Financial institution

Necolle mar C. Gamayon

Financial

Institution

Savings Accounts•Are accounts maintained by retail:

• Financial Institution

• That pay interest but cannot be used directly as

money. (For example, by writing a

cheque). These accounts let customers set

aside a portion of their liquid assets while

earning a monetary return.

Checking Accounts

• The terms of a checking account may vary from

bank to bank, but in general a checking account

holder can use personal checks in place of cash to

pay debts.

• He or she can also use electronic debit cards or

ATM cards to access individual accounts or make

cash withdrawals.

Mortgages•Mortgage loan• A loan secured by a mortgage on real property.•Mortgage• A security interest on real property granted to a lender as in Mortgage law.

• The mortgage document (deed)•Hypothec

Certificates Of Deposit

•A Certificate of Deposit or CD is :

•Time deposit

•A financial product commonly offered to

consumers by:

• Banks

• thrift institution

• credits union