aditiahuja's blog

In entrepreneurial terms, capital refers to anything that contributes to the growth, development, and revenue of a business. It’s a term that encapsulates money held in bank accounts, manufacturing machinery, land, etc. Typically, if it helps with manufacturing, production or storage of a final product to generate revenue, it is termed as capital. That said, anything that undergoes manufacturing or processing doesn’t qualify as capital in itself.

An engineer loan, as the name suggests, is a short-term unsecured loan specifically customised for engineers. Leading financial institutions provide two types of loans under this category:

Personal loans – Ideal for expenses like weddings, home improvement, medical emergencies, exotic vacations, higher education, etc.

Business loans – Ideal for business-related expenses like purchasing new equipment, upgrading machinery, increasing working capital, etc.

Personal loans are one of the most popular short-term loans available in the Indian financial market. The total amount of advances at the end of the fiscal year 2018 reached Rs. 5,76,600 Crore, witnessing a 20.4% increase between 2017 and 2018.
These types of loans have become increasingly popular amongst salaried professionals. A growing number of professionals, including chartered accountants, opt for such loans to cover high-cost expenses without draining their savings.

Savings are an important feature in every household budget. But where should you put your savings in order to earn good returns? In this article, let’s find out about some of the best small saving schemes in India.