Different Types Of Bank And Details Of Full Banks

In any country, the banks are the most regularized sector, and based on the products and services offered by the banks as well as, the market segment it caters; there are different types of banks present. And based on the products and services offered, a bank is called as full banks or any other type.

banking services Singapore.

Different types of banks are

  • Commercial banks

This the term normally used for a bank to differentiate it from an investment bank. Commercial banks are those that only engage in banking related activities, while the investment banks are those that limited to capital market activities.

  • Community development banks

These are the regulated banks that offer financial credit and services to under-served populations or markets. This comes in the category of full banks Singapore.

  • Private banks

This is bank of common individual. These banks manage the high-net-worth’s assets of individuals.

  • Saving banks also knows as full banks

This is the bank about which all of us know. Mostly, these banks are operated by the government to provide saving products to a large group of population on easy terms. The products of these banks include the saving account, loan, credit and insurance, etc.

  • Offshore banks

These are also the private banks, but have their presence out of the country. These banks used to have low regulation and taxation.

  • Postal saving banks

These are the saving banks that are associated with the postal system of the nation. It also offers a range of product to their customers.

In addition to these banks, there are many other types of banks present, such as Internet only banks, Ethical banks, Co-operative banks, land development banks, etc. Most of them are full banks.

In Singapore as well, these banks are present, and one can collect information about these banks from the business information book.