IIBF

FINANCIAL EDUCATION

LEARNING VAULT

Know Your Banking - School Children

A. Importance of savings and money

1. What is money? Who issues currency in our country?

2. What are the various denominations of currency notes available in our country?

B. Financial Planning

3. How can the goals of my life be achieved?

4. What is Financial Planning?

5. What is savings?

6. How do I save?

C. Different savings products

7. If I save, where do I keep the money saved?

8. What is a bank?

D. Different bank Instruments

9. If I want to send money to my brother studying in USA can I use the bank for that?

10. What is the difference between a cheque and draft?

11. Why is payment by cheque safer than payment by cash?

E. Opening a bank Account

12. I want to deposit money in a bank. How do I do it?

13. I have some money in the savings account. How do I withdraw it?

14. How to withdraw cash through cheque:

15. Filling in a cheque:

16. Tips on how to write the cheque and avoid fraud:

17. If a demand draft is lost, what is the remedy?

18. What is minimum balance and will a penalty be levied if the balance in my account falls below the minimum level?

19. Can an account be shifted to any branch located in a different place?

20. What is nomination and why it is important in the case of bank deposit?

21. What are the different charges collected in a savings bank account?

22. What is a self operated minor account? Who can open such account?

23. What is a pass book?

F. Internet Banking

24. What is internet banking?

25. What is the importance of secrecy of maintaining my password for internet banking and not disclosing it to anyone?

26. What happens when one forgets his/her password?

27. What is an Automated Teller Machine (ATM)?

28. Are ATM Banking facilities available 24 hours a day?

29. What is PIN?

30. Who can get an ATM card?

31. How much amount can one withdraw from an ATM at a time?

32. Can one make use of the online ATM network of various banks in the country for cash withdrawal?

G. Interest rates

33. What is the meaning interest rate?

34. Are there different interest rates and how are they calculated?

H. Introduction to bank loan account

35. What is a loan?

36. Can a bank lend me money?

37. How and when do I repay?

38. What is inflation?