Remittance Remittance refers to the act of sending money or payment from one place to another, typically from one country to another. Remittances are usually sent by individuals to their families or friends who are living in another country, or by businesses to their suppliers or partners overseas. VIEW ALL

A term deposit, also known as a fixed deposit or time deposit, is a type of savings account offered by banks or financial institutions. With a term deposit, you deposit a fixed amount of money with a bank or financial institution for a set period of time, typically ranging from a few months to several years.earn interest on the balance.

A loan is a sum of money borrowed by an individual, organization, or entity from a lender with the agreement to pay back the borrowed amount with interest over a predetermined period of time. Loans are typically taken out to finance large purchases such as a car, home, or business expenses. The terms of the loan, including the interest rate, repayment period, and any fees or penalties, are outlined in a loan agreement between the borrower and the lender.

A savings deposit is a type of deposit account that is offered by banks and other financial institutions. It is designed to help individuals and businesses save money and earn interest on their savings. When you open a savings account, you deposit your money into the account and earn interest on the balance.