financial literacy: what these mean

Cheque Accounts: Transactional accounts that provide easy access to funds for everyday expenses through checks, debit cards, and online banking.

Savings Accounts: Basic savings accounts allow customers to deposit and grow their money while earning interest.

Fixed Deposit Accounts: Accounts that offer higher interest rates for a fixed term, encouraging customers to save for a specified period without withdrawing funds.

Credit Cards: Cards that allow customers to make purchases on credit and pay off the balance over time or in full.

Personal Loans: Unsecured loans that individuals can borrow for personal use, usually repaid with interest in instalments.

Home Loans/Mortgages: Loans for purchasing residential properties, with repayment options spread over many years.

Vehicle Finance: Loans for purchasing cars, motorcycles, or other vehicles.

Investment Accounts: Accounts for investing in various financial products, such as stocks, bonds, and mutual funds.

Insurance Products: Various insurance offerings, including life insurance, health insurance, car insurance, and home insurance.

Retirement Annuities: Long-term savings products designed to provide income during retirement.

Internet Banking: Online platforms that allow customers to manage their accounts, make transfers, and perform various banking activities.

ATM Services: Cash withdrawals, deposits, and other transactions available at automated teller machines.