In banks, individuals will deposit their amount and will transact as per their personal needs called savings account. There are several types of saving account. In public sector banks to open a savings account the minimum balance will be low where as in private sector banks the minimum balance will be more. As per their client transaction Cheques and ATM cards will be issued and particularly in private sector banks these things can be received quickly. In a savings account for depositing more than 50,000 pan card will be mandatory. As of now, 4% interest is given to the savings account holders.
The person who holds account in a bank can avail this facility for keeping their ornaments like gold and silver and other important documents. The person who is availing the safety locker facility will be given a security password and pin number and for these annual maintenance costs will be deducted from them.
Banks that provide savings account, housing and vehicle loans, debit and credit cards and personal loans to individuals is called as retail banking.
An individual who trades the stock with their own trading account is called retail investor.
If an investor is getting loans on the basis of credit card then the interest he has to pay from the loan start date to end date is called residual interest. This is also called as trailing interest. The interest will charged every month on deducting the amount you are paying back.
An organization that provides bonus other than salary in order to make their employees happy and retain the best employees called the retention bonus.
Financial consultants will help the individuals prepare a retirement period plan called retirement planner. Assessing the amount that will be spent during the retirement period and to create an asset for that using savings and investment plans called as retirement planner.
What is Residual Income?
Buying an individual’s salary and personal expenses, the remaining amount as a credit reference called Residual Income. After calculating all debts and expenses, then later calculating The “Residual Income”. Based on “Residual Income,” calculation the bank will give loan to private individuals. This is known as “Take Home Salary”.
Who Is ‘Secondary Beneficiary”
The owner of the property at the time of his death, the person who mentioned in deed can get the property is referred to as Secondary Beneficiary. In general, financial assets, such as insurance compensation Secondary Beneficiary has the right to the provision.
What is Ticker Symbol?
The stocks trading in the stock market will have an individual indicator provided by the exchange called s ticker symbol. It will be about numbers and letters. If it is traded in exchange then it will be applicable to mutual fund also.
What is Touchline?
Determining the highest price to buy a stock (best buying price) and in the same way determining the lowest price to sell a stock (best selling price) indicates the touchline. In stocks where the volume is huge the gap will be less and in stocks where the volume is less the gap will be more.