Banking Terms for Bank Exams

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G

1. Gift of the gab: This means, the ability to speak well. A salesman should have the gift of the gab.

H

1. Hire-Purchase System: Hire-Purchase system is a system of financing for a customer which allows him to pay in installments for a product

2. HNI: HNI means High Net worth Individuals. In India they should have financial assets of at least US $ 1 million excluding the primary residence. However, the financial assets deployed by HNI in the stock market can vary depending on stock price movements. With the fall in stock markets the world over, the wealth of such individuals has reduced. Banks normally classify the HNI market segment as a niche market & put in place special schemes to attract & retain such individuals as customers. Many Banks classify customers into ordinary, preferred & classic depending on the fixed deposits they have in the Bank. They also assign Relationship officers to such individuals to serve their requirements.

3. Household Savings: Household savings consist of currency, savings bank / bank fixed deposits, net claims on government like PF, small savings, pension fund, savings/debentures, insurance, mutual funds.

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