Difference Between Loans and Advances

August 8, 2015 By Surbhi S 1 Comment

loans vs advancesThe requirement of funding is the core requirement of every entity. Due to this, the role of loans and advances is increasing, in the day to day life. These two terms are always uttered in a flow, but Have you ever tried to understand their true meanings? Loans refer to a debt provided by a financial institution for a particular period while Advances are the funds provided by the banks, which needs to be payable within one year. After a detailed research on the two terms, we are here compiling an article, in which you will find all the necessary differences between loans and advances.