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Home equity loan, also known as the second mortgage, ENABLES you to borrow money against the VALUE of equity in your home. For example, if the value of the home is $1, 50,000 and you have paid $50,000. The balance owed on your mortgage is $1, 00,000. The AMOUNT $50,000 is an equity, which is the difference of the actual value of the home and what you owe to the bank. Based on equity the lender will give you a loan. Usually, the applicant will get 85% of the loan on its equity, CONSIDERING your income and credit score. In this case, you will get 85% of $50,000, which is $42,500.

Home equity loan, also known as the second mortgage, enables you to borrow money against the value of equity in your home. For example, if the value of the home is $1, 50,000 and you have paid $50,000. The balance owed on your mortgage is $1, 00,000. The amount $50,000 is an equity, which is the difference of the actual value of the home and what you owe to the bank. Based on equity the lender will give you a loan. Usually, the applicant will get 85% of the loan on its equity, considering your income and credit score. In this case, you will get 85% of $50,000, which is $42,500.

There is not MUCH difference between bank guarantee and letter of CREDIT as they both take the liability of payment. A bank guarantee contains more RISK for a bank than a letter of credit as it is protecting both PARTIES the PURCHASER and seller.

There is not much difference between bank guarantee and letter of credit as they both take the liability of payment. A bank guarantee contains more risk for a bank than a letter of credit as it is protecting both parties the purchaser and seller.

• Checking ACCOUNT: You can access the account as the saving account but, unlike saving account, you cannot earn interest on this account. The benefit of this account is that there is no LIMIT for withdrawal.
• Saving Account: You can save your money in such account and also earn interest on it. The number of withdrawal is limited and need to maintain the minimum amount of balance in the account to remain ACTIVE.
• Money Market Account: This account gives benefits of both saving and checking accounts. You can withdraw the amount and yet you can earn higher interest on it. This account can be opened with a minimum balance.
• CD (Certificate of Deposits) Account: In such account you have to deposit your money for the fixed period of TIME (5-7 years), and you will earn the interest on it. The rate of interest is DECIDED by the bank, and you cannot withdraw the funds until the fixed period expires.

This one is a no-brainer. If the candidate doesn't describe your company's CULTURE, run the other way. The person has not only just told you in no uncertain terms that he will not fit in, but ALSO just let you KNOW that he did not do his INTERVIEW homework.

This one is a no-brainer. If the candidate doesn't describe your company's culture, run the other way. The person has not only just told you in no uncertain terms that he will not fit in, but also just let you know that he did not do his interview homework.

Sir, the 27th public sector BANK in India is Bhartiya Mahila Bank. It was created by Finance Bill 2012. The first BMB was opened in Mumbai on 19th NOVEMBER 2013 on the 94th birth anniversary of Indira Gandhi. India is the third country in the world to have a bank especially for women after Pakistan and TANZANIA.

• Tagline- “women empowerment economically”.
• Head- Usha Anantha Subramanayam
• The bank allows deposit from everyone, but lending will be FOCUSED for women.
• This bank is very important because it is the latest and 27th PSB of India. So, try to know every basic point about BMB.

Initial CAPITAL of Rs. 1000 crore.

Similarly, if there has been some other initiative in that year, you should be well aware of it.

Sir, the 27th public sector bank in India is Bhartiya Mahila Bank. It was created by Finance Bill 2012. The first BMB was opened in Mumbai on 19th November 2013 on the 94th birth anniversary of Indira Gandhi. India is the third country in the world to have a bank especially for women after Pakistan and Tanzania.

Initial capital of Rs. 1000 crore.

Similarly, if there has been some other initiative in that year, you should be well aware of it.

The date on which the principal amount of a LOAN becomes due and payable is KNOWN as ‘Loan Maturity'. Yield is commonly referred as the dividend, interest or return the investor receives from a SECURITY LIKE stock or bond, interest on FIX deposit etc. For example, any investment for $10,000 at interest rate of 4.25%, will give you a yield of $425.

The date on which the principal amount of a loan becomes due and payable is known as ‘Loan Maturity'. Yield is commonly referred as the dividend, interest or return the investor receives from a security like stock or bond, interest on fix deposit etc. For example, any investment for $10,000 at interest rate of 4.25%, will give you a yield of $425.

Foreign DRAFT is an alternative to foreign CURRENCY; it is generally used to SEND MONEY to a foreign country. It can be purchased from the commercial banks, and they will charge according to their banks rules and norms. People opt for ‘foreign draft' for sending money as this method of sending money is cheaper and safer. It also enables receiver to access the funds quicker than a cheque or cash transfer.

Foreign draft is an alternative to foreign currency; it is generally used to send money to a foreign country. It can be purchased from the commercial banks, and they will charge according to their banks rules and norms. People opt for ‘foreign draft' for sending money as this method of sending money is cheaper and safer. It also enables receiver to access the funds quicker than a cheque or cash transfer.

The DEBT-to-income RATIO is calculated by dividing a LOAN APPLICANT's total debt payment by his GROSS income.

The debt-to-income ratio is calculated by dividing a loan applicant's total debt payment by his gross income.

OVERDRAFT protection is a service that is provided by a bank to their customer. For instance, if you are holding two accounts, saving and credit account, in the same bank. Now if one of your accounts does not have enough cash to process the cheques, or to cover the purchases. The bank will transfer MONEY from one account to another account, which does not have cash so to PREVENT check RETURN or to clear your shopping or electricity BILLS.

Overdraft protection is a service that is provided by a bank to their customer. For instance, if you are holding two accounts, saving and credit account, in the same bank. Now if one of your accounts does not have enough cash to process the cheques, or to cover the purchases. The bank will transfer money from one account to another account, which does not have cash so to prevent check return or to clear your shopping or electricity bills.

For certain LOAN, there is a PROVISION for the borrower to change the interest rate from fixed to VARIABLE and VICE versa is REFERRED as Convertibility Clause.

For certain loan, there is a provision for the borrower to change the interest rate from fixed to variable and vice versa is referred as Convertibility Clause.

A NATIONALIZED bank is owned by the GOVT. of that country and is ALSO KNOWN as public SECTOR bank whereas a private sector bank is owned by an independent individual or company.

A nationalized bank is owned by the govt. of that country and is also known as public sector bank whereas a private sector bank is owned by an independent individual or company.

A pay-day loan is generally, a small amount and a short-term loan AVAILABLE at HIGH interest RATE. A borrower normally writes post-dated cheques to the lender in respect to the amount they wish to BORROW.

A pay-day loan is generally, a small amount and a short-term loan available at high interest rate. A borrower normally writes post-dated cheques to the lender in respect to the amount they wish to borrow.

There are TWO types of CARD PAYMENTS:

• CREDIT Card
• Debit Card

There are two types of card payments:

Adjustment credit is a short-TERM loan made by the Federal RESERVE Bank (U.S) to the commercial bank to MAINTAIN reserve REQUIREMENTS and support short term lending, when they are short of CASH.

Adjustment credit is a short-term loan made by the Federal Reserve Bank (U.S) to the commercial bank to maintain reserve requirements and support short term lending, when they are short of cash.

A bank is a financial institution licensed as a receiver of CASH deposits. There are two types of banks, COMMERCIAL banks and INVESTMENT banks. In most of the countries, banks are regulated by the national government or central bank.

A bank is a financial institution licensed as a receiver of cash deposits. There are two types of banks, commercial banks and investment banks. In most of the countries, banks are regulated by the national government or central bank.

When any COMPANY BORROWS funds, from a financial institution (BANK) or other resources the interest PAID on that amount is known as ‘cost of DEBT'.

When any company borrows funds, from a financial institution (bank) or other resources the interest paid on that amount is known as ‘cost of debt'.

Charge off is a declaration by a lender to a borrower for non-payment of the remaining AMOUNT, when borrower badly FALLS into debt. The unpaid amount is SETTLED as a BAD debt.

Charge off is a declaration by a lender to a borrower for non-payment of the remaining amount, when borrower badly falls into debt. The unpaid amount is settled as a bad debt.

‘BILL DISCOUNT' is a settlement of the bill, where your electricity bill or gas bill is sold to a bank for EARLY payment at less than the face value and the bank will recover the full amount of the bill from you before bill due date. For example, electricity bill for XYZ is $1000; the electricity bill company will sell the bill to the bank for 10% to 20% discount to the face value. Here, the bank will buy the electricity bill for $900 whose face value is $1000, now the bank will recover, full amount of bill from the customer i.e $1000. If the customer fails to PAY the bill, the bank will put interest on the outstanding bill and ask the customer for the payment.

‘Bill Discount' is a settlement of the bill, where your electricity bill or gas bill is sold to a bank for early payment at less than the face value and the bank will recover the full amount of the bill from you before bill due date. For example, electricity bill for XYZ is $1000; the electricity bill company will sell the bill to the bank for 10% to 20% discount to the face value. Here, the bank will buy the electricity bill for $900 whose face value is $1000, now the bank will recover, full amount of bill from the customer i.e $1000. If the customer fails to pay the bill, the bank will put interest on the outstanding bill and ask the customer for the payment.

The FINAL value of all the GOODS and services produced under the geographical area of a country is the Gross Domestic Product of that country. GDP is calculated at CONSUMPTION, investment and exports and imports are subtracted from the sum of these THREE. 

The final value of all the goods and services produced under the geographical area of a country is the Gross Domestic Product of that country. GDP is calculated at consumption, investment and exports and imports are subtracted from the sum of these three. 

‘LIBOR' stands for London Inter-Bank Offered Rate. As the name suggest, it is an average interest rate offered for U.S DOLLAR or Euro dollar deposited between GROUPS of London banks. It is an international interest rate that follows world economic condition and USED as a base rate by banks to set interest rate. LIBOR comes in 8 MATURITIES from overnight to 12 months and in 5 different currencies. Once in a day LIBOR announces its interest rate.

‘LIBOR' stands for London Inter-Bank Offered Rate. As the name suggest, it is an average interest rate offered for U.S dollar or Euro dollar deposited between groups of London banks. It is an international interest rate that follows world economic condition and used as a base rate by banks to set interest rate. LIBOR comes in 8 maturities from overnight to 12 months and in 5 different currencies. Once in a day LIBOR announces its interest rate.

Basically, ‘prime rate' is the rate of interest that is decided by nations (U.S.A) largest banks for their preferred customers, having a GOOD credit score. Much ‘variable' interest depends on the ‘prime rates'. For example, the ‘APR' (Annual PERCENTAGE Rate) on a credit card is 10% plus prime rate, and if the prime rate is 3%, the current ‘APR' on that credit card WOULD be 13%.

Basically, ‘prime rate' is the rate of interest that is decided by nations (U.S.A) largest banks for their preferred customers, having a good credit score. Much ‘variable' interest depends on the ‘prime rates'. For example, the ‘APR' (Annual Percentage Rate) on a credit card is 10% plus prime rate, and if the prime rate is 3%, the current ‘APR' on that credit card would be 13%.

The bank earns profit in various ways:

• Banking value chain
• Accepting deposit
• Providing funds to borrowers on interest
• Interest spread
• Additional CHARGES on services like checking account MAINTENANCE, online bill payment, ATM TRANSACTION

The bank earns profit in various ways:

You should answer this question with specific EXAMPLES of methods you use to delegate TASKS, “For each staff member I create a sheet of detailed, relevant tasks and ESTIMATED deadlines. I then meet with each staff member individually to ensure they also agree to the deadlines and answer any questions they have. I also schedule regular work in PROGRESS meetings to check in on their status.”

You should answer this question with specific examples of methods you use to delegate tasks, “For each staff member I create a sheet of detailed, relevant tasks and estimated deadlines. I then meet with each staff member individually to ensure they also agree to the deadlines and answer any questions they have. I also schedule regular work in progress meetings to check in on their status.”

A system to reduce the number of credit checks on financial TRANSACTION is known as credit-netting. Such agreement occurs normally between large banks and other financial institutions. It places all the future and CURRENT transaction into one agreement, removing the NEED for credit CHEQUES on each transaction.

A system to reduce the number of credit checks on financial transaction is known as credit-netting. Such agreement occurs normally between large banks and other financial institutions. It places all the future and current transaction into one agreement, removing the need for credit cheques on each transaction.

Management job interview questions about motivating staff or delegating tasks are common in management interviews. When you answer them you should FOCUS on communication and TEAM building, “I do my BEST to show recognition and ACKNOWLEDGEMENT to all employees that meet goals, which keeps morale high and employees on task. ALSO, when applicable, I keep tasks interdependent within the team, so that staff members require and encourage fellow staff members to complete their work.”

Management job interview questions about motivating staff or delegating tasks are common in management interviews. When you answer them you should focus on communication and team building, “I do my best to show recognition and acknowledgement to all employees that meet goals, which keeps morale high and employees on task. Also, when applicable, I keep tasks interdependent within the team, so that staff members require and encourage fellow staff members to complete their work.”

When REPAYMENT of the loan is less than the loans accumulated interest, then NEGATIVE Amortization OCCURS. It will increase the loan amount instead of decreasing it. It is also known as ‘DEFERRED interest'.

When repayment of the loan is less than the loans accumulated interest, then negative Amortization occurs. It will increase the loan amount instead of decreasing it. It is also known as ‘deferred interest'.

A CROSSED CHEQUE indicates the AMOUNT should be deposited into the payees ACCOUNT and cannot be cashed by the bank over the counter. Here in the image, number#2, you can see TWO cross-lines on the left side corner of the cheque that indicates crossed cheque.

A crossed cheque indicates the amount should be deposited into the payees account and cannot be cashed by the bank over the counter. Here in the image, number#2, you can see two cross-lines on the left side corner of the cheque that indicates crossed cheque.

A CASHIER cheque issued by the bank on behalf of the customer and takes the GUARANTEE for the payment. The payment is DONE from the bank's own funds and SIGNED by the cashier. The cashier cheque is issued when rapid settlement is necessary.

A cashier cheque issued by the bank on behalf of the customer and takes the guarantee for the payment. The payment is done from the bank's own funds and signed by the cashier. The cashier cheque is issued when rapid settlement is necessary.

‘ENDORSING CHEQUE' ENSURES that the cheque get DEPOSITED into your account only. It minimizes the risk of theft. Normally, in endorsing cheque, the cashier will ASK you to sign at the back of the cheque. The signature should match the payee. The image over here shows the endorsed cheque.

‘Endorsing cheque' ensures that the cheque get deposited into your account only. It minimizes the risk of theft. Normally, in endorsing cheque, the cashier will ask you to sign at the back of the cheque. The signature should match the payee. The image over here shows the endorsed cheque.