POSB Bank

By |2022-09-15T12:43:45+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Money and Banking: POSB Bank.

Post Office Savings Banks

  • People’s Own Savings Bank.

Functions

  • It accept deposits from individuals and companies.
  • It operates savings accounts which earn tax free interest.
  • It operates stop order facilities for clients.
  • It lends money to large organisations for example Discount Houses.
  • It invests money into Treasury Bills and municipal stocks.

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