More articles for you

Your one stop place for everything related to finance and lending

Home Loan

Best Offer on Home Renovation Loan This Diwali

All home’s lustre fades and mechanical issues crop up with time. Weather, natural disasters, and old faulty wires can cause problems. Thus, maintaining and renovating your house is necessary. But routine home renovations and repairs are expensive. Prices of materials and labour are on the rise. So let’s learn more about a simple solution: home renovation loans. [B-01] What is a home renovation loan? A home renovation loan is a loan you can use for different house-related objectives. For example, you are making repairs or upgrades or aesthetic changes. They function like home loans. A home loan buys you a property, while a home renovation loan helps with renovation costs. There are two main categories of home renovation loans: secured and unsecured. 1. Secured home renovation loans If you provide an asset as collateral when taking out the loan, the loan is secured. The advantage of this type of loan is that you can borrow more at a lower interest rate and a longer tenure. The interest on this loan is also deductible. 2. Unsecured home renovation loans This loan is riskier for the lender because it does not have collateral in the form of a house. Smaller loans carry a higher interest rate and must be repaid in less than 10 years. Interest on these loans is not deductible and depends on borrowers’ credit histories. What are the Eligibility Criteria? The eligibility criteria for a home renovation loan are comprehensive. They are different for both salaried and self-employed applicants. What are the criteria for salaried applicants? Age: 21-70 years Employment type: working in a Government institution, Public Sector Undertaking, Private-Sector Companies, etc. CIBIL score What are the criteria for self-employed applicants? Age: 23-70 years Employment Type: Self-employed professionals like doctors, CAs, architects, etc. with their practice can apply. Self-employed Non-Professionals, Business Owners, Proprietorship, and Partners of a Partnership Firm can apply. What documents do I need to submit? You need to provide proof of all details you provide on the application. These documents need to be attached with your application. General documents everyone needs to submit. Application form with a recent photograph Proof of Identity (Passport, driving license, Aadhaar card, voter’s identity card, etc.) Proof of Income (Salary Slips of 3 months, bank statement of 6 months) Proof of Residence (Passport, driving license, Aadhaar card, utility bills, job card issued by NREGA, etc.) Documents for collateral if asked Documents for salaried applicants. ITR for the latest 2 years Form 16 Documents for self-employed applicants. Last 2 Years ITR / CA Audited Financials Where Ever Applicable The lender may ask you for additional documentation not listed here. What are the fees on home renovation loans? Here are the charges associated with the home renovation loan: Processing fees: 3% of loan amount + Taxes Part prepayment/pre-closure charges: approximately 2% of the loan amount Others such as (EMI reschedule charges, statement charges, and certificate issuance charges): Rs. 500-5000 + taxes (depending on the document/service) What are the loan interest rates? Interest rates for home renovations are not fixed but depend on factors such as: Your credit history The loan amount requested The loan term requested Interest rates for home renovations are lower than those on conventional mortgages. A fixed-rate agreement and a floating interest-rate plan are available. Before deciding on the best renovation loan, compare the rates various lenders offer. If you have other demands, you will see that some lenders offer tailored services. What is the after-renovation value? The after-renovation value of a home is a primary consideration in determining the principal amount of a loan for home renovations. When determining your eligibility, lenders perform some prerequisites. Lenders often look at the estimated worth of a home after repairs and upgrades. As a result, you can get access to larger amounts for home renovation loans. The only loan offering money based on the future value of the home is a home renovation loan. Home renovation loans are a good funding source. They are also a wise investment because of the rising real estate value. When should you consider applying for a home renovation loan? You can apply for a loan if you are sure the property value will increase. Only borrow money to renovate your home if you are positive it will increase the property value. You can recoup more of your investment in home renovations than you put into them when you sell your house. You can get a loan to renovate certain areas of your home. Renovating your attic, basement, bathroom, or front door is an excellent investment. By renovating these parts of the home, you are increasing the value. At the same time, you are not renovating the house. Put your money where it will do the best if you want to increase the resale value of your home. You are sure the renovation will reduce expenses. If a repair will reduce your monthly expenses or make your home safer, it is wise to use home renovation loans. Repairs to the roof, siding, and windows fall under this category. They contribute to the weatherproofing and efficiency of your property. If you are sure the renovation is important and will increase the property value, you can apply for a home renovation loan. [B-02] Conclusion A home renovation loan can help you remodel a home without breaking the bank. After verifying your eligibility, you can apply for a house renovation loan. Also, you can improve your loan approval odds by ensuring you meet all requirements. You should ensure that the loan’s terms and interest rates match your finances. Applying for loans outside your borrowing capacity can create financial risks for you and your family. It is a good idea to consider a cost-benefit analysis before you apply for a home loan. If you are looking for the best home renovation loan, Piramal Finance is the way to go!
08-11-2023
Read More
Electronics

Best Gaming Laptops In India- Price & Specs

Choosing the ideal laptop for gaming is difficult. However, it is important to consider the device’s processing power, screen size, and other critical aspects to pick the ideal buy for casual and serious gaming. The price tag is also important to consider while shopping online for a laptop computer designed for gaming. Thanks to the high-quality visuals, powerful graphics processor, and other features available on today’s laptops designed for gamers, you won’t have to worry about any stuttering or delays in your favourite games. There is enough diversity on the market for you to feel overwhelmed by the sheer number of laptops available, as they span virtually every price point. Our compiled list of recommended options will help you narrow your search for the ideal gaming laptop. If you’re looking for a new device to play your favourite games whenever you like, this list will help you narrow down your options based on factors such as cost, processing power, screen size, and more. You can find the best gaming laptops on the internet, and this information will help you choose the perfect one by letting you compare the most popular models. Besides, you need to consider your budget to purchase the finest gaming laptop without breaking the bank. [B-01] Best Gaming Laptops in India Here, we’ll go over the greatest gaming laptops for less than Rs. 1 lakh, which are most people’s favourites. We considered price, graphics, processing power, and RAM capacity when selecting the greatest gaming laptops for under Rs. 1 lakh. HP Victus: Rs. 62,999 Pros Anti-glare screen Powerful graphics card support Affordable price Large display Cons Less RAM Features Processor: AMD Ryzen 5600H Graphics Card: 4GB DDR6 GTX 1650 RAM: 8 GB Review The HP Victus is our pick for the finest gaming laptop in general. This notebook features an AMD Ryzen 5 5600H processor and up to 8 GB of RAM. Its sleek, mica-silver chassis houses a massive 16.1-inch display and up to 512 GB PCIe NVMe TLC M.2 SSD storage capacity. The HP Victus is equipped with the latest AMD Ryzen 5 processor, making it capable of running numerous programmes simultaneously. The processor is robust enough to handle taxing activities like gaming and editing software while being effective enough to provide a long-lasting battery. This laptop’s 16.1-inch HD display and AMD Ryzen 5 chip make it a great choice for gaming and watching movies. The GTX 1650 GPU and up to 32 GB of RAM make for outstanding images on the laptop’s 16.1-inch screen. Dell G15 5511: Rs. 97,500 Pros Powerful processor Superior performance No heating issues Nice design Cons Pricey Features Processor: Intel Core i5 11400H Graphics Card: 4GB DDR6 GTX 1650 RAM: 16 GB Review Dell’s G15 5511, with its 11400H CPU and 16 GB of RAM, is a powerful laptop. This laptop has a 15.6-inch 250-nit Full High Definition (FHD) Wide View Angle (AG) display with Full High Definition (FHD) Wide View Angle (AG). The laptop is quick, and its ergonomic form and built-in cooling system add to its other positive qualities. For example, in addition to the 512GB of SSD storage, it has an RTX 3050 Ti graphics card for running games and other resource-intensive programmes without a hitch. If you’re looking for a professional-grade laptop with dedicated graphics processing, look no further than the Dell G15 5511. It’s one of the most in-demand items on the market because of its stylish style and high specifications. This laptop’s Intel Core i5-11400H processor with 16GB of DDR4 RAM ensures brisk performance in video games, movies, and other resource-intensive tasks. It has an RTX 3050 Ti GPU with 4GB of GDDR6 and can run multiple 4K displays at the same time. Lenovo IdeaPad Gaming 3 (Core i5): Rs. 57,999 Pros Efficient processor speed Affordable price Impressive graphics support Anti-reflective display Cons Limited RAM Features Processor: Intel Core i5 10300H Graphics Card: 4GB DDR6 GTX 1650 RAM: 8 GB Review The Lenovo IdeaPad Gaming 3 comes standard with a 10300H processor and 8GB of RAM, both of which are upgradeable to a maximum of 16GB. This laptop costs approximately Rs. 57,999. In addition to a 15.6-inch Full HD screen, you’ll be offered a free upgrade to Windows 11 when it becomes available. The Lenovo IdeaPad Gaming 3 is a powerful gaming laptop with all the specs and features that a serious gamer might want. This laptop is it if you’re looking for a gaming laptop that won’t break the bank. This gaming laptop features an Intel Core i5 CPU that you can push to 4.5 GHz and an 8 MB cache. These features make it suitable for demanding gaming without experiencing excessive glitches in performance now and then. It’s built for gaming and regular use thanks to its 512 GB of SSD storage and 8 GB of RAM (expandable to 16 GB). HP Pavilion Gaming: Rs. 61,990 Pros Excellent value-for-money Excellent build quality Beast in terms of gaming Superb performance Cons Less RAM Features Processor: AMD Ryzen 5 5600H Graphics Card: 4GB DDR6 GTX 1650 RAM: 8 GB Review The HP Pavilion Gaming laptop boasts the industry’s most potent graphics processing unit, the industry’s quickest central processing unit, and a 15.6-inch screen. If you’re looking for a gaming laptop, look no further; this one has top-tier specs without breaking the bank. If you want a top-notch gaming computer, look no further than the HP Pavilion Gaming. It has a powerful graphics card—the GeForce GTX 1650 4 GB GDDR6—that can handle leisure and professional gaming demands. It also has 512 GB of PCIe NVMe M.2 SSD storage and 8 GB of DDR4-3200 RAM. Lenovo Ideapad Gaming 3 (Ryzen 7 5800H): Rs. 72,990 Pros Impressive RAM Excellent graphics support High-quality display Easy to operate Cons The build quality could have been better. Features Processor: AMD Ryzen 7 5800H Graphics Card: 4GB DDR6 GTX 1650 RAM: 16 GB Review The Lenovo Ideapad Gaming 3 has a 15.6-inch Full HD screen and a shadow-black chassis. There isn’t a better low-cost laptop with 16 GB of RAM than this one, and you can acquire it for only about Rs. 72,390. It has powerful hardware, like an AMD Ryzen 7 5800H processor and GTX 1650 4GB GDDR6 graphics. The IdeaPad Gaming 3 from Lenovo is a robust and reasonably priced gaming laptop, boasting the most recent AMD Ryzen 7 5800H, 16GB of RAM, and 512GB of SSD space. With a 45Wh battery and up to 4.5 hours of runtime, and with 4GB of GDDR6 graphics performance, games and other content creation software will run more smoothly than before. This gaming laptop is one of the best because it has a powerful dual-core processor and better graphics performance, among many other things. [B-02] Conclusion We intend this information to be useful in locating the best gaming laptop in India. These were the top 5 gaming laptops in India, so pick one of those if you’re a gamer. You’ll have the best gaming experience on these laptops, which are within your budget and have the best processors and graphics processing units (GPUs). If you’re looking for a personal loan to buy a new laptop, don’t worry; apply for a quick personal loan and get instant funding!
08-11-2023
Read More
Mutual Funds

Best Performing SIP Mutual Fund to Invest in?

Systematic investment plans (SIPs) are a wise strategy to build wealth. A SIP allows you to invest regularly in a mutual fund. It’s common to make an initial commitment while engaging in investing. But, a SIP investment allows you to invest tiny amounts on an as-needed basis. This characteristic is helpful for beginner or inexperienced investors. There are many categories of MFs, but you should select an MF based on how much risk you can take. You can evaluate your risk based on your goal. Here is a list of top-performing MFs. [B-01] What is the best-performing SIP mutual fund to invest in? Low-risk SIP mutual funds HDFC Credit Debt Risk Fund – Direct-Growth Plan HDFC Credit Debt Risk Fund was launched on Mar 06, 2014. The minimum SIP investment in this mutual fund is Rs. 300. The mutual fund type is debt (credit risk). The fund has provided 3-year returns of 7.07% and 5-year returns of 6.92%. You can get an average return per annum of 8.97%. Quant Infrastructure Fund Quant Infrastructure Fund was launched on Jan 01, 2013. The minimum SIP investment in this mutual fund is Rs. 1000. The SIP mutual fund type is equity social infrastructure. The fund has provided 3-year returns of 40.7% and 5-year returns of 22.2%. You can get an average return per annum of 17.25%. ICICI Prudential Regular Savings – Direct Growth ICICI Prudential Regular Savings Fund was launched on Jan 01, 2013. The minimum SIP investment in this mutual fund is Rs. 100. This is a conservative hybrid fund. The fund has provided 3-year returns of 9.74% and 5-year returns of 8.98%. You can get an average return per annum of 10.63%. Moderate-risk SIP mutual funds Mirae Asset Large-Cap Fund Mirae Asset Large-Cap Mutual Fund was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 1000. This is an equity large-cap fund. The fund has provided 3-year returns of 16.28% and 5-year returns of 12.66%. You can get an average return per annum of 17%. Quant Absolute Fund – Direct-Growth Quant Absolute Fund was launched on – Jan 01, 2013. The minimum SIP investment in this fund is Rs. 1000. This is an aggressive hybrid fund. The fund has provided 3-year returns of 31.58% and 5-year returns of 21.29%. The average return per annum of Quant Absolute Fund is 18.18%. Baroda BNP Paribas Conservative Hybrid Fund Baroda BNP Paribas Conservative Hybrid Fund was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 500. This is a conservative hybrid fund. The fund has provided 3-year returns of 7.8% and 5-year returns of 7.63%. The average return per annum of this fund is 9.44%. Robeco Bluechip Fund – Direct-Growth Plan Robeco Bluechip Fund was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 1000. This is an equity large-cap fund. The fund has provided 3-year returns of 18.65% and 5-year returns of 15.5%. The average return per annum is 14.88%. High-risk SIP mutual funds BOI AXA Small Cap Fund Direct-Growth BOI AXA Small Cap Fund was launched on Nov 28, 2018. The minimum SIP investment in this fund is Rs. 1000. This is an equity small-cap fund. The fund has provided 3-year returns of 40.83%. The average return per annum is 31.33%. Axis Bluechip Fund Axis Bluechip Fund was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 100. This is an equity large-cap fund. The fund has provided 3-year returns of 13.53% and 5-year returns of 14.02%. The average return per annum is 15.26%. Mirae Asset Tax Saver Fund Mirae Asset Tax Saver Fund was launched on Nov 20, 2015. The minimum SIP investment in this fund is Rs. 500. This is an ELSS fund. The fund has provided 3-year returns of 20.99% and 5-year returns of 15.62%. The average return per annum is 19.92%. Kotak Bluechip Fund Kotak Bluechip Fund was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 1000. This is an equity large-cap fund. The fund has provided 3-year returns of 17.45% and 5-year returns of 13.31%. The average return per annum is 14.67%. Quant Tax Plan Direct-Growth Quant Tax Plan Direct-Growth was launched on Jan 01, 2013. The minimum SIP investment in this fund is Rs. 500. This is an ELSS fund. The fund has provided 3-year returns of 40.66% and 5-year returns of 23.69%. The average return per annum is 21.74%. How do SIP mutual funds work? Understanding a mutual fund SIP plan is not difficult. A single SIP investment can be as little as Rs. 100 and made at any frequency over a period. Weekly, monthly, or quarterly contributions are also acceptable. Gains from a SIP compound over time, increasing the total amount earned. In its simplest form, the SIP plan functions like a savings account. Regular deposits of small amounts eventually add up to a sizable sum. SIPs help people develop a habit of saving money regularly. Why invest in SIP mutual funds? They help with money management. In a mutual fund plan, regular investments are a part of implementing a SIP. For those who can only afford to put away a little bit each month, SIPs are a godsend. They are easy to use and practical. You need to choose only the frequency and total amount of SIP. On the due date, the bank will automatically deduct the specified amount. You can easily monitor each SIP in a mutual fund. Stopping a SIP is easy and can be done anytime. They help with financial planning. Although saving is not a walk in the park. If you plan, you will find it much easier to save and invest. Investing regularly is a smart way to save money. Thus, investors need to make saving and investing a habit. [B-02] Conclusion SIP mutual funds are a common choice among individuals seeking to invest their own money. Investors in India can choose from thousands of different mutual fund schemes. However, picking the top mutual funds is a difficult task. Your investment objectives, level of comfort with risk, and time horizon will determine which of the top mutual funds is right for you. Want to learn more about investing, mutual funds, and personal finance? Visit our blog!
08-11-2023
Read More
Personal Loan

Get An Instant Personal Loan To Buy Home Appliances (Consumer Durable Loan) Online

Is an instant personal loan a good idea? How do you obtain it? Consumer durable loans have been popular for a long time, but as the digital world grows, more and more people want to own consumer goods. A “consumer durable loan” is a non-traditional form of consumer financing that can help many people buy things like refrigerators, washing machines, LED TVs, air conditioners, supermarket microwave ovens, furniture, and clothing. [B-01] Advantages of a personal loan With no interest You can get a personal loan for home appliances with low monthly payments and no interest. You don’t have to put anything up as security when you seek a loan from us on a consumer durable. Accepted Immediately You may now verify your eligibility online, which should take you no more than two minutes. You may start buying immediately since our approvals are swift, no matter where you are. The consumer durable loan application procedure is easy and durable. Only documentation has to be completed. You will need to supply basic “know your customer” (KYC) documentation and personal information to apply for a consumer durable loan. Why is a consumer durable loan in higher demand? Rising prices and changing customer needs are solved by the best personal loan for home. You can buy a washing machine or an LED TV with this loan. Find a new washing machine or a big LED screen here. After a long day, escaping the oppressive heat in an air-conditioned room is enough to make anyone happy. Due to the high cost of home appliances, many people can’t afford to have fun. You won’t have to worry about how to pay for TVs, refrigerators, and washing machines with a personal loan. Personal loan to buy electronic has a solid reputation as a reliable loan partner. With a consumer durable loan, you can buy low-cost appliances. Instead, use the regular income to make monthly payments. Either option is possible with the loan. Stashfin offers the lowest interest rates and the most flexible payment plans for long-term purchases. The Consumer Durable Loan has the potential to improve your life in three ways: Your gadgets need an upgrade. Many modern devices have made our daily lives simpler. We’ll need their assistance at times to advance in our professions. So you deserve the finest of anything you choose to purchase for yourself, whether it’s a laptop to help you get your office work done or a mobile phone to stay in contact with your family. A personal loan for home appliances provides you with the funds you need to purchase anything large, and you may make payments over as long or as short a period as you choose. Make changes to your house. Have you ever considered learning to bake? You can now purchase the most recent microwave grill. You may get a high-definition television or a new washing machine to make laundry easier. To make your house seem like a home, you may be as creative as you like. So, a personal loan to buy electronics is indeed a lucrative option. Change your way of life. A consumer durable loan may be used to update and upgrade your property. You may finally take that long-awaited vacation since the loan will not cost you any interest and you will not have to complete a lot of paperwork. Why personal loans for homes are in such high demand? Easy verification process We will not keep you waiting, and giving you a head start will allow you to accomplish more. You may shop whenever and wherever you choose when your financing is authorized. Before Hand, EMI Credit Card Approved Our first objective is to satisfy repeat clients, so we strive to go above and beyond every time. You may apply for a pre-approved EMI card if you already have a personal loan for home appliances. Feel free to use the card to purchase whatever you want at any of the stores with whom we’ve partnered. No costs to ensure that the foreclosure procedure The EMI on a consumer durable loan may be terminated after the first payment. We do not charge any additional costs throughout the foreclosure process. What does calculating the EMI on loans for consumer durables imply in this context? Use this calculator to determine the equated monthly instalment (EMI) amount you can pay toward the loan’s principal and interest each month. Use the EMI calculator to determine your monthly payment and the total amount owed over the life of the loan. With the EMI calculator, you can easily find out how to repay your loan and make your monthly instalments. With the help of this calculator, you can figure out the EMI of a personal loan for home appliances without any tension. [B-02] Summing up The primary purpose of this article is to describe in detail the first procedures required to get your personal loan for home appliances. To trade commodities in India, you must be well-versed in the subject. The customer must know all possible tactics to avoid losing more than he can afford to replace. To be successful in commodity trading in India, you must put in a lot of time and effort. That is the best decision you can make about your personal loan for home appliances. Determine the appropriate method and consider all considerations. You must pay great attention to what has come before you. Check out Piramal Finance for more articles that are both informative and detailed.
08-11-2023
Read More
Personal Loan

Get an Instant Personal Loan To Buy Home Appliances

Have you found the perfect home appliances for your new home or a great replacement for an old one? If you want to finance the new appliance, you can happily stop your search now. We bring to you the best way to finance home appliances: instant personal loans. By taking an instant personal loan, you would no longer need to deny yourself these necessary home appliances. [B-01] What is an instant personal loan? An instant personal loan is a type of loan that can be taken without collateral. This means you can take an instant personal loan without keeping any of your assets as security. This is unlike other kinds of loans. Loans such as house and auto loans need you to keep some of your assets as collateral. These assets are usually any property, house, gold, or other valuable assets. Instant personal loans are provided to people who have good credit scores. This means you must be one of those people who has a track record of timely loan repayment. The better your score, the better deal you’ll get. Features of an instant personal loan As said above, an instant personal loan is an unsecured loan. The loan amount depends on the income of the borrowers. Other factors like credit history, job history, and the type of lending institute also play an important role in determining the loan’s value. Personal loans usually have higher interest rates as there are no assets to back them. Instant personal loans can be used for a variety of reasons. But one of their topmost applications is financing a list of home appliances. Benefits of an instant personal loan 1. Simple access to funds It’s now simpler than ever to get the money you need with an instant personal loan. The days of waiting in lines at the lender’s branch are long gone. You can apply for a personal loan online with a few simple clicks. The entire digital process is quick and simple, taking only a few minutes. Even some lenders offer mobile-friendly websites and applications that let you borrow money wherever you are. 2. A funding solution without collateral Given your busy schedule, you might not have the time or energy to devote to laborious financial procedures. If you choose a secured loan where you must put up an asset as collateral, you may run into this issue. However, these difficulties are avoided because an instant personal loan is an unsecured offering. It’s much simpler to borrow money because you can apply without pledging assets. Thus, it is a great way to finance your list of home appliances. 3. Clear specifications mean little paperwork Leading lenders have simplified the process of applying for an instant personal loan. Many lenders will now only have minimum requirements in addition to offering collateral-free products. These will primarily evaluate your citizenship, job status, credit score, age, and annual income. Furthermore, you won’t need to bother producing a lengthy list of supporting documents. Instant personal loan providers are likely to ask for a minimal amount of paperwork, and some may even have a paperless option. 4. Quick loan approval and disbursement options Big-ticket home appliances like washing machines, televisions, air conditioners, or other devices like cell phones are frequently offered at discounts. You can swiftly close these purchases with a personal loan without depleting your resources. A few reputable lenders offer unique loan features that might ensure quick fund access. You might be able to receive immediate approval for a personal loan, depending on the lender and your financial situation. Apply online, send the required paperwork, and you’ll get the go-ahead in no time to buy your home appliances list. 5. No usage limitations An instant personal loan sanction can be used in any way, unlike other forms of finance. It can be used in any way you want and can pay for any appliance-related costs. You can use a personal loan if you suddenly change your mind about what you want to buy and can’t go through with your original plan. 6. Long-term, flexible tenure Utilising an instant personal loan is wise since it allows you to maintain your financial stability long after you have paid off the appliance. This is because you only have to make a manageable monthly instalment and don’t have to endure the full burden of large payments. Many lenders provide a repayment window of up to 60 months. Eligibility for Instant Personal Loans The requirements for personal loans vary depending on the bank. Therefore, it is wise to evaluate the eligibility requirements of various banks before choosing one. The following are the standard requirements that most banks use and that apply to most types of personal loans: For those who receive salaries: The applicant must be older than 21. The applicant’s age at the time of loan maturity should not exceed 60 years. The candidate should have worked for at least two years and spent a year at the current company. The candidate should earn between Rs. 7,500 and Rs. 15,000 per month as a minimum income. For independent contractors and business owners: The applicant must be 25 years of age or older. When the loan is due, the applicant’s age cannot exceed 65. The applicant should have three years of business or professional experience. The professional or businessperson must make at least Rs. 1 lakh annually. Documents required for an instant personal loan Regardless of the form of personal loan, banks often require income evidence, address proof, and identity proof. You must also send two passport-size pictures in addition to this. You can show proof of your income by giving your most recent bank statement or your last two years’ worth of tax returns. You can also be required to provide documentation of your employment continuity. You may do this by submitting Form 16 or your letter of appointment. A copy of your passport, PAN card, driver’s licence, voter ID, or Aadhar card may be provided as proof of identity. Depending on the type of loan, you can also be asked to complete additional paperwork. [B-02] In conclusion Visit Piramal Finance to learn more about the financial sector and how to obtain the best loans. Indian-based Piramal Finance provides financial services. It has joined the retail lending industry with a focus on consumer-oriented financing products such as personal loans, business loans, mortgage loans, and housing loans. Check them out and satisfy all your financial needs.
08-11-2023
Read More
Home Loan

Best Home Loan Offers To Reduce Home Loan EMI After Moratorium

After the second amendment to the Real Estate Regulation Act, it has become much more difficult for home buyers in India to get loans. Lenders have been asked to comply with stringent norms laid down by the Reserve Bank of India (RBI). However, that doesn’t mean you should give up on getting a home loan or mortgage. Instead, look for different ways to reduce borrowing costs and ensure that your monthly payment is as affordable as possible. Read on about some of the ways people availing home loans in India can try to reduce the EMI costs after the moratorium. [B-01] Can we reduce home loan EMI? When a home loan is taken, the bank or financial institution takes a certain amount from you as a home loan amount, which includes interest, and a part of your home loan amount goes towards the home loan amount. The loan amount and EMI (or EMIs) are what the bank charges you monthly as a home loan. But there are many ways to reduce home loan EMI. One way is to refinance a home loan, which we will discuss later in the article. Another way is to get a home loan from a smaller or new bank altogether. Why is reducing home loan EMI a smart strategy? There are many ways to reduce home loan EMI, but why should you reduce home loan EMI? The answer is simple. The new bank regulations have made it tougher for home loan borrowers to repay their home loans. It has led many home loan borrowers to refinance their home loans and get lower interest rates. Another reason to reduce home loan EMI is that interest rates are expected to rise very soon. So, if you have a home loan, it’s best to reduce it now so that you don’t pay more later. Home loan offers to reduce EMI When it comes to home loans, you need to be extra careful. You can reduce home loan EMI by refinancing your home loan, refinancing your existing home loan, or getting a home loan from a smaller bank. However, before doing any of these, you must make sure you can afford the home loan payments. A home loan is the best way to finance your property, but it has become tough to get a home loan due to new bank regulations. If you want to reduce your home loan EMI, there are some ways that you can do it. When looking for offers to reduce your home loan EMIs, you’ll need to research different loan programmes offered by the banks you work with to see the available options. Many loan providers and offers from different lenders may not apply to you due to location or other factors. If you’re refinancing, it’s important to remember that the interest rate and amount of the loan will vary depending on your credit score and other factors. Remember that the best offers will be available only if you’re creditworthy and can repay the loan in full. Here’s how you can reduce home loan EMI: Get a Home Loan with the lowest loan rate When it comes to getting a loan, there are many factors you’ll want to take into account. One of the things you’ll want to look for is the lowest possible interest rate. The interest rate is one of the main things lenders will factor into your monthly payment, as it sets the bar for your monthly payment amount. Remember that you can always shop around at different lenders and ask for different interest rates or loan amounts. Once you’ve found the best deal, stick to it. Choose a flexible repayment period One of the things you can do to lower your monthly loan payment is to change your repayment period. If you originally planned on repayments for 20 years and then decide you need a short-term loan, you can change your repayment period to 10 or 15 years. It will lower your monthly payment but increase the loan amount over time. Choose the EMI option with the lowest interest rate When trying to find the best offer on a housing loan interest rate, you want to make sure you choose the best option so that you end up paying less. It involves looking at interest rates and then going down as you can’t ignore all other terms and conditions just because the interest rate is low. There are many different ways to go about this, such as using a calculator and finding the lowest number that works for you. Another way is to contact or speak with different lenders. Take advantage of discounted bundled loans Some lenders will offer you a discounted bundled loan if you take out a regular loan to help lower your interest rate. These will usually be for 10- or 15-year loans and the lender will offer you a lower rate and a longer repayment period in exchange for the discounted loan amount. It is one way to get around the low-interest rate and get a lower monthly payment. Home loan interest rates in India Housing loan interest rates in India are low – between 7% and 7.5% in most cases – which is great news for homebuyers. Various home loan options are available, with varying interest rates and terms. You can find a home loan right for you, no matter your budget or credit history. Plus, several lenders are available in India, so you’ll be able to find a low-interest rate that meets your needs. There are also several advantages to choosing a home loan in India. For one, the house loan interest rate in India is low, so you’ll be able to afford your home more easily. And because the Indian economy is growing rapidly, the rupee value has also increased, which means you’ll get a better deal on your home loan than in other countries. So if you’re looking for a low-interest home loan, look no further than India. [B-02] Bottom line You’ll want to check different lenders to discover the best options when looking for a home loan. Remember that the best offers will be available only if you’re creditworthy and can repay the loan in full. If you’re looking for the best offers and low house loan interest rate options, you must check Piramal Finance, well-known in the market for its flexible options.
08-11-2023
Read More
Stocks Markets

Why Do Companies Split Shares?

Has a firm in which you have invested or were hoping to invest shortly split shares, causing the prices to drop suddenly? Now, you are uncertain about your position. Then, this article will give you an overall idea of the motive behind the stock split. Also, determine how it can affect your investments so that you can plan your future investment strategies accordingly. Any investor desires a stock that can generate generous returns on its investments. But it is often observed that even a stock with good prospects is challenging for an average investor to invest in, owing to its high share price. This kind of market condition often leads to companies splitting their shares and increasing the affordability of the share. [B-01] What Is A Stock Split? Any publicly listed company has a fixed market capital equally divided in its outstanding number of shares. Also, every company is associated with a face value, which is its original value. A stock split is a corporate decision taken by a firm to increase the number of outstanding shares in a fixed ratio, keeping the market capital constant. In the process, the face value and stock prices simultaneously decrease in the same ratio. For example, let there be a firm A with a face value of Rs 100 and an outstanding number of shares of 1 million. Now, the board of directors of A has decided to split shares in a ratio of 10-for-1 split. So, the outstanding number of shares of A now becomes 10 million. The investors end up with 10 times the number of shares they had before, while the face value and current trading value of A fall 10-fold to Rs 10. The market capitalisation of A remains the same as before the stock split. The most common split formats are 2-for-1 and 3-for-1, where the investors end up with twice and thrice the previous number of shares, respectively. Motive Behind Companies Splitting Their Shares Sometimes, a company’s share price increases way too much, concerning its peers in the same industry, and the share’s affordability is compromised. This might make an investor uncomfortable and unsure of his investment choices. This is when a company’s board of directors decides to split stocks. Such a decision increases the share’s affordability while keeping the company’s underlying value constant. This helps new investors take investment entries in the firm and encourages existing investors to hold their shares and invest more. Split stocks also help to boost the share’s liquidity. Another advantage of companies splitting shares is that sometimes it also leads to price hikes in the after-split share prices. When a share already has good prospects, and a share split occurs, many investors think that a share is now traded at a much lower and more affordable price. They assume that the firm’s growth will continue in the future. Therefore, the increase in demand for the company’s shares ultimately causes the share prices to rise. Consequences Of Split Shares Increased liquidity: When transactions for a stock become more manageable, it is said to have greater liquidity. Stock split leads to decreased stock prices, which eases the trading process for the investors. It also becomes easy for new investors to enter the company and for existing investors to hold on to their shares and even increase their holdings. Increased market capitalisation for the firm: In several cases, stock splits lead to an added market capitalisation, even if the shares split has no direct effect on stock prices. This is generally on account of increased demand due to the more attainable prices, attracting smaller new investors. As new and existing investors obtain more holding, it increases share prices, thus increasing the firm’s market capitalisation. Increased Volatility: Volatility in the stock market is the rate at which a firm’s stock prices fluctuate over a given period. Stock splits often lead to increased volatility in share prices. But why so? Investors take entry into the stock for a short-term gain because of this. Unlike long-term investors, they exit after taking a steady profit, causing the prices to fluctuate after the exit. Thus, a share split might lead to the entrance of the wrong pool of investors, causing increased volatility in the share prices. How Does A Stock Split Affect Your Investments? A stock split doesn’t change the net value of your investment in the firm. You might have more shares, but since the share prices drop accordingly, net investment remains constant. If you are not an investor looking to take a holding in the firm, the decreased affordability can be a chance for you. On the other hand, more investors like you will be strengthening their holding due to the lower prices; thus, the stock prices might go up. Similarly, for the short sellers, there are no direct added gains, and the share split doesn’t affect the overall value of your position. What Is A Reverse Stock Split? A reverse stock split is simply the opposite phenomenon of a stock split. It merges multiple less-valued stocks to get a more-valued store. Like split shares, there is no change in market capitalisation. At the same time, the current trading value and the face value of the firm increase. Companies use this tactic to often increase their brand’s prestige by increasing the share price. Split shares are traded at a lower value than the original share. [B-02] Final Thoughts A stock split doesn’t necessarily directly affect the firm’s share prices or the current investors. It does increase the number of outstanding shares and decrease the current trading prices, increasing the affordability for new investors. Still, it doesn’t change an investor’s overall holding in the firm. To read more such articles and explore different concepts of the stock split, visit Piramal Finance.
08-11-2023
Read More
Wedding

All You Need to Know about Planning Destination Weddings

Do you have a “wedding wish list”? The dreamy fairytale wedding with all the glitter and glint? It can all be possible with a few quick processes. Here comes the destination wedding loan. Wedding loans are so common; they’re meant to help with all sorts of money issues. They cover all the expenses. Catering, decor, hotels & stay, post-wedding expenses etc. [B-01] What is a wedding loan? To help people cover their wedding costs, several financial firms offer “marriage loans.” These are comparable to the rates on risky personal loans. Every consumer can receive a personal loan. Even those who cannot find a bank or NBFC that offers marriage loans. Personal loans are offered at interest rates between 10% and 20%. One can take out a destination wedding loan for up to Rs 40 lakh for a period of up to 5 years. But some firms provide personal loans with longer payback terms. They also give lower interest rates. Pre-approved, immediate loans are available. Some lenders disburse loans quickly. Customer-friendly features of a marriage loan include a range of convenient EMI repayment terms and a forgiving loan term length. You can apply for and receive your funds quickly and easily online. This allows you to keep your attention where it needs to be: on your upcoming nuptials. Points to be noted while taking a wedding loan The need to opt for a destination wedding loan may differ from person to person. Each lender may have its own set of requirements. However, here are some of the most common points: Age proof In most cases, applicants don’t have to present separate proof of age if their ID and address evidence already include their date of birth. If candidates’ ages are not included in the above documents, they may submit any of the alternatives listed below. Graduation documentation Proof of parentage document Pan card Lower age limit To be eligible for a marriage loan, a potential borrower must be at least 21 years old. One requirement of several loan companies is that the bride or groom be at least 23 years old. Upper age limit Marriage loan candidates who are salaried should be no older than 58, and those who are self-employed should be no older than 65. Lowest acceptable monthly net income Destination wedding loans typically have a minimum income criterion of Rs.15,000, while some lenders may set that at Rs.25,000. The minimum income may change based on the applicant’s present city, age, etc. Types of employment Anyone with a steady source of income, including those who are salaried, self-employed, or in the professional sector, can apply for a marriage loan. Salaried Employee Successful applicants for marriage loans will have established incomes. To qualify for a marriage loan, salaried individuals must have been employed for a total of at least 2 years, with the same employer. Self-Employed person You need to submit your most recent six months of primary bank statements as well as your last two years’ worth of tax returns, profit and loss statements, and balance sheets. Credit Rating Lenders favour borrowers with a CIBIL score of 700 or above. It is possible for borrowers with a poor CIBIL score to qualify for a marriage loan, albeit they may have to pay a higher interest rate. Borrowing capacity The maximum amount of money that can be borrowed for a wedding can change from one lender to other. It is also influenced by other elements like the couple’s ability to make payments, their income, their credit history, and so on. However, the amount you can borrow will be between 50,000 and 25,000,000. Valid identity documents When applying for the destination wedding loan, borrowers can provide any of the following forms of proof: Valid voter card Passport Pan card Aadhar card Driving licence Acceptable residence proof The following items may be used to verify your residence to secure a marriage loan: Driving license Valid travel documents Aadhar card Telephone, electric, and water bills Rent agreement Election identification document Perks of a marriage loan Immediately accepted It takes no time to get approval for a wedding loan. The verification of your documents may just take a few minutes. Then your loan application will be authorised. Modular payment plan Borrowers who take advantage of the flexible repayment option can select a tenor that suits their needs, typically falling within the range of 12-60 months. Large-scale credit Destination wedding loans are available from 50,000 up to 25.0 million, so you won’t have to skimp on any of the finer details. Conditional acceptance of an offer When you have so much on your plate with all the other aspects of preparing a wedding, why stress over finances any further? Pre-approved offers provide the best opportunity to save money on wedding loans. Online access Your loan repayment schedule and other loan details are available in the lenders’ online client portal. You can access it anytime, anywhere, 24 hours a day, seven days a week. Points to consider before taking a personal loan for a destination wedding Having a concrete strategy in place for your wedding will always help. The budget will help you manage your financial duties. How much EMI you can afford depends on your monthly salary. Check out the finest loan deals from many providers. Avoid getting into serious debt by carefully planning your wedding budget. [B-02] Conclusion The joy of a destination wedding is very unique. A wedding is a very special event. The costs associated with weddings may add up quickly! Without a doubt, you want this day to be memorable. Thus having a wedding loan to cover the cost helps. The days of a small, intimate wedding on a single day are long gone. In the modern wedding planning process, no detail is overlooked. But you should not worry about not having enough money to pay for a lavish wedding ceremony and reception. Apply for a personal loan online for a wedding today and have the funds deposited into your account tomorrow. Visit the Piramal Finance website to know more about the wedding loan.
08-11-2023
Read More
Home Loan

All You Need to Know about the Benefits of a Loan against Property in India

When it comes to borrowing money today, one has many options. From those, the best options are personal loans and loans against property. Both types of loans give much freedom with spending. The loan amount from both can be used in any way that the borrower chooses. But as compared with personal loans, loans against property have a few extra benefits. [B-01] What Is a Loan against Property? A loan against property is a loan in which money is given to the loanee in exchange for security. The lender, usually a bank or NBFC, will only give the loan if the loanee puts up a property as collateral. For the loan tenure, the lender holds the property title and original documents. The lender holds these until the debt is paid. If the borrower fails to repay the loan or misses many payments, the lender can auction off the property. Benefits of a Loan against Property in India As a secured loan, a loan against property has many benefits for both the loaner and the loanee: High Loan AmountThe best thing about a loan against property is that you can get a big loan amount. The amount of the loan depends on the collateral’s market value. For the loan tenure, lenders offer 70% to 80% of the market value as the loan amount to the borrower. This rate is bigger than the amount of other unsecured and secured loans. Many UsesThe money one gets from a loan against property can be used in many ways. The lender does not put any limits on the use. One can use the loan amount for Higher education or education abroad Marriage expenses Medical bills Repayment of debt with a high interest rate Investment in a business for its growth Remodelling or building a house Improvements to business infrastructure Fair Interest RatesA secured loan gives the lender something to fall back on if the loanee fails to repay the loan or pays late. This is why lenders charge lower interest rates on loans against property.The interest rates for loans secured against a property differ based on the lender. Usually, the rate begins at 8-10%. Such low rates reduce the burden of one’s EMI payments. Flexible Repayment TenureFlexible and easy repayment terms allow hassle-free and prompt payments of EMIs. unsecured loans have a tenure of 5-7 years. On the other hand, secured loans, such as a loan against property, could be repaid over 15 years. This gives the loanee time to check their finances and set aside their EMIs. Varying Property TypesOne can use many types of property as collateral for a loan against property. Lenders approve loans against commercial and residential properties. Lenders with the best interests often approve warehouse and industrial properties as well. The lender checks if the property is rented, self-occupied, or unoccupied. Also, the pledged property should be legally problem-free and possess a clean title. Properties that are co-owned can also be used as collateral. Yet, the policy for the type of property differs based on the lender. Fast ApprovalLoans against property have a faster application and approval process than unsecured loans. Unsecured loans lack security, and lenders need some form of assurance. So, they broadly assess the repayment capacity of the loanee during the screening. Loans against property can also be secured online. Online loan applications are time-saving and smooth, and same-day loan approvals are common in this process. Small Foreclosure FeesLoans against property have low-to-no foreclosure fees. Most NBFCs and banks charge 2-4% of the outstanding principal plus taxes on foreclosure, whereas some lenders do not charge any fee.One can close their property-secured loan early for a minimal or nil fee. One must prefer lenders who mention all types of charges in their documents and avoid hidden costs. Tax BenefitA loan against property can help save money on taxes. According to the Income Tax Act of 1961, under Section 24, a salaried worker can get a tax break on the payment of interest on a loan against property. Eligibility Criteria The eligibility criteria for a loan against property are less strict than those for an unsecured loan. The criteria may differ based on lenders, but here are some examples: The loanee has to be a citizen of India. The loanee has to be between 21 and 25 years old. The loanee should be salaried or self-employed. A business can also apply for a loan against property. The loanee should have a certain net income per month or year. (The lower limit of income differs for employees, firms, and self-employed people.) The loanee must have a long and steady history of work under an employer. Documents Required Another benefit of a loan against property is that the application process does not require much paperwork. Unlike the documents required for a home loan, a loan against property only requires basic paperwork. A loanee must supply Address proof (rent agreement, electricity or any utility bills, or passport) Identity proof (PAN card or Aadhar card/GST registration of the firm) Bank statement proof (operative bank account statement and salary slip) Proof of income (letter of employment, tax return, profit-and-loss statement, or balance sheet) Title/property documents [B-02] Conclusion A loan against property has many benefits. But one must keep some things in mind when applying for one, like checking the lender’s policy. Since one is supposed to be working long-term with the lender, they should find one they can rely on. Piramal Finance is a trusted financer for everyone. Check out their products and services and their blogs on many such topics.
08-11-2023
Read More