Bangalore: Banking is an important part of our life. We need it everywhere, while using an ATM to draw cash or while using our debit or credit card and while transferring money over the internet. But you hate it whenever you need to wait in a queue for long and finally when you meet your turn to speak to the clerk over the desk, you miss out on every single word what he says. To solve this problem of yours, Priya Rao from Investment Yogi has come up with some banking terms which will ease up your personal banking life if you are familiar with them.

1. Base Rate

The minimum rate at which a bank charges loan to its most credit worthy customers is known as base rate. As per RBI norms, banks are not allowed to lend loans below their base rates, but there can be few exceptions to this also, like lending to bank's employees or to bank's depositors against their own deposits.

2. Linked Account

Any two or more accounts in a same bank which are linked with each other that is, these accounts can transfer funds electronically. There are many other specified services as well which these accounts can share.

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