Personal Loan – One Answer to Many Problems

Are you thinking of buying a few lovely things for your home? Maybe you’re in the need of a new washing machine, a luxurious sofa set, or a car. No matter how much you crave for these things, most of the times you’re unable to pay for such big-ticket items out of your regular income. When in need of some money – why go about requesting your friends and relatives for the lending you some money. Instead, borrow the money from finance investment companies in Delhi, India – Personal Loan is the perfect answer here!

What is Personal Loan:

Personal loan, also known as unsecured loan, allows you to borrow a fixed amount of money over a fixed term, and at a fixed rate of interest. For example, you might borrow Rs. 50,000 over three years at 35%. So, you know at the outset how much you have to pay back each month, as well as total cost of the loan, making it easier to budget. Non-banking Financial Companies, Banks and finance investment companies in Delhi, India offer personal loans. Personal loan is also offered by many private financial outlets, but it is highly recommended that you keep your financial dealings secluded to regulated finance investment companies in Delhi, India only.

How Much Can You Borrow:  

You can easily borrow anything between Rs. 50,000 to Rs. 5,00,000 in the name of personal loan. In case you want to borrow more than this you need to put an asset (such as property) as security. Interest rates vary, and bigger the loan amount, the lower the rate of interest. Therefore, it’s more profitable to take a larger amount as loan. Nevertheless, under all circumstance avoid taking a loan you cannot afford to service or repay.

Term of Loan:

The terms offered by finance investment companies in Delhi, India are typically one, three and five years. And, it can be highly convincing to opt for a longer term in order to reduce the monthly payments. Choosing to pay your EMI for a longer tenure may reduce your monthly payment burden, but you will end up paying more amount as a whole making your personal loan a highly expensive business. Also, the rate you pay will largely depend upon your credit score because lenders generally carry out a credit check when you apply for a personal loan. So, beware of poor credit history, it can lead towards turning you down flat by your lenders or charge a higher rate of interest.

A personal loan from Non-Banking Financial Company or finance investment companies in Delhi, India is sensible for the borrowers, but it’s also worth considering the alternatives as already mentioned.

How to Finance a Wedding – The Easy Way!

According to the finance investment companies in Delhi, India, financing a wedding can sometimes be a very difficult task. Irrespective of the fact that you have stored well to meet the stipulated as well as non-stipulated expenses, financing a wedding can be highly challenging. Here are some steps explained for you so that you do it the easy way!

The average cost of a big fat Indian wedding is 25 Lakhs with the minimum cost being 10 Lakhs and the maximum ranging up to a few crores. The expenses of a typical wedding is generally diverse across arranging a few basic things like the venue, managing guests, invitation cards, jewelry, food and outfit for the groom and bride as well as the whole family. However, the most important fact of all these is that financing a wedding is in many ways easier than organizing a wedding.

The finance investment companies in Delhi, India says that if you need more money than what you have saved for financing a marriage you can avail it easily in the form of a personal loan or without emptying you savings account totally. As personal loan is a form of unsecured loan, you need not have to provide collateral to get one. Personal loan is really a reasonable answer for financing a wedding because it not only reduces the burden of immediate cash, but also it gives the borrower the added advantages of a fixed monthly payment. So, by availing a personal loan you can shoulder the expenses of a wedding very beautifully without any mishaps.

Personal loan acquired from finance investment companies in Delhi, India can be paid off easily over a period of time if proper consistency is maintained. Repaying you loan over a shorter period of time also help in reducing the interest. However, it is a good idea to check with different finance investment companies in Delhi, India, compare the interest offered before applying for a personal from a financial institution whose interest rate suit you.

Applying for a personal loan is really easy, the things that are extremely important includes documents like salary proof, bank statements, residence proof, identity proof, etc. As long as you have the proper documentation with you getting a personal loan would be super easy for you. However, your loan approval will largely depend on your credit rating and authenticity of your documents.

Most of the finance investment companies in Delhi, India allow you to apply online for personal loan so you don’t even have to cut off your valuable time to visit the office. If there’s a wedding just round the corner, and you are in need of financial assistance, why to wait any longer? Apply for a personal loan in one of the finance investment companies in Delhi, India today!

3 Things to do when you lose Your Credit Card

Christmas, New Year – the holiday season is fast approaching. It’s going to be a busy season ahead, and the probability of losing your credit card is more during this time. According to finance investment companies in Delhi, India due to lot of things in hand to do, you may leave behind your bag, your wallet, or your credit card directly without even noticing it.  So, what should you do if you discover at the end of your busy shopping schedule that you have lost your credit card?

Know the Eureka Zone:

The moment you realize that you have lost your card, always care to take a second look or search the area around you. According to research many objects are within 18 inches of where you expect them to be – which is why this area is known as “Eureka Zone.” So, the Eureka Zone is worth checking again, calmly and methodically. Other clues like where you last saw your credit card, and what you were doing with it may also be a great help to you.

Contact the Issuer of Your Credit Card:

Your card may have slid under a restaurant booth, or you may have lost it at the airport. If you do not find it right away, you should inform your card issuer as early as possible and have a replacement card issued. According to finance investment companies in Delhi, India, informing your card issuer is the best and the safest option unless you have a feature like Discover’s Freeze it, which lets you temporarily deactivate your card while you are looking for it.

If you happen to find your card after some time has passed, finance investment companies in Delhi, India recommends that you may still go for a replacement. If your card was found by someone else and tried using it at a store or restaurant, it is possible that the account information might have been compromised in the interim. Hence, it would be smart to get a replacement to minimize the odds of experiencing credit card fraud.

Monitor Your Account:

The rule of sincerity says that it’s always a good idea to monitor your credit card statements for fraudulent activity. Most credit cards have a zero liability policy, so informing early will free you off the penalty if any unauthorized activity occurs. While following all these procedures, you should also not forget to review your account carefully, just to be on the safe side!

In a nutshell, always keep the phone number of the credit card issuer close at hand. If you don’t the numbers yet, the right time to do it is now, when no card is missing. As soon as you realize your credit card is missing, call the card issuer. Do not carry a large number of cards in your wallet and keep a backup payment method in case your card is lost or stolen.

Risk Involved - If Not Studied Well Can be Your Worst Enemy

Whenever you think of putting your money in a new investment plan, the word “Risk” fills up the gap between your plans of investing in finance investment companies in Delhi, India and the plethora of good things that may occur to your idle lying money.

“Risk” is in fact a very dicey and frightening word for the investors as well as the finance investment companies in Delhi, India. This is because risk defines the chance of losing some or all of your original investment. No matter how smart you are, succumbing to the fearful impact of RISK without proper research is not always a good idea. Information about the product, mode of operation of the institution you are involved in can help you predict the real risk involved with the investment plan you are planning to take up. Here are some points for you to remember about risk. 

Finance investment companies in Delhi, India have always insisted on knowing the right risk involved for total safety of your hard earned money.

When you make an investment decision, you actually expose yourself to a number of financial risks in the form of high inflation, volatility in the capital markets, recession, bankruptcy of the financial institution and more.

So, in order to minimize and control the damage caused by risk to investors – finance investment companies in Delhi, India, fund managers and other professionals practice risk management. Always invest your money in a place where there exists a fully fledged risk management system.  Not taking in account the presence of a risk management system while making investment decisions is likely to wreck havoc upon you in times of financial turmoil. Similarly, knowing the risk management system of a financial system will not only boost your confidence level by many folds, but also help you generate good return on investment from your money without any mental turmoil.

For example, taking an inter-corporate deposit plan from finance investment companies in Delhi, India is considered less risky than equities. If you fall into the category of investors who go according to risk management system, you will choose to diversify your portfolio with low risk high ROI yielding plans rather than the exposing yourself to risk.

3 Things You Should Make Your Children Know before they are 20

A recent study by finance investment companies in India, Delhi found that the average college students are able to answer only about one third of the basic financial questions put to them.

Agree to it or not but the finance investment companies in India, Delhi says that it’s a major cause of concern for everybody and cannot be just overlooked assuming that the financial knowledge or financial behaviour of these kids doesn't really matter yet. In fact, the late teens and college years are indeed the most crucial time to know the smart money habits that will help the younger generation to build wealth over the course of a lifetime.

Here are 5 truths about money that are inevitable for your children to learn by the age of 20 – and carry throughout their lifetime!

Maintain a Budget:

Finance investment companies in India, Delhi have found that almost 40% of the pocket money of college students goes in purchases like clothes, gadgets, entertainment, and junk food. Although these impulse purchases seem cheap enough in the moment, they are capable of blowing away through their bank account in a jiffy. Thus, the only way you can help your children to resist from unplanned purchases is by training them to develop a budget and plan ahead in monetary terms.

Avoid a Student Loan if Possible:

Student loan has always been scary for parents as well as children. Often student loan forces individuals to delay life events like marriage, building a home etc. Therefore, educating about their options before taking the loan can mean a world of difference in terms of their freedom and future job choices. In other words, borrowing for your education should not cripple your dreams later in life.

Beware of Identity Theft:

According to finance investment companies in India, Delhi college students represent an easy target for identity thief. To protect your children from being a victim of identity thief, educate them on a few basic measures –

• ·        Lock all the electronic devices with a password or finger print key
• ·        Try not to stay logged in for a long time into sites or apps like Venmo or PayPal
• ·        Never leave papers with social security numbers lying around carelessly
•  

Understanding the New CIBIL Transunion Score

Not only by the finance investment companies in India, but by millions of professionals and entrepreneurs all over the country the CIBIL score is considered highly important for credit cards & loan approval. The term CIBIL stands for Credit Investigation Bureau India Ltd.  It’s India’s first credit information company that collects and manages payment records for loans and credit cards, for both individuals as well as commercial entities.

The payment records are collected every month from various financial institutions/finance investment companies in India and a credit information report and a credit score are issued. This allow lenders to know about the credit status of an individual and approve those who looking to apply for new loans, thereby making the CIBIL score extremely valuable.

What is CIBIL Transunion Score:

According to finance investment companies in India CIBIL Transunion score 2.0 is nothing but the improved version of the original CIBIL credit score and has been created considering the current habits and changes in both consumer profiles and credit data. With the introduction of the new version many individuals have notice a drop in their score. However, this drop will not affect the loan approval process because both versions of the score have different score eligibilities.

Aim of CIBIL Transunion Score:

Main aim of the CIBIL Transunion score 2.0 is to make it easier for individuals and companies having short credit history to get loan approval says finance investment companies in India. It tries to classify new borrowers with credit history of less than 6 months into specific categories.  Individuals are rated on a range of 1 to 5, with 1 being the “High Risk” category and 5 being the “Low Risk” category. The higher your score is the lower amount of risk you will have on your credit report.

How to Improve Your Credit Score:

It is almost clear to you now that if you aspire to take a loan in the near future, you’re required to maintain a good CIBIL transunion score. Here are some of the important ways by which you can maintain a good CIBIL Transunion score:

• ·        Always pay your bills on time as it can bring a good impact on your CIBIL rating. Missed and delayed payments have extremely negative effect on CIBIL Transunion score
• Always keep the debt amount on your bills and credit cards very low as high number of outstanding debt impacts the score negatively
• ·        Apply for new credit accounts only when it’s absolutely necessary. Having numerous account is not that much favorable for a good CIBIL score
• ·        Instead of moving your debt around, pay it off as soon as possible. Never cancel unused cards to improve your score, since owning the same amount but having a smaller amount of open accounts can actually lower your CIBIL score

Applying these tips will surely help you bring a good change in your CIBIL score. And, a high CIBIL score will open up an entirely new plethora of financial options at your doorsteps, such as personal loan approval, business loan, home, loan against property and more.

Important Things to Know About Loan against Property

Loan against property in India (LAP) is a form of loan that is sanctioned against the mortgage of property. The interest rate against this type of loan revolves somewhere between 40% - 60% of the market value of the property. Nowadays, the interest rates offered on personal loan by finance investment companies in India, Delhi is not less than 35% of the amount borrowed. Hence one of the best benefits of loan against property over personal loan is the interest rate.

If you were to take a personal loan from finance investment companies in India, Delhi, the interest rate would have been very high. On the other hand taking a loan against property means you pay low interest rates as your property is guaranteed against the loan.

Here’s how finance investment companies handle LAP:

The process of approval of loan against property involves the following process –

·        If the property you choose to mortgage has more than one owner, all of you will have to apply together for the LAP

·        LAP is possible even against freehold property – from a plot of land to a rented house everything is acceptable for a loan against property

·        The investigation team from finance investment companies in India, Delhi checks all the documents related to the property like electricity bills, telephone bills, identity proof like PAN card, Passport, voter ID card and more

·        You also need to provide your bank statements for the past 6 months, and if you’re self-employed you need your financial statements for the past 2 years for complete verification

·        The minimum age for applying loan against property is usually 24 years, and the maximum age for an employed person is 60, and a self-employed individual is 65

And, the most important of all the above mentioned facts is that the investigation team of finance investment companies in India, Delhi also reviews the CIBIL score and goes through your payment track record. Thus, never forget to stay sincere to your financial responsibilities; always maintain a good CIBIL score for getting your LAP application approved instantly.

Based on all this information, your finance investment companies in India, Delhi will ascertain your capacity for repayment and approve your loan application if they are satisfied!