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What is the difference between a service charge and a finance charge?
Wiki User
∙ 9y ago
A service charge is typically a charge for a specific action that a company performs on an account or an order. A finance charge is an amount of interest that is charged on an amount of principal owed by a customer.
Wiki User
∙ 9y ago
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Difference between a floating charge and a fixed charge?
fixed and floating charge
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Difference between interest rate and finance charge?
finance charge - This is the one time fees that the bank may charge for processing your loan Interest rate - This is the rate at which you must pay the bank interest for availing the loan during the loan tenure. Ex: Assuming you take a Rs. 1 lakh loan for 1 year at 10% fixed rate of interest and a 0.5% processing fee/finance charges ==> Monthly payment = 9166.67/- (Out of this Rs. 8333.33 would be principal repayment & Rs. 833.33 would be interest) Finance charges = Rs. 500/-
What is the difference between first pari passu charge and second pari passu charge?
In law, the difference between the first pari passu charge and second pari passu charge is the that the first charge means it is a simultaneous charge in favor of more than one person or lender and equal in all respects. The second charge would is subordinate to the first and is in favor of the previous person or lender.
Is there a minimum finance charge on the master card?
Minimum Finance charges have nothing to do with MasterCard and everything to do with your Financial Institution. Example of Financial Institution "US Bank". Any Credit Card, regardless of type, is going to have a minimum finance charge. You can find out how much the charge is by reading your Card member agreement. You can avoid interest or the minimum finance charge by paying the full balance on you credit card bill.
What is the difference between a running finance and a cash finance?
Cash finance is a term that means that the goods are pledged or released to the borrower against the cash payments only. The bank usually appoints a person who can be called a Care Taker for the goods and who reports to the bank after the release of goods. While the running finance is offered by the financial companies against the creation of charge on inventory or debtors which are of short term nature. The charge can be of any type say 1st charge, Ranking charge, pari pasu charge, etc. mortgages . It usually comes under the heading of the working capital finance.
What is the difference between a physical charge and a chemical charge?
Your telling me!
Difference between a floating charge and a fixed charge?
fixed and floating charge
What is the difference between a city criminal charge and a county criminal charge?
I live in Utah and I have found there is no difference
The difference between charge and current?
Charge is potential, current is flowing.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Difference in a charge between two electrodes in a cell causes a ----between electrodes?
Potential difference.
Difference between electrical current and electrical charge?
current is the flow of charge.
Calculate the average daily balance and finance charge?
Calculate the average balance and finance charge
What is the difference in charge between a proton and a neutron?
The proton has a +1 charge, while a neutron has no charge, and is neutral.
Difference between interest rate and finance charge?
finance charge - This is the one time fees that the bank may charge for processing your loan Interest rate - This is the rate at which you must pay the bank interest for availing the loan during the loan tenure. Ex: Assuming you take a Rs. 1 lakh loan for 1 year at 10% fixed rate of interest and a 0.5% processing fee/finance charges ==> Monthly payment = 9166.67/- (Out of this Rs. 8333.33 would be principal repayment & Rs. 833.33 would be interest) Finance charges = Rs. 500/-
