Different Business Loans offered by Canara Bank for Different Needs and Different Industries.
Business loans can be divided into two categories, namely corporate business loans (sometimes also referred to as business loans leading to confusion) and MSME loans. Corporate business loans are meant for larger businesses whereas MSME Loans are designed for businesses in Micro, Small and Medium Enterprises segment.
Let us look into Corporate Business loans offered by Canara Bank, one of the largest public sector banks in the country.
The different types of Corporate loans offered Canara Bank are:
This loan helps businesses get funds for their everyday…
Different education loan schemes offered by Indian banks.
Education loans are designed to help students get financial support from the banking system to pursue higher education in India and abroad. This ensures that meritorious students do not miss out on achieving their dreams because of a lack of funds. Indian banks have reasonable terms and conditions for education loans laid out by Indian Banks’ Association (IBA).
Most banks require parents/guardians of students to be co-borrowers of the education loan. …
The year 2020 has turned out to be the longest year yet for most people. Coronavirus, which started somewhere in the Wuhan city of China — live seafood market if we are to believe the news and a secret lab according to conspiracy theories, has now spread its feet in every nook and cranny on this planet. Despite preventive measures like lockdowns and travel restrictions, the virus has been nothing short of unstoppable. Sadly, India is now one of the worst-hit countries in the world.
Not many urban consumers today know that the Indian Postal Department offers a range of Post Office Saving Schemes.
At one point of time these savings schemes were the first option people across the country thought of when they wanted to save and invest their money. These accounts are a favourite among Indians in smaller towns and villages even now.
What attracted people to them was their accessibility. This may seem strange in today’s age but until 2 decades ago, most banks in India except the top 3–4 nationalised banks had very few branches across the country. …
If you want to open a child savings account and wondering if a private bank like HDFC or ICICI is better as compared to say SBI or Bank of Baroda, then you are definitely not alone. Most of us parents want the best for our children and prefer an account that works best for our precious ones but also does not cause unnecessary hassles for us.
If you are someone who grew up in the 1990s or earlier, you probably remember how big a pain it was to get something done in nationalised banks. You will be surprised to know…
Let us clear this myth right at the start: children’s savings accounts by themselves do not give your child great returns.
The only ones that do are tiered accounts that combine a savings account with investment options like fixed deposits or insurance policies like endowment policies or unit linked insurance plans (ULIPs).
These accounts work on the minimum balance principle, where after an account crosses a certain minimum balance the excess funds are automatically transferred into a fixed deposit or any other investment instrument that gives better returns than the 3.5–4% you would get on a savings account.