🏦 Banking Products and Services Quiz for IBPS Banking Exams

Test your knowledge about various banking products, services, and financial instruments offered by banks. This quiz covers deposit accounts, loan products, cards, and other banking services.

🎯 Quiz Overview

Quiz Details

• Total Questions: 20
• Time Allotted: 15 minutes
• Difficulty Level: Medium
• Topics Covered: Banking products, financial services, digital banking

Key Topics

• Deposit accounts and types
• Loan products and terms
• Cards and payment systems
• Digital banking services
• Investment products
• Insurance services

📝 Start the Quiz

📚 Study Material for Banking Products

Deposit Products

Savings Account

• Purpose: Safekeeping of funds with interest
• Interest Rate: 3-4% per annum
• Minimum Balance: Varies by bank type
• Features: ATM card, mobile banking, passbook
• Types: Regular savings, zero balance, senior citizen

Current Account

• Purpose: Business transactions
• Interest Rate: No interest paid
• Minimum Balance: Higher requirement
• Features: Overdraft facility, multiple withdrawals
• Usage: Businessmen, companies, institutions

Fixed Deposit (FD)

• Purpose: Fixed period investment
• Interest Rate: Higher than savings (6-8%)
• Tenure: 7 days to 10 years
• Features: Fixed returns, loan against FD
• Types: Regular, senior citizen, tax-saving

Recurring Deposit (RD)

• Purpose: Regular monthly savings
• Interest Rate: Similar to FD
• Tenure: 6 months to 10 years
• Features: Regular deposits, fixed returns
• Benefits: Disciplined savings

Loan Products

Personal Loan

• Purpose: Personal expenses
• Interest Rate: 10-18% per annum
• Tenure: 1-7 years
• Security: Usually unsecured
• Usage: Medical, education, travel

Home Loan

• Purpose: Purchase/construct house
• Interest Rate: 6.5-9% per annum
• Tenure: Up to 30 years
• Security: Property as collateral
• Benefits: Tax deduction on interest

Education Loan

• Purpose: Higher education expenses
• Interest Rate: 8-12% per annum
• Tenure: 10-15 years
• Security: Co-obligation of parents/guardian
• Features: Moratorium period

Car Loan

• Purpose: Purchase of vehicle
• Interest Rate: 7-12% per annum
• Tenure: 1-7 years
• Security: Vehicle as collateral
• Features: Quick approval

Card Products

Debit Card

• Linked to: Savings/Current account
• Usage: ATM withdrawals, purchases
• Limit: Account balance
• Features: Contactless payments
• Security: PIN, OTP

Credit Card

• Credit Limit: Based on income and credit score
• Usage: Purchases, bill payments
• Features: Reward points, cashback
• Interest: High if not paid on time
• Benefits: Interest-free period

Prepaid Card

• Pre-loaded amount: Fixed balance
• Usage: Similar to debit card
• Features: No bank account required
• Security: Limited risk
• Types: Gift cards, travel cards

Digital Banking Services

Internet Banking

• Features: Fund transfer, bill payment, booking
• Security: Two-factor authentication
• Benefits: 24/7 access
• Services: Account management, investments

Mobile Banking

• Platform: Mobile apps
• Features: UPI, mobile recharges
• Security: Biometric, PIN
• Benefits: Convenience, instant transactions

UPI (Unified Payments Interface)

• Platform: Mobile-based payment system
• Features: Instant fund transfer
• Limit: Up to ₹1 lakh per transaction
• Benefits: No need for account details

🔗 Related Resources

• Banking Awareness Complete Guide
• RBI Functions Quiz
• Digital Banking Quiz
• Mock Test Series

Ready to test your knowledge of banking products? Click the Start Quiz button above! 🏦

Last Updated: December 2024 | Questions Updated Regularly | Aligned with IBPS Exam Pattern