(i) Commercial banks offer safety locker facilities while non-bank financial institutions do not offer safety locker facilities.
(ii) Commercial banks are members of clearing house/ clear cheques through clearing house while non-bank financial institutions are not members of clearing house/ do not participate in clearing cheques.
(iii) Commercial banks provide foreign exchange services while non-bank financial institutions do not exchange foreign currency.
(iv) Commercial banks lend money to all sectors while non-bank financial institutions lend money for specific sectors.
(v) Commercial banks are regulated by the central bank/ Banking Act while non-bank financial institutions are not regulated by Banking Act but other Acts.
(vi) Commercial banks provide short-term loans while non-bank financial institutions provide long term loans.
(vii) Commercial banks provide current account facilities/ issue cheque books while non-bank financial institutions do not provide current account facilities/ Do not issue cheques books.
maurice.mutuku answered the question on July 26, 2017 at 08:27
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