bank loan or bank advance

bank loan

 or 

bank advance

 the advance of a specified sum of money to an individual or business (theborrower) by a COMMERCIAL BANK, SAVINGS BANK. etc. (the lender). A bank loan is a form of CREDIT which isextended for a specified period of time, usually on fixed-interest terms related to the base rate of interest, with the principalbeing repaid either on a regular instalment basis or in full on the appointed redemption date. Depending upon the nature ofthe loan and the degree of risk involved, a bank loan may be unsecured or secured, the latter requiring the borrower todeposit with the bank an approved form of COLLATERAL SECURITY (for example the property deeds to his house). In thecase of businesses, bank loans are usually renegotiated shortly before expiring, thus providing the borrower with a‘revolving’ line of credit used mainly to finance WORKING CAPITAL requirements. See OVERDRAFT, INTEREST RATE.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

bank loan

 the advance of a specified sum of money to an individual or business (the borrower) by a COMMERCIAL BANK, SAVINGS BANK, etc. (the lender). A bank loan is a form of CREDIT that is often extended for a specified period oftime, usually on fixed-interest terms related to the base INTEREST RATE, with the principal being repaid either on a regularinstalment basis or in full on the appointed redemption date. Alternatively, a bank loan may take the form of overdraftfacilities under which customers can borrow as much money as they require up to a pre-arranged total limit and are chargedinterest on outstanding balances. In the case of business borrowers, bank loans are used to finance WORKING CAPITALrequirements and are often renegotiated shortly before expiring to provide the borrower with a ‘revolving’ line of credit.

Depending on the nature of the loan and the degree of risk involved, bank loans may be unsecured or secured, the latterrequiring the borrower to deposit with the bank COLLATERAL SECURITY (e.g. title deeds to a house) to cover againstdefault on the loan.

Axis Bank has entered into a corporate agency agreement with Max Life Insurance Co. Ltd., one of the most reputed Life Insurance companies in India. Axis Bank is in line with its core values of customer centricity, ethics, transparency, teamwork and ownership has entered into this arrangement to distribute the best Life Insurance solutions to its customers. This arrangement also earmarks the first step to top-class customer service by setting up dedicated Max Life Toll Free helpline and technology integration in bank branches to cater to Axis Bank customer queries who have bought Max Life insurance policies.

This arrangement is complemented by Max Life Insurance's flexible product suite, service excellence, and financial strength and internationally benchmarked training processes, which ensure that we are able to deliver the true value of life insurance to our customers. The product suite offered to our customers is based on the core needs of life insurance for an individual.

Disclaimer

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited . and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002 (Haryana). For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to applicable tax laws prevailing at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation. IRDAI Reg. No.: 104. For further details, call Toll free number 1800-200-4006

Life Insurance products are offered and underwritten by Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd. Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDAI Corporate Agent License No: 1891411. The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products. Advertisement Reference Number - Max Life/Axis/Website/Jan 2016

Axis Bank Limited has entered into a corporate agency agreement with Tata AIG General Insurance Company Limited since 2013. Tata AIG General Insurance Company Limited is a joint venture between Tata Group and American International Group (AIG). Tata AIG General Insurance Company Limited celebrated 16 years of service since it commenced operations in India on January 22, 2001. This association leverages the strengths of both the companies, bringing Axis Bank Limited customers a comprehensive suite of general insurance products such as Motor, Health, Personal Accident, Travel, Home, Fire & Commercial line insurance products. Each product offering is backed by Tata AIG General Insurance Company Limited professional expertise.We have undertaken initiatives that help our customers buy these products with ease and transparency. Technology and integration of processes are key aspects of this evolving partnership.

Axis Bank offers uniquely tailored Car Loan products that take the pain and hassle out of buying a car. Flexible, transparent, quick, and cost-effective, our Car Loans put the joy back into owning a car.

At Axis Bank, we realize that owning a car has increasingly become a necessity. But we also realize that the price tag of your dream car may be just outside your immediate grasp. Axis Bank's Auto Loans are just what you need to bridge the gap.

• Get up to 85% on-road funding for up to 7 years tenure
• Car Loan value calculated on ex-showroom price of the vehicle
• Attractive interest rates on Car Loans
• LTV up to 95% of the ex-showroom price on select models
• Auto loans available for salaried and self-employed individuals, proprietorships, HUF, Partnership firms, Limited Liability Partnership Firms, Trusts, Societies and Companies
• Banking surrogate schemes available
• Loans offered from Rs. 1 Lakh onward
• Car Loans tenure from 1 year to 7 years
• Calculate your monthly outgo with our Car Loan EMI Calculator
• Special benefit available for Priority Banking, Wealth Banking and Privee banking customers. To know more, contact your Relationship Manager today!
• Special Surrogate Scheme available for Club 50 and Channel One Current Account customers
• Special Scheme for Axis Bank Salary A/C customers
• Loan available to Salaried NRI customers on the basis of income

All of the above is subject to terms and conditions.

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