Personal Banking: Products and Services
Understanding banking options for personal financial management Year 13 Business Studies New Zealand Curriculum
What Do You Know About Banking?
What banking services have you used? What factors influence your choice of bank? How do you currently manage your money?
Types of Bank Accounts
Everyday/Transaction accounts for daily spending Savings accounts for building wealth Term deposits for fixed returns Credit facilities for borrowing needs
Everyday vs Savings Accounts
{"left":"High accessibility for daily transactions\nDebit card and EFTPOS access\nLower or no interest rates\nMonthly account fees may apply","right":"Higher interest rates to grow money\nLimited transactions per month\nDesigned for building savings goals\nOften linked to everyday accounts"}
Understanding Interest Rates
Interest earned on savings accounts Compound interest grows your money over time Variable vs fixed interest rates Compare rates between different banks
Banking Comparison Activity
Research three major NZ banks Compare account fees and interest rates Identify best account for a student budget Present findings to the class
Digital Banking Services
Internet banking for 24/7 access Mobile apps for on-the-go banking Automatic payments and direct debits Contactless and mobile payments
Credit Products and Lending
Personal loans for major purchases Credit cards for flexible borrowing Overdraft protection for account holders Understanding interest rates and fees
Financial Wisdom
"A budget is telling your money where to go instead of wondering where it went." - Dave Ramsey
Making Smart Banking Choices
Assess your financial needs and goals Compare fees, interest rates, and features Consider customer service and accessibility Review and adjust your banking regularly