Question

What Are the Advantages of Commercial Banks?

Answer 1

The following are the advantages of commercial banks:

1. Location: Commercial banks are located in most of the locations.
2. Discounts: Commercial banks offer services to the customer at discounted rates.
3. Product offerings: Commercial banks offer more product offerings to the customers in the form of loans, credit cards, fixed deposits, recurring deposits, mutual funds etc.
4. Online banking: Commercial banks offer online banking facilities to the customers, which offers the convenience of availing most commonly used banking services using mobile app or desktop.

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Also see:

• Difference Between Central Bank and Commercial Bank
• MCQs on Commercial Banks
• Functions of Commercial Banks