Savings Banks primarily offer the customers with the savings account where they can save their money. However, this is not the only service that these banks offer. There are quite a few services they offer, but it is only for the individual customers and not for business houses. Here are six services that savings banks offer-

1.  Savings Options – There are a variety of banks in California and they all allow you to open a standard account where you can save. They may charge a small fee for opening the account and another fee for maintaining the account. There are few banks that do not charge anything, but a minimum fixed amount. You cannot open an account with a deposit amount lower than that. You can regularly update your passbook to keep a check on your savings.

2.  Checking option – There are several banks that allow you to have a checking account. This account works along with the savings account and you can draw cheques on this account. You will normally not earn any interest on the money kept in this account and therefore, account holders usually transfer the money to their savings account.

3.  Credit and Debit Cards – There are several banks that allow customers to have a credit card. You can apply for a credit card from the bank. The bank will check your credit history and then decide on the limit of your credit card. Similar to the credit card is the debit card, which allows you to draw from the savings account and use the ATM service to withdraw money.

4.  Loan Facilities – These banks also allow you to apply for loans. You can apply for home loan, car loan, education loan, or even go for a mortgage loan. The loans are given against a security- a property that the bank can confiscate in case you cannot repay the borrowed amount. This way, the bank doesn’t lose out even if you fail to repay.

5.  Electronic Banking – All leading banks now offer electronic banking. This service allows you to access the various services provided by the bank, online. You can check ATM transactions, transfer money to different accounts and access the different banking services. You can also open up new accounts, check your balance and make payments without going to the bank in person. E-banking is slowly starting to become a very important service because it helps save time.

6.  Additional Services – These are the basic services offered by savings banks. Apart from these, they also offer services like retirement and pension plans, and provident fund plans. These are the additional services enjoyed by account holders. You usually have to provide a certain fee for these services. Banks also offer you investment and share market advice through their consultants.

Opening an account with a bank will help you in a lot of things. You can build a credit history that will help you when you apply for loans or credit cards.