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Most candidates who attempted this question did not perform well. They could not state what a commercial bank. They could not explain the different types of account and those that did missed the key features of current, saving and fixed deposit accounts. For the service available at commercial banks, most candidates did not state their responses as required in the question. They used phrases.
The expected responses to the question include:

6(a) commercial bank is a profit making organization that receives deposits, allows withdrawals and gives loans to individuals and corporations.

6(b) i. Current account: This is an account opened for day to day use by salary earners, traders and other businesses. It operates by the use of cheques. Banks charge commission on turn over (COT) for the use of the account. Owners can be granted loans or overdrafts and withdrawals can be made by cheques.

ii. Savings account: This is an account opened to keep money that is not urgently needed. Banks pay interest to the owners of the account and they are also entitled to loans and overdrafts.

iii. Fixed deposit account: This is a deposit placed with a bank for a specific period. In return, the bank pays interest which is often higher than that paid on savings accounts. Account certificate of deposits are issued as evidence of deposit. The owner can sell it before due date at a discount.

6(c) Services that are available at commercial banks

i. Banks accept deposits in the form of savings and fixed deposits.

ii. Banks grant loans and overdrafts to their customers.

iii. They provide money remittance services.

iv. They provide business advisory services.

v. Banks act as referees for customers.

vi. They issue guarantee/bond services for customers who are bidding for contracts.

vii. They issue credit/debit cards to enable customers to spend money without carrying cash.

viii. They offer safe keeping facilities for valuables such as jewellery and documents.

ix. They provide foreign exchange services and issue travellers cheques.

x. They provide agency services when acting on behalf of customers.