Bank (noun)
Definition
A bank is a financial institution that provides a range of services, such as accepting deposits, granting loans, facilitating transactions, and offering other financial products to individuals and businesses.
Etymology
The word bank originated from the Italian word banco, which means a bench or counter. The term can be traced back to the Latin word bancus or banca, which also referred to a bench or a table used by money changers or merchants for conducting business.
Synonyms
- Financial institution
- Money center
- Depository
- Financial firm
- Credit union
Antonyms
- Borrower
- Debtor
- Customer
- Non-banking entity
- Non-financial institution
Example
The bank’s online banking platform allows customers to manage their accounts conveniently.
FAQs
What is a bank deposit?
A bank deposit is money placed into a bank account for safekeeping or to earn interest, available for withdrawal.
What is a bank loan?
A bank loan is money borrowed from a bank with an agreement to repay it with interest over a specified period.
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