What is Retail Banking?

<p><strong>&lt;a href="https://www.shiksha.com/banking-finance-insurance/retail-banking-chp"&gt;Retail banking&lt;/a&gt; is also consumer banking, and personal banking</strong>, offering financial support to individual customers rather than businesses. It is a way for consumers' money management, access to credit, and funds security.&nbsp;Retail banks offer services like <strong>checking and savings accounts, mortgages, personal loans, credit cards, and certificates of deposit (CDs).</strong><br>Retail banks are also an essential source of credit for people. They offer them credit to purchase big-ticket items such as homes and cars. This extension of credit can take the form of mortgages, auto loans, or credit cards and is an important facet of the economy as it offers liquidity to ordinary people, which helps the economy grow.</p>

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