Name a common financial product offered by banks.

Mortgages are a common financial product offered by banks, specifically designed to help individuals purchase real estate. This type of loan allows borrowers to finance a significant portion of the price of the property, typically requiring a down payment and offering a structured payment plan over an extended period. Mortgages are secured loans, meaning that the property itself serves as collateral for the loan. This reduces the risk for banks, enabling them to offer favorable interest rates compared to unsecured loans.

In the context of banking products, mortgages are essential for facilitating homeownership, and they drive a significant portion of a bank's lending activities. The terms of a mortgage, such as the interest rate, repayment period, and any fees involved, can vary, but they all typically revolve around making real estate transactions more accessible to consumers.

Other financial products like credit cards, personal loans, and investment funds are also prevalent but serve different purposes and client needs. Credit cards typically provide revolving credit for short-term borrowing, while personal loans offer unsecured financing for various purposes. Investment funds are managed investment opportunities rather than loans and do not fit into the same category as traditional bank lending products like mortgages.