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Types of Current Accounts for Businesses

One of the compulsory requirements when starting a business is that of opening a Current Bank account. It is the best for carrying out business transactions, and keeping business separate from your personal expenses. It is required for any kind of business – big or small – current account is required to document company transactions and records. They have attractive offers associated with them because of the frequent transactions in these accounts.

It is easy to a current account all you need to provide is some proof of the business and business expenses to get the account.

There are various types of accounts available in India, so it is important to scrutinize each one and selecting the right one for you. Banks have a variety of offers and different type of business accounts to offer. Your bank will have the right solution for all your current account requirements.

These are accounts in which high amount transactions take place on a regular basis. When choosing an account you must consider how much you want to save

The Advantage of Credit Preservation Loan

Managing finances in the present times is challenging for all and sundry. There are many people who strive to ensure that there arises no fiscal hassle in their financial life. However, at some or the other stage in life, the situation arises that many of you find yourself trapped in debts. Paying huge amount of money for clearing debt can make things complicated in your otherwise smooth life. This is primarily due to the fact that credit card debts are extremely high in comparison to other forms of available loans. If this is the situation with you then applying for credit preservation loan makes for the right decision. In addition to fast payment, there are several other advantages which tag along with this loan.

When you apply for this loan, you are able to get access to funds which help you in paying credit card debts almost immediately. There might be very possibility for you to think of the reason why it is called preservation loan. The answer is simple – it not only allows

Information about Instant Money Transfer

Over the last few years, the field of electronic funds has witnessed a rise over the past few years. This has resulted in an increase in the opportunities in the e- commerce and m – commerce industry. Banks and financial institutes are now interconnected via a centralised network, thus allowing easy access to any account details on the central server. This enables users to transfer funds between any accounts, although there is considerable distance between each of them.

Banks have introduced several additional services making financial transactions a convenience for many. Amongst these services, the instant money service has been one of the most beneficial ones. Instant money transfer service, is an innovative card less cash withdrawal service. Through this service, you can remint funds to anybody within the locality or country. In some cases, you can even transfer funds to another individual, just by providing a mobile number. The receiver can then withdraw and access the funds from the account, without the requirement of using a banking card.

When to make use of the instant money transfer?

One of the main benefits

How to Pay Back a Loan If You’re Having a Slow Season

According to the US Small Business Association, there are 28.8 million small businesses in the US, and they have 56.8 million employees. Businesses are defined as small if they have fewer than 500 employees. In the US, small businesses account for 99.7% of all businesses.

The NSBA (National Small Business Association) conducted a survey among small businesses and found out that 27% of them weren’t able to receive the funding they needed. According to the SBA, business loans, credit cards, and lines of credit represent nearly ¾ of financing for new firms.

Based on Biz2Credit’s Small Business Lending Index, in March 2016, major banks approved 23% of funding requests, institutional lenders approved 62.8%, small banks approved 48.7%, alternative lenders approved 60.7%, and credit unions approved 42% of loan applications.

If you have a loan, you might be interested in how you could pay it back during slow seasons. Regardless of the size of the loan, this is a serious problem that you should tackle taking the right steps. So,

Facts about the Commercial Finance Industry

Facts about the commercial finance industry

  • There are more than 28 million small business in the United States of America and amongst these, more than 22 millions are self employed
  • There are millions mid-sized businesses as well
  • Each year, more than 10-12 million businessmen seek capital funding
  • Also, each year about 7-8 million do not get it
  • Loans for small business have fallen

All these prove that there is a huge gap between demand and supply as far as capital is concerned. This gap can only be fulfilled when there are enough lenders in the industry and more importantly, when the borrowers are able to reach to the lenders.

It is not easy to get secure loans these days, though there are many financial institutions out there ready with varied loan options. There are many formalities and many rules and regulations those make it difficult for borrowers to seek loans from these agencies.

Apart from that, the options in terms of the demand are really less and hence, it has been estimated that 90% of the small businesses are in need of your financial services.

Why opt for Global Financial Training

Principles to Help you Manage Finances

1. Money Awareness:

Ensuring a stable financial situation starts with understanding your spending habits, your creditworthiness and where you stand with regard to your budget and disposable income. Are you good at saving or are you a big spender? Understanding your financial position will help you to plan realistically for both long and short-term goals.

2. Money Plan:

Your financial health and secure financial future lies in your ability to budget properly. Draw up a budget that includes not only your monthly expenses, but future planning for retirement and education too. If you are a habitual spender, arrange debit orders each month that pay your most important bills before you can spend frivolously on anything else.

3. Money Safety Net:

Saving money is one of the most important things that you can do to ensure financial security. If you have savings, you won’t need to seek credit or a personal loan to cover any financial emergencies that may arise. You need to allocate money in your budget towards savings and investments every month. To help you start saving, ask yourself the following questions:

  • What is my investment goal? Is it for a

Tips to Secure Financial Future

Relieve Your Debt

There comes a time where we all fill out a credit card application form – whether we do it for the sake of a good credit score or for financial security, we become liable for whatever amount of money is spent on that credit card. There is also a possibility that we have a personal loan or two behind our names, which also adds to the responsibility of repaying a lump sum at the end of every month. The first step towards securing your financial future, however, is to relieve yourself of your debt. Jot down all that you owe and set deadlines for yourself. Once you’ve paid off all of your debt, you will earn back your financial freedom and will be able to move forward.

Use Your Credit Card Wisely

Wise use of your credit card will also ensure that you limit the amount of debt that you incur. Be sure to use your credit card for emergencies or for large once-off payments on items that you need. If you do happen to use up your credit, be sure to pay it back in

Way Choose a Good Financial Advisor

Here are ways that help in making the right choice of a financial advisor.

  1. The first and the most important aspect in a financial advisor is the experience that he or she holds. When an advisor has adequate amount of experience in dealing with money, they are more likely to be able to impart useful knowledge.
  2. It is also essential to make sure that the advisors have a hardcore finance background, which means that the competencies of the advisors should lie very strongly in the field. Good advice in financial matters may be given only by those who know the trade like the back of their palm.
  3. It is also important that the advisors know the nuances, rules and repercussions of various investment options. When a financial advisor is chosen, it should be one who can advice like an expert, for example the Syndicate Finance in Mumbai.
  4. The diversification of financial investments is something that is the most essential investment function, this implies that an advisor should be able to advice on diversifying an investment portfolio for it to be able to grow and be nurtured.
  5. It is also important that the advisor knows about the

Trade Finance Products are provided by Financial Institutions

Letters of credit

A letter of credit is an undertaking by the bank or financial institutions of a promise to pay the seller/exporter on behalf of the buyer/importer – with the condition that the seller submits the documents related to the agreement to the designated bank or financial institution of the buyer. The bank or financial institution specified in the purchase agreement will pay the seller/exporter the agreed payment against consignments.

Bank Guarantee

This is also a promise or undertaking provided by the Bank in favour of the beneficiary and on behalf of the applicant. If the applicant fails to meet the obligations of the agreement either by finance or performance then the guarantor bank will make the payment to the beneficiary on behalf of the applicant on receipt of the claim or demand made by the beneficiary. There are various types of bank guarantees offered by the banks and these include Tender Bond, Performance Bond, Advance Payment, Retention, Labour and financial.

Discounting of bills

This is the most common service relating to trade that is provided by the banks. Here the bank designated by the seller

Types of Financial Calculators available in the Market

These calculators are designed to calculate the ideal rates most suited to you, depending on the input you have. There are plenty of calculators that are available in the financial market, each designed for a different purpose. Some of them include the following:

Calculator to help in planning your retirement:

At some point in time, you will need to retire from your professional life. But planning your finances after you retire will help you get a peace of mind. The retirement calculator will help you plan your finances depending on factors such as your age, current income and savings rate. Additionally, it will take into consideration other influential factors depending on your choice of lifestyle you would want to lead after your retirement.

Loan calculator to help make your EMI’s

When you apply for a loan, you will be required to know much to keep aside for the EMI’s. This is crucial as it will help you plan your principal amount and interest rate before you even start. The loan calculator takes these factors into consideration before calculating the ideal amount for you. Normally, there are plenty of other loan payment calculators that are

Loan Calculators the Best Financial Tools for Financial Needs

Without the right financial planning, it is easy to end up with disorganized finances. No doubt, life would be simple if you do not have to worry about loans and debts. However, such is the reality, where you will need to deal with finances as a part of your life in this modern society.

Part of preparing your finances is by using all financial tools available to help organize your finances. If you ever need to apply for a loan, you need to understand all the variants, features and how it can affect your current finances. Part of being prepared is having a concrete understanding of how a loan works.Tools such as the loan calculator is one way to do so. Here is why this tool will help you with your financial needs in terms of a loan:

Loan comparison:

With so many loans offered in the financial market, how are you aware which choice is the best for you? Each of these loans are designed for different purposes. Additionally, they are also equipped with certain features and rates, which affect your repayment. Therefore, it is important to choose the right loan, for the right

Asset Finance Works

Asset finance is one of the useful funding arms extended to individuals and businesses when they are in need of funds for renewing or promoting business. What is asset finance and how does it work? Balance sheet assets such as inventory accounts receivable and short-term investments are used to get loans or borrow a sum of money, and security is provided by the borrower on the assets to the lender. The loan acts in conjunction with the laws of traditional loans and institutions, and the company or the borrower simply pledges some assets in exchange for money.

Any kind of loan secured by pledging assets is known as asset-based lending, and the conditions usually imply that the asset is to be retained by the lender if the borrower fails to return the loan within the agreed period and terms. You could say that a mortgage is also a kind of asset-based loan. However, the term asset based lending is only applied to big and small businesses and individuals who take a loan by pledging assets to a bank or financial institution.

Individuals can also avail themselves of this type of

The Depository Participant for a Demat Account

Investing in the stock market will provide you with high returns. With the right market conditions and the right investment strategy, you can easily get high returns with a small investment.

However, when investing in this financial endeavour, there are certain things you must be first aware of. The first thing you must be aware of is the demat account and how it functions. A demat account can be held by any individual, with the assistance of the depository participant.

So how does this depository participant function and why is it important to the functioning of the demat account? Given below are the required details about it.

Who is the depository participant ?

A depository participant is a financial entity that holds the account holder’s stocks and records. It also receives all the trades for purchasing or selling of any stock. The depository participant, also known as the DP opens your account with an allocated account number and DP ID number. Whenever an account holder purchases or sells a stock, this ID number must be mentioned. One of the main advantage of the DP is that the investor

Cloud Computing in Financial Sector

Cloud computing is slowly making an impact on the financial sector. Financial stakeholders understand the financial advantages associated with cloud computing. They are wary of the risk related to inefficient management of data assets.

Cloud Computing Can Be Categorized into 4 Models

Public Cloud

Public cloud services can be accessed by the client from a third party provider through the internet. However, the client’s data cannot be visible to the public. An access control mechanism is given to the clients. They are flexible and cost effective.

Private Cloud

A private cloud delivers several advantages of a public cloud – flexibility and excellent service. It also ensures data and processes are handled effectively in the financial institution. It enhances security.

Community Cloud

It is used by a cluster of institutions with common objectives. All the members share the data and application.

Hybrid Cloud

It is an interface between a public and private cloud. Information which is not business critical is sent to the public cloud, while sensitive business information is retained in the private cloud.

Some of The Challenges Are:

Handle The Risk – Governance and Compliance

Way Sort Education Finance Concerns Efficiently

Education is highly expensive nowadays and costs for higher studies are shooting sky high. It is foresure that with the handful of savings that our parents have will prove insufficient in front of the creeping costs of education. Therefore, they might opt for various ways for quality education like traditional finance, property mortgage etc. But education loan has come as the best helping hand for student to pursue quality education at low costs interest rates, fair amount of time to repay the loans and more importantly flexible ways to repay them.

However, when it comes to choosing the amount, interest rate applicable, tenure taken, principal amount deduction it’s a big dilemma for people. Therefore, banks and firms have introduced Education loan Interest to make life easy for students in choosing the best loan facilities.

While taking loan parents and students often stuck in lot of pros and cons and are mostly unable to figure the exact amount sufficient to meet their requirements especially for higher studies. Another big concern is that they are often tensed is the repayment modes and flexibility options available to clear off the debt at optimum costs with maximum term in hand.

The Benefits of Investing in SIP Mutual Funds

Investments are made solely with the aim of acquiring attractive returns in the future; for some they portend short term returns while for others, they are an assurance of long term returns. SIP Mutual Funds facilitate the savings of individuals in the most orderly manner. Mutual fund investments have become a hot property for those with heavy pockets and SIP mutual funds come to the rescue of all investors, big and small. Prior advice and guidance from Fund managers or experts helps you invest in the correct manner.

Investments through credible brokers:

Brokers often offer investors aggressive and conservative SIP mutual fund options. The former involves making investments in at least two large-cap stocks and 3-4 mid-cap stocks while the latter involves investments in at least five large cap stocks. Some finance institutions go a step further with an additional ‘moderate’ option of investment. Under the circumstances, Brokers apprise investors consistently about all updates and performances of the stocks in question.

You should leave the decision of selecting the most suitable stocks to your broker /finance experts as they are skilled professionals in this domain. They guide you towards understanding the risks and the returns which you

Types of Credit Card Processing Services

There are many merchant services that offer different ways to process credit card related transactions. Choosing the correct process for transaction purposes can lead to the efficient and smooth running of the business. The four methods of services which people should be aware of are online, terminals, manual transactions, and mobile terminals.

In this article, we will explain each process in detail to help you understand which method would fit best for your company or business transactions.

POS Terminals

Terminals are basically the card readers that are used by retailers where customer’s card gets to slide into their magnetic strip while paying for a product. There are also terminals which can be simply tapped to complete the transaction and they are known as “tap and pay.” Such terminals read cards using Radio Frequency Identification chips inside them.

Irrespective of which terminals you plan to use, these machines are attached to retailer’s cash registers and the transaction is processed using internet connection.

Online Processing

Online processing of credit card payments involves using an online website to sell services and products. We all have experienced and seen the option of shopping cart provided by

Advantages of Community Trust Bank

Banks have been introduced so that people can easily utilize their money in a secured way. In old days, wealth was hardly utilized in a proper channel as there was no specific planning.

If you are looking forward to selecting a checking account, then Community Trust Bank Surrey will be the right place. The staff members involved will assist you in selecting a checking account that will help you in building your finances along with meeting specific needs.

The bank feels glad to provide convenient options along with benefits for such specialized checking accounts. Some highlighted options along with benefits include:

  • Avoiding low monthly maintenance fee when low balance is maintained
  • Free flex debit card
  • Access to 24-hour banking through round the clock convenience line
  • Mobile banking
  • Internet banking with bill payment option
  • If you have a branch of Community Trust Bank nearby your dwelling place, then it will be good to avail membership in order to fetch numerous benefits.

Availability of Electronic Transfer Account (ETA)

Some highlighted benefits in association with Electronic Transfer Account include the following:

  • Easy availability of account to individuals who receive a federal benefit payments
  • You need to provide minimum deposit per month.

Way to Manage Accounts Efficiently

Maintaining good accounts is of vital importance to the know how the business is performing and check the money in and out of business. With proper and accurate accounts, there is no need to remember business transactions as all the records are stored if needed in the future for verification by an auditor. The permanent records must be maintained in an organized manner if required by the government for audit.

It is important to check the financial health of the business is good or not with correctly maintained accounts and records. Business is said to run smoothly when the accounting system is reliable, and produce accurate and updated financial information and has good and maintained records. The tax calculation must be made with the help of efficient accounting system. The financial statements and reports give a clear picture of how cash flows in and out of business.

It also helps to keep track of the company’s money, show how the company is performing on the daily, weekly or monthly basis and make it easier to prepare the company’s income tax return. There are many general accounting systems that all small businesses are using to earn more

Corporate Finance Consulting

Finance is now part of most common and trivial activities of routine life. Be it marketing, selling any wares, assistance to any person in any form, finance forms the core element. Finance having widespread branches is not merely confined to regular chores of life. In tune of this discussion, comes the concept of Corporate Finance. Corporate Finance, as the name suggests, deals with the sources of funding for big corporate houses and multi-national companies. It is nothing but the steps taken by managers to make the body corporate more viable and lucrative to share-holders and the tools and scrutiny deployed for allocation of financial resources.

As Corporate Finance is big in itself, there are a number of streams of work associated with it. Such activities come under the purview of Corporate Finance Service. Corporate Finance Services includes a wide range of assistance like managing money, which includes banks, credit-card companies, insurance companies, accountancy firms, investment management companies ,stock broking firms -to name a few. Many of them provide a series of

services under one umbrella.

Corporate Finance is quite complicated, specially to an organization or a person just being a fresher and thus comes the