Personal banking is a type of banking service and product line offered by banks to retail customers, that is consumers rather than businesses, intermediaries and institutions. Banks worldwide offer personal banking products that typically include savings and transaction facilities such as a bank transaction account, debit cards/EFT, an interest bearing floating account (savings account) and a fixed interest deposit account for a specific agreed period (certificates of deposit / term deposit) which can vary according to the bank. In addition it also includes debt facilities such as loans, mortgages and credit cards.
The customers of personal banking services and products are commonly the general public that includes adult individuals, retirees, students, children who may be citizens, residents and non-residents depending on the requirements of the country or bank. While affluent individuals may also use personal banking services, they may also be offered private banking services by banks which can include more sophisticated services and investments.