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Crytocurrency

Worried About Cryptocurrencies? Here’s Everything You Need To Know

The buzz around cryptocurrencies has been around for some time now. You might know about the great returns that people have made through crypto. Such news might have gotten you excited as well. But before you decide to foray into this world and check out cryptocurrency prices, it is vital to learn more about this form of currency. [B-01] What is cryptocurrency? Cryptocurrency, or “crypto,” is a digital currency used for the online sale and purchase of goods. It is based on the now well-known blockchain technology, which is secure to use. This currency is not used as a physical coin or note but is held in a digital wallet by the owner. As crypto uses blockchain technology, it is very difficult to counterfeit. It is beyond the control of governments or central banks. Hence, only the users of a specific crypto can use and maintain it. No single entity can own or control cryptocurrencies due to their decentralised nature. The first crypto was launched in 2009 and is still the most famous. Do you know its name? Yes, it is the famous Bitcoin, and now there are over 21,000 cryptocurrencies available. How to create cryptocurrencies? One of the best-known ways to create cryptos is through the mining process. Many cryptos, including Bitcoin, use this process. The mining process required a lot of power for the system to solve complex puzzles. This process is vital to verifying the validity of network transactions. You will get a newly created cryptocurrency as a reward for using the computer. Other cryptos employ varied ways to create and distribute tokens that do not need so much power. They also have a lower effect on the environment. If you cannot complete the mining process, the best way to go ahead is to buy cryptos online or exchange them with any other user. How to use cryptocurrencies? The main reason that cryptos were created was to sell and buy goods and services online. But not many platforms accept it as a valid currency. As a result, there are only a few applications for cryptocurrencies. While rapid progress is being made, you are still very far from being able to enter a shop and use crypto to pay for groceries. Though cryptos have great potential for the future, many people use them as investments. This is much like investing in mutual funds and hoping for profits. Likewise, people are investing in cryptocurrencies to make their money grow in the future. Every crypto unit is known as a coin or token based on how it will be used. Apart from being used for the purchase and sale of goods, cryptos are now also used for some financial products or games. But cryptos are very volatile, and there is a lot of risk in investing if you do not know all the details about the market. So, you must first know all about crypto and only then start to invest; otherwise, there is a chance that you can lose the money. What determines cryptocurrency prices? Cryptos are not issued by any central bank and have no backing from the government. As a result, factors that affect currency prices will not affect cryptocurrency prices. Inflation, monetary policy, and the economy do not impact cryptos. As they are a store of value, cryptocurrency prices are affected by the following: Demand and supply in the market. Government regulations. Latest news reports. Production costs for mining. The number of competitors. Risks of investing in cryptocurrencies There are many risks in investing in cryptos as compared to other options. The reason behind this risk is that there are so many unknowns. As cryptocurrencies have no physical presence, their offline usage is still impossible. Some of the risks that you can face when you decide to invest in cryptos are: No history: Cryptos have only been around for the last few years. As such, there is no way for you to decide its value in the long term. The demand and supply cycles can vary in the long run, so cryptocurrency prices will remain volatile. Lose money: Cryptos are not yet managed by central banks. Therefore, there are a lot of risks involved in its trade. You can lose your money to the creators if they make false claims. There is no way to reclaim your money because the government does not regulate the transaction. Lack of information: When you decide to invest in cryptos, you have to rely on data shared by the exchanges or the providers. They might hold back some data or not inform you about the risks you may face. Making any investment in non-verified information is not wise. Legality: There is still no clear answer about the legal status of cryptocurrencies in India. The government might ban crypto, and then you can lose your money. It is better to get an expert opinion before you invest in cryptos. Theft: There have been some instances where cryptos have been stolen from the owners’ wallets. So, you stand to lose your money if you are not careful when you handle cryptos. Having all your security systems in place is vital to saving yourself from such issues. [B-02] Summing up You must know all the details about cryptocurrencies before you invest in them. In India, crypto is still a new topic, and many events are taking place around it. It is, therefore, vital that you get complete details on various cryptos before deciding. You must visit Piramal Finance to acquire more details about cryptos. They have a blog section where you can get all crypto-related details. This will help you make wise choices when you are ready to invest in cryptos and want to avoid any risks.
08-11-2023
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Other

Best Investment Options for Salaried Persons in India

To have a solid financial foundation, you should invest money with care. Unfortunately, not every investment will indeed yield enormous profits. But there is a better chance of seeing decent returns if you invest and for a long enough period. A salaried individual must balance investment and spending within a limited income. Investing money regularly is one way to grow your money. There are many investment options. Salaried people should consider the amount, risk, and uncertainty before making investment plans. Consider the profit before deciding on investment plans. Here are a few of the top investment options for salaried individuals. [B-01] 6 Best Investment Options for Salaried Persons in India Salaried persons in India can choose from the following seven investment opportunities. However, you should not put all your eggs in one basket. Instead, spread them out over several investment options to mitigate/control your risk. 1. Employee Provident Fund (EPF) Salaried persons have the EPF as their primary investment option. Provident funds are retirement savings accounts. In this, the employer and employee contribute a fixed percentage of the monthly wage. Contributions up to INR 2.5 lakhs in your EPF may be eligible for a tax deduction if you are an employee. EPF is one of the important investment options for salaried persons. Many employers offer EPF options where the EPF amount is deducted from your salary before your salary is credited. 2. Stocks In 2022, investing in markets has become simple and commonplace. This is because many stock brokers provide low-charge trading options. You can open Demat accounts with stockbrokers within seconds. The account is then used to trade stocks. Many banks also function as securities through connected entities. For example, if you have an account with ICICI Bank, you can trade through ICICI securities. Direct equity investments are very high-risk, but they also offer exceptional profits. Informed stock investors can earn a CAGR of 10% or more. Investments in the stock market can be as little as Rs 10. Investing in stocks should only be done after carefully considering the company. 3. Real Estate Real estate can be a good investment option if you have a medium-to-high wage. Here are some benefits of investing in real estate: You get rental income. Investing in real estate can be a reliable source of income. You can get a steady passive income with a second property. The investment provides exceptional safety for your money. Income from rental properties can be used as additional investments. Rent depends on the location, size and condition of the property. Property values increase in developing areas. Property values, particularly in metropolitan locations, will increase as the locality grows. It’s commonly believed that the longer one holds on to an investment, the greater the return. Any property that appreciates over time is an excellent investment. You can also increase the rent on your property every year. However, get the property evaluated before investing. The real estate market always recovers. The real estate market has always recovered from crises and periods of uncertainty. After each financial crisis, such as the Great 2008 Recession, real estate prices rebounded. As a result, real estate can be a safer investment than other methods listed here. Investing in real estate means future generations can benefit as well. Real estate can be used to create a legacy for future generations. 4. Gold Gold has high liquidity, low risk, and long-term returns that exceed inflation. Hence, gold has become India’s popular conventional investment option. Gold offers a strong hedge against equities. Investing in gold can be done in two different ways. Physical gold (jewellery, coins/bars) Paper gold (exchange-traded funds, equity-based gold funds, etc.) Paper gold is as it sounds: you purchase gold only on paper. Since it is not actual metal, it has high liquidity. You have to go to a jeweller to get physical gold evaluated. The jeweller will give you a price. In contrast, paper gold is bought online. You can purchase paper gold through Securities. Paper gold can be sold any day, any time. It does not need an evaluation. Paper gold is more suited for short-term trading than for long-term investment. Examples of paper gold: ETFs Gold certificates Pool accounts Gold futures accounts You need not hold physical gold if you are worried it will be stolen. 5. Equity-Linked Savings Scheme (ELSS) Individuals and HUFs can deduct up to Rs.10 lakh from their taxable income for that assessment year. They can do this by investing in ELSS Mutual Funds. ELSS is an Equity Mutual Fund authorized by Section 80C of the Income Tax Act 1961. ELSS has a maturity period of three years, which begins on the day you make this investment. The returns are low compared to direct stock investing. The tax benefits more than make up for the negatives. 6. Mutual Funds (MFs) MFs are professional-managed products. They combine investors’ money and invest in various financial markets, including stock, debt, and hybrid markets. There are various MFs. You can choose based on your risk appetite, income, and investment goals. You have complete flexibility over your investments. You can make monthly recurring investments (SIPs), or you can make a lump sum investment. Many MFs have a minimum SIP limit of Rs 100. MFs are the best option for those who want to invest money for the long term but do not have the time to do trading. You can set up a monthly contribution to an MF. Then, you can reap long-term advantages without compromising your goals. MFs also have a risk factor. You can choose an MF depending on how much risk you are willing to take (from low to high risk). Returns in MFs vary depending on the scheme. Still, MFs have a CAGR of 11-14%. Go through the debt-equity ratio, returns, and expense ratio before selecting an MF. [B-02] Conclusion Today, there are many avenues to invest. You can invest in direct equities, MFs, ELSS and many others. Hence, consider your risk appetite, income and financial goal before choosing an investment option. However, consult an expert if you cannot determine how to invest. Did you love this guide on the best investment options for salaried persons? Visit Piramal Finance for more valuable content on investing and personal finance.
08-11-2023
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Business Loan

Here are The Things You Should Know About a Business Loan in India

Are you worried about starting your business? Want a business loan? Do you want to learn more about loans for businesses? This article will tell you some things about business loans in India that you should know. [B-01] Who can get a business loan? The first thing to do is see if you qualify for a small business loan. Those who fit the following criteria are eligible to apply for a business loan: Self-employed people (freelancers) Proprietors of sole proprietorship firms. Partnership firms and limited-liability partnership firms. Private and public companies. Here are some standard requirements for getting a loan that you should keep in mind for a smooth application process: You must be at least 21 years old and below 65 years when applying. Your business should have made money at least two years ago. You and your business must have been in service for at least two years, and you must have run a business for at least five years. How to ensure your loan is approved? The ability to repay a business loan is a prerequisite for receiving one. We’ll go over several strategies for accomplishing that now. Maintain a healthy credit score The owners’ or founders’ personal credit scores and payment histories from various institutions affect a firm’s loan eligibility. High credit scores indicate financial responsibility and on-time loan payments. It also shows your financial reliability. Credit scores above 700 can improve your loan worthiness, even if your lender requires a lower score. Demonstrate adequate cash flow in the business Your company’s cash flow analysis will influence the lender’s loan decision. They will also check your tax returns and debts to make sure you can pay your loan on time. Cash-flow loans don’t require collateral, so you’ll need a reliable income to impress your lender. Keep your documents ready for the loan application Since this is such a crucial procedure, extra attention must be paid to it. Make sure you have all the necessary paperwork available to expedite the loan application process, both for yourself and the lender. Documents required Identity proof PAN card Address proof Proof of business Business and personal bank statements (last six months) Business and personal tax return records Business’s financial statements Business’s legal documents such as commercial lease and franchise agreement. All you need to know about business loans in India Term Loans With a term loan, the lender gives you money upfront, and you have to repay it over an agreed period with interest. Small firms with an excellent credit history may qualify for a term loan. There are a number of scenarios in which a term loan would be useful: Investing in long-term assets such as machinery and equipment. Investing in commercial real estate or a brand-new manufacturing facility to hasten or expand output. Consolidating operations through the purchase of a separate firm. Funding the company’s day-to-day operations so that operating costs can be met. Business lines of credit Revolving credit is useful for many companies because it allows them to borrow a set amount and then use that money as they need it rather than getting all of the money at once. You and the lender may settle on a maximum amount. Withdraw as much or as little as you need to pay for immediate costs and debts up to this limit. A certain amount of money is made available to you, but you are under no obligation to take it all out at once, thanks to this feature’s built-in flexibility. As a result, you won’t have to worry about making payments on an enormous sum of money, and you’ll only have to pay interest on the actual amount you borrow. In addition, you can make repayments as necessary, taking into account the company’s cash flow and financial stability. You are free to make repayments in as many or as few instalments as you like. Equipment financing Business owners can benefit from equipment loans when buying machinery, equipment, or commercial vehicles. The fixed asset secures the small business loan. Thus, equipment financing leases the machinery, equipment, or vehicle to secure the loan. To repay the debt, the leased asset is sold. This may be ideal for those with large debts or a shaky financial history who need capital to buy an item. Invoice financing You may need to give customers 90 or 180 days to pay after shipping their goods if you’re a manufacturer. However, fast vendor payment may be necessary. You’ll still need financing for operations and expansion. Invoice finance secures a small business loan against client payments. Commercial real estate loans Investing in commercial property is a lot like investing in machinery. However, a business real estate small business loan is secured by mortgaging a commercial property such as a manufacturing plant, retail store, storage facility, etc. The commercial property serves as collateral for the loan. The financing-to-value ratio is the primary factor in any small business loan. The loan amount offered is a percentage of the commercial property’s fair market value. LTV is often between 75% and 80% of the property’s value. Micro loans Micro loans, as the name suggests, are small amounts of credit given as small business loans by banks, mostly without any collateral. You need to repay the loan in a very short duration. [B-02] Summing-up Piramal Finance provides you with tips that you should keep in mind while taking business loans and small business loans. You must submit specific documentation with your application, as requested by the lender. Your loan application won’t be handled if these supporting documents aren’t provided. You should get clarification regarding your business loan interest rate or small business loan interest rate so that you have a fair idea regarding how much to repay. Additionally, visit Piramal Finance for more in-depth, instructive articles about finances.
08-11-2023
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Personal Loan

Get a Personal Loan to Buy All Home Appliances

Are you planning to buy home appliances? But you are worried about money? Want a personal home appliances loan? Here you can get all the information about personal home appliances loans. Your answers to your inquiry will be found here. You need to keep these important things in mind before taking a loan. Here are some crucial factors that will increase the impact of your decisions. Let’s take a look. [B-01] Why apply for a home appliance loan? There are personal loans called “personal home appliance loans” and “consumer durable loans.” These can be used to pay for brand-new or updated appliances for the home. You can do this with a credit card, but doing so comes with its own set of problems. People tend to spend more than they should, and the problem gets worse as fees add up. Because of this, it’s important to get a personal loan for home appliances right away so you can figure out what you need and how much you can spend. Items you can buy with a personal home appliances loan ● Refrigerator or freezer ● Battery and inverter ● Washing machine ● Audio/video player ● Vacuum cleaner ● Water purifiers ● Chimney ● Video camera ● Dishwasher ● Microwave oven ● CCTV ● Coolers and air conditioners ● LED TV, plasma TV, home theatre, etc. Benefits of a personal home appliance loan ● The personal credit line can be used for purchases made anywhere, including online. ● You can take advantage of sales and promotions that only last a short time if you get the money right away. ● You can always access your credit line online. So you can shop whenever it’s most convenient for you. ● With a credit line, you can buy more expensive things that would be out of your price range otherwise. ● A credit line is useful because you only have to pay interest on the money you borrow. You can use the remaining balance as a safety net in case you ever need cash in an emergency and can’t get to your regular bank account. ● A consumer durable loan gives you anywhere from two months to three years to pay back the money you borrow. Features of a personal home appliance loan ● Flexible EMIs With this type of financing, you can borrow any amount you need and pay it back in convenient EMIs. Lenders typically provide forgiving repayment schedules on such loans. With forgiving terms, you won’t have to choose between paying off your credit card debt and paying back your consumer durable loan. ● Instant loan approval Once your home appliances loan is authorised, you can expect to get the funds quickly. You don’t need to put up any collateral to get a loan to buy a home appliance. The time it takes to distribute loans will increase no matter what. ● Minimal documentation Most people associate instant cash loans with having to provide no documentation at all. If you want to buy a new fridge, for instance, you can get a personal home appliances loan immediately by showing only your PAN card. ● Low-interest rate Just the amount you borrow will accrue interest. Monthly interest rates of 1.08% are significantly lower than those charged by conventional financial institutions. ● Minimum eligibility The requirements for eligibility have been lowered to their absolute minimum. An online personal home appliances loan application can be submitted by anyone between the ages of 23 and 55. In addition, the person must be able to demonstrate a monthly income of at least ₹20,000. Top things to consider before applying for a personal home appliance loan ● A personal home appliance loan is an unsecured loan. So the lender will look at your credit score and monthly income to determine if you will be able to repay the loan. Get your credit score where it needs to be if you want easy approval. ● Rate of interest: The rate of interest on loans for personal home appliances differs from one lender to the next. When taking out a loan to purchase a household appliance, you should shop around for the most favourable interest rate. ● There is no cost to the borrower for the EMI. This service is now standard with the vast majority of lenders. Check with your lender to see whether you may use this service as a credit against your purchase. ● Processing fees, late payment fees, and prepayment penalties are just some of the extra costs you may incur. Before applying for the loan, make sure to read all of the paperwork thoroughly for a consumer durable loan. Eligibility criteria for getting personal home appliances on EMI ● Personal home loan appliance: applicants must be at least 21 years old. ● Consumer durable loan: workers in traditional 9-to-5 jobs have until they turn 60 to apply, while those in self-employed fields have until they turn 65. ● Loan amounts between Rs. 10,000 and Rs. 5,000,000 are permitted. ● Loan terms might be anywhere from 6 to 24 months. List of documents required to get personal home appliances on EMI ● Proof of identity ● Proof of residence ● A cancelled cheque ● Latest passport-sized photograph ● A signed ECS mandate ● A non-dated cheque for the full amount of the loan drawn in favour of TCFSL for security purposes Favourable aspects of a private loan for home appliances A web-based application form A minimal and speedy paperwork procedure Repay in up to 36 monthly instalments. No collateral or other security is needed. There are no additional fees. Minimum Handling Charges Getting the necessary kitchen and laundry room gadgets is as easy as a trip to the store. [B-02] Summing-up The purpose of this article is to present a comprehensive study of significant data regarding personal loans for home appliances and consumer durable loans. This is just financial advice. It provides unbiased information and evaluations on trading, investing, and finance. Users ought to always carry out their research. Also visit Piramal Finance for more in-depth, educational articles.
08-11-2023
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Business Loan

Business Loan Interest Rate in 2022: Everything You Need To Know

A business loan is an excellent option if you are looking for funding for your startup. It can help finance all your business activities. Whether it’s better infrastructure or paying your employees’’ salaries, your business loan can be a saviour. But what about the business loan interest rate in India? Is it too high? Well, the average interest rate for business loans is around 13-20% per annum. Read on to learn about startup business loans and their interest rates. [B-01] Interest Rates and Other Details About Startup Business Loans Interest Rate 17 to 20% per annum Service Charges 4% of the loan amount plus taxesMinimum Loan amount 3 lakhs Maximum Loan amount 10 lakhs or more Tenure 3 years to 15 years, depending on the lender Eligibility to Apply for Business Loan You should be between 23 to 65 years of age. You can be a salaried or self-employed person. Both professionals like lawyers and doctors and non-professionals like entrepreneurs can apply for business loans. You should have a strong business plan. You must have a registered property under your name. It can be your house or a shop from where you are running your business. Documents Needed to Apply for Business Loan You must have a PAN card to get a startup business loan. Here are the documents that you will need. Proof of Identity (Voter ID card, Aadhar card, Driving license, or passport) Bank statement for the past six months Your latest Income Tax Returns Proof of residence (Utility bills or ID cards) Details of your co-applicant, if any Factors Affecting Business Loan Interest Rates How long has your business been in existence? The years your business has been in operation affect your loan interest rate. The longer it has existed, the higher your chances of getting a low-interest loan. Monthly Turnover of your business The monthly turnover of your business also impacts your business loan interest rate. That’s because it shows your ability to repay the loan. So, having a high turnover and making consistent profits can help you get a lower interest rate on your business loan. Credit Score Your credit score shows the creditworthiness of your business. The score depends on your past credit history. If you have a decent credit score, you can easily get a lower interest rate for your business loan. Pro tip – Pay all your dues and EMIs on time to maintain a good credit score. Collateral It is the security that you pledge to your lender in return for the loan. Giving collateral helps you get a higher loan amount and lower interest rate. The higher the value of your collateral, the lower your interest rate will be. Note – Don’t worry. Some lenders let you apply for a business loan even without collateral. Tips to Get A Business Loan at Low-Interest Rates Here are some practical tips to get startup business loans at lower interest rates. Maintain a decent credit score of 750 or above. Pay all your EMIs and credit card bills on time. Offer high-value collateral if possible. Apply at one of the top banks or NBFCs. Advantages of Business Loans Flexibility of usage Imagine a renowned investor agreeing to invest in your business. They will take care of all your business expenses. However, it’s natural that they’ll also interfere with your business decisions. But you won’t face that problem if you take a business loan. That’s because your lender won’t check where you are using the loan amount. You can use it to meet your business expenses according to your wishes. Affordable interest rates Business loan interest rates in India are quite affordable. That’s because of the competition among different lenders to grab the attention of the borrowers. Easy and convenient It’s super convenient to get a business loan. Other options for fundraising, like crowdfunding or borrowing from friends and relatives, aren’t reliable. Moreover, that might take a lot of time. But getting a business loan from a lending institution takes minutes. No collateral required A loan against property or gold loan will require you to offer collateral or security to your lender. If you fail to repay the loan, your lender might seize the collateral. However, you can get a business loan even without collateral. Tax benefits Who doesn’t love to save taxes? The interest you pay for business loans is tax-deductible. That means you can also save more. Improved credit score Taking a business loan can help you improve your business credit score. That will make you eligible for higher credit in the future. When you repay your loan on time, it improves your credit score. That boosts your creditworthiness in the market. Boost your business with a startup business loan Apply for a business loan now if you plan to grow your business. Piramal Finance offers competitive interest rates. Moreover, there is minimum paperwork, and you don’t need any collateral. [B-02] FAQS How to get the lowest interest rate business loan? Compare the rates offered by different financial institutes. That will help you get the lowest interest rate on your business loan. You can also watch for offers during festivals when some lenders lower their interest rates. Do I need collateral to apply for business loans? Some lenders might ask for collateral while applying for business loans. However, Piramal Finance doesn’t require any collateral; for granting business loans. How to repay my business loan? You can repay your business loan by any method of your choice. You may give post-dated cheques or opt for electronic transfer. Is the business loan interest rate fixed or floating? It depends on the lender you are borrowing from. Some lenders let you choose if you want a fixed or floating interest rate. Are there any pre-closure charges for business loans? Yes, the preclosure charges of your business loan can range from 0 to 5% of your loan amount.
08-11-2023
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Personal Loan

Get Instant Funds With 24×7 Personal Loans

How do I get an instant loan? Can I get an instant loan without documents? How to calculate EMI for a personal loan? Why should I use Free charge for instant personal loans? This blog will answer all your questions! On Freecharge, you can apply for a personal loan at this moment. Using the Freecharge EMI mini-computer, you may arrange the EMI for various credits, such as personal loans, auto loans, home loans, and others. The advances that are most easily supported are usually payday advances, car short-term credits, pawn shop credits, and particular portion advances. These are all crisis-momentary money answers for account holders with unfortunate credit. Use Freecharge to present a web-based individual credit application and quickly get financing. Due to our quick and simple advance endorsement process, your goals will be met even more quickly. If you are considering applying for a personal loan from a bank online, you are in an excellent position. [B-01] How would I involve Freecharge to apply for personal loan advances? On Freecharge, applying for a personal loan advance is simple and computerised. The means are as per the following: Moment KYC and OTP self-confirmation Set your credit sum and term in the individual advance proposition Set up your regularly scheduled payment for reimbursement Consent to the advance arrangement electronically Receive an advance payment—add assets to your ledger Freecharge provides Moment Advances and Credit Lines to meet your needs Pre-qualified individual advances make up most of our quick credits. A pre-qualified credit is what, then, at that point? As previously stated, a pre-qualified credit offer provides clients with the greatest simplicity while requiring the least amount of desk work. Pre-qualified personal loans likewise enjoy the benefits of top-tier loan costs and fast application handling. Even though HubBank provides all credit, you don’t need to have a record with them to apply for one. 1. Personal credit On Freecharge, you can apply for some sort of personal loan. On Freecharge, you can apply for a personal loan in a split second and get the assets in your ledger. You can apply for a personal loan on the web and have it dealt with quickly because the process is completely computerised. You can get aggregates ranging from hundreds to lakhs with fast, pre-qualified individual credits in no time. 2. Charge card with Freecharge We offer both a physical and virtual charge card that you can quickly get, very much like our internet-based prompt credits. One of the most outstanding Mastercard options accessible is this one. In addition to Mastercard, you can get INR 6,000 in cashback each year. Also, you get gift vouchers and numerous different benefits, for example, 5% cashback on recharges and bill instalments. Furthermore, various purchases earn you 2% cashback. 3. Use Freecharge Later Your month-to-month financial plan gets a lift from our new item. You can get a credit line of up to INR 5,000 with Freecharge Pay Later every month. You are allowed to use it whenever you want to. With only a single tick on the Freecharge application, you can recharge your telephone or cover your service bills, as well as shop at partner stores like Swiggy, BigBasket, and Myntra. You will receive a single bill once all instalments have been completed, allowing you to keep track of all of your expenses in one place. Isn’t that great? Best of all, you essentially have to reimburse the sum you utilised. How might you at any point manage cash from individual credits? You can get an instant personal loan from your bank or NBFC very quickly. They are unstable advances. Unstable alludes to the fact that there is no requirement for a guaranteed resource to secure them. Furthermore, personal loans require little administrative work and have lower loan costs. Personal loans, rather than different sorts of advances, can be used for any one-time crisis or specific need. Personal loans can be used for various things, like short trips, urgent home repairs, shopping, purchasing machinery, meeting obligations, and more. What’s more, you can get money from individual credits for various necessities. Advantages of involving Freecharge for Individual Advances and Credit Items 1. Practically no documentation There should be fewer papers provided for individual advances on Freecharge because many of them are pre-qualified credits. You just have to give your Skillet, Aadhaar number, and fundamental KYC data for most of our products. 2. No security is required No guarantee or security is expected for any of the quick private advances or credit items presented on Freecharge to disburse the advance. Thus, Freecharge clients can approach these products rapidly. 3. Don’t bother visiting a bank You might apply for a speedy individual advance or another credit item from any place because of our completely computerised approach. Without expecting to enter a bank office, you may rapidly apply for credit from the comfort and security of your own home. That is the zenith of solace, not too far off! 4. Fast and Basic Disbursal On Freecharge, all quick private credits are moved directly into the candidate’s financial balance. You will have quick access to assets in your Compensation Later record after enabling Freecharge Pay Later, permitting you to make the ideal single-tick instalments. 5. Advancements and Prizes When customers use our foundation to get credit and advance products, we give them a Freecharge, which gives them a few limited-time deals and benefits. A few Freecharge customers can purchase credit and advance products. You should confirm your eligibility before submitting a credit request or application. Additionally, customers can effectively and free of charge make credit EMI payments online in just a few simple steps. [B-02] Conclusion When you require instant or urgent finances, personal loans are the best option. With Bank’s 24×7 Personal Loans, you may benefit from a fully digital approach that allows for collateral-free, quick, and seamless loan sanctioning. You can apply for 24-hour personal loans for sums ranging from Rs. 50,000 to Rs. 10,00,000 based on your needs and offer. 24×7 personal loans fulfil all your short-term financial needs, whether they be for home improvements for the holiday season, arranging your ideal wedding, travelling, or more. Also visit Piramal Finance for more in-depth education-related articles.
08-11-2023
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Business Loan

Expand your business with the best business loan this Diwali by applying at Piramal Finance

Cash flow stability is essential for any business loan looking to meet operational costs and grow. It’s smart to count on regular revenue to keep operations afloat, but it takes a large investment to increase workforce size, upgrade equipment, or create a new facility. Here’s where getting a loan against property might help you out. It could provide the financial breathing room you need to make your company’s dreams a reality. The greatest time to do it is around Diwali, of course. No other approach is preferable. [B-01] What Is a Loan Against Property? Real estate may be used as collateral for a loan in a transaction known as a “loan against property” (LAP). Now, out of all the possible forms of financial help, why is a loan secured by property a viable option? More money may be put away in savings when interest rates are higher. Since loans secured by property have a reduced risk for financial institutions, the interest rates offered on these loans are often lower than those offered on unsecured loans. The impact on your EMIs and your ability to save is large. Appropriating a Large Loan Amount for Large Expenditures You’ll have to invest in new machinery and personnel training to grow your company. Since you are putting up a permanent asset as collateral for the LAP, financial institutions will be more willing to lend you a larger sum. Loans from Piramal Housing may cover up to 65% of the home’s worth. Take out a loan like this, and you won’t have any money problems. Making the right decisions should be pretty easy. Focus on growth and be amenable to change in commercial dealings. A LAP’s repayment period is far longer than a standard loan. The longest repayment period for a Piramal Finance LAP is 20 years. A longer repayment period results in fewer monthly payments. This can let you create a new setup and keep it running well without worrying about large monthly expenses or earning a profit immediately. The Application Process and Sanction are Straightforward to Get You Started Getting the capital you need to fund your business’s development may be accomplished via a loan secured by real estate. Little red tape is involved in the application process, and funding is provided when all the documentation is finalized. This can be a great option if you need to get your business up and running and have many holiday-related tasks. Required Paperwork To apply for a loan against property, you will need to show evidence of the following: Your identity and age (such as a driver’s license or passport) and proof of where you live (Passport, driving license, telephone bill, etc.) Also, the profile needs a certificate attesting to the firm’s legal existence. Personal and company tax returns for the last three years. Please pay the processing fee to “Piramal Finance.” Property title papers, authorized building plans, etc., photocopies, Business loan benefits during the Diwali season During the Christmas season, a business loan might be a wonderful gift for the boss of a medium-sized firm. For illustration, consider the following: A business loan will help you make the most money possible during Diwali. A financial cushion is created, allowing the company to expand without a hitch. It allows small and medium business owners to expand their operations. They can purchase new machinery and equipment for the holiday shopping season. Unsecured business loans are those that need no collateral. Thanks to these alternatives, you won’t have to worry about losing an expensive possession to get a loan. These loans help meet short-term business loan goals throughout Christmas because of their quick approval and versatile repayment options. With an MSME business loan, you may get the money you need with a few simple steps. So, even when demand is high and days are chaotic, business owners may apply for a business loan at Piramal Finance and get the money immediately. Solving the problem of low festival sales Applying for a standard business loan is the most sensible way to fund company development. Here are some tips for increasing your company’s performance with a small or medium-sized loan during the Diwali season. Architecture and Strategy: Those planning to grow their businesses around Diwali should know the season’s duration and dates. Because of this, they can organize their efforts and be ready. Provide Sales Promotions and Discounts: Holiday sales and discounts are the biggest attractions for shoppers throughout Diwali. Thus, offering sales and discounts during the holidays attracts more customers. Pay attention to advertising: A marketing campaign around Diwali may raise brand awareness and bring in new clients. Get your campaign running before the Christmas shopping season starts with a dedicated marketing budget. Please find your ideal customers and advertise to them online to see a big rise in sales. Use unsecured business loans to underwrite the promotion and bring in record revenue. Improve Your Presentation: Nowadays, customers form first impressions of businesses based on how well they are presented. Remember that your presentation reflects the company’s values and culture. There is a correlation between a company’s visual attractiveness and the number of clients it attracts. Thus, decorating the business is recommended throughout winter to make customers feel more at ease. Considerations for a Business Loan Application around Diwali This Diwali, company owners who want to qualify for a loan should consider the following. Think about your situation and why you feel a loan is necessary. It might change based on the company’s long-term vision and strategy. The budget and loan amount is set and determined in light of the company’s long-term goals. The MSME business loan‘s efficiency and repayment ability are crucial factors in whether a loan is granted. Rapid approval is possible if the company’s owner keeps their credit and CMR scores high. Most business loan owners make the mistake of applying for a business loan before having all the necessary documents. When loan applications are turned down because of inadequate documentation, time is wasted, and credit is ruined. Borrowers should check our data requirements and then apply. [B-02] Conclusion LAPs provide more money for a longer period at a cheaper interest rate since they are backed by collateral. This makes them the most effective method of funding business expansion. Piramal Finance’s pliable LAP eligibility restrictions, straightforward application process, and quick funding disbursement will keep your expansion on track. So, light the candle to future success when applying for a business loan against property this Diwali. Get in touch with Piramal Finance for more information.
08-11-2023
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Expert Tips on Organising Your Business

Organisational skills are crucial to the growth of any small business. Lack of organisation may double the difficulty and halve the success of any task. When it comes to business strategy, making big changes is much less hassle. When you see the value of the structure and organising business, you can begin to develop processes and procedures for your whole business. [B-01] Start by cleaning up your computer’s desktop. Get rid of all the extra stuff. Clutter causes unnecessary wait times. This will clear your mind and will help you. Remove any extra files from your computer’s desktop and save them on an external hard drive. This will remove the over heads in your computer and your brain. Verify that your anti-virus software is up-to-date. You should expect the highest levels of safety for your efforts. Software should be kept up-to-date regularly. Data management is greatly improved by taking advantage of these free updates. Keep a copy of your data offsite once every fifteen days. If your computer crashes, you won’t lose any of your data since you have a backup. Get your inbox in order. If your inbox is too full, you risk losing important messages. Make better use of your contacts It’s a constant uphill battle that might cost you sales if you lose track of your customers, leads, payments, and other vital data. Successful small business strategies may benefit greatly from client relationship management (CRM) software like Keep. It connects to other business tools and facilitates follow-up where it is most useful, such as overdue invoices, quotes, customer questions, and more. There will be no more misplacing important emails since the application will do it for you. Use resources available in the cloud Have you had a computer crash and lost important data? Have you ever needed to use a document, presentation, or spreadsheet on the go or in the middle of a meeting? Have you ever wished that everything you have on your computer and phone is identical? When you save information on the cloud, it becomes available from any device, anywhere in the world. You may use free cloud storage services like Dropbox and Google Drive, which are also compatible with Macs, iPads, and other mobile devices, to join the 82% of businesses with a cloud business strategy. This means you can get the information you want whenever and wherever you choose. Get your financial affairs in order Keep business and personal funds separate. Your professional responsibilities need not intrude onto your private life, and vice versa. This will help in organising business. Before your money gets out of hand, you should consult an accountant and a tax counsellor. Maintaining an accurate accounting of your invoices and customer payments is important. It may be essential to purchase specialised software for this task. In the same vein, be mindful of your expenditures. Your financial security may be at risk if you fail to maintain tabs on this. Create a detailed budget and simple research options for company financing. Fantastic benefits are available with certain small business loans, such as quick online approval, a negotiable term, and a low-interest rate. Consider applying for a Flexi loan if you anticipate having sudden financial needs. Because of its unique qualities, you will always be in charge of your finances. Utilise the right programs and equipment to maximise output Use a web-based accounting service like Quickbooks or Xero to manage your invoicing needs. Social media management platforms like Hootsuite let you keep tabs on any mentions of your brand or a competitor’s to promote your business efficiently and effectively. Partners and distributors may benefit from customer relationship management tools like InfusionSoft and SalesForce. Tools like Asana and Basecamp may be useful for keeping track of meetings and assignments. Create a list of what has to be done tomorrow The language of corporations is the creation of to-do lists. However, the problem is that only a few people accomplish anything on their lists. If you don’t use your to-do lists to track what has to be done at work, they are useless. Here are some suggestions for staying on track with your to-do list: Make a list of everything on your to-do list for organising business (the items on the list don’t have to be in any particular order; jot them down as they come to mind). Classify tasks into those that may be completed simultaneously or in the same amount of time and those that must be completed separately. Adjust the order of your items based on their importance. Too frequently, people place a higher value on doing more work in a shorter time than they do on doing better work. That is the farthest thing from the truth. Timeliness, productivity, and open lines of communication should be all factors when setting priorities. Upgrade your record-keeping and storing methods Consider becoming paperless by putting everything on the cloud or making a copy of everything on a hard drive. Platforms like FreshBooks and DocuSign make signing important documents easy and convenient. If you want to save all those business cards in one place for reference, use the organising business card scanner. The cloud storage services Dropbox and Google Drive are ideal for this. This way, you may maintain order among your documents and avoid chaos. Bring in some more help You can hire an assistant even if your firm is small or medium. Whether calling for a payment reminder, renewing telephone or internet services, transforming your notes into a PowerPoint presentation, or planning a meeting, you may use an assistant to free up your time for more important activities. Consider using online platforms like Upwork and Zirtual to hire virtual assistants. This is one of the most effective business strategies to bring you success. [B-02] Conclusion Instead of forcing yourself to adopt a whole new workflow or set of organising business techniques, you should check out many products and then attempt to combine them with your present habits. There is no silver bullet for streamlining operations in a small business, but there are plenty of methods for maximising productivity and streamlining processes. To learn more about organising business and implementing strategies, you can consult with an expert at Piramal Finance.
08-11-2023
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Everything You Need to Know About MahaRERA Act

We are experiencing a real estate boom in every part of the country. The Real Estate (Regulation and Development) Act came into effect in 2016. The main vision is to provide security and fairness to buyers. It applies to both residential and commercial properties. If you are considering the purchase of a property in Mumbai, it is important to be aware of the MahaRERA Act. It came into effect in May 2017 and sets out rules and guidelines for the real estate sector. The sole aim of the MahaRERA Act is to make Maharashtra the best place to invest in real estate. Its vision is to establish a robust, transparent, honest, and reliable regulatory environment. In this article, we can see the MahaRERA Act in detail. [B-01] What exactly is the MahaRERA Act? The Maharashtra Real Estate Regulatory Authority (MahaRERA) Act was put into effect on May 1, 2017. The Act establishes a regulatory authority to protect the interests of home buyers. It also establishes a mechanism for resolving disputes between buyers and developers. It advocates for real estate investment and supports customer rights. This act eliminates the possibility of fraudulent real estate transactions. Rules and Regulations Every residential and commercial project must register with the MahaRERA Act to proceed. It requires real estate developers to post quarterly reports on their active projects. Services provided by MahaRERA MahaRERA advances the interests of real estate promoters. It establishes a single point of contact for RERA clearances and approval checks. Objectives of the MahaRERA Act All parties involved in real estate must register under the MahaRERA Act. There must be transparency in the sale of flats, plots, and buildings. The main aim is to protect all parties involved in the transactions. That includes buyers, sellers, brokers, and promoters. Promote the importance of resolving disputes. Create a platform for dispute resolution that customers can appeal to. Offer suggestions to relevant government officials on real estate growth and promotion issues. The total number of registrations Under the MahaRERA Act, there are 39,722 registered agents and 39,107 registered projects. Additionally, they have received 19,459 complaints to date. They have resolved 67% of them, which is an impressive effort. Benefits of the MahaRERA Act for Buyers The benefits of the MahaRERA Act, 2017, are as follows: 1. Complete transparency The promoter must create a web page on MahaRERA‘s website after registering. The website must contain all the details about the promoters and their projects. With the aid of this technology, buyers may keep up with the status of the project. 2. Registration of real estate agents Real estate agencies must register online with MahaRERA. This is to simplify the sale or buying of plots, buildings, or apartments. It ensures the accountability of real estate brokers and their registration. 3. Law and order With the MahaRERA Act, they are no longer able to divert investor cash to other projects. A 10% down payment is the standard. Failure to follow the requirements will result in a fine and three years in prison. 4. Assurance of compensation to buyers The buyers get compensated if there is any delay in a project. Buyers have two choices if a promoter fails to provide the specified terms: Get a full refund of the amount they paid the promoter by cancelling the reservation for the project. Until they give possession, the promoter must pay the buyer interest for the delay once a month. 5. Accountability of funds It is a requirement that the developers deposit 70% of the funds received for a given project into a single account. They can only cover building or land costs with these funds. They must update the authorities in MahaRERA on the project’s development. 6. Bring up the carpeting area. A space enclosed by an apartment’s or building’s interior walls is a “carpet area.” Earlier, the promoters used frequent influence, which is what determines a property’s price. As a result of the MahaRERA Act, promoters are now obligated to disclose the actual carpet area. This helps in the fair pricing of a property. 7. In case of a defect in the property Within 5 years, any construction quality issues must be notified to the buyers. It is the promoter’s responsibility to fix these problems at no extra cost. The buyer has to get equal compensation if the promoter fails to address these problems. How to register under the MahaRERA Enter “maharera.mahaonline.gov.in.” and open the MahaRERA website. First, click the “Login” button. Then you have to select the new registration option from the menu. Select the user type. It opens in a new window. The user-type choices are real estate agencies, promoters, and complainants. Write all the needed information in the respective fields. Verify your email address to gain access to your account. Finally, upload the required paperwork. How do I search for projects in MahaRERA? Click maharera.mahaonline.gov.in and enter your login details. Then select the registered projects. It comes under the Registration tab dropdown. It will take you to a new tab. Enter the details in the search bar to see the project details you are looking for. Once selected, you can see all the information related to the project. How to search for expired projects in MahaRERA Follow these steps to learn about the expired projects in Mumbai. Enter the MahaRERA website at maharera.mahaonline.gov.in. On the “Registration” page, select the link related to “Lapsed Projects.” You can see the details of expired projects in chronological order. [B-02] Conclusion The MahaRERA Act website is the most friendly RERA website. With a single click, buyers can get information about everything. They also offer details on ongoing and recent projects so that the buyers can decide well. Piramal Finance offers various housing loans with affordable EMIs and interest rates. You can also talk to their experts in real estate to know more about their MahaRERA projects.
08-11-2023
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