Personal finance company
A personal finance company is a financial institution such as Bank, Insurance Company, Mutual Fund etc. which is constituted under the specific company laws of the country.In fact, a personal finance company is also a registered company who works in the financial sectors. The main task of any personal finance company is lending and Deposits. Among the other associated services of a personal finance company includes credit Cards, Securities, financial consultancy etc. The personal finance company works under the guideline of the central bank of any country such as Federal Reserve of USA and RBI of India. BRIEF DETAILS:
The brief details about some of the main personal finance companies of USA are given below:
1. Wachovia corporation :
Wachovia Corporation is a leading financial institution in USA. This Carolina based financial Institution provides its services in all the fields of personal finance such as Savings CDs, Credit Cards, Mortgage Loans, Equity line of Credits, Jumbo Loans, Investment Bonds etc. The Contact Address of the Company :
WACHOVIA CORPORATION,301 South Carolina Street Suite 4000,Charlotte, N. Carolina- 28288-0013
Phone: 704-590-0000 ,800-922-4684(Customer Service) &
800-922-6267 ( for loan enquiry)
a) High performance money market savings account :
This is a market based savings accounts of Wachovia which provides market based APR(Variable). The key features of this account are:
1. Minimum opening Balance required is $2,500,
2. Variable APR and interests are added into the account on monthly basis,
3. Higher APR (variable) for higher deposits in the account,
4. Complete online banking with 24/7 hours ATMs service, Customer Service via Phone website &
5. Electronic Funds Transfer (EFT) and online bill payments facilities. b) FIXED RATE MORTGAGE LOAN :
This is also becoming an important source of personal finance. The Fixed rate mortgage loan of Wachovia has following characteristics features :
1. fixed rate mortgage loans for 10,15,20 & ; ; 30 years period,
2. Rate of interest i.e. , APR( fixed) for 10, 15 ,20& ; ; 30 years fixed mortgage loans are 5.132%, 5.094%, 5.489% & 5.597% respectively,
3. Only interest is charged upto 10 years of the loan period for the 15,20 & ; ; 30 years fixed mortgage loans,
4. Maximum loan amount that can be obtained by the individual is $2 million,
5. Minimum processing fees,
6. Option of monthly, quarterly or annual repayment of loans,
7. Online application & approval of the loan &
8. Higher APRs( fixed) applicable for the loan amount ranging between $417,00 and $2 million.
b) ADJUSTABLE RATE MORTGAGE LOAN :
This is also personal finance scheme for those seeking loans with variable APR. The main features of the adjustable rate mortgage (ARM) loan of Wachovia are :
1. 1, 3/1,5/1 & 10/1 year adjustable mortgage loans,
2. 3/1 year ARM means mortgage loans for 3 years period with APR fixed for the first 1 year & ; ; variable for the remaining years of the loan period,
3. APRs for the 3/1 and 5/1 years ARM are 5.750% and 6.250% respectively,
4. Option of monthly, quarterly and annual repayments of loan amount,
5. Facility of online loan application and approval & ; ;
6. Higher APRs (variable) applicable for the loan amount exceeding $417, 00.
2. GE finance usa:
This is a subsidiary company of General Electric Corporation of USA. Headquartered at Stamford, this MNC company provides its personal finance services in more than 50 countries throughout the world. The personal finance programs of GE FINANCE include the following :
a. Fixed rate mortgage loans,
b. Adjustable rate mortgage loan,
c. Savings & CDs,
d. Credit Cards etc.
The Contact no. of the company is 877- 261-0415 (Toll Free).
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