loans

							Bank Services
                By: Brent Gordner
                  Business Class
                    10th grade




                        Click symbol to move one
     Investments    Savings           Checking
                                                           Retirement
                   Accounts           Accounts




          Car       Home             Home Equity            College
         Loans      Loans              Loans                 Loans

                   Click one of the above to learn more about each of them
Review question
       Facts About Investments
                  • Investments are not
                    deposits
                  • They are not FDIC
                    insured
                  • Can be very risky
                  • Types of investments are
                    stocks, bonds, mutual
                    funds, and government
                    securities
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           Savings Account Facts
                    • A safe place to put
                      money that is FDIC
                      Insured and earns
                      interest
                    • Sometimes requires a
                      minimum balance
                    • Interest rates vary from
                      bank to bank
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         Checking Account Facts
                   • An account that money
                     transactions take place
                     with use of checks and
                     bank cards
                   • Earns interest but less
                     then savings accounts
                   • Generally FDIC insured


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     Retirement Account Facts
                  • A savings account set
                    aside until you retire.
                  • Interest rates can’t
                    exceed 120% of the
                    federal midterm rate.
                  • Employers match the
                    amount you install from
                    each check.

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                  Car Loan Facts
                        • Loans are normally 3 to
                          5 years long
                        • Interest rates on
                          average are 5-8%
                        • Bank normally checks
                          value of car before
                          approving loan


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                  Home Loan Facts
                        • Interest rates can be
                          either variable rates or
                          fixed rates
                        • Interest rates depend
                          on current economy
                        • First time home buyers
                          some times qualify for
                          lower interest rates
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        Home Equity Loan Facts
                  • People use the equity
                    in their home as
                    collateral.
                  • Loans can be used for
                    about anything
                  • Interest is able to be
                    written off for income
                    taxes
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                  College Loan Facts
                          • Used to pay for college
                          • Interest can be either
                            subsidized or un-
                            subsidized
                          • Payment most generally
                            can be set for what you
                            can afford.


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             Review Question
Which loan can have either a fixed interest rate
  or a variable interest rate?

                      1. Car loan
                      2. Home Loan
                      3. Home equity loan
  Sorry, please select another answer.

                        Car loans only
                          have fixed
                        interest rates.
                        Please go back
                        and try again.


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Sorry, please select another answer.

                       Home equity
                     loans also only
                        have fixed
                      interest rates.
                     Please go back
                      and try again.
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                       Correct answer!!
                               • Home loans can have
                                 either fixed or
                                 variable interest
                                 rates!!




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Congratulations!
       • You have completed
         the lesson on bank
         services.




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