Banks are state or federally chartered for-profit financial institution that offers commercial and consumer loans and other financial services. Many banks offer savings accounts and checking products in addition to loans and credit cards. With banks, you typically do the following:

• Deposit cash instead of stashing it under the mattress
• Earn interest and grow savings
• Deposit your paycheck electronically
• Pay bills
• Track  spending and manage finances
• Establish credit
• Have access to mortgage loans, car loans, and other products

Additionally, banks offer customer’s the following services:

• Branch access
• Debit cards and ATM access
• Telephone, online, and mobile banking

There are many types of loans offered by banks such as:

• Auto Loans
• Personal Loans
• Home Loans (Mortgages)
• Home Equity Loans
• Construction Loans
• Debt Consolidation Loans
• Student Loans
• Business Loans
• Payday Loans

Learn more about Banking Basics.

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