What is a rural bank? is it the same as a universal bank?what's the difference between a commercial bank, a savings bank, a mortgage bank, a universal bank and a rural bank? | |
What is a rural bank? is it the same as a universal bank?what's the difference between a commercial bank, a savings bank, a mortgage bank, a universal bank and a rural bank? | |
A commercial bank takes deposits for checking and savings accounts from consumers; gives loans, while an investment bank does not.
The federal government provides insurance guarantees on these deposits through the Federal Deposit Insurance Corporation (the FDIC), on amounts up to $100,000.
A savings-and-loan association primarily accepts deposits from consumers and makes mortgage loans.
A mortgage bank is a state-licensed banking entity that specializes in originating or servicing mortgage loans directly to consumers.
A universal bank is a full service bank that participate in all kinds of banking activities. It is a bank that is both a Commercial bank and an Investment bank.
A rural bank is a financial institution that helps rationalize the developing regions or developing country to finance their needs specially the projects regarding agricultural progress.