Banking is confined to institutions like banks and credit unions that provide services such as savings and checking accounts, credit cards, and loans. For example, if you deposit your salary in a bank, they keep it safe and may even pay you interest. Banks also lend money to people who want to buy a house or start a business.
Finance is a broader term that involves managing money, investments, and financial planning. It includes personal finance (budgeting, saving, and investing), corporate finance (how businesses manage their money), and investment banking (helping companies raise money by selling stocks and bonds).
Hence, an easy way to remember is that banking is where you store and borrow money, while finance is how you grow and manage it.
Banking and finance are the major aspects that one should learn in his/her life, whether one is looking for a job placement in these particular sectors or not. Many platforms like Udemy, NIIT, and BASIC Academy provide training in these sectors. Well, I enrolled myself with BASIC Academy where the banking concepts which were earlier jargon were made crystal clear. Now, I’m placed in one of the top banks in India. If you have any queries related to our Mortgage training institute, please feel free to connect with us.