Key Difference – Cash Book Balance vs Bank Statement Balance Cash balance at the bank of a company and the cash balance maintained at the company’s cash book often do not match due to a number of factors. Thus, companies are required to perform bank reconciliation that showcases the difference between the cash balance […]
Difference Between Secured and Unsecured Credit Card
Key Difference – Secured vs Unsecured Credit Card Credit cards are issued by financial institutions such as banks, stores, or service providers and customers that fulfill pre-determined criteria are entitled to apply for the same, subject to a credit limit. Credit card balances are rolling, where a portion of the due amount has to […]
Difference Between Lending Rate and Borrowing Rate
Key Difference – Lending Rate vs Borrowing Rate The key difference between lending rate and borrowing rate is that lending rate is the rate banks and other financial institutions use to lend funds in the form of loans to their customers whereas borrowing rate is the rate at which commercial banks borrow from the […]
Difference Between APR and Note Rate
Key Difference – APR vs Note Rate Both individuals and businesses apply for loans to fulfill capital requirements. Loans for capital projects and mortgage loans are common types of such loans. APR (Annual Percentage Rate) and Note rate are two important rates than should be considered before selecting a suitable borrowing option. The key difference […]
Difference Between Basel 1 2 and 3
Key Difference – Basel 1 vs 2 vs 3 Basal accords are introduced by Basel Committee of Banking Supervision (BCBS), a committee of banking supervisory authorities that was incorporated by the central bank governors of the Group of Ten (G-10) countries in 1975. The main objective of this committee is to provide guidelines for […]
Difference Between Bank Rate and Base Rate
Key Difference – Bank Rate vs Base Rate Knowledge regarding bank rate and base rate is important for both borrowers and lenders in order to understand how these rates are affected by various economic conditions and government policies. The key difference between bank rate and base rate is that the bank rate is the […]
Difference Between Bank Draft and Certified Cheque
Bank Draft vs Certified Cheque Bank draft and certified cheque are among the different services banks offer to their customers, as such it is beneficial to know the difference between bank draft and certified cheque. More specifically, bank drafts and certified cheques are both payment mechanisms that are made available to bank customers. Both bank […]
Difference Between Account Balance and Available Balance
Account Balance vs Available Balance Although they sound similar to each other, there is a difference between account balance and available balance. Available balance directly affects the cash deposits or withdrawals, but the account balance in the bank account takes time to update the changes, either cash increases for the deposits or cash reduces […]
Difference Between Cheque and Demand Draft
Cheque vs Demand Draft Businesses and individuals use a number of payment mechanisms to transfer funds, settle transactions and make payments. Most of these transactions occur through the aid of banks and financial institutions. Cheques and demand drafts are two such methods used for transferring funds and making payments. Despite them serving the same […]
Difference Between Bank Draft and Cheque
Bank Draft vs Cheque Cheques and bank drafts are services that are provided by a bank to its customers in order to make payments for goods and services. While they may sound similar to one another there are a number of important differences. The main difference being that a cheque is issued by the […]
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