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Business Loan

Details of Business Loan Interest Rate in 2022

Many people want to start their own businesses. Those who already have one, want to expand it and make it bigger and more prosperous. Money is needed, whether it is for small and medium-sized enterprises (SMEs) or Multinational Companies (MNCs). These days, startups are cropping up in every part of India, and they need business loans to operate efficiently. Banks offer loans for businesses specifically for this use. [B-01] Types of Business Loans 1. Secured loans: Individuals and business owners offer collateral like inventory, real estate, machinery, etc. to get a secured loan. They have longer terms, and the rate of interest is low. 2. Unsecured loans and small business loans: No collateral is required to borrow money for unsecured loans. The tenure of this loan is short, and interest rates are high. Private and public sector banks, NBFCs, small finance banks, microfinance institutions, regional rural banks, etc. offer business loans. Under the unsecured category, a smaller loan is granted with a repayment term of up to 5 years. In a secured loan, the amount is high, and the tenure to repay is between 15 and 30 years. Factors Influencing Interest Rates Type of Business The lender divides the loan into priority and non-priority sectors. The rate of interest on loans for the non-priority sector is higher than the rate of interest on loans for the priority sector. As a result, the type of business you have or intend to create will determine the interest rate of your loan. Monthly Income and Ongoing Debts Your company’s monthly income shows whether it is profitable or not. It plays a big role in evaluating whether you qualify for a loan or not. The turnover can fluctuate from time to time. Being consistent is very important because it helps your lender figure out how much you owe and when you have to pay it back. Credit Rating and CIBIL Score Your credit score is based on your credit history and shows your creditworthiness. You will have a good credit score if you have paid a loan on time in the past. Paying credit card bills on time also counts. If you have a good credit score (750 or above), it will work in your favor when you apply for a loan. It will help you have a good CIBIL score. If you have a good credit rating and CIBIL score, you are more likely to get loans from banks and NBFCs. A good credit score helps in getting more perks, less lending rates, and variable tenure or payback options. Collateral/Security Collateral is the security offered as a loan guarantee to the lender. The perks will rise with the value of the collateral. If the bank is given security over highly valued assets like real estate, machinery, equipment, deposits, or home equity. You may get a larger loan amount after looking at the collateral because the risk is low. Business Loan Interest Rates (2022) Name of BankInterest Rates (per anum)HDB Financial Services Ltd.12 to 60Axis Bank12 to 36IDFC First Bank10.75% p.a. and upwardsFullerton Finance12-48Union Bank of India8.90% onwardsRBL Bank14% p.a. and upwardsICICI Bank11.25% p.a.Indifi Finance 12 to 36Lendingkart Finance3 to 36Tata Capital Finance12 to 36NeoGrowth Finance6 to 24Hero FinCorp12 to 36 Startup Business Loans There are many startups in India, and they have access to various loan and private equity investment sources. The Indian government has introduced starting business lending programs for startups and MSMEs. The Small Industries Development Bank of India (SIDBI) gives loans directly to MSMEs and startups, without banks’ involvement. Startup Business Loans have lower interest rates compared to loans given by banks. Bank Credit Facilitation Scheme Headed by: National Small Industries Corporation (NSIC) Target: Credit needs of the MSME units Description: Helps MSME organize the papers that banks want.It enables a large number of MSMEs to obtain credit. Pradhan Mantri Mudra Yojana (PMMY) Headed by: The Micro Units Development and Refinance Agency (MUDRA) Target: It offers loans to small enterprises, non-farm and non-corporate firms. RRBs, commercial banks, MFIs, etc. offer this loan. Details: The program gives loans in three ways of Shishu, Kishor, and Tarun, ranging from 50,000 to 10 lakh rupees. Standup India Scheme for SC, ST, and Women Entrepreneurs Headed by: SIDBI Target: Manufacturing, Agribusiness, or Service Businesses Details: Under this scheme, you can apply for a loan amount between Rs. 10 lakh and Rs. 1 crore. Loans availed through this program can be repaid in seven years. The maximum moratorium period is 18 months. [B-02] Conclusion We hope this article has explained to you the business loan rates that are offered by the various banks, as well as the schemes offered by the Government of India. Make sure to adjust your loan amount, as per the nature, size, and turnover of your business. Conduct thorough research and select the right plan, keeping these factors in mind. Visit the official website of Piramal Finance to get clarity on different loan types and secure the best startup business loans for your business. Find real, personalized information about a wide range of financial products and services, such as personal loans and different financial calculators, here.
08-11-2023
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Credit Score

Everything You Need to Know About Crif Score

Taking a loan from a bank is easy when you don’t have a bad history of loan repayment. The banks should not run into a loss if the customers are not paying the loans they take. For this very reason, most banks ask for your credit score. So, first of all, what is a credit score? A credit score is a three-digit figure that is used to check your chances of making on-time payments on your debts. Good credit terms are typically linked with higher credit ratings. One of India’s four Credit Information Companies (CICs) and major credit bureaus, CRIF High Mark, keeps track of your financial transactions and uses them to check your credit score. The three-digit CRIF High Mark credit score goes from 300 to 900, where 300 is the lowest score and 900 denotes the best. Credit scores are given to both individuals and firms by CRIF High Mark. Before giving you a loan, your lender could ask for your CRIF score to determine your creditworthiness. Let’s look at the Crif score in detail to know how it determines your creditworthiness. [B-01] What is a CRIF Score? Just like other credit bureaus, CRIF High Mark offers a range of Crif scores that is presented as a three-digit number between 300 and 900. The repayment history of a person’s loans, including credit card debt and other loans, checks their credit score. Banks and other lending institutions are more likely to approve your application for a credit card or a loan if you have a high CRIF score, which reflects your good credit behavior. What is a CRIF Credit Report? A CRIF credit information report is a detailed account of your historical credit information behavior. You can find the following details in your CRIF High Mark credit information report: Your personal information (name, ID number, DOB, etc.) The total number of open credit accounts Your history of payments Your payable debt to the lenders The number of recent inquiries that the banks have made about you. All the above-mentioned data is used to derive a CRIF Highmark Credit Report, which would enable the banks and NBFCs to decide whether or not to sanction you a loan. Why you must maintain a good CRIF Score? A high CRIF score will help you get better deals on anything from personal loans to new credit cards. The perks of keeping a high CRIF score are as follows: You can quickly get a personal loan, a mortgage, or a vehicle loan. With a high CRIF score, your chances of getting loans at reasonable or the best rates available increase as your creditworthiness rises. You might be able to work out a repayment plan with your lender. To fill the gap in your spending, you may get a credit card with a bigger credit limit. A strong CRIF score may make it easier for you to get your ideal job because many firms now include credit score reviews in their background checks. How to Check Your CRIF Score and Report? By following the ways listed below, you may verify your CRIF score and report: Fill in your personal information: Visit the official CRIF High Mark website and give your information, including your full name, mobile phone number, birth date, address, and gender. Also, you will have to give identifying details, such as your PAN number, voter ID, passport number, driving license number, etc. Choose your report type: Either an instant report or a free report are the available options. Within 5 minutes, your instant credit report would be there to download, but it would cost you INR 399. It may take as long as 3 days before your free credit report is available for viewing. Confirm your inquiry: Lastly, you have to provide information about your credit history to verify your identity. Your credit report will be sent to your email ID if you respond correctly. How can you improve your CRIF Score? Maintaining a CRIF score is very important. Here are some ways to raise your CRIF score, which is important because it can persuade banks and other lenders to make good lending decisions for you: Use your credit card wisely: If not used cautiously, credit cards can harm your CRIF score. Credit cards tend to increase your loan-taking tendency, leading to their overuse and, thus, poor CRIF scores. Stay Debt-Free: Make an effort to take on as few loans or debts as possible. If you have taken out loans, try to repay them as soon as possible. Bad loan habits can worsen your CRIF Credit score. Thus, take and repay loans responsibly. Keep a check on your CRIF Score: It is a good habit to keep an eye on your CRIF Score. It will help you improve and manage your credit behavior. Also, keeping a track of the CRIF score would enable you to take quick actions to improve your CRIF Score. [B-02] Conclusion Maintaining a CRIF score and report is vital to ensuring that your creditworthiness remains good. A CRIF score of 700 or more is considered good by most lenders. On the other hand, a CRIF score of about 900 is considered excellent. So, always maintain a CRIF score above 700. The credit score and report assist lenders and CRIF members in making good loan choices and safeguarding them against fraud. It also gives the option to verify the credit score, raise your credit score, and fix any reporting inaccuracies. If you want to read more about other finance-related topics, then do visit Piramal Finance. Read more related blogs on our website to learn more about our financial products and services, especially those about personal loans, credit cards, and financial calculators.
08-11-2023
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Lifestyle

Ace the Formal Look – Top 10 Dresses for Women 

Spending hours in front of the mirror before heading to the office, wondering what will look best on you? You are not alone in this. Whether a corporate meeting or a business soiree, putting together a stylish yet professional look is no easy task. Undoubtedly, whatever we wear, brings out our personality. Thus making the right choice before stepping into the professional world is an important task. As fashion has evolved so much over the years, it has captured the corporate world. Women’s formal look has gone through a lot of changes. Earlier, it was confined to monochrome colours, stripes, solids, and sober designs. However, women’s fashion has taken a turnabout since then. Sober colours have changed into bold prints, and we have shifted to youthful colours from monochrome designs. [B-01] Formal wear has broadened its horizons to include not only the monotonous skirts and shirts but dresses, gowns and t-shirts as well. There have been slight variations in the main segment, with semi-formal, smart casual and business casual included without moving away from the authenticity of the traditional looks. Ladies’ formal wear is an increasingly expanding segment with a rise in female participation in the corporate world. It has led to new fashion trends rising and becoming accessible to every woman in the working sector. Let us read about the trending formal looks for women in 2022! Top 10 Formal Outfits for Women Who Want to Trend 1. Basic Shirt and Trousers Old-school style can never go wrong while putting together a routine formal look. If you plan to play it safe, then a basic shirt and a good pair of trousers can never go wrong. Moreover, a solid colour shirt is essential for a women’s wardrobe when you are not in the mood to get dressed. This combo of clothes reflects its versatility and is a secure option when you are a beginner in the professional world. It is one such ensemble that can never go out of fashion. 2. Blazers Blazers can be any woman’s best investment for that chic yet elegant look. Formerly worn by men, blazers have now become essential for women. There are various ways to experiment with blazers, as they come in different ranges. Blazers make a fashion statement when styled properly, from printed patterns to hand-woven textiles. Rich colour tones and quality fabrics can add an elegant factor to your overall look. 3. Sarees A traditional Indian look, sarees can never disappoint. Often misinterpreted as informal, sarees are the perfect way to combine tradition with the profession. Sarees draped authentically with standard blouses are widely accepted as a formal look. Solid prints, pastel colours or basic designs with soft cotton fabric are ideal for the work atmosphere. Minimal designs ensure comfort and help you maintain sophistication. While opting for sarees, ensure you are comfortable enough to walk and perform routine tasks. 4. Formal Tops A woman’s wardrobe mostly consists of formal tops worn mostly daily to work. An elegant formal top provides a modest and chic look. You can never go wrong with a formal blouse paired with a good pair of trousers or pants. Blouses with round necklines or collars give that corporate look and can save you some glances. Solid, pastel or monochrome colours can be opted to suit the atmosphere. 5. Skirts Formal skirts speak of confidence and class. They are undoubtedly a favourite among corporate women because of the ease with which they can be paired with full sleeves shirts or formal blouses. Knee-length or below-the-knee skirts are advisable for high-professional workspaces. Make sure you opt for neutral colours or light prints to look elegant. 6. Kurtis Kurtis are a versatile option to opt for. They can be paired with jeggings, leggings, jeans or trousers. They vary in length, patterns, shades and designs and offer a wide range of options. It is advisable to avoid figure-hugging material and prefer breathable fabrics that are comfortable to carry. 7. Dresses Calling a dress perfect for formal wear would be an understatement. Dresses have come up to rule the corporate world as they represent class and elegance. You can experiment with the patterns and still look modest. Dresses give the liberty to choose dark colours or even neutral colours. A good pair of heels and earrings can complete the look and make you ready to shine brighter. 8. Jumpsuits Casual and fun yet formal, jumpsuits can provide you with that semi-formal look. Jumpsuits work best when structured well with lightweight fabric. They are usually easier and simpler to wear. They add complexity to the attire and are well-suited for formal events and client meetings. 9. Salwar Set This two-piece outfit can be mixed and matched with different clothes and thus provides versatility. Salwar sets can be paired with a dupatta to give that ethnic look. Look for neutral tones and simple patterns to have that modest look. 10. Palazzo Pants If you are bored of monotonous trousers and want to try something new, palazzo pants can be your go-to option. They work best when styled with formal tops or shirts. Palazzo pants have won the game for comfortability and provide ease of doing routine work. High heels or stilettos are advised to carry the flowy nature of the pants. [B-02] Conclusion With fashion changing daily and new trends being developed every second, it has become important to stay up-to-date and constantly evolve. Women have started to hold power positions and possess increased disposable income, which has led fashion houses to tap the formal wear segment more extensively. Nonetheless, we have provided you with the most trending formal wear outfits for women. Read more to find out about Piramal Finance and how we can be your best partner for investment and financial needs. We strive to provide the best option for personal loans and other financial requirements.
08-11-2023
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Home

Modern Dressing Table with Storage In 2022

A dressing table in a room is more special than one would like to think. The moments of peace people spend in their rooms are reflected in that mirror attached to the table. It is meant for storing and organising personal goods. But stylish dressing tables in the bedroom also help people work on their interaction skills. A modern dressing table with sufficient storage has endless uses. Therefore, one must select the right type of table they want to bring home. [B-01] The market for furniture these days is vast. Dressing tables with distinct and practical designs are no exception. Below is a list of the top modern dressing table designs with storage that have made their mark among consumers in 2022: 1. Dressing Table for a Small Bedroom The idea of having a big modern dressing table in a bedroom with limited space isn’t very practical. However, a table with storage can be an efficient furnishing choice for such an area. Instead of keeping extra cupboards for essential goods, one can use a dressing table with cabinets. Modern tables these days come with a slender mirror attached to a systematic set of drawers. Some drawers in these tables are big enough to store books and other things of similar size. Many people install LED lights on the mirror frame to better utilise the table. 2. Table with a Full-Length Mirror A modern dressing table with storage and a full-length mirror is something people buy when decorating their bedrooms. These tables may appear expensive, but this spending comes with benefits. Larger mirrors are known for making the space look a little bigger. Also, large mirrors reflect more light. With a full-length mirror dressing table, people don’t need to spend money on expensive decoration pieces. Also, one can get dressed for special occasions with ease. 3. White-Coloured dressing table People experiment with different interior patterns while decorating or remodelling a house. This experimentation leads to adopting distinct colours for a fresh approach. This is the idea that a dressing table in white represents. An oval- or square-shaped mirror on the top of a white table with shiny drawer holders offers a royal appeal inside the bedroom. Fancy bottles of perfume near the mirror along with a wooden chair will complement the modern dressing table pattern. Those who enjoy grooming can also add a few lights near the mirror. 4. A wooden dressing table Wooden furniture has always been a primary influence on home furnishings. From sofa sets to dressing tables, wooden materials are prevalent. A simple wooden dressing table with a framed mirror on top makes the room idyllic. These tables usually contain cabinets with enough storage. So, there is always enough space for grooming products. A finely shaped mirror atop a wooden table also offers a resort-like appeal. A fancy vase or a small centre piece near the mirror can fill up the space and complete the décor. 5. Dressing Table with Installed Lights Light installation around the mirror is a conventional concept. However, this option wasn’t always available for ordinary homes. Modern dressing table designs allow people to indulge in vanity mirror lights. Some commonly available choices in this range are fairy lights, retro lamps, plain vanity lights, and Hollywood glam lights. A dressing table with this kind of setting can light up the room. Such arrangements in home décor draw attention. 6. Floating Dressing Table As the term suggests, this type of table doesn’t consume much space. One can install this mirror and drawer setup in any corner of the house. It is just a mirror and a drawer that can be attached to any wall. This way, people get to save a lot of space and clean the floor with ease. The best part is that these floating dressing tables are affordable. 7. Vertical Modern Dressing Table The vertical dressing table is a solution to the great space issue. These tables are often confused with full-length mirror tables. Full-length mirror tables always cover a significant amount of space in the bedroom. However, vertical dressing tables have a mirror wide enough for a person. Besides, this modern dressing table storage has small spaces to keep essential products. What to consider when buying a modern dressing table? · Analyse the room and know the available space before buying the table. · Understand the different types of modern dressing tables and their structures for maximum storage. · Make sure that there is an equal proportion of tabletop dimensions and mirror size. · Dressing table patterns should be unique for girls’ rooms, with the latest designs and colours. [B-02] Conclusion A modern dressing table design offers a wide range of choices in terms of uses and visual appeal. You need to understand your requirements before choosing a table for your bedroom. Wondering how to fit such a purchase within your budget? That’s where a financial expert like Piramal Finance can help. Know how to apply for easy financial solutions like personal loans and manage your finances.
08-11-2023
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Lifestyle

Complete Guide on Business Formal Wear for Women

It’s a common thought that men have it easy when it comes to work and evening attire. They’re prepared for any occasion. They have a choice to wear the linen suit with a shirt for a casual event or a formal blazer and tie for a formal event. Gone are the days when business formals were only for men. Women are wearing them better and looking stylish and professional, more than ever. Take a look at this formal business clothing guide to learn more. [B-01] What does Formal Business Clothing Mean? The essential clothing in a business context is firm and formal. There are several notable choices, even though they are similar to corporate dresses in many ways. Casual wear is often more traditional, while formal attire might be simple. This kind of formal dressing is good for a work-related event. Formals are more suitable for those who work in banking, accounting, law, or government sectors. You can also wear formal business suits in: Client conferences Seminars at work Award seminars Holiday gatherings Many firms have a unique culture that establishes standards for daily office clothing. Many jobs uphold a casual dress code. Although, certain firms promote formal dressing. The staff handbook of the firm is often where one may locate the dress code needs. When Should Women Wear Business Formal Dress? If women are wondering what duties demand formal clothing, do some internet research before your first day at a job. Check the corporate website and images of the workplace. These resources will often give essential hints about firm dress code standards. Normally, business formal women dresses are worn in the legal, political, and broadcast media field. These sectors prefer formal dressing for their employees. This is the classy look to go for if you are in an executive position. The phrase “dress for the job they desire” has never been more accurate. After you have mastered the basics, it’s time to give a makeover to your wardrobe. Add some classy formal dressing options to it. Indian Formal Dresses for Women The Indian Wear business formal women dresses are given below: Sarees Sarees are a famous Indian attire and apt formal dressing for women. You can dress up for work or any formal event by wearing stylish sarees. Women can drape the saree with pallu over the left shoulder. Sarees may compete fiercely with even the most luxurious western formal dress. Ensure you wear them right. Solid, pastel hues with simple motifs work best for formal sarees than those with heavy, designs and bright colours. Kurtas Kurtas provide a comparable sense of flair. Kurtas can be worn with formal slacks, leggings, jeggings, or trousers. It gives girls and older ladies a more polished look. Kurtas are available in various lengths and give a trendy and refined look. Women should avoid wearing skintight kurtas for formal wear. Choose neutral colours like light browns, off-white, and for a formal event. Salwar Suits Salwar outfits are decent and one of the best options to get a formal look. They are available in some lovely patterns and colours. You can also make a salwar suit by mixing and matching different cloth pieces. Suits are available in palazzo pants, a churidar, or a kameez. They are a good formal dressing option if worn with the right accessories and a dupatta. Pick Kurti tops that are at least knee length and made of cotton for the workplace. Western Wear Formal Dressing Options for Women The Western Wear business formal women dresses are listed below: Long Dresses Dresses are a regular and vital part of formal dressing for women. They are loved and worn by women worldwide. Dresses are an entire costume in and of themselves, just like sarees. You can choose a knee-length dress for a formal occasion. Plane-coloured shirts and pants Traditional plane shirts & trousers are the simple and most common way to nail the Western look for ladies. This enduring piece of formal dress is the epitome of the adage “less is more,” and it remains to be effective today. Formal Blouses Blouses are yet another top item that is included in women’s formal clothing. Blouses have a more pretty and trendy touch and make you look decent. You can choose geometric, striped or checked blouses to wear in offices. Blazers Blazers are a good choice for ladies who want a more official look. While in the past, only worn by men, blazers are becoming popular among ladies when it comes to western style formal dressing. Things to Avoid in Formal Business Attire The following actions should be avoided while selecting formal dresses: Vibrant patterns or colours: Business formal women wear should be decent rather than expressive. Avoid wearing vibrant colours or patterns. Stripes are good to go. Ill-fitting clothing: To look professional, make sure that your business dress is not too tight or baggy. The length of the pants and sleeves should be proper. They shouldn’t be too long or too short. Colourful accessories: The number of items should be maintained to a bare minimum. Anything overly flashy or bold should be avoided. Heavy makeup: You should choose gentle tones and natural tints to keep the makeup as basic as possible. Heels that are higher than 3 inches: Make sure your heels are no higher than 3 inches if you are planning to wear one. [B-02] Conclusion Reaching the proper combo of skills and beauty may be difficult but not impossible. Through this article, we have tried to list down some best options for formal wear. These outfit ideas will make you look stylish and comfortable at the same time. Choose Indian formal wear or Western formal wear based on the event you are going to attend. Maybe you need some help financing a whole new wardrobe. If this is the case, Piramal Finance is here for you. Visit the website to find personal loans and other financing options best suited for you.
08-11-2023
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Business Loan

Apply For Best MSME Business Loan India

MSME Business Loans are a type of startup business loan offered to business owners. Personal borrowers, micro, small, and medium-sized enterprises (MSMEs), and startups can all qualify for business loans under MSME loan schemes. There are several banks and credit unions that offer startup loans. MSME loans are unsecured loans because they do not require collateral. These loans can be availed from different banks to help businesses cover a wide range of operational costs. MSME loan schemes are used by business owners and firms for several reasons. Here are some of the reasons: satisfying working capital needs managing or rising cash flow business growth Most banks and NBFCs (non-bank financial companies) give loans to SMEs and MSBs without asking for any collateral. This is why an MSME loan is one of the best means of aiding a firm to grow. This blog will explain in detail how to apply for MSME business loans in India. [B-01] Registration as a New User for MSME Loan Here are the steps one must follow to become a new user of MSME and apply for an MSME loan: Visit udyamregistration.gov.in and register yourself for the Ministry of Micro, Small, and Medium Enterprises in India Click “New Entrepreneurs who are not Registered yet as MSME or those with EM-II” if you are signing up for the first time Select ‘Validate and Generate OTP’ after entering your name and Aadhaar number. The service will send a One Time Password (OTP) to the number you have added. Add the OTP to verify your identity. After that, you will need to provide your PAN number and the data of the firm you represent to confirm your account The next step is to fill out the profile with the details about the firm or facility you work at Now click on the “Submit and Get Final OTP” button once you have filled out the form. You will receive a one-time password on your phone. Enter the OTP, to get confirmation that your MSME registration is successful. Eligibility Criteria for MSME Business Loans To get an MSME Business Loan the borrower must satisfy the bank’s criteria. Each banking institution has different criteria. These criteria may change based on the type of plan you are applying. Here are the general criteria to be eligible for an MSME business loan: ParticularsCriteriaType of businessManufacturing SectorService SectorSize of business (in terms of investment) – Manufacturing SectorMicro – < Rs.25 lakhSmall – < Rs.5 croreMedium – < Rs.10 croreSize of business (in terms of investment) – Service SectorMicro – < Rs.10 lakhSmall – < Rs.2 croreMedium – < Rs.5 crore The business loan schemes for startups and MSMEs have their separate eligibility criteria. However, here are some of the general criteria you need to qualify to get a business loan: The minimum age limit to apply for a loan is 21 years, whereas 65 is an upper age limit The applicant must be a citizen of India Applicants must have a solid business plan to get their application approved. Multiple MSMEs can be set up as either a sole proprietorship, partnership, corporation or limited liability company (LLP) It is important to have a good credit history to avail of MSME business loans and startup business loans How to Apply for an MSME Business Loan? The Reserve Bank of India (RBI) has given minimum loan limits to MSMEs for all banks in India. There are two ways to apply for a loan for an MSME or a new business. Some banks allow you to fill out the online application form, you can fill out the bank’s online form and submit it. Applicants can also fill out their application forms by visiting the nearest bank branch. They can contact the branch to find out what ID proofs and other documents are needed. Almost all banks in India give loans to small and medium-sized enterprises (MSME) without asking for collateral. Unsecured loans are made available to MSMEs, for businesses that fall within the ambit of micro, small, and medium firms. Documents Needed for Startup Business Loans Proof of identity and address proof is required to apply for a loan. Check the list of documents given below: A passport, Aadhar card, driver’s license, voter card, PAN card, and utility bills are needed for the KYC Individually penned business plan The previous year’s tax return and bank statements of the past 12 months are needed. Document proving the formation of a company. Documentation of a legitimate business location. In addition, the lender may want further paperwork. Points to Remember for Startup Business Loan To qualify for startup business loans, you must keep the following things in mind: Create a clear plan for the firm Include a detailed explanation of how you are going to put that loan money to use in your business plan Provide a concise summary of the company’s goal and long-term vision. Do not forget to explain your financial projections and a growth chart Perks of Getting a Loan for a New Business No collateral or guarantor is needed for a start-up business loan. Getting a startup loan is easy, and the repayment terms can be adjusted to fit your needs. For a startup business, minimal documents are required to get a loan. The requested funds are sent to the applicant’s bank account without any unnecessary delay. [B-02] The Bottom Line MSME in India is vital to the country’s economy hence, the Indian government has implemented several measures aimed at fostering the growth of India’s micro, small, and medium enterprises. MSME business loans are among the market’s most reasonably priced options for financing a company in its initial stage. Loans to MSMEs often carry an interest rate between 7% and 12%. Thus, these start-up business loans are one of the most cost-effective forms of debt for entrepreneurs to kickstart their ventures. Read more related blogs on the Piramal Finance website to explore our financial products and services, especially those on business loans, personal loans, credit cards, and financial calculators.
08-11-2023
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Dream Mobile

India's Top 10 Best Smartphones Under 30000

When setting a budget for a smartphone under Rs. 30,000, there are many things to consider. There are a lot of good mobile phones that cost less than Rs. 30,000, so you can’t just pick one randomly. We did some research and came up with a list of the 10 best smartphones that won’t break the bank. [B-01] Realme 14 Pro – Rs. 28,999 The Realme 14 Pro offers powerful performance and a stunning AMOLED display with a high refresh rate. It is one of the best choices for those looking for a new smartphone under Rs. 30,000. Display: 6.7 inches OLED displayProcessor: Mediatek Dimensity 7300 EnergyRAM: 8GB/12GBStorage: 128G/256GBBattery: 6000mAhCameras: 50MP Sony IMX882 OIS Camera and 16MP Selfie CameraOS: Android 15 Pros Cons Stunning, high-contrast screen There is no 3.5 mm jack Superb daily performance No expandable storage Great camera quality Fast charging Poco X7 Pro – Rs. 26,499 The Poco X7 Pro is a performance-oriented smartphone featuring a powerful chipset and a high refresh rate display. It is well-suited for gamers and power users. Display: 6.67 inches AMOLED, 120Hz refresh rateProcessor: Dimensity 8400-UltraRAM: 8GB, 12GB, 12GBStorage: 256GB, 512GBBattery: 6000mAhCameras: 50MP + 8MP rear camera and 20MP front cameraOS: Xiaomi HyperOS 2 Pros Cons High refresh rate AMOLED display No wireless charging Strong performance No official IP rating Large battery with fast charging No expandable storage Samsung Galaxy A35 – Rs. 27,999 The Samsung Galaxy A35 is one of the best options in the mid-range segment, featuring a beautiful AMOLED display, great battery life, and One UI’s smooth software experience. Display: 6.6 inches Super AMOLED, 120Hz refresh rateProcessor: Exynos 1380RAM: 8GBStorage: 128GB/256GBBattery: 5,000 mAhCameras: 50MP + 8MP + 5MP rear camera and 13MP front cameraOS: Android 14 Pros Cons Excellent battery life No wireless charging Great display No headphone jack Samsung’s One UI experience Plastic back Nothing Phone 2a Plus – Rs. 29,999 The Nothing Phone 2a Plus brings a unique transparent design and a smooth software experience. It also features an improved camera setup compared to its predecessor. Display: Flexible 6.7” AMOLED, 120Hz refresh rateProcessor: MediaTek Dimensity 7350 Pro 5GRAM: 8GBStorage: 128GB/256GBBattery: 5,000 mAhCameras: 50MP + 50MP rear camera and 50MP front cameraOS: Android 14 Pros Cons Unique design No official water resistance Bright OLED display No expandable storage Clean Android experience No charger included Motorola Edge 50 Pro 5G – Rs. 28,999 Motorola’s Edge 50 Pro 5G brings a premium feel with its curved OLED display and a powerful Snapdragon processor. It is a great choice for multimedia and gaming. Display: 6.7 inches pOLED, 144Hz refresh rateProcessor: Snapdragon® 7 Gen 3RAM: 8GB/12GBStorage: 128GB/256GBBattery: 4500mAhCameras: 50MP + 13MP + 10MP rear camera and 50MP front cameraOS: Android 14 Pros Cons Excellent pOLED display No wireless charging Strong performance No expandable storage Stereo speakers Limited availability OnePlus Nord 4 – Rs. 29,990 The OnePlus Nord 4 is a well-balanced smartphone with flagship-grade performance, a great camera, and a clean OxygenOS experience. Display: 6.78 inches AMOLED, 120Hz refresh rateProcessor: Qualcomm® Snapdragon™ 7 Plus Gen 3RAM: 8GB/12GBStorage: 128GB/256GBBattery: 5,500 mAhCameras: 50MP + 8MP + 2MP rear camera and 16MP front cameraOS: Android 14 Pros Cons Clean OxygenOS experience No expandable storage Smooth display No IP rating Great battery life No headphone jack Vivo T3 Ultra – Rs. 27,999 A feature-rich smartphone with excellent battery life and powerful hardware, making it an all-rounder for gaming and photography. Display: 6.78 inches AMOLED, 120Hz refresh rateProcessor: Dimensity 9200+RAM: 8GB/12GBStorage: 256GBBattery: 5500 mAhCameras: 50MP + 8MP + 2MP rear camera and 50MP front cameraOS: Funtouch OS 14 Android 14 Pros Cons High-performance chipset No wireless charging AMOLED display with high refresh rate No expandable storage Large battery capacity No official IP rating Realme GT 6T – Rs. 29,999 A performance-focused device with a powerful processor and a stunning display for smooth visuals and gaming. Display: 6.7 inches Hyper Display, 120Hz refresh rateProcessor: Snapdragon® 7+ Gen 3RAM: 8GB/12GBStorage: 256GBBattery: 5500 mAhCameras: 50MP + 8MP rear camera and 32MP front cameraOS: Android 14 Pros Cons High refresh rate display No headphone jack Strong performance for gaming No wireless charging Fast charging support No expandable storage OnePlus 12R – Rs. 29,999 A premium device offering top-notch performance and a sleek design with OxygenOS's clean interface. Display: 6.7 inches AMOLED, 120Hz refresh rateProcessor: Qualcomm Snapdragon 8 Gen 2RAM: 8GB/12GBStorage: 256GBBattery: 5,500 mAhCameras: 50MP + 8MP + 2MP rear camera and 16MP front cameraOS: Android 14 Pros Cons Premium build quality No expandable storage Smooth and clean OxygenOS experience No headphone jack Excellent battery life with fast charging No wireless charging Oppo Reno12 Pro 5G – Rs. 28,999 A stylish smartphone with an excellent camera system and smooth user experience. Display: 6.7 inches AMOLED, 120Hz refresh rateProcessor: MediaTek Dimensity 9200RAM: 8GB/12GBStorage: 256GBBattery: 5000 mAhCameras: 50MP + 8MP + 50MP rear camera and 50MP front cameraOS: ColorOS 14.1 Pros Cons Stunning AMOLED display No expandable storage Great camera performance No wireless charging Premium design and build No official IP rating [B-02] Conclusion The top mobile phones under Rs. 30,000 include sizable battery lives, rapid charging times, and potent processors. When shopping for a mobile phone for around Rs. 30,000, you won’t even have to skimp on the camera. Further, most consumers opt for easy EMI to facilitate their purchase. The services provided by Piramal EMI networks might help you spread the cost of your purchase over time. With Piramal Suvidha EMI, we aim to make payments as easy as possible. This item is unlike any other on the market because of the flexibility of its repayment schedule, which allows payments to be made on the 1st and 16th of each month. This also means that the amounts owed over time are less weighty. Read more related blogs on the Piramal Finance website, or explore our financial products and services, such as personal loans, credit cards, and financial calculators.
08-11-2023
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Education

Top 10 Highest-Paying Jobs In India for 2022

India is projected to have the third-largest economy in the world by 2022. With this growth comes an increase in demand for the highest-paying jobs in India. It’s also no surprise that many high-paying jobs are available in such a vast and populated country. The saying goes, “Money can’t buy happiness”, but in reality, it can help make life much more comfortable. Indian youth know that very well! And that’s certainly why there’s always a search for a career that will pay wonders. This blog will help with that search. In this blog, we’ll be looking at the top 10 highest-paying jobs in India. Keep reading! [B-01] Medicine Medical jobs like those of doctors and surgeons are among the highest salary jobs in India. This is due to the extensive training and expertise required to work in this field. Medical professionals are in high demand due to the growing population and the increasing prevalence of chronic health conditions. While most people typically think of doctors when they think of high-paying jobs in India, other medical professions also offer competitive wages. These include pharmacists, nurses, and physician assistants. The average salary of healthcare professionals in India is 10LPA (approx.) The average salary of a General Surgeon in India is 11LPA (approx.) Investment Banking The high salaries of investment bankers are due to the nature of their work. They are responsible for raising company capital and providing clients with financial advice. With the Indian economy expected to continue growing at a rapid pace, investment banking is expected to be one of the most lucrative industries in the country. A study found that investment bankers earn an average annual salary of ₹2,93,741 with the highest salary ranging up to ₹25,20,000. Data Science Data scientists are in high demand in India, and the trend is only expected to continue in the coming years. Businesses increasingly rely on data to make decisions, so they need experts who can collect, analyze, and interpret this data. Data scientists are uniquely qualified for this task, and their skills are in hot demand. In fact, data science was recently named one of the highest-paying jobs in India for 2022. Salary levels will vary depending on experience and location, but data scientists can expect to earn a very good income. The average base pay of Data Scientists in India is ₹11L /yr. Engineering India is experiencing an economic boom, and as a result, there is a growing demand for skilled workers. Engineering is one of the most in-demand fields, and it is expected to become even more popular in the coming years. The highest-paid engineers specialize in areas such as artificial intelligence, big data, and cloud computing. The average base pay of Engineers in India is ₹6,00,000 /yr with the highest salary ranging as much as 2 lac per month. Chartered Accounting As the Indian economy continues to grow, so does the demand for skilled professionals. Chartered Accountants have some of the best jobs in India and are in high demand by both local and multinational companies. The role of a chartered accountant is to provide financial advice and support to clients. They are responsible for ensuring that the financial statements of their clients are accurate and follow regulatory requirements. The average base pay of a Chartered Accountant in India is ₹9,00,000/yr. Management Consulting Management consultants are in high demand due to the continued growth of the Indian economy and the increasing complexity of businesses. They provide valuable advice and guidance on strategic and operational issues and help organizations to achieve their goals, making it one of the most attractive career options in the country. If one has the skills and qualifications required for this demanding role, then a career in management consulting could be very rewarding. The average base pay of a Management Consultant in India is ₹11,49,770/yr. Full Stack Software Developing A full-stack software developer is a professional who can develop and manage both the front and back ends of a software application. The front end consists of the graphical user interface (GUI) that allows users to interact with the software. In contrast, the back end handles the more technical aspects such as database management and security. Full-stack developers are in high demand due to their ability to manage both sides of the software development process. The average base pay of a Full Stack Developer in India is ₹6,06,000 /yr Machine Learning India has been known as a leading country in the field of Information Technology. After all, the country is home to some of the world’s largest IT service companies. However, in recent years, India has also emerged as a major player in the field of machine learning. As machine learning becomes more prevalent, demand for machine learning experts is also on the rise. The average base pay of a Machine Learning expert in India is ₹9,00,000 /yr Aviation With the rapid growth of the aviation industry in recent years, it comes as no surprise that aviation services are among the highest-paying jobs in India. Aviation services include a wide range of jobs, from pilots and flight attendants to air traffic controllers and aircraft maintenance technicians. The demand for qualified candidates is expected to continue to grow in the coming years, making it an excellent career choice for those looking for stability and high earnings potential. The salary range for Aviation Services ranges from 3 lacs to 8 lacs/ month. Business Analysis Business analysts typically have a background in accounting or finance, and their deep understanding of data makes them uniquely qualified to help organizations make better decisions. With businesses across India seeking talented professionals, there has never been a better time to enter this exciting field. The average base pay of a Business Analyst in India is ₹7,70,000 /yr [B-02] Parting Words While many of the jobs on this list are in line with global trends, there are a few unique entries that reflect India’s growing economy and burgeoning middle class. With an ever-growing population and an increasingly tech-savvy workforce, India is poised to take over as the world’s leading economic power in the next decade. Are you excited about the prospect of these highest-paying jobs in India? If so, start preparing yourself today! If you need help funding your certifications for such a career, visit Piramal Finance. Get easy and customised credit card and personal loan solutions from their website today.
08-11-2023
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Dream Mobile

India&#8217;s Top 10 Mobile Companies: The Best Mobile Brands of 2022

India is one of the fastest-growing economies in the world and its mobile market is booming. India has more than 1.2 billion people, and over 900 million of them are mobile phone users. The mobile phone industry is growing rapidly all over the world and India is no exception. In India, there are dozens of mobile brands, but only a few of them are successful. In this post, we will look at the top 10 mobile brands in India and see which brands are expected to dominate the market in 2022. So, without further ado, let’s take a look! [B-01] OnePlus Based on research and analysis, it is fair to say that OnePlus will be one of the best mobile brands of 2022. The brand has been constantly innovating and making quality products to meet the needs of consumers. OnePlus has a strong presence in both, online and offline channels. This makes it easily accessible to consumers. Furthermore, the company has a track record of providing good customer service, which builds trust and loyalty among customers. You can consider OnePlus if you are looking for a phone that is affordable and offers the same features as other high-end smartphones. Samsung The company has been in the business for many years and has gained a lot of experience in manufacturing quality products. Samsung mobile phones are known for their durability, sleek design, style, and performance. A wide range of mobile phones is available from Samsung to meet the needs of different customers. Samsung has also introduced some innovative features in its phones. Some of the best models of Samsung mobile phones include the Galaxy S8, Galaxy S9, and Galaxy Note 8. Apple Apple is one of the top mobile brands in India as well as in the world for many years. The company is known for its high-quality products and cutting-edge technology. In recent years, Apple has released several new products, such as the iPhone 13, iPhone 14 and the Apple Watch. With each new release, Apple has become a stronger brand in the market. As per industry experts, the year 2022 will be no different. It has a strong product pipeline and a growing base of loyal customers. With this, Apple is expected to remain one of the world’s top mobile brands in India. Xiaomi Chinese brand Xiaomi has been making quality mobile phones for years. With each passing day, they’re only getting better. Their phones are packed with features and are always up-to-date with the latest trends. Naturally, Xiaomi is one of the best mobile brands in the market. Customers hope that they are only going to get better in the years to come. Google Google is not a search engine anymore. In the past decade, the company has entered the mobile market and is now one of the leading manufacturers of smartphones and tablets. Along with its popular Nexus line of devices, Google has released several innovative products. These include the Pixel phone and the Chromebook laptop. Google is well on its way to easily coming in the top 10 mobile brands in India. Its cutting-edge technology and easy-to-use software are popular among users. Vivo Vivo is a rapidly emerging Chinese phone manufacturer. It has managed to make a name for itself in a short period of time. The company offers a wide range of phones that cater to various budgets. It has managed to garner a loyal customer base of budget-conscious buyers. Vivo has recently expanded its reach by setting up operations in India and other countries. Its aggressive marketing and competitive pricing techniques have made Vivo one of the most popular phone brands in the world. Oppo Founded in 2004, the Chinese brand Oppo has rapidly become one of the top mobile brands in India now. It has positioned itself well in the Indian market with a wide range of innovative products. Oppo phones are known for their excellent cameras. The company continues to invest heavily in research and development of its camera technology. Motorola Motorola has been one of the best mobile brands since it released its first smartphone in 2003. The company has released several groundbreaking devices over the years. This includes the world’s first Android phone, the Moto X. Motorola has also been a pioneer in 5G technology. Its latest product, the Moto Edge Plus, is one of the most 5G-compatible devices on the market. Motorola phones are well-known in the market for their innovative hardware and user-friendly features. LG LG’s phones are known for their high quality, durability and innovative features. The new range of LG phones released at the recent Mobile World Congress shows that LG is still at the cutting edge of mobile technology. Its new flagship phone, the LG G8 ThinQ, is set to be released later this year. LG is set to continue its tradition of delivering high-end phones that offer a great user experience. Nokia Nokia was once the undisputed leader in the mobile world. It fell on hard times in the early 2010s. However, the company has made a comeback in recent years with its renewed focus on quality and innovation. Nokia phones are widely regarded as some of the best-designed and most reliable in the market. Nokia has also been quick to adopt new technologies like 5G and AI. [B-02] Parting Words India is one of the largest mobile phone markets in the world. India’s top mobile companies are preparing for the future by investing in new technologies. Many mobile companies in India continue to grow and offer great features. This article lists the top 10 mobile brands in India. These companies are sure to lead the market with their innovative products and services. Which company do you think will be at the top? Read more related blogs on the Piramal Finance website, or explore their financial products and services, such as personal loans, credit cards, and financial calculators.
08-11-2023
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