Worldwide, Credit cards habitually rule the financial news, with approximately $1 trillion in outstanding revolving credit dues at the first quarter closing of 2021 as projected by the Federal Reserve’s Study. Consumers, all over are easily accustomed to plastic money such as debit cards, credit cards and other methods of noncash expenses. These kinds of transaction create approximately $174.2 billion in transaction volume—representing $97.04 trillion in value every year.
With the increase in the number of mobile app users, banking platforms are constantly working towards giving users a hassle-free experience. In this article, we have listed our top picks of mobile banking apps.
International Financial Reporting Standard i.e., IFRS are basically a set of accounting principles that are used globally. These are issued by the inspiration of IFRS and the International Accounting Standards Board (IASB).
Some people want to save or invest money, while some people want to borrow money for various purposes. Banks are basically financial institutions that attract people to save their money by providing interest rates on their savings. Additionally, they provide loans to the people or institutions which pay them a loan at various interest rates.
We all know that banks are basically financial institutions that attract people to save their money by providing interest rates on their savings. Additionally, they provide loans to the people or institutions which pay them a loan at various interest rates. Usually, the interest rates charged by the banks are much higher than the interest rates provided by the banks to its customer for savings.
An efficient banking system is regarded as a necessary pre-condition for growth. The banking system plays an important role in promoting economic growth not only by channeling savings into investments but also by improving the allocative efficiency of resources.
With the rising expense of colleges and institutions, educational loans have become increasingly important in many people's lives. Anyone who wishes to pursue higher education can benefit from these loans. They are especially lucrative for expensive courses at prestigious universities.
Income Tax is considered to be one of the hardest things to understand what with 300 sections, subsections, case laws, clauses, sub clauses and many more. Unless you are at tax personnel, this information is sure to leave you at your wit’s end. However, ignorance is not considered to be bliss in this case and there are some basics that you should know about regarding your taxes.
Investment planning aids in the selection of appropriate investments per your financial goals and objectives. Nowadays, there are multiple avenues for investment planning including cash, bonds, securities, and real estate.
With the market throwing up new investment opportunities every day, many people tend to get confused regarding whether to invest in mutual funds or fixed deposits for better returns. Before choosing any of them, you need to carefully analyze risks and returns involved in the plan.
Every individual with a stable income must ideally save a percentage of their income as their savings for future use. Savings have become a common financial element in most households and are crucial for dealing with situations of the financial crisis.
EMI is a predetermined payment amount given to the lender by a borrower at a particular date each calendar month. EMI is an equated monthly payment. Equated monthly instalments apply to both interest and capital every month in order to fully reimburse the loan over a set number of years.