A Charge card and a credit card are the terms that are considered to be the same by most people;However, this is not the case. Both of these cards have their own uses, and no one card is better than the other. Charge Card vs Credit Card The main difference between a charge card and …
Every business needs money to run. To even think about running a business, the first thought that will come to anyone’s mind is how much money will be required. Now to let the business survive and grow, a business person might borrow loans from family members or banks; it is in this context that people …
In today’s day and age, with the advancement in the business and service industry, people use clients and customers in a similar fashion. They although, in colloquial terms, they have come to mean the same, there is quite the difference between both the terms. Client vs Customer The main difference between a client and a …
If someone wants to make a decision about where he will do his banking then he has two choices. A credit union or any usual bank. Both these terms are financial institutions that offer quite similar services like- taking loans, checking or savings accounts, etc. Their goal is to save your funds from unnecessary spending, …
Bank rate is the interest at which the Central Bank of any nation provides a loan to its domestic banks. It is usually given against government securities and for a shorter or a longer period of time. MSF rate is the rate charged by the Central bank of the nation (RBI) to its domestic banks …
Accounting and Finance are two different disciplines but commonly confused by people because both of them deal with business money and assets. Accounting vs Finance The main difference between Accounting and Finance is that Accounting refers to maintaining the daily financial transactions of business while finance refers to the management and investment of money in …
Public or Private Corporates or organizations are running businesses to earn or maximize profits. Higher profitability show business success, positive sustainability, and better market share. Business enterprises always try to find opportunities that offer more revenues or profits by implementing effective strategies. But high profit also means they need to pay higher taxes that will …
Difference Between Accounting Profit and Taxable Profit Read More »
Banking plays a crucial role in facilitating trade and investments in the modern economy. These institutions come in various kinds. The differences are mainly brought about by the unique roles they play in facilitating the economy. Of the many kinds that are available, the investments and the merchant banks stand out. We shall examine merchant …
Difference Between Merchant Bank and Investment Bank Read More »
Whenever you want to take a loan or a credit card from a financial institution like bank or NBFC, you will hear them talk about credit report and credit score. Credit Report vs Credit Score The main difference between Credit Report and Credit Score is that a credit report is a report which shows the …
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Electronic Funds Transfer (EFT) refers to a method of transferring money from one bank account to another one directly. It does not in any way entail the use of paperwork. It includes direct deposits, wire transfers, automated teller machines, debit and credit cards, and electronic checks to name but a few! An automated clearing house …
A letter of credit is a financial instrument that is issued out by one bank to another one. The receiving bank is often located in a foreign nation. Its role is to guarantee the payments which are made to one person and is governed by a stringent set of rules and regulations. A bank guarantee …
Difference Between Letter of Credit and Bank Guarantee Read More »
Banks act as intermediaries between borrowers and depositors. They’re the financial institutions involved with the task of accepting deposits, lending, and offering a broad range of investment products. It’s to be however noted that not all banks are the same. There are different types of banks, each tasked with performing different functions. Among them are …
Difference Between Commercial Bank and Merchant Bank Read More »
Common in the banking industry, the words overdraft and loan make one of the most confusing pairs of words. Notably, both of the words involve borrowing cash from a financial institution. However, the terms and conditions of borrowing some extra cash from a financial institution lead to differences between an overdraft and a loan. Overdraft …
Apart from public and private banks, there is another categorization of banks viz scheduled and non-scheduled banks. Scheduled Banks vs Non-Scheduled Banks The main difference between Scheduled Banks and Non-Scheduled Banks is that Scheduled banks can take money from Reserve Bank of India, while non-scheduled banks cannot take any money from RBI. The cash reserve …
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When you reach out to any bank for opening a saving or current account, you will find that there are two types of banks viz public and private banks. Public Sector vs Private Sector Banks The main difference between Public Sector and Private Sector Banks is that Public sector banks are the banks owned more …
Difference Between Public Sector and Private Sector Banks Read More »
Unit and branch banking are the two popular types of banks. Unit Banking vs Branch Banking The main difference between Unit and Branch banking is that Unit banking refers to a single bank outlet that only serves a local community. On the other hand, branch banking entails the provision of banking services through a firm …
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