages of life. And with digital options, you can access many of them right from your phone or laptop. Below is a review of financial topics that may help you learn banking basics. There's also a glossary of terms at the end.The products and services Banks offer are Checking AccountsAn account at a financial institution that allows for withdrawals and deposits. Great for paying bills and keeping track of spending.Savings AccountsA deposit account held at a bank or other financial institution that safeguards funds and provides a modest interest rate. Great for building emergency savings or saving for short or medium term goal.Money Market AccountsLow transaction checking accounts that offer a higher interest rate in exchange for a higher minimum balance requirement. Can be good for building emergency savings or paying for occasional expenses.Certificates of DepositSavings accounts that offer a higher interest rate in exchange for committing your money for a set period of time (six months, 12 months, etc.).MortgagesLoans to purchase a home where the collateral is the home itself.Home Equity LoansLoans offered to homeowners where the loan amount is capped at a percentage of the equity that the owner has on the home.Auto LoansLoans used to finance the purchase of an automobile. It is usually unsecured and based on the borrower's integrity and ability to pay. The collateral is the vehicle.Personal LoansUnsecured loans offered to bank customers.Credit CardsUnsecured, revolving loans that comes with a card and is primarily used for purchases, though some also provide cash advances. The credit card issuer sets a maximum limit that can be charged. Borrowers make monthly payments on the amount charged to the account, as well as on the interest that is charged by the issuer. When payments are made, those funds become available for borrowing again.Debit CardsCards issued in association with checking or savings accounts that allow point-of-sale purchases that are then deducted from bank balances and ATM withdrawals.ATM CardsCards issued in association with checking or savings accounts that allow cash deposits and withdrawals at Automatic Teller Machines (ATM) but not point-of sale purchases.Cashier's ChecksChecks written by banks that verify that the bank customer has sufficient funds to cover the check. These checks are guaranteed by the bank or credit union. A cashier's check may be required for closing costs in a home purchase, for example.Money OrdersDocuments written against other accounts or bought with cash, which provide a receipt and are converted to cash by the recipient. Often used to pay bills when someone does not have a checking account.Traveler's ChecksChecks written against an account or bought with cash that are made valid when completed with the payee's name and signed by the owner. Less commonly used now.Wire TransfersA way to move money from one person to another. Often used to send money internationally.Foreign Currency ExchangeConverting one country's currency to another's.Safe Deposit BoxesA box located at a bank for use for personal possessions that can only be accessed with the assistance of bank personnel by lock and key.In this Course learnTypes of Financial InstitutionsBanking Services IntroductionHow Banks makes moneyBanking Career paths
Overview
Section 1: Introduction to Financial Institutions
Lecture 1 Types of Financial Institutions
Section 2: Introduction to Banking Services
Lecture 2 Types of Banking Services
Section 3: How Bank Makes Money
Lecture 3 How Bank Makes Money
Section 4: 4. Banking Products and Services
Lecture 4 Types of Banking Products and Services
Section 5: Banking Career
Lecture 5 Various Banking Jobs
This Introduction to Banking course is perfect for any aspiring credit analysts working in insurance, underwriting, rating agencies, commercial lending, corporate credit analysis, and other areas of credit evaluation. It is also a great introductory course for anyone who would like to learn more about the banking industry.


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