Diferencia entre préstamo y anticipo (con tabla)

Loan and Advance both are financial terms related to economical welfare. Basically for a common man, both are liabilities that need to be paid off. Most people often use these words synchronously but they have a slightly different perspective.

Loan vs Advance

The difference between loan and advance is that loan is given by banks with interest to be returned whereas an advance is an early payment from the employer’s salary.

A loan is an amount borrowed for specific financial needs like investing in assets, purchasing consumer durable, constructing a building, making payments, or fulfilling financial obligations so that business processes can run smoothly.

An advance is generally given by an employer to the employee for meeting short-term financial needs. An advance is usually deducted from the employee’s monthly salary. Advances are also provided by banks to organizations or business owners for meeting their capital requirements.


 

Comparison Table Between Loan and Advance (in Tabular Form)

Parámetro de comparaciónPréstamoAdvance
PersonajeCuando una persona quiere hacer prosperar su negocio, construir su propia casa o quiere estudiar en el extranjero, solicita un préstamo a un banco o cualquier otra institución financiera.When the man is in short term financial need he can take an advance which is deducted from his salary.
Tasa de interésUna parte del principal se pagará mensualmente junto con la tasa requerida.Here, no interest is paid only some money from the earned salary is withdrawn early.
PrestadorEl prestamista es principalmente un banco u otra institución financiera.The lender is the employer of the company where he is working.
HoraThe nature of the loan is long. It can have a long term relationship with the bank.Advance is usually for a short period or at least one year.
SeguridadThey are safe but you may come under debt and collateral agreement.Advances are always safe as it does not include any debt or collateral agreement.

 

¿Qué es un préstamo?

The loan is the amount of money, lent to you by nationalized banks, private banks, and other financial organizations and expected to be paid back with timely interest.

El monto exacto del préstamo que puede obtener depende de su tipo de trabajo, sus ingresos, información fiscal, deuda en el mercado, créditos y otros factores.

Los préstamos suelen ser seguros y están garantizados. Además, tienen una garantía de un activo como: casa, automóvil, vehículo y otros. Si no puede devolver el dinero, ellos toman posesión de su activo.

Hay diferentes tipos de préstamos:

  1. Préstamos estudiantiles
  2. Mortgage loans
  3. Préstamos comerciales
  4. Préstamos para vivienda
  5. Préstamos para autos
  6. Préstamos de oro y otros.

Ventajas del préstamo:

Bajas tasas de interés: Los bancos proporcionan principalmente intereses manejables que son cómodos de pagar que las amenazas de deuda que se reciben con frecuencia.

Tax benefit: Cuando usa su préstamo para negocios, el interés que paga es un gasto deducible de impuestos. Además, no es necesario que comparta sus beneficios con el prestamista.

Desventajas del préstamo:

Colateral: El banco siempre ignora su puntaje crediticio (qué tan bueno puede ser) y necesita formar alguna garantía. Así es como se protegen en caso de que no devuelva la suma de dinero.

Complicado: Solicitar un préstamo es complicado ya que requiere mucho papeleo físico. Pueden pasar meses para procesar su solicitud y aprobarla.

 

What is Advance?

Advance is most commonly provided by the company to the employer, customer to the business office or even banks. An advance is usually deducted from the employee’s monthly salary.

When a fund is provided by the bank or any financial organization to a business company or an individual for a specific purpose that is to be repayable after a short period is also known as advances.

Hay diferentes tipos de préstamos:

  1. Short term transaction
  2. Sobregiro
  3. Bill Purchase
  4. Cash credit

Advantages of advance:

No interest rate: You can ask for an early withdrawal of a part of your income for financial needs, but there is no interest to pay.

Short-term: Advances are usually a short term relationship and in rare cases, it can last up to one year.

Disadvantages of advance:

Financial loss: It gives you some cash from your income or salary to meet the needs. At the end of the month, you may receive the deducted money which again may not fulfill financial needs.

Credit Score: Advances regularly may decrease your credit score ultimately leading to economical loss.


Main Differences Between Loan and Advance

Las diferencias clave entre ellos se enumeran a continuación:

  1. Loans are the origin of long-term finance engagement and are typically more than one year, whereas the advances are the origin of short-term finance engagement.
  2. The economical value of an advance is usually less than that of a loan.
  3. As advances are in the form of short duration, there is no or negligible rate of interest on them. But loans have a monthly interest rate which may or may not rise.
  4. The legal formalities and collateral assignments involved in loans are life-threatening but there is no such issue in advance payments.
  5. All Loans are Advances but all Advances are not loans.

 

Conclusión

So, which one do you feel is the right fit for you – loan or advance? Always make sure that both these terms link to money and they expect you to return it at no cost.

El préstamo es ofrecido por bancos que están altamente asegurados y realizan un cifrado de extremo a extremo, ya que mantener su información personal segura es su mejor nivel.

For personal growth or medical payments, advances can be a good choice over the loan. Again, for home loans or business, Loans are no doubt a great idea. Thus now you have a clear concept of these two financial terms. Choose wisely!


 

Referencias

  1. https://link.springer.com/chapter/10.1007/978-981-13-1498-8_53
  2. https://pdfs.semanticscholar.org/0e99/6238a801436a2d72882ddd0c0317a1ef5ab4.pdf
  3. https://www.nber.org/papers/w5660.pdf