NAB personal banking financial solutions include internet banking, accounts, insurance, credit cards, home loans and personal loans
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e. the borrower) incurs a debt, and is usually liable to pay interest on that debt until it is repaid, and also to repay the principal amount borrowed. The document evidencing the debt, e.g. a promissory note, will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks and credit card companies. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.
Finance is a field that is concerned with the allocation (investment) of assets and liabilities over space and time, often under conditions of risk or uncertainty. Finance can also be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance.
Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
In chemistry, a solution is a special type of homogeneous mixture composed of two or more substances. In such a mixture, a solute is a substance dissolved in another substance, known as a solvent. The mixing process of a solution happens at a scale where the effects of chemical polarity are involved, resulting in interactions that are specific to solvation. The solution assumes the phase of the solvent when the solvent is the larger fraction of the mixture, as is commonly the case. The concentration of a solute in a solution is the mass of that solute expressed as a percentage of the mass of the whole solution. The term "aqueous solution" is used when one of the solvents is water.
The Internet (portmanteau of interconnected network) is the global system of interconnected computer networks that use the Internet protocol suite (TCP/IP) to link devices worldwide. It is a network of networks that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web (WWW), electronic mail, telephony, and file sharing. The origins of the Internet date back to research commissioned by the federal government of the United States in the 1960s to build robust, fault-tolerant communication with computer networks. The primary precursor network, the ARPANET, initially served as a backbone for interconnection of regional academic and military networks in the 1980s. The funding of the National Science Foundation Network as a new backbone in the 1980s, as well as private funding for other commercial extensions, led to worldwide participation in the development of new networking technologies, and the merger of many networks. The linking of commercial networks and enterprises by the early 1990s marked the beginning of the transition to the modern Internet, and generated a sustained exponential growth as generations of institutional, personal, and mobile computers were connected to the network. Although the Internet was widely used by academia since the 1980s, commercialization incorporated its services and technologies into virtually every aspect of modern life. Most traditional communication media, including telephony, radio, television, paper mail and newspapers are reshaped, redefined, or even bypassed by the Internet, giving birth to new services such as email, Internet telephony, Internet television, online music, digital newspapers, and video streaming websites. Newspaper, book, and other print publishing are adapting to website technology, or are reshaped into blogging, web feeds and online news aggregators. The Internet has enabled and accelerated new forms of personal interactions through instant messaging, Internet forums, and social networking. Online shopping has grown exponentially both for major retailers and small businesses and entrepreneurs, as it enables firms to extend their "brick and mortar" presence to serve a larger market or even sell goods and services entirely online. Business-to-business and financial services on the Internet affect supply chains across entire industries. The Internet has no single centralized governance in either technological implementation or policies for access and usage; each constituent network sets its own policies. The overreaching definitions of the two principal name spaces in the Internet, the Internet Protocol address (IP address) space and the Domain Name System (DNS), are directed by a maintainer organization, the Internet Corporation for Assigned Names and Numbers (ICANN). The technical underpinning and standardization of the core protocols is an activity of the Internet Engineering Task Force (IETF), a non-profit organization of loosely affiliated international participants that anyone may associate with by contributing technical expertise. In November 2006, the Internet was included on USA Today's list of New Seven Wonders.
A home, or domicile, is a living space used as a permanent or semi-permanent residence for an individual, family, household or several families in a tribe. It is often a house, apartment, or other building, or alternatively a mobile home, houseboat, yurt or any other portable shelter. A principle of constitutional law in many countries, related to the right to privacy enshrined in article 12 of the Universal Declaration of Human Rights is the inviolability of the home as an individual's place of shelter and refuge. Homes typically provide areas and facilities for sleeping, preparing food, eating and hygiene. Larger groups may live in a nursing home, children's home, convent or any similar institution. A homestead also includes agricultural land and facilities for domesticated animals. Where more secure dwellings are not available, people may live in the informal and sometimes illegal shacks found in slums and shanty towns. More generally, "home" may be considered to be a geographic area, such as a town, village, suburb, city, or country.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risk, especially if the primary insurer deems the risk too large for it to carry.