Ask For Higher Interest Accounts

Banks have accounts with different rates of interest. It’s in their interest if you are opting for an account with a lesser rate of interest. So, it’s obvious that they won’t advertise the account with a high rate of interest. It’s up to you to find out about the accounts offering higher interest rates.

Know The Exact Meaning OF Each Term

While signing a document, read it thoroughly. You may come across many terms typical to the banking sector which will intimidate you. Don’t pretend to know them. Ask for help. Ask the bank official to explain each term and the implications before you sign the document. This may take lot of precious time of the bank official, but in the long run it’ll be benefitting for you.

Small Business Loans

If you are a small business owner looking for a bank loan, then be clear as the chances of rejection are high. Many banks consider small business loans as nuances and are biased against small business owners. They are apprehensive about you defaulting on the payments and running after you for collecting their money is a process they want to avoid at any cost-even at the cost of rejecting your loan application.

Read More:

How To Teach Your Kid Money Management

Chidambaram Lays Down Rules For Regulators