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How nbfc is different from bank?

NBFC stands for Non-Banking Financial Company. An NBFC is a financial company that provides services like mortgage loans, financial advisory services etc but does not provide banking services like saving/checking accounts, fixed deposits etc. NBFC's can provide any financial service but they cannot collect deposits from customers whereas Commercial banks can accept deposits. This way, they are different from regular banks.


Do you accept monthly payments for your services/products?

Yes, we accept monthly payments for our services/products.


Why are banks necessary?

Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc.


Which is a non-depository financial institution?

A non-depository financial institution is an entity that does not accept deposits from customers but offers financial services and products. Examples include insurance companies, investment firms, and brokerage houses. These institutions may provide loans, investment opportunities, and financial advice, but they do not hold customer deposits like banks or credit unions do.


What is the role of the banking industry?

Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. Most commercial banks provide the following services to customers:Savings accountsChecking accountsFixed DepositsHome LoansPersonal and Auto loansCredit Cardsetc

Related Questions

Where are the chiropractic clinics that accept HFS Mediplan Card for services rendered please respond ASAP. Thank You. ?

You should contact Illinois Department of Human Services to find any chiropractic clinics that accept HFS Mediplan Card for services rendered.


What are merchant services and how do they help people?

Merchant services are a category of services for businesses in need of financial help. It helps companies accept transactions paid through debit or credit cards.


What are Non banking financial firms?

They are firms that do not accept customer deposits but provide services like share trading, derivatives, insurance etc to its customers.


How nbfc is different from bank?

NBFC stands for Non-Banking Financial Company. An NBFC is a financial company that provides services like mortgage loans, financial advisory services etc but does not provide banking services like saving/checking accounts, fixed deposits etc. NBFC's can provide any financial service but they cannot collect deposits from customers whereas Commercial banks can accept deposits. This way, they are different from regular banks.


Do you accept monthly payments for your services/products?

Yes, we accept monthly payments for our services/products.


I've broken a partial (three teeth together) and I don't have insurance. Will anyone accept a payment plan?

Any dentist will accept a payment plan in exchange in services, you will have to talk to the finance department for available payments and other options.


Different between non deposit taking institution and deposit taking?

NBFC stands for Non-Banking Financial Company. It is a company that provides financial services to customers but does not accept customer deposits and provide deposit accounts (like savings account, checking account etc.) A Bank is a deposit taking institution that provides banking and financial services to customers.


Why are banks necessary?

Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc.


What is the need of a bank?

Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc.


Which is a non-depository financial institution?

A non-depository financial institution is an entity that does not accept deposits from customers but offers financial services and products. Examples include insurance companies, investment firms, and brokerage houses. These institutions may provide loans, investment opportunities, and financial advice, but they do not hold customer deposits like banks or credit unions do.


How can one get a Department of Education student loan?

To get a Department of Education student loan, you must first complete the Free Application for Federal Student Aid (FAFSA). This application will determine your eligibility for federal financial aid, including loans. Once you have completed the FAFSA, the Department of Education will send you a financial aid offer that may include federal student loans. You can then accept the loan and proceed with the necessary paperwork and agreements.


What is the role a bank play as an intermediary?

Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc.