commercial bank

  

Definition

Privately owned financial institution which (1) accepts demand and time deposits, (2) makes loans to individuals and organizations, and (3) provides services such as documentary collections, international banking, trade financing. Since a large proportion of a commercial bank's deposits is payable on demand, it prefers to make short-term loans instead of the long-term ones (which are handled by organizations such development finance companies and home mortgage companies).

Use commercial bank in a sentence

  • Sometimes if you have tried to get a loan from the major banks and it won't work you can go try a commercial bank.

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  • I wanted to transfer my funds to a commercial bank, because they were more reliable and trustworthy in my mind.

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  • Having a good commercial bank on your side will make it much easier for your business to grow and expand.

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