In addition to deposit products like checking and savings accounts, commercial banks offer merchant services, commercial loans, global trade services, treasury services, and other corporate-oriented products.
Payment processing is an example of a commercial banking service.
What is commercial bank function?
Answer: The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc.
Which banks are commercial banks?
Public Sector Banks
|State Bank of India||Bank of India||Allahabad Bank|
|Corporation Bank||Andhra Bank||UCO Bank|
|Bank of Baroda||Union Bank of India||United Bank of India|
|Vijaya Bank||Dena Bank||Indian Bank|
|Oriental Bank of Commerce||Central Bank of India|
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What are examples of non commercial banks in South Africa?
These banks do not aim at making profits from their customers.
These banks include the following:
- Absa Bank Ltd.
- African Bank Ltd.
- BoE Private Clients.
- Bidvest Bank Limited.
- Capitec Bank Ltd.
What is commercial bank and its types of deposits?
First Published: April 23, 2011 | Last Updated:June 28, 2017. Banks are called custodians of public money and mobilization of the deposits from the public is the most important function of the commercial banks. Mainly, there are two types of deposits viz. Time Deposits and Demand Deposits.