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Top Factors That Affect Your Loan Against Property Eligibility

Loan Against Property Eligibility

Top Factors That Affect Your Loan Against Property Eligibility

Introduction

Loans are the best medium to fulfil all your dreams. In India, loans are as diverse as the needs of the borrowers. Home loan, construction loan, property loan, land loan – you name it, and an Indian lender has it in their loan portfolio.

A loan against property is a favourite with borrowers because of the following reasons:

  1. The loan approval process is fast.
  2. The eligibility criteria of a loan against property are uncomplicated.
  3. The loan amount can be higher than many other types of loans.
  4. You may claim tax deductions on interest repayment.
  5. The repayment tenure can be as high as 20 years.
  6. Some reputed lenders impose no penalty on prepayment of principal and interest.
  7. Loan against property interest rate is generally lower than many other types of loans.

This article provides you with the top-3 things you need to keep in mind to meet the eligibility criteria of loans against property.

The Top-3 Factors That You Need to Keep in Mind

1) Repayment Capability

The process of applying for a loan against property is simple. You need to compare a few lenders, choose the lender who is offering you the best interest rate, submit a few documents, keep your property ready for inspection, and get the loan amount in your bank account.

However, your ability to repay the loan plays a primary role during the sanctioning of the loan. A few factors that lenders evaluate are:

  1. Net monthly income.
  2. Gross monthly liabilities.
  3. Stability of income.
  4. Debt to income ratio.
  5. Nature of employment.

Your ability to repay the loan determines your loan against property repayment tenure and interest rates.

2) Ownership of the Property

One of the most important eligibility criteria for a loan against property is the ownership rights to the property. You can avail of a loan against property only if you have ownership right to a residential or commercial property that you wish to mortgage.

If the property has a joint-ownership, then you may show the joint owner as a co-borrower. Doing so will reduce your EMI liability.

3) Miscellaneous Factors

A few other factors that are as important as the previous ones are as follows:

a) Borrower’s Age

The age of the borrower should not cross 60 (if salaried) and 65 (if self-employed), on the date of loan maturity.

b) Credit Score

A credit score shows the financial health of the borrower. Any score above 700 shows the healthy financial status of the borrower. Lenders prefer such borrowers for approving their loan against property applications.

c) Property Papers

The property papers should be up to date and legal. Properties with pending litigations are generally not approved for loans against property.

d) Income Tax File

Lenders prefer borrowers with Income Tax returns records for the past 3 years, as that proves the financial stability of the borrower.

Conclusion

While meeting the eligibility criteria of a loan against property is not difficult, not keeping the property documents, along with the other factors discussed above, can result in rejection of the application.

 

Enhance the Character of Any Building with Outdoor Lighting

Outdoor lighting is crucial in defining the feel and looks of any building at first glance. Commercial buildings, private residences, villas, bungalows, clubs, and hotels can use outdoor lighting to highlight the structures in a practical, decorative, or artistic manner. Properly lit entrances, pathways, gardens can create a striking first impression on your visitors which is certainly desirable. Outdoor lights can be used to accent or highlight some impressive features of the building in the dark. Our attention is attracted by well-lit buildings and structures even when we are randomly passing by a place. Beautifully lit entrances, porches give an inviting feel to the people who are visiting. From a practical viewpoint, you should use lights to illuminate all the entrances and exits of your house for safety reasons. You can also add some wall lanterns to the sides of the house or in the garage for added security.

Some important points need proper understanding when you are deciding how to create the perfect ambiance for your purpose.

  • You should have a clear idea about the different sizes, styles, and colors of lights that are available for outdoor lighting. Fluorescent lights, lanterns, twinkle lights, string lights, lamps, floodlights, and LED lights. According to professional LED Light manufacturer,different types of lighting is best suited to create a particular effect. Twinkle lights and string lights can create a magical atmosphere, lamp lights can create a cozy ambiance, etc.
  • Floodlights and spotlights are thought to be the same but they are used for different purposes. Floodlights like the name suggests are used to illuminate a larger area as compared to spotlights. It is commonly used to light up the driveway leading up to the main entrance of a house or in the garage. Floodlights light up an entire space equally without drawing our attention to any object or structure. This is exactly what can be achieved by using spotlights. These lights cast a concentrated beam of light that can highlight objects or structures in your home. They are popularly used for architectural accents and up lighting trees or hedges in the garden.
  • Before you get carried away by the beautiful outdoor lights available in shops, you should have a budget in mind. It is the first thing that you should decide before you begin deciding how you want your outdoor lighting to look like and the effect that you want to achieve for your house. This is necessary so that you choose the best and cost-effective lights for outdoor lighting within your budget.
  • It is important for you to understand the landscape of your house and design accordingly. You can get a variety of innovative ideas and options for outdoor lighting from the Internet. It is certainly a good place for inspiration and to get you started. However, the final design should not be a copy of something seen on the Internet. The simple reason is that what worked for others may not work for you at all. Each building or structure is unique in its own way; therefore the planning should also be different. Also, you will feel a sense of fulfillment when you use your own creativity and create something wonderful for yourself.
  • Another factor to remember is that since the lights will remain outdoors, they must be sturdy enough to withstand the elemental forces of nature and the wear and tear of time. Some lights may be decorative but they are not durable. Investing in such short term lights will only lead to unnecessary replacements and costs in the future.
  • Ideally, outdoor lighting should have low wattage as they are used for practical or decorative purposes. However, sometimes we need brighter lights in the garden or the porch. Therefore we should select high or low wattage light fixtures depending on how we want to use it. LED light has low wattage and is a popular choice for outdoor lighting. They also require less maintenance and last for much longer periods as compared to other lights. When you have a large outdoor space, it is economically beneficial to make use of LED lights to illuminate the area. Top LED light manufacturer in india,recommend the use of frosted glass for outdoor purposes as they emit more light and are low maintenance.
  • An easy option for outdoor lights is solar lights, especially for people living in warmer climates. These lights do not require any elaborate wiring and you can make significant energy cuts that will reflect in your electric bill. Solar lights can be a popular choice for pathway lights and garden lights that can harness solar energy very easily. It is also very environmentally friendly.
  • You should try to incorporate a variety of lights for the outdoor space. It may not be the best idea to use the same lights for your driveway, yard, and front porch, as that will get boring very quickly. However, if you use different types of lights, make sure that they complement each other instead of clashing in the given space. You can contrast by using different shapes, styles, and metallic finishes, etc. In this way, the lights will look beautiful even during the daytime when they are not lit.
  • You can also try to mix warm and cool lighting to create a contrast and balance in the outdoor space. Making use of cool shades like white or blue colored lights makes an area look bigger than it really is. Afterward, you can use warm shades like yellow or orange lights to create a striking impact by focusing them on some beautiful structure, an object like an artificial waterfall or fountain. It will certainly elevate the landscape to something extraordinary.

A well lit outdoor space with decorative fixtures, like a garden, can be a wonderful place to hang out in the evenings or to entertain friends and guests. It will be a wonderful asset for you and your family. With a little innovation and investment, you can really transform the character of your house with proper outdoor lighting.

What Makes a Personal Loan Ideal for Young Professionals?

online personal loan

The lending market is seeing a continuous growth owing to the increase in instant online loan providers. A research report indicates that the personal loan market will expand at a CAGR of 10% between 2020 and 2024. Borrowers, especially young professionals, can get a personal loan from these companies within minutes.

  • Studies suggest that the digital lending market is anticipated to be worth $1 trillion by 2024.

Applicants can apply for a loan either online or via dedicated apps of financial institutions in minutes without the need for documentation in some cases.

Some of the reasons why personal loans are an ideal choice for young professionals are mentioned below –

1. Prompt approval and disbursal to account

The entire process of approval and disbursal to a borrower’s account can take around 24 hours. If they are pre-approved, they can get a personal loan approved and disbursed to their account in under 20 minutes.

For young professionals, quick availability of cash can be beneficial if they have to address a financial emergency.

2.No minimum threshold for the loan amount

Several banks and NBFCs usually offer online personal loan of up to Rs.25 lakh. The loan amount approved for an applicant depends on his or her personal and professional details

  • Another research suggests that the average ticket size of personal loans was Rs.35,000 in 2019-20.

Hence, young individuals can apply for a loan even of a small amount without the doubt of facing disapproval.

3.Pre-approved offers to help apply in two clicks

Pre-approved offers are usually available to existing customers of a lender. Such customers may not have to go through a document-verification process as their respective paperwork are already present with the financial institution. Minimal to zero documentation enables such customers to get a personal loan quickly.

Bajaj Finserv provides pre-approved offers to simplify the process of availing financing and help applicants save time. These offers are available on a list of financial products such as business loans, personal loans, etc. Individuals can have a look at their pre-approved offer by providing only their name and phone number.

4.No long list of documents required

Documents required to apply for a personal loan include –

  1. Officially valid documents for KYC (Aadhaar, PAN, Voter ID, Passport, Driving License, etc).
  2. Employee ID card.
  3. Salary slips for the previous 2 months.
  4. Bank account statements for the last 3 months.

Applicants who are self-employed have to submit additional documents while applying for a personal loan. These can include proof of business ownership, audited financial statements, and income tax returns.

5.Tenors going up to 60 months

Repayment periods of personal loans can go as high as up to 60 months. Borrowers do not have to be concerned about expensive EMIs that can weigh down on their income. They can choose a shorter tenor to keep the EMIs high and save on overall interest paid.

A personal loan EMI calculator can help applicants to find the right tenor based on the principal and rate of interest.

6.Simplified eligibility criteria

Applicants only have to fulfil the following eligibility criteria –

  1. Fall in the age bracket of 23 and 55 years.
  2. Employed with a public/private company or an MNC.
  3. Business vintage of 3 years (for self-employed applicants).

Both salaried and self-employed applicants need to have a credit score of 750 or higher to apply. They must check CIBIL score for a personal loan from the organisation’s official website before applying.

  • Between 2016 and 2018, more than half of millennials with a CIBIL score lower than 700 increased the same by an average of 65 points within 6 months.

Holding a good CIBIL score for a personal loan can also help borrowers secure a lower rate of interest.

7. Can be used for multiple purposes

A young professional can avail a personal loan to address more than one financial goal since these credits don’t have any restriction on end-use.

Some of the common reasons to get a personal loan include –

  1. Debt consolidation,
  2. Home renovation,
  3. Wedding,
  4. Higher education,
  5. Two-wheeler or four-wheeler purchase, etc.

There are several added benefits of using a personal loan for some of the above objectives. For instance –

  1. Borrowers don’t have to make a down payment when purchasing a vehicle with such loans, which is not the case with standard financing.
  2. A personal loan can provide tax benefits, under Section 24(b), of up to Rs.30,000 on the interest paid if it is used for home renovation.

Young professionals can avail attractive personal loan interest rates, which can keep the overall repayable amount low. They can also part-prepay or foreclose the loan before the tenor to save on interest.

 

Planning to Move to Thailand? Don’t Believe These Myths

While Thailand is quickly becoming one among most successful countries within the world in terms of economic process, many of us are still unaware how wonderful this country is. From the attitude of some professionals from the Western world, Thailand may be a country that’s very conservative, traditional, and in some ways oppressive also. However, this belief is only myth since Thailand has become one among the foremost progressive countries within the region, which magnetize large population of expatriates from different parts of the world.

In the past several years, Thailand has become magnet to several young and established Western professionals. Some even move there because they want to become a forex broker Thailand. Despite the benefits of working within the country, many Western professionals are still hesitant about moving to start out a career as they believe misleading information about the country.

The thing is, Thailand is different from other countries that are ultra-traditional and conservative. Western influence is sort of apparent within the country, which magnetize many Western professionals to maneuver there. In reference to this, allow us to do a rundown of common myths about Thailand. If you are thinking about moving to Thailand and the only hesitations you have in mind are the myths that people who’ve never been to Thailand tell you, please continue reading. Below are some of the uninformed and misleading information some say about moving to this wonderful country.

  1. Language difference may be a big issue – people that don’t have any idea about the life in Thailand are quick to assume that folks there don’t understand and speak American English. However, the reality is, you’ll easily get by in English since many locals can understand and speak said language. Hence, if you would like to figure in Thailand, you ought to not have a tough time communicating with people around you.
  2. Thai companies offer lower salary – this is often one among the foremost common myths about Thailand companies that make Western professional hesitate working there. Actually, Thailand companies are aggressive in acquiring the simplest and therefore the brightest within the industry in order that they will confirm that what they provide to professionals can equal or maybe exceed their expectations. Simply put, forex broker Thailand companies will provide you with higher salary if they see you as an honest addition to their businesses.
  3. The population of expats is low – This myth is completely flawed and misleading since Thailand features a very large population of expats. Hence, if you made the decision to figure in Thailand, you’ll not feel homesick in the least as you’ll always interact with other foreign professionals.
  4. Moving to Thailand may be a monumental task – While moving to other countries isn’t easy, you ought to know that moving to Thailand isn’t impossible. As long as you’ve got the proper sort of visa, you ought to not have any issue moving here.

Working in Thailand has become a perfect move to several Western professionals due to sort of reasons. To begin, companies within the Thailand don’t charge employees with high tax, meaning you’ll earn more since you’ll get the foremost from your salary. Additionally, Thailand companies are constantly trying to find experienced and talented professionals to assist them achieve their business goals. Hence, employment opportunities and career growth are nearly always assured to qualified individuals.

Starting a replacement life and career in Thailand are often quite intimidating, but once you learn more about this country, you’ll be sure that you simply will enjoy its culture and economy. If you’re still reluctant, reading more articles about the country are often extremely helpful.

Bathroom storage cabinets is adding up quality to your home

Renovating a washroom requires different components to be considered and among them refreshing the restroom stockpiling storage cabinets is a significant one. These capacity cupboards give usefulness as well as add looks to your restroom. The cupboards are accessible in various styles, hues, shapes and sizes which can be chosen according to the necessities and prerequisites. You can likewise go for the specially designed cupboards to meet your determinations. Creative mind and innovativeness is a catchphrase while choosing and planning a storage cabinet for your restroom. Different home improvement stores have a wide assortment of restroom stockpiling basin and wc combination unit bathroom furniture to offer and on the off chance that you further wish to have a wide decision, at that point web shopping is additionally a decent choice.

While choosing a storage cabinet you ought to guarantee that it works out in a good way for the general stylistic layout of the restroom. Different styles going from conventional to present day and from contemporary to snazzy are accessible in the market. The cupboards ought to likewise work out in a good way for the other installations in the washroom like vanity tops, mirrors, and toilets so they don’t watch out of the spot. Space assumes a significant job while choosing washroom stockpiling storage cabinets. If you have less space in the washroom, at that point you can utilize corner cupboards or sink top cupboards which are utilitarian and fits into little spaces too. Besides on the off chance that you have an enormous family, at that point an extra storage cabinet must be introduced to guarantee that all the extra towels and adornments are put well.

Looking for a restroom storage cabinet ought to be finished with due consideration and well ahead of time as it is an expensive issue. You should look at all the accessible choices on different shops and web stores before settling on an official conclusion. A storage cabinet which is useful just as eye-getting ought to be chosen. Shopping of these cupboards from different rebate outlets will likewise assist you with saving a portion of your well-deserved cash. Introducing these cupboards is likewise not an extreme occupation as the greater part of them join full arrangement of guidelines and manuals and if you need any extra assist you with canning consistently contract a neighbourhood jack of all trades for doing likewise. So simply select a decent storage cabinet for your washroom and add to its solace level.

Numerous restrooms are worked with just one spot for washroom stockpiling. In the normally measured washroom, the main implicit stockpiling is the cabinetry under the sink counter. Since restrooms are ordinarily little with constrained floor space it is additionally not a typical idea to place a household item in the room. On the off chance that you are the kind of individual that keeps plenty of things in their restroom, you might need to consider a washroom storage cabinet. These cupboards come in differing widths and sizes. An enormous restroom can fit a bigger part of furniture yet even a little condo has space for a little storage cabinet.

A bigger territory can hold a wide stockpiling cupboard that sits on the floor and in a bad spot. These cupboards can be found in practically any shading and complete and can come outfitted with strong wood or glass entryways or can likewise have open racking that isn’t hidden with entryways. Greater restrooms truly look appealing with cupboards that have length just as a pleasant ledge on the highest point of the capacity storage cabinets. Ones with more lengths will have the option to hold more embellishments in them and cupboards that are abdomen tallness can show appealing washroom frill on the highest point of them. The cupboards that have some covered racking and some uncovered racking truly become an adaptable piece in a washroom because the disguised racks can hold materials while the uncovered racking is capable hold a delightful glass container loaded up with beautiful shower cleansers, shower bombs, or containers of stunning hued shower bubbles. Uncovered racking can likewise be fitted with square or rectangular bins to hold extra shower things.

Much littler restrooms that don’t have a ton of area may fit a capacity storage cabinet with the sort of bathroom furniture sets that fits over the toilet. This kind of cupboard sits over the tank of the toilet and the legs stretch out down the sides of the can, so the final product is extra and alluring extra room over the can that doesn’t occupy significant floor room. This is a very productive method for benefiting from the restricted space accessible to you in the room and amplifies the measure of things you may store without jumbling the zone.

These kinds of cupboards are extraordinary for putting away additional towels and washcloths, additional bathroom tissue, tissues, shampoos and conditioners, and shower toys. Washroom stockpiling cupboards might be useful to anybody that needs a spot to put shower extras. The royal bathrooms offer all these categories with extra care in terms of free home delivery, exchange policy, and lifetime warranty.

Promote the Premium Factor in Your Apple Watch With These 5 Accessories

The Apple Watch is probably the most highly technological accessory you might buy right now. Other than your smartphone, it makes your life really convenient. In fact, pair it to a smartphone, and it can take you places. Isn’t it? Ask the ones who own an Apple Watch. They’ll tell you how delicate it is, not in terms of durability, but in the whole character.

This delicate nature of your Apple Watch is the sole reason why you must own one. It’s not just beautiful in terms of aesthetics but also very elegant in build quality. The overall package you get is worth the price you pay for it.

That’s all with a brief description of how beautiful the Apple Watch is. Now it’s time to take a look at some accessories that help you maintain that build quality. Not only that, but some of these accessories also promote its appearance to a whole another level.

The List of Accessories to Own

As mentioned in the list, relate everything to your situation and imagine how you would make the most out of it. How you utilize an accessory is the ultimate bang for the buck. For your reference, we categorize these items into necessities and luxury.

Necessities

  • The Apple Watch Screen Protector

Just like you protect your smartphone’s delicate screen with a protector, the same goes with the Apple watch. It is exposed to all outside extremities being on your wrist every time. Any opposing force on its screen can crack it easily. No doubt it might have the hardest unbreakable glass, but you still want it away from all those cracks and scratches. Isn’t it? So, an Apple Watch screen protector is a must no matter the purpose for which you bought the Apple watch.

The availability of a dedicated Apple Watch screen protectors is immense. Just don’t fall for the hype. Go for the official protectors on the site or from someone who is reputed seller.

  • The Apple watch Bumper Case

Consider your smartphone. Do you not put on a silicone cover at the back to protect its body. It protects the screen as well. So, along with the screen protector, a bumper case to withstand outside shocks is also essential. Indirectly, it also protects the screen from cracking from the other side of the watch. No matter which side of the watch is up, the whole damage should be avoided.

Any breakage on the inside of the watch can cause it to misbehave. After all, there are many elements in that small piece of technology. The touch, display, processor, heartbeat sensor, etc. You can get the exact bumper case in terms of colours and sizes for your Apple watch. Just go through some websites that are official dealers.

Luxuries

  • Collection of Apple Watch Bands

Any wristwatch enthusiast might have a whole collection of premium watches from established brands. It’s no surprise considering the collection as all that fulfils the person’s requirements. Now consider buying an Apple watch. After all, it’s one of a kind among those masterpieces. While changing the dial every time you go out can prove to be expensive, it’s better to have a collection of Apple Watch bands.

For premiumness seekers, the Apple Watch leather buckle loop is ideal. For frequent formal event-goers, the Milanese loop Apple watch band can do the trick. For all those sports lovers, the Apple watch sport band is perfect. You don’t have any shortage of options. It’s just about assessing your requirements.

  • The Apple Watch Bands Collector

Just like the Apple Watch dial, Apple Watch bands are all very delicate. Especially the ones big for formal events. To save them from any scratch or crack, there’s an Apple watch bands collector. After all, you use only one Apple Watch band at one time. The others have to be preserved as a brand new for longer. The Apple Watch bands collector helps you in a structured environment to never let their beauty fade away.

  • The Apple Watch Stand

If you’re wondering what will the watch do if it’s not on your wrist. It will go straightway onto that Apple Watch stand that never lets her touch an unwanted surface. The Apple Watch has a polished set of covers that are prone to scratches. The Apple Watch stand lets it hang in the air along with your smartphone. Some might consider it as a luxury, but we find it necessary.

  • The Apple Watch Wireless Charger

We consider the Apple Watch wireless charger a luxury for all those quick movers. As the name suggests, the wireless charger lets the watch to charge just when you put it on that electromagnetic surface. It can be used for your smartphones as well. And if you have used that conventional Apple Watch charger, you might know it’s not the most ergonomic alternative.

The categorization of your luxury Apple Watch accessories has been done on some basis. You can still put them in a different category for yourself. The end goal is to promote that elegance that the Apple Watch brings with it.

Understanding your Credit Report

A credit report is a financial statement of the past credit history which evaluates the credit behaviour based on factors like payment of credit card dues and other advances taken from financial institutions. In India, the primary agency that provides credit report of every individual is CIBIL or Credit Information Bureau.

There are primarily 3 components of a credit report: 

 

Personal information: A credit report has necessary personal information such as name, address and details of the employers. All the demographic and identical information such as date of birth, contact details and PAN details are part of credit reports.

Accounts: The financial information such as advances taken, payment record of credit cards and advances and the outstanding balance of all the credit is the major part of the credit report. It also includes all the names of lenders, nature of the loan, the total amount of loan, interest rates of borrowing and outstanding amount of credits. 

Enquiries: The details of the company who have made a query about the credit report of the borrowers is also an essential component of the credit report. If multiple enquiries are made without the loan application being accepted, and the loan amount is disbursed.

Checking credit report: You can check your free credit report online with a few clicks. The process of checking the credit report is more relaxed and less time-consuming.

Here are some benefits of checking a credit report: Checking your credit report is significant because:

Know about your credit standing: The Cibil score range between 300 and 900 and 900 is considered as the highest CIBIL score. Cibil score required varies for every product from bank to bank. Generally, a Cibil score of 650 or more is regarded as a good score by banks and financial institutions. Knowing your creditworthiness is essential so that you can maintain your CIBIL score if you have a good credit score and in case of poor credit score, you can take measures to improve your credit report.

Getting better interest rates: If you have a credit score of more than 750, then banks offer loans at lower rates of interest. You should evaluate your credit report on a timely basis so that you can negotiate with the banks to get loans at an attractive rate of interest.

Checking the accuracy of credit report: If there are errors in the credit report, you can contact credit bureaus and banks to get corrections in your credit report. An accurate credit report is essential to avail the credit in future.

Getting pre-approved loan offers: Various banks and financial institutions provide pre-approved loan offers to the borrowers for different credit ranges. Pre-approved loan offers are essential as they provide loans at an attractive rate of interest. You can get appropriate loan offers if you have a better idea about your credit report.

Here are different credit score ranges:

If the borrowers have not taken any loan or not used the credit cards, then it indicates that they don’t have any credit history and they will have a CIBIL score of NA/NH which means it is either “not applicable” or no history”.

  • CIBIL score between the range of 300-599 is considered as a poor CIBIL score. With this credit score, there are more chances of getting a loan application rejected as the borrowers have a high risk of becoming a defaulter. 
  • If you have a CIBIL score between the range of 550-649, then the chances of getting a loan approved are low. This range is considered a fair range, but only a few lenders would consider providing credit if they have a credit score in this range. 
  • The credit score between the range of 650-749 is considered as a good CIBIL score. The financial institutions may approve the loan application quickly but may still charge a high-interest rate on the loans.
  • The CIBIL score in the range 750-900 is considered as an excellent CIBIL score. The chances of getting a loan approved at best interest rates are higher if the credit score is between this range. 

If you have a poor credit score here are some tips to improve your credit report:

  • Paying the credit card dues on time: To improve your credit card report make timely payment of all your credit card dues on a timely basis. Delaying the credit card payments not only means you have to pay the penalty fees, but it will also impact the credit score poorly.
  • Utilization of credit cards: The purchasing behaviour of a borrower can be determined by the purchase history using the credit cards. If the borrower is over utilizing the credit card, then it may indicate that they have poor spending behaviour. Banks or financial institutions usually keep a check on the proportion of payments done using the credit cards to the limit of the credit cards.
  • Don’t apply for loan too often: If you are making multiple hard enquiries, then it can affect your credit report negatively. Applying for multiple loans at the same time indicates that you are credit hungry. To improve the credit report, you shouldn’t apply for multiple loans at the same time.
  • Don’t default on EMI’S: Defaulting on the loan advances can impact your credit report severely. Make sure that you repay all the loans on time. If there is any pending payment, it will lead to a poor credit score.
  • Getting the right mix of credit: If you have taken more number of unsecured loans, then it is indicative of a weak credit report. To improve the credit report, the borrowers must choose the right mix of credit. For instance, secured loans like a home loan or a car loan can have a positive impact on the credit report.

Thus, a credit report is an essential tool based on which banks and financial institutions lend credit to borrowers. A good credit report means a good credit score and maintaining a good credit report can help borrowers to avail a loan at attractive interest rates.

 

Comparison of Different Gold Loan Offers from Different Banks

A gold loan is a secured loan in which borrowers have to pledge their gold futures to meet their personal and business needs. A gold loan is available for a tenure of 1 day to 36 months and can be repaid using various flexible methods such as bullet repayment, EMI scheme and Overdraft scheme. The gold rate in India starts at 9.15% and the maximum gold rate stands at 11.25%.

Here is a comparison of different gold loan offers:

Bank Gold Loan Interest Rates Processing Fee Max Tenure
SBI Gold Loan 9.15% 0.50% of the loan amount  36 months
Muthoot Gold Loan 12.00% 0.25% to 1% of loan amount. 36 months
Manappuram Gold Loan 12.00% Rs. 10 (to be paid at time of settlement) 12 months
HDFC Bank 10.50% Nil* to 1.50% 24 months
IIFL 9.24% Nil 11 months
Yes Bank 11.25% 0.75%, Minimum Rs. 500 36 months
ICICI Bank 10.00% 1% of the loan amount 12 months
Federal Bank 11.75% Nil 12 months
Canara Bank 9.85% 1% of the loan amount 12 months
Andhra Bank 10.70% Nil processing fees 12 months
Axis Bank 9.75% 1% plus GST as applicable 24 months
IndusInd Bank 11.25% Upto 1% of loan amount s 12 months
PNB 10.05% upfront fees of 0.70% of loan amount + taxes 12 months

 

SBI bank: Presently, SBI provides the lowest Gold rate in India at 9.15%. SBI bank also charges a processing fee of 0.50 % of the loan amount. The amount of gold loan offered by SBI bank varies from Rs. 20,000 to Rs. 20 Lakhs depending on the quality of gold futures. If you wish to prepay the gold loan taken from SBI bank you don’t need to pay any prepayment charges. If you want to repay the loan, you can do so by paying the entire principal amount at the end of tenure using the bullet repayment method.

Muthoot Finance Bank: Presently, you can get a gold loan from Muthoot Finance Bank at the gold loan rate of 12%. Bank also charges a processing fee of 0.25% to 1% of the loan amount. You can get a loan amount between the range of Rs.1500 to Rs. 1 Crore. The loan is available for a tenure of 7 days to 36 months, and you don’t have to pay any prepayment charges if you wish to prepay the loan. You can use the EMI scheme and bullet repayment schemes to repay the loan taken from Muthoot bank.

Mannappuram Bank: Mannappuram bank offers a gold loan at an interest rate of 12%. It also charges a processing fee of Rs.10, which is paid at the time of settlement of the gold loan. The gold loan tenure ranges between 1 day to 12 months. There are no prepayment charges in case you want to prepay the loan before the loan tenure. The loan can be repaid using flexible methods such as EMI and bullet repayment schemes.

Canara Bank: Getting a gold loan from Canara Bank can be a good option as Canara Bank offers one of the lowest gold rates in India. You can get a gold loan at an interest rate of 9.85%. However, you have to pay a processing fee of 1% of the loan amount for a tenure of 12 months. Bank charges nil prepayment charges in case of prepayment of the loan. The loan can be repaid by paying the full amount at the end of tenure.

PNB Bank: PNB bank provides gold loans at an interest rate of 10.05%. The processing fees of 0.70% of the loan amount is also charged, along with interest. You can get a gold loan up to Rs. 10 Lakhs for a tenure of 12 months. Also, in the case of prepayment of the loan, you have to pay nil charges. The repayment of the loan can be done using the EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme.

Andhra Bank: The gold rate for Andhra Bank starts at an interest rate of 10.70%. Unlike most of the banks, Andhra bank does not charge any processing fees for getting a gold loan. The loan is available for Rs 10,000 to Rs. 2 Crore for a loan tenure of 3 months to 12 months. There are nil prepayment charges of Andhra bank. Also, the loan can be repaid using the bullet repayment scheme.

Best Bank for getting a gold loan: Presently, SBI bank provides the gold loan at the lowest rate of interest. In terms of processing fees, HDFC Bank, IIFL, Federal Bank are the best banks as they don’t charge any processing fees.

Summary: Comparison of different Gold Loan offers from different Banks

A gold loan is a secured loan in which borrowers have to pledge their gold futures to meet their personal and business needs. A gold loan is available for a tenure of 1 day to 36 months.

SBI bank

  • Provides the gold loan at 9.15%.
  • Charges a processing fee of 0.50 % of the loan amount.
  • Loan amount varies from Rs. 20,000 to Rs. 20 Lakhs.
  • Repay the loan using the bullet repayment method.

Muthoot Finance Bank

  • You can get a gold loan at the gold loan rate of 12%.
  • Bank also charges a processing fee of 0.25% to 1% of the loan amount.
  • You can get a loan amount between the range of Rs.1500 to Rs. 1 Crore.
  • The loan is available for a tenure of 7 days to 36 months.
  • You can use the EMI scheme and bullet repayment schemes to repay the loan

Manappuram Bank 

  • Manappuram bank offers a gold loan at an interest rate of 12%.
  • It also charges a processing fee of Rs.10, which is paid at the time of settlement of the gold loan.
  • The gold loan tenure ranges between 1 day to 12 months.
  • The loan can be repaid using flexible methods such as EMI and bullet repayment schemes.

Canara Bank: 

  • You can get a gold loan at an interest rate of 9.85%.
  • You have to pay a processing fee of 1% of the loan amount for a tenure of 12 months.
  • The loan can be repaid by paying the full amount at the end of tenure.

Andhra Bank

  • The gold rate for Andhra Bank starts at an interest rate of 10.70%.
  • Andhra bank does not charge any processing fees for getting a gold loan.
  • The loan is available for Rs 10,000 to Rs. 2 Crore for a loan tenure of 3 months to 12 months.

 

Signs Your Hot Water System Needs A Plumber!

A leaking hot water system can be a tedious task to sort. Just simply think of a flooded bathroom and paying a hefty water bill. So it is always to have a bit of knowledge beforehand as it can help respond during an emergency leakage, and before your lovely home turns into a flooded area. If in any situation, if you find the same, then you should call a professional plumber straight away to get it serviced or replaced as the leakage can significantly affect the heating system and the surrounding space.

In general, the leaks can typically begin from the outlet and inlet connections that are located inside the system or tank itself. If not put to the right situation, the chances can be that the silly mould can build up, and can pose health problems.

Firstly, you should be fully aware of the underlying reasons for a hot water system leaking. Let’s take a look!

Broken tank

Commonly, water heaters include a lined storage tank that is made of fine glass. Over time, the minerals present in the water can harden and form deposits inside the tank, which can gradually break the glass lining. This breakage can lead to a severe leak. And whenever the water is heated, it enlarges to a certain extent that produces a harsh strain on the glass lining. Yes, the excess train breaks the glass lining. In such cases, it is advisable to replace the leaking hot water system. Now, why is it important? Because the developed cracks in the glass lining cannot be repaired anyhow. If ignored, then those cracks will make situations worse than expected.

Aging

It is said that most of the water heaters have a minimum lifespan of at least 8-10 years. If yours is also near to the date or has already surpassed the time, then chances can be that you need to get it maintained or replaced. So rather than waiting for it to trouble you, better ask for professional help, and find a licensed plumber near you. Make sure that the services offered come with a warranty period. In simple words, once the water heater passes this extent, then is the time to get it replaced or serviced. Because, once the inner parts break down, the leaks can even flow to your entire bathroom.

Excess pressure

Many times, the hot water system leaking also happens due to excess stress. The other reason can be the external water supply source that may have excess stress, or when the water temperature eventually reaches higher degrees.

So overall, the safest way to resolve this and not to suffer any long term damage is to call a professional plumber near you. Below we have listed a few tips and tricks that can help you locate a reliable plumber in your city.

  • The foremost thing you can stick to is asking for their accreditations or credentials. Instead of relying on word of mouth, make sure the plumber has a state license to do the job, and that is the assurance that the expert will efficiently sort the things.
  • A reliable plumber in Gold Coast will always feel free to share their costs for the offered services. So before signing any contract or mutual agreement, ensure to confirm the total costs of the services you are looking for. So you don’t end up burning a hole in your pocket.
  • Another thing to keep in mind is to simply confirm the service insurance because only certified plumbers will cover the costs of possible damages and losses during the repair time. And even it is a good indicator that you chose someone professional enough for the leaking hot water system maintenance.
  • See if they offer emergency plumbing services or not. Because at times, the issues can arise again, so it is better to hire a plumber who is available in the emergencies as well.
  • Last but not least, don’t forget to check their online user feedback at their website or social media page.

With the tips mentioned above and tricks, you will surely find someone credible in the end, and then you are good to go!

 

 

Invaluable Internet Marketing Tips For Your Business

Internet market is an extremely effective way of introducing your business products and services to people all over the world. There are many types of internet marketing to choose from and many of them are perfect for your business. This article can introduce you to the popular types of internet marketing and help you find one that will be perfect for your business.

You should be willing to go the extra mile to to satisfy your online business’s customers. This is important to a sensible internet marketing strategy. While online customers’ demands may seem unreasonable to you at first, remember that every customer online is a model. If you make them happy, more customers in the same situation will soon follow SEO consultant Melbourne.

Increase traffic to your own site pages by linking back to yourself. When you create new content, or a new page, make sure to include a link to your previous material, archives, or other relevant information. It will increase the traffic and interest to these pages, making them more interesting to the search engines.

Include examples, videos, screenshots, and other visual aids when reviewing a product. Use this content to visually show your readers that you have used a product and that it will work. Aids like this will also help you attract and keep readers who prefer not to have to read a lot of content.

Choose a domain name that actually works for you. Everyone has seen websites where the name of the site has nothing to do with what the site actually sells, and this can lead to confusion for the customer. You want to choose a name that is relevant to your company and easy for your customer to remember.

Internet marketing can be a great way to advertise, but can seem impersonal to some shoppers. Shoppers like to touch, feel, and see the product they are about to purchase. Some shoppers may be put off by the inability to have a physical connection with the item, so companies should make sure they have a good return policy. This assures potential customers who are uneasy about making a purchase online that they can easily return the item if necessary.

Offering users coupons, promotions, and special deals is a good way to keep the customers coming in. Everybody likes to feel like they are getting something for nothing, so offering a deal, regardless of how small it may seem, will make some people more likely to buy something from you.

Logos are vital ways to get a customer to remember your product, brand and organization. If you have a catchy logo in your company, make sure that it is visible frequently on your website. This will sink into the brain of your customer and will help them with their brand recognition of your company.

Use catchy slogans and attractive logos on your website so that your customers remember you. Short slogans and logos tend to stick in people’s minds, and can be the way they remember you. If you can make your logo and slogan memorable, people are more likely to come back. Slogans can cause people to your website to others too.

Offer referral bonuses and have customers cultivating more customers for you. You can offer something as simple and cost effective as a coupon or another discount to any one customer who refers 3 more to your site. Since the first customer is already sold on your product or business, there is a good chance anyone they refer to you will have a solid interest in purchasing also.

If you have more options for payment, then you can get more sales you can get. Avoid the tendency to allow only credit cards as this may limit your customer base.

Blogs are one of the most effective ways to get the name of your product out there. Create a blog that is dedicated to your product and provide as many updates as possible to this blog. This will help to increase exposure and loyalty to the product that you are trying to promote.

Talk to the people at your job about the product that you are trying to promote. Word of mouth is one of the best tactics that you can instill, as you can get the word to hundreds of people by simply telling one person. Use your co-workers as an effective way to promote your product SEO Melbourne.

Your product reflects on your website and you. So pick items that you are proud to sell. If you take pride in your work, it will show, and people will not only respect you, but also buy from you. In the end, that’s what you want, right? High quality products pretty much sell themselves.

As indicated above, internet marketing is extremely successful. By using the web you can introduce your services and products to a much wider audience of potential customers. There are many methods to choose from. By following the solid internet marketing practices in this article, you can help to bring your business to the world.