An Introduction to Interest Rates by John Mussi
Interest is one of the more important aspects of dealing with banks and other lenders… depending upon the type of account or loan that you're dealing with, the interest can either make you money or cost you money. A variety of different factors can determine how much interest you receive or how... Loan interest rates can depend upon several factors, including your credit rating, national and local interest rates, the type of loan that you're applying for, the amount of the loan, and even the collateral that you use to secure the loan.

A Guide to Finding the Right Bank for Your Needs by John Mussi
Whether you're looking for a bank at which to open a new savings account or you're simply unsatisfied with your previous bank and want to find a new place to do business, finding the bank that's right for you can sometimes be quite difficult. Of course, it doesn't have to be… it simply a matter... If you're looking for a loan instead, find out what the base interest rates that are charged for loans and whether your interest can be affected by the collateral that you use. ... Shopping around When comparing banks to find the right one to meet your needs, it's important to explore all of...

A Brief History of Banking by John Mussi
If you've ever wondered exactly how it is that modern banking originated, you're not alone. Though many of the practices of modern banking have come about only within the past one hundred years (or less), some of the early basis for modern banking can be traced back to the Middle Ages and before. ... Competition between moneylenders could be fierce, as well… after all, there was only so much of a market for their services to go around. ... Unlike modern banks, however, many of the moneylenders were corrupt and sought only to make as much profit as possible from those who needed their...

Defining Common Banking Terms by John Mussi
Banking is one of the most important industries in the world today… the economy of every country in the world flows through the various banks and financial institutions that exist in the world. There are times, though, that some of the terminology that's used in banks and the banking industry... This percentage of how much debt has been cleared from your property can be used as collateral for some types of loans, and can be an important factor in refinancing a home loan. ... Once the loan has been approved to pay for the purchase and all of the paperwork has been completed, various costs...

How Banking Works by John Mussi
Banks offer a large number of financial services, and pay you interest on at least some of them. Because of this, many people are quick to overlook the fact that banking is still a business, and banks need to make money to pay their employees, keep the utilities running, and make a profit for... Loans require that the borrowed amount be repaid with interest, and many chequeing accounts either charge a monthly maintenance fee or have other costs associated with them in addition to the overdraft fees and fines that are applied when you try to write a cheques for more than you have in your...

Getting Bank Loans When You Are Self Employed by Joseph Kenny
There was a time when being self-employed meant that you would have a very hard time ever getting any credit from a bank. This was pretty much accepted as one of the downsides to self-employment that would go hand in hand with all the benefits such as freedom to control your own working life and... The same basis will be applied to determine the amount of the loan you are eligible for, namely earnings. ... Therefore, if you are self-employed, you are now just as likely to be approved for a mortgage as anyone else.

Personal Loans? What Can They Do For You by V. Jain
Personal loans are loans that are taken out to fulfill miscellaneous needs unlike other loans that are used only for specific purposes, such as home loans, car loans, education loans, home improvement loans, etc. You can take out a personal loan whenever a need arises. ... The loan period ranges from a few months to a few years. ... Personal loans are available in a wide range of loan amounts and repayment terms. ... Another important element of a personal loan is its rate of interest. ... There are several modes of making a personal loan application.

Want to Break the Monotony of your Work? Try an Unsecured Holiday Loan by Robert Parker
For how long will you continue with the same monotonous routine of going to work early in the morning, returning home late evening and then going to bed? Aren’t you getting bored off your droning lifestyle? Take a break from work and enjoy the beauty of the world with a dream holiday tour. ... But the interest rates are higher in such cases and the creditor keeps a strict vigil over repayments by such borrowers So, if you want to avail an unsecured holiday loan you don’t need to run after brokers or visit finance company offices.

Endowments and Endowment Shortfalls - What You Need To Know by David Miles
Endowments and endowment mortgages have received a lot of bad press in recent years, amid concerns over falling policy values and accusations of endowment miss-selling. This article attempts to answer some of the questions and concerns you may have about the way endowments work, what's happening... Then there are interest-only mortgages, where your monthly payment to the lender is just the interest on the original loan and the mortgage debt remains unchanged. ... You can set up an additional investment, such as an individual savings account (ISA).

5 Simple Steps for Serious Saving and Financial Growth by Rhiannon Williamson
1) Pay off your loan, credit and store card debt and resist the temptation to keep on spending money you don’t yet have. Credit cards and store cards attract the highest rates of interest and are the most inefficient way to work your finances. The average annual percentage rate (APR) for credit... 4) Use a two tiered bank/savings account and earn better interest rates. ... If you don’t ask you don’t get - and few banks promote that they offer customers the option to bank and save at the same time.