Types of Financial Services

Types of Financial Services

Finance Service

There are many financial services available to people around the world. Here are the types of financial services available to the people to save, invest and get returns:

  1. Banking-

Banking is one of the most commonly used financial by almost everyone in the world. You can deposit your money in the bank and get interested as your return on the deposited sum. The interest of the deposit is according to the money deposited in the bank. Another service by the bank is that you can take loans (compare loans first) by paying interest to the bank for a particular period, it can be for a year or more. The money deposited in the money is invested by the bank in different business activities to obtain gains for the customers and pay them through the given interest. A small amount of money is paid as interest to the customers who have deposited the money in savings or checking accounts.

  1. Expert advisory services-

advisor

Financial advisories are used by many companies who can offer them financial advice to investors, the private equity funds and the customers. The main objective of these financial services is that they tend to cover different businesses involved in the management of money. The financial services also include banks, investment companies, insurance firms, and other government programs. Financial services even include the product and services provided by financial providers to the customers.

  1. Wealth Management-

In wealth management, the customers can deposit their money with some companies and have their monetary wealth managed by them. Some companies use this money to invest money across derivatives, commodity, money market, currency and a lot of various range of other assets for getting more returns for the customers.

  1. Mutual Funds-

By using mutual funds, you can get stable returns from these companies. The general debt and money returns are tracked by a debt fund. The equity mutual funds, on the other hand, provide the customers with returns which depends on the performance of the currency trading or the stock market. Ensure you know that mutual funds are subject to risk in the markets and can have offers that have to be read carefully before investing the money.

  1. Insurance-

Financial

There is a wide range of insurance policies you can avail which include general insurance, fire insurance, life insurance, marine insurance and also health insurance. These policies offer protection to the customers in different degrees and even cover you against any fire hazards, health risks, accident, damage from the death of loved ones and also virtually against any mishap. Each of these policies provided by the insurance companies extends for a specific period of time, and the customer has to check the guidelines and rules from time to time before signing on the dotted line.