Types of Finance Finance in the modern era is divided into three parts.
Classification of Finance
There are many websites like Flipkart, Amazon, Myntra. From where the finance company finances the purchase of mobile or any other item. One of them is ZestMoney, if you buy any product by taking loan from here and you will return the loan amount in 3 to 6 months, then this company finances at Zero Percent (0%) interest rate. But if the time is more then interest will also have to be paid. Similarly, the classification of finance has been done on the basis of time.
Short Term Finance – When the loan is taken for a very short period (15 months), then this loan is called short term finance.
Medieval Finance – The tenure of this loan ranges from 15 months to 5 years and is aimed at manufacturing or property.
Long Term Finance – The loan taken for more than 5 years is called long term finance, its purpose is to build assets.
Many articles related to finance will be published in future also. If you are interested in financial education, then subscribe to Guruji Tips’ notification from your email below. There are some books for financial education that you can read. But, if there is no time to read a book, you can also watch YouTube videos. There are some YouTubers who are constantly making very informative videos on financial education.
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Hope you must have understood the meaning of the word Finance. Finance itself is a huge ocean. But it is very sad that financial education is not given in any educational institution. In such a situation, it is our endeavor to bring to you the understanding of financial education. If you also want to share something, then you can contact us.