How can you use your bank account efficiently?

your bank account

Level - BASIC

The basic bank account is the first financial product for most people. Watch this video to know more about choosing the right bank and maximizing the facilities available to account holders.

AUTHOR(S): Uma Shashikant

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Your Bank Account

 The basic bank account is the first financial product for most people. Watch this video to know more about choosing the right bank and maximizing the facilities available to account holders.

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    1.Which of the following is NOT a benefit of having one main bank account?



  • Getting loans and Overdraft facility
  • Bank goes down all assets go down
  • To obtain Visas
  • 2.What is the modern and convenient way to operate a bank account?



  • Internet banking and ATM cards
  • Branch visits
  • Cheque books & Pass books
  • 3.How does the bank decide what category of client you belong to and what service to provide you



  • By account balance that you maintain
  • By the services you avail
  • By the number of transactions you make
  • 4.What are the parameters to look out for in a bank before opening an account with them?



  • Proximity to your house and approachable staff
  • Flexibility, bank is okay with missing documents as long as you start depositing money immediately
  • Loan book & NPAs
  • 5.What information does the ownership details give us about the bank?



  • Its Loan book
  • Ability to bring capital and support banking operations
  • The non performing assets
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