Business Banking
Whether you are starting a new venture or looking forward to move to next stage of growth in your existing one, financing is critical to business success. Finance for business typically falls under two categories – Equity and Debt. While equity requires convincing investors to provide finance in return for stake in business, debt implies borrowing money that has to be paid back over time, with interest. All commercial banks offer this facility of debt through their business banking services. These are in form of overdrafts, loans, business credit cards and commercial mortgages.
Business banking service in the form of overdraft is linked to current bank account. Overdrafts are devised to help manage short term borrowing needs. It is a working capital facility and can be an excellent way to recover short term cash flow fluctuations.
Business loan is the amount of money borrowed for an agreed period of time with an agreed schedule for repayment. The repayment is in form of instalments and the amount depends upon size of the loan, the period for which it is borrowed and the applicable rate of interest. For long term needs, loans are a better option than overdrafts.
Business banking services offered by some banks include the facility of business credit cards which work like personal credit cards, enabling business owners to pay for daily expenditure.
The commercial mortgage service can be availed to purchase commercial property such as shops, offices, factories or warehouses.
The source of finance best suited for a business depends on its nature of operations and market circumstances.
Tuesday, May 17, 2011
Personal Insurance
Personal Insurance may be in the form of Life Insurance that provides lump sum or equivalent instalments in the event of death or a permanent disability due to illness or accident. The monetary amount is paid to the policy owner in case of disability and to the nominated beneficiary in the vent of his/her death. Some personal insurance policies also cover trauma and critical illness to provide for a sum of money in the event a policy holder is diagnosed with specified traumatic medical conditions.
Critical illness insurance amount is paid out as lump sum unlike life insurance that most policy holders prefer to get as family benefit for their dependants.
Personal insurance cover for critical insurance can be used to reduce financial and other stress during recovery and can be used to cover medical expenses, pay off mortgage or loan instalments and ease the burden of childcare. In case of job loss, income protection and unemployment support provided by personal insurance policy can be very helpful in increasing your financial viability by giving you the time and space to find a new job.
Personal insurance can be purchased individually. Most of the large and medium sized corporations offer some type of health insurance to their employees. There are also some government funded insurance schemes for low income families.
Personal Insurance may be in the form of Life Insurance that provides lump sum or equivalent instalments in the event of death or a permanent disability due to illness or accident. The monetary amount is paid to the policy owner in case of disability and to the nominated beneficiary in the vent of his/her death. Some personal insurance policies also cover trauma and critical illness to provide for a sum of money in the event a policy holder is diagnosed with specified traumatic medical conditions.
Critical illness insurance amount is paid out as lump sum unlike life insurance that most policy holders prefer to get as family benefit for their dependants.
Personal insurance cover for critical insurance can be used to reduce financial and other stress during recovery and can be used to cover medical expenses, pay off mortgage or loan instalments and ease the burden of childcare. In case of job loss, income protection and unemployment support provided by personal insurance policy can be very helpful in increasing your financial viability by giving you the time and space to find a new job.
Personal insurance can be purchased individually. Most of the large and medium sized corporations offer some type of health insurance to their employees. There are also some government funded insurance schemes for low income families.
Subscribe to:
Posts (Atom)