A loan is a sum of money borrowed from a lender (such as a bank, credit union, or individual) with the agreement to repay it over time, usually with interest.

You can apply for a loan online through a bank’s website or mobile app, or offline by visiting a bank branch. You have to provide some necessary documentation, such as bank statements, proof of identity, and proof of income. The lender verifies your details, and upon approval, the loan is disbursed.

To be protected against monetary losses brought on by unexpected situations like accidents, illness, or damage, you must pay premiums to insurance. It helps cover expenses and reduces financial risks.

You can apply for insurance online through an insurer’s website or offline by visiting an insurance company or agent. Choose a suitable policy, submit required documents (ID proof, income proof, medical reports if needed), and pay the premium. After approval, you receive the policy document.

Investment is the process of putting money into assets like stocks, bonds, real estate, or businesses to earn returns over time. It helps to increase money and fulfill financial goals.

For high returns, consider investing in stocks, equity mutual funds, real estate, cryptocurrencies, or startups. The stock market and mutual funds offer growth over time, while real estate provides rental income and appreciation. Cryptocurrencies and startups carry high risk but can yield high rewards. Diversify investments based on your risk tolerance and financial goals.