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yes depending on the interest rate and amount of monthly payment
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What is a bank balance?
A bank balance is the amount by which a current account is in credit or deficit.
Where are credit banks situated?
Credit banks hold the amount of credit available in the banking system. Credit banks are situated at different places; the actual situation of the credit bank depends on the bank itself.
If someone is in debit how often will the banks reduce their credit access?
If someone is in debit the bank can reduce their credit access several times, according to the credit amount and several other factors which can be different from bank to bank.
What are the three difference between a bank and a credit union?
A bank holds and stores money, and a credit union is for a temporary holding for money, and your only suppose to have a certain amount of money in the credit union
How can a bank guarantee be discounted?
A bank guarantee is issued by a bank to perform a task or to repay a loan by a borrower. It can be discounted when it is offered by the payee or last endorsee and the bank will pay and collect the amount from the drawer.
What is a bank balance?
A bank balance is the amount by which a current account is in credit or deficit.
Where are credit banks situated?
Credit banks hold the amount of credit available in the banking system. Credit banks are situated at different places; the actual situation of the credit bank depends on the bank itself.
If someone is in debit how often will the banks reduce their credit access?
If someone is in debit the bank can reduce their credit access several times, according to the credit amount and several other factors which can be different from bank to bank.
How can you get a letter of credit?
Buyer (the importer) has to contact their bank (called issuing bank) to establish a letter of credit in favor of seller (importer) through importer bank (also called advising bank) to get a letter of credit, bank will keep some marginal amount as deposit.
Bulk posting charges in sbi bank?
by happening this bank will credit some amount for customer account
What are the three difference between a bank and a credit union?
A bank holds and stores money, and a credit union is for a temporary holding for money, and your only suppose to have a certain amount of money in the credit union
How to make credit card payment through cheque entry in tally?
Dr. Credit card amount XYZ Cr. Bank Account amount XYZ
Why does your bank statement show a credit for an increase in your cash balance?
It's because the bank statement is written from the POV (bank's point of view). In the double entry system, a debit entry is an increase in an asset or expense/decrease in income or a liability while a credit entry is an increase in a liability or income/decrease in an asset or expense. When you pay money into the bank this increases the amount the bank owes you or decreases the amount you owe the bank. From the bank's point of view this means an increase in the amount they owe you (their liabilities have increased) or a decrease in the amount you owe them (their assets have decreased). Hence, an increase in your cash balance at the bank is a credit entry on the statement your bank sends you.
How First gulf bank re collect their credit card payment in India?
Illegal harassment by local recovery agencies.
Do you have to have a bank account with the bank that issues the credit card?
No - in most cases. As long as the credit card issuer can determine your credit worthiness, it doesn't matter where your bank account is. There is one exception. If you apply for a secured credit card, you must keep a 'security deposit' of a certain amount in the institution chosen by the credit card issuer (usually their own bank).
How do you record bouncing charges?
Fees charged by a financial institution for return of a check (whether because of insufficient funds, closed account, etc.) are generally recorded as "Bank Fees" debit in the General Ledger. If someone gave you a check that bounced but you later collect the check amount and the bank fee, record the bank fee received as a credit in the "Bank Fee" category.
How can a bank guarantee be discounted?
A bank guarantee is issued by a bank to perform a task or to repay a loan by a borrower. It can be discounted when it is offered by the payee or last endorsee and the bank will pay and collect the amount from the drawer.
