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F N B. Before the introduction of the updated banking system, people used to save their money in hard cash. They stored this cash in lockers, underground, with the grains, etc. There were so many cases when the money got stolen, eaten by the rats or simply rot through the years. However, the modern banking system completely removed the need to store hard cash.

Before modern banks were established, people would borrow money from local money lenders, landlords, merchants or other wealthy individuals. These loans were given at excessive interest rates that most people couldn’t afford to pay, in the process the borrower would always remain in debt. It was a vicious cycle. Modern banks started providing cheaper loans to the underprivileged section of the society, breaking the whole expensive loans system. Below are list of F N B.  

List of Banks and Savings Banks

  • Capitec Bank
  • Standard Bank
  • Nedbank
  • Capitec Bank
  • Capitec Bank
  • Grindrod Bank Ltd
  • Standard Bank

Contact Details and Addess of Banks and Savings Banks

  • Capitec Bank

Address: Shop 27 Salisbury Ctr, 332 Anton Lembede St, Central, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.capitec.co.za

  • Standard Bank

Address: 135 Musgrave Rd, Berea, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks

Phone number:
031 314 2000

  • Nedbank

Address: Mangrove Pk, Uitsig Rd, Athlone, Kwazulu Natal, 4051, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.nedbank.co.za

Phone number:
031 581 7400, Fax: 031 581 7405

  • Capitec Bank

Address: Akal Hse, Monty Naicker Rd, Central, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.capitec.co.za

Capitec Bank

Address: Shop 1 & 2 331 West Street Next to Discom, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.capitec.co.za

  • Grindrod Bank Ltd

Address: Kingsmead Blvrd, K E Masinga Rd, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.grindrodbank.co.za

Phone number:
031 333 6600, Fax: 031 571 0505

  • Standard Bank

Address: 40 Ingcuce Rd, Central, Kwazulu Natal, 4001, South Africa, Durban. See full address and map.
Categories: Banks & Savings Banks
www.standardbank.co.za

Conclusion:

Banks create money with a system called credit creation. With the help of credit creation, banks can lend a lot more money than the deposits that it holds. When banks lend this money to agriculture, industries, small businesses, and service providers, they are actually helping the economy grow exponentially.

This, in turn, creates employment and spending power. Overall this one function of the bank is so powerful that the entire economy of any country relies on it.