Bank and Loan Flashcards
a financial institution that serves as a financial intermediary
bank
bank :
- prints money
- supervise other banks
- provides banking facilities to the government
Central Bank
or
Bank of Thailand
bank :
a financial institution that recieves deposits from the general public and invests the money in order to earn money itself and pay interest to the depositors
commercial bank
the first commercial bank in Thailand
Siam Commercial Bank ( SCB )
bank : a financial institution that provides special services
special bank
a bank set up and run by the government. it is supervised by the Ministry of Finance
Government Savings Bank
a bank set up especially for farmers.it takes deposits and provide loan facilities to farmers in rural areas
Bank for Agriculture and
Agricultural Co-Operative
a bank set up by the government to help Thai people. it provides housing loans to the general public
Government Housing Bank ( G H Bank )
put or lend money to a bank ( into a bank account )
cash deposit
get or take our money back from the bank ( withdrawing of cash from a bank account )
cash withdrawal
the facility given by the creditor to the debtor whereby the debtor can use goods and services and pay for it later
credit ( eg. credit card )
money that we borrow from the bank. when we pay back, we have to pay the principal AND the interest within a certain period of time
loan
to borrow money from financial institutions. this loan system has clear rules and regulations according to the law
formal loan system
to borrow money from non-financial institutions . this kind of loan system usually has to pay extremely high interests, and the borrower sometimes cannot be able to pay back the loan to the lender in time
informal loan system
an agreement that is signed by the borrower and the lender. with this agreement, the lender can be sure that he/she will get his/her money back
loan agreement
