What Is a Bank? — Explain that banks provide services such as deposits, payments, savings accounts, lending, and money transfers.
Bank Accounts — Visually show:
Current/checking account
Savings account
Fixed/term deposit account
How Loans Work — Show the basic process: Borrow Money → Pay Interest → Make Regular Payments → Repay the Loan
Types of Loans — Include:
Personal loans
Auto/car loans
Student/education loans
Business loans
Home loans/mortgages
Understanding Interest Rates — Clearly illustrate: Principal + Interest + Fees = Total Cost of Borrowing
What Is a Mortgage? — Show a house, mortgage application, lender, down payment/deposit, monthly payment, and home ownership.
Mortgage Payment Breakdown — Visually explain:
Principal
Interest
Property taxes/fees where applicable
Insurance where applicable
Fixed vs. Variable Interest Rates — Use a simple side-by-side comparison showing: Fixed Rate: payment/rate is generally more predictable. Variable Rate: rate can change according to the loan terms and market conditions.
Credit & Loan Approval — Show factors lenders may consider:
Income
Credit history
Existing debt
Employment
Deposit/down payment
Ability to repay
Smart Borrowing Tips — Include:
Compare interest rates and total borrowing costs
Understand all fees
Borrow only what you can comfortably repay
Read the loan agreement
Keep emergency savings
Avoid unnecessary high-cost debt
Key Reminder — “A loan is borrowed money that must be repaid. Always understand the interest, fees, repayment schedule, and total cost before borrowing.”
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