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Retail Banking Products
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Checking Account
A deposit account for daily transactions and bills payment. Typically comes with a debit card and checks.
Savings Account
An interest-bearing deposit account used for saving money. Offers lower interest rates but higher accessibility compared to other savings products.
Certificate of Deposit (CD)
A time deposit account with a fixed interest rate and maturity date, offering higher interest rates than savings accounts for funds you can set aside.
Money Market Account
A savings account with typically higher interest rates, minimum balance requirements, and limited transaction capabilities.
Retirement Account (IRA)
An account specially designed for retirement savings, offering tax advantages for investments in securities, and funds.
Mortgage Loan
A long-term loan used to purchase property, secured by the collateral of the said property.
Home Equity Loan
A type of loan in which the borrower uses the equity of their home as collateral, often used for major expenses like home renovations or education.
Personal Loan
An unsecured loan given to individuals on the basis of creditworthiness, often used for personal expenses or debt consolidation.
Credit Card
A revolving credit line with a set limit, used for purchases or cash advances and requires monthly payments.
Debit Card
A payment card that deducts money directly from a consumer's checking account to pay for a purchase, also allows ATM cash withdrawals.
Business Loan
A loan specifically intended for business purposes, whether for startup capital, expansion, or equipment purchases.
Student Loan
A loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books, and living expenses.
Overdraft Protection
A banking service that covers transactions exceeding the account balance, preventing declined transactions or bounced checks for a fee.
Auto Loan
A secured loan used to purchase a vehicle, the car itself often serves as collateral for the loan.
Safe Deposit Box
A secure storage box located within a bank used to store valuable items, documents, or records.
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