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Mutual Funds

How Can You Make the Best Use of SIP Calculators

SIP or Systematic Investment Plans are relatively new. But they are one of the leading tools of investment. A proper SIP Calculator helps you manage your assets. You can also efficiently and effectively modify, update, and reshuffle your investments. Previously, salaried employees didn’t have many investment opportunities. There were only FDs, and some occasionally released bonds and PPFs. The investment opportunities in the share market were also out of reach of ordinary people. SIP was launched in the Indian financial market in 2002. This opened up infinite investment opportunities virtually. SIP is operated digitally via websites and mobile applications. So you can put money into investment plans at your terms and financial capacities. [B-01] What is an SIP? SIP or Systematic Investment Plan is a fantastic way to invest in mutual funds. You can invest either monthly or yearly or lump sum. This depends on how much money you can invest in a fund for a specific duration. Through SIPs, you can invest a fixed amount of money. This is for a specified period under ever-changing interest rates. Remember, the interest rates of the SIPs change. So you should keep track of your investments. What is an SIP calculator? A Systematic Investment Plan calculator is a free and simple online tool. It calculates the returns you may receive on your investments in a mutual fund. It gives you a detailed break-up of your investment. It also gives you details about the total returns you can get for your chosen duration. Using an SIP calculator, you can quickly and accurately estimate how much money you have to invest monthly or yearly to reach your financial goals. The tool can be very helpful for planning your long-term or short-term goals. In India, what are the different types of SIPs you can invest in? You should also know about the various SIPs available in the Indian market. There are four types of SIPs in the market: Flexible SIP: This lets you change the investment amount you initially decided to invest. Step-Up SIP: This is also known as a top-up SIP. It will let you increase your SIP investment amounts at regular or pre-defined intervals. It is suitable for tackling inflation and low-interest rate. Perpetual SIP: This is a type of mutual fund SIP investment. It is supposed to run indefinitely. That means your SIP investment has no fixed period or closing date. You can keep investing till you think it’s time to reap the profits of your SIP investment. Trigger SIP: This is a special type of investment. It takes place under pre-defined circumstances or triggers. For example, you can set an action or ‘trigger’ for your SIP. If the NAV value of the SIP drops to certain levels, say 10%, your investment agency or tool will increase your investment amount by 25%. Here, NAV stands for Net Asset Value or the price of a ‘share’ of a mutual fund in which you invest through your SIP plan. How does an SIP calculator work? The calculations of SIPs can be very tricky. But a general SIP calculator works according to the following mathematical formulation: FV = P [ (1+i)^n-1 ] * (1+i)/i Where the variables denote the following items: FV= Future or Final value, or the amount you can receive on maturity or end of the investment period of a mutual fund scheme. P= Investment amount in the SIP. i = Compounded rate of investment return per annum. n = duration of the investment (generally for months or years). r = Estimated or Expected rate of return. But you don’t have to do these complex calculations. Several SIP calculators are available online. They will do this for you. Most of them are free. How you Can Make The Finest Use Of an SIP calculator: The SIP calculators commonly require three pieces of information. These are the SIP amount, duration, and expected or preferable rate of return on the SIP per annum. Investors should know these 3 factors before using any mutual fund SIP calculator. The SIP amount is an indicator. It determines your risk-taking capabilities with money. The SIP calculators can easily give you a detailed analysis of your investments. The duration and target of any SIP are also essential. It determines the type of your financial expectations and goals. Then SIP calculators can suggest you invest in a specific rate, the bulk of money and the duration of time. You will clearly understand the return on investments to fulfil your goals. The SIP calculators are often utilised to determine whether you want to be an aggressive or balanced investor. This is done by choosing the expected return rates for the investments. Some advanced calculators will suggest how much investment you should increase. This will help you to meet your goal with several adjustments. The equations for mutual fund SIP calculators come with many variables. Some of them could be inflation and worsening market conditions. These could also be the changes in interest rates at regular intervals. Other advantages: The available SIP calculators online are free tools. Anyone can use it to plan and closely monitor his finances. SIP calculators can be efficiently used to track all your financial goals and expectations closely. It helps you estimate how much money you need to save or invest. This helps in determining the wealth you want to build. You do not have to provide any extra information, such as PAN or Bank details, apart from the three major inputs, amount, duration, ROI or the rate of return. You can also use the SIP calculators with other freely available online calculators. This way, you may find the best investment opportunities. For example, you can use an FD or RD calculator. Then you can compare it with your SIP investments. This way, it will be easy to understand how your investments will contribute to your wealth creation together or individually. [B-02] Conclusion: Investment SIP calculators were designed to make it easy for investors to understand their investment plans through SIPs. However, the actual returns offered by a mutual fund scheme often vary. This depends on various factors. Most SIP calculators do not clarify the exit load and expense ratio if applicable for a specific mutual fund. It looks very simple. But a new investor can face problems while investing in the SIP for the first time. So, if you want to learn a few more things about this, then visit the Piramal Finances website.
08-11-2023
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Personal Loan

Personal Loan in Junagadh: Apply Online & Get Instant Approval

Are you looking for personal loans in Junagadh? Do you know personal loans can be hustle free? Then you have come to the right place. We offer a wide range of Personal Loan in Junagadh that suits your requirements at a very reasonable interest rate. [B-01] Where can I get a fast, no-collateral loan application? Most individuals utilize online forms that can be filled out quickly while seeking an Instant Personal Loan in Junagadh. Observe the following rules and regulations: You should immediately employ one-time passwords and Know Your Customer (KYC) checks for step one of authentication. Apply for a personal loan. You choose the amount and conditions of your loan. Make a strategy to repay the money in monthly instalments. To sign the loan agreement, use a digital signature rather than a physical one. Borrowed funds should be deposited into your checking account. You may get loans and credit lines immediately to satisfy your demands. The majority of our rapid loans are pre-approved Personal Loans in Junagadh. What does “pre-approval” for a loan mean? A pre-qualified loan involves minimum documentation and makes things as simple for the applicant as feasible. Filling out a pre-qualified personal loan application takes no time, and the interest rates are the finest in the industry. Personal Loans There are several types of Personal Loans accessible in Junagadh. You may apply for a personal loan in Junagadh and get funds as soon as the next working day. The whole application for the personal loan procedure is done online, so you may complete it from anywhere and obtain the money promptly. You might acquire a personal loan for a few hundred dollars to a few lakhs in as little as a few minutes if you apply for one of our quick pre-qualified loans. A credit card with the Plus logo is also acceptable. We provide instant real and virtual credit cards and instant internet loans. It’s one of the greatest credit cards available right now. Each year, you may earn up to $6,000 in cash back with the Plus Credit Card. Aside from the 5% cashback on recharges and bill payments, you will also get gift cards and a slew of additional perks. You will get an additional 2% cashback incentive if you purchase anything else. Payment After Some Time Our new product will significantly improve your monthly budget. When you join our Pay Later programme, you may be eligible to borrow up to $5,000 monthly. You are free to utilize it whenever you believe it would be most beneficial to you. Our app interacts with various retailers, so you can rapidly top up your balance at sites like Swiggy and BigBasket, make purchases at Myntra, and even pay your energy bills and charge your phone with just a few clicks. Once you’ve paid off everything, you’ll receive one bill that lists all your charges. Isn’t that convenient? Even better, you’ll only have to pay back what you truly spent. Right now, just a tiny number of individuals can get in. How may someone utilize the money from a personal loan? Personal loans are unsecured loans that may be set up easily via a bank or a financial organization that is not a bank. When something is considered “unsecured,” you don’t have to set up any form of security to acquire it. Most Personal Loans in Junagadh feature cheaper interest rates and less paperwork to fill out than other forms of loans. Personal loans are distinct from other forms since they may be used for anything from an unforeseen expenditure to an unanticipated demand. You may utilize a personal loan for whatever you need, including paying off debt, taking a last-minute vacation, fixing your house, purchasing new appliances, or receiving medical treatment. But apart from that, you may utilize the money you acquire from a personal loan for various other purposes. There are several perks when you use our service to apply for a personal loan or another sort of credit. Nothing to back it up Most of our Loans have already been authorized and require a few pieces of paperwork to be turned in. Most of our products require your Permanent Account Number (PAN), your Aadhaar number, and a few other basic pieces of Know Your Customer (KYC) information. There is no need to install any security. No collateral or security is ever required to acquire a fast personal loan or any other credit products we provide on our website. This makes it easier to get a hold of these products. No Need to Go to the Bank Our online application procedure helps you apply for a quick personal loan or other credit product whenever and wherever you desire. With an online loan application service, you may request money without ever having to step into a bank. You can’t get much more spacious than that! Fast and straightforward to disseminate All the loan money for our rapid personal loans is immediately delivered to the borrower’s bank account. Once you’ve switched to Pay Later, you may pay from your Pay Later balance with just one click. Rewards and Special We provide customers who utilize our platform to apply for loans and other forms of credit with various time-sensitive incentives and prizes. We designed this format, similar to the typical “Personal Loan in Junagadh” format. Personal Loans in Junagadh may be able to pick from several loans and other types of financing. Make sure you can acquire a loan or other credit before applying for one. Where should I go right immediately to secure a loan? In Junagadh, an application for a Personal Loan may be sent in immediately. Loans for personal usage, vehicles, residences, and other items. EMI Calculator lets you determine how much you must pay monthly for various loans. Can I receive a fast loan without filling out any forms? You can immediately acquire a loan with your AADHAR number and a one-time password. There may be situations when you need to present additional evidence. How to find out your exact monthly interest rate on a personal loan Using the EMI Calculator on this website, you can find out how much you have to pay monthly on your loan. When you tell the calculator how much you borrowed and how long you have to pay it back, it immediately offers you your EMI. [B-02] Conclusion If you follow the instructions in the section above, receiving a personal loan in Junagadh will be simple. It would help if you also studied the articles on Piramal Finance, which go into deeper detail and educate you more.
08-11-2023
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Personal Loan

Personal Loan for Your Hair Transplant

Along with losing your hair, are you also losing your confidence? Can a personal loan be used to fund a hair transplant? Are you thinking of having a hair transplant? You should know how much a personal loan for a hair transplant may cost. A hair transplant’s cost depends on the amount of your baldness and the treatment you choose. It can cause concern if you can’t afford a transplant. Hair transplants aren’t covered by health insurance because they’re not medical conditions. Due to this, salaried people can’t afford such procedures. Choose a no-cost EMI plan to save money. Let’s read out all the details of the loan for a hair transplant below. [B-01] Types of transplants There are two different transplant procedures: follicular unit extraction (FUE) and strip harvesting (SHR). Strip (SHR) harvesting involves removing sections of the donor site’s hair growth. (FUE) involves transplanting individual hair follicles, it is becoming increasingly popular. It heals more quickly than strip harvesting and does not leave a large scar on the scalp. The outcomes are durable and appear natural. Cost of hair transplant Typically, there isn’t a single hair transplant procedure that matches all budgets for personal loans. The degree of hair damage and the unique circumstances of each patient will determine this. The cost of a hair transplant is often determined on a per-graft basis. Depending on the degree of baldness and the natural hair units, each graft comprises one to three hair follicles. In India, a hair transplant costs an average of Rs. 57,000. However, depending on your choice of doctor and other factors, it might cost as much as Rs. 2,65,000. The amount of hair loss, the area that needs to be treated, your age, the texture of your hair, and the procedure you decide on all affect how much your hair transplant will cost. In addition, FUE is more expensive than strip harvesting loans for hair transplants. Hair Transplant Loan Step Up If you need to undergo any treatments resulting from hair care procedures, a step-up personal loan for hair care treatment is the ideal option. If the cost of your treatments ranges from INR 2,50,000 to INR 4,00,000, you should choose this deal. When you apply for this loan for a hair transplant, you’ll pay nothing but interest for the first three months before making regular monthly payments for the duration of the personal loan. With this choice, you can start with low monthly payments before switching to fixed EMIs for the remainder of the personal loan term. The cost of hair restoration surgeries ranges from INR 2,50,000 to INR 4,00,000. They are frequently not covered by health insurance plans because they are not physical illnesses, which makes them expensive. Procedures for hair transplantation can be done with simple EMIs. Before applying for a hair transplant, you must estimate the cost of your surgery and choose a suitable amount and tenure. You can use our handy personal loan EMI calculator to evaluate an EMI value that fits your budget. Although pricey, hair transplants are frequently not covered by health insurance plans since they are not seen as physical illnesses. Due to this, it is challenging for salaried people with fewer resources to get such medical operations. This is where choosing a no-cost EMI plan might help you pay for your hair transplant operation over time in manageable instalments. What makes the EMI Network a good method for paying for hair transplants? This could be a responsible way to pay for your hair transplant operation without using up all of your savings. Here are a few benefits of using EMI: 1. Pay in a variety of tenors. One of the main benefits of using an EMI option to pay your bills is that these options typically include flexible repayment schedules. In general, lenders let you choose a term between three and twenty-four months and repay the money at your convenience. 2. Makes things more affordable. Hair transplant expenses may require a significant upfront payment due to escalating medical inflation. The cost of surgery can, however, be spread out over a longer length of time with the EMI Network in manageable payments. 3. It’s easy on your wallet. Without having to cut back on your monthly spending or alter your way of life, EMI financing makes it easy on your wallet so you may access pricey procedures like a hair transplant. How can I apply? With us, personal loans for hair transplant applications are quick and simple. Visit our website first, then complete the online application. In addition, you must include the following paperwork with your loan application: Aadhar Card, voter ID, or driver’s licence as photo identification and address verification Employment documentation, such as a recent six-month salary stub or employment certificate Bank statements from the last six months serve as evidence of income. [B-02] Summing-up: This article’s goal is to provide a thorough analysis of the loan for a hair transplant with reasonable personal loan interest rates to pay for your cosmetic procedures. Therefore, don’t delay getting a hair transplant if you’ve always wanted one. Investment Reliable does not offer financial advice, but we do provide unbiased information and evaluations on trading, investing, and finance. Users ought to always carry out their research. Also visit, Piramal Finance has more in-depth, educational, financial-related articles
08-11-2023
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Personal Loan

Loan Against Share – Solutions to all your question

Indian stock market investing could have a lot of benefits. One of the advantages is you can get a loan secured by your Demat account assets. Get a loan against your stocks by pledging them to your stock broker or a financial institution. This allows you to meet your financial responsibilities on time. Having said that, before moving forward with this, there are a few things you should be aware of first. Before you use this facility, there are a few important things you need to consider, and we’ve outlined those things below. [B-01] Financial Organisation. You have to be aware that not all financial institutions or stock brokers provide the possibility of securing a loan against shares as a collateral investment alternative. Consequently, searching for and choosing the appropriate educational establishment is necessary. When you are performing your search, you should focus on acquiring loans from businesses that provide loans against securities interest rates that are lower than average. This will reduce the total amount of debt that you are responsible for carrying. Confirm that you are eligible. Before deciding on a financial institution from which to use this facility, it is a good idea to first research the qualifications required to become eligible for it. Before applying for a facility, it is necessary to determine whether you match the requirements, given that these criteria usually differ from one institution to the next. This will guarantee that there are no issues with how everything is handled moving forward. Amount of the Loan When asking for a loan against securities, the next thing you need to be aware of is the maximum loan amount that may be obtained. Since the value of securities like shares and bonds tends to change often, lenders will typically only provide a part of the pledged securities as a loan. This is because the value of securities like these tends to be unstable. Loans from financial institutions typically range from 60% to 80% of the value of the securities pledged as collateral. A List of Securities Some kinds of securities are not going to be accepted as collateral by any lending institution. For instance, certain lenders would take units in a mutual fund as security, while other lenders might not accept them. Therefore, the list of approved securities could differ depending on the company to which you submit your application. Before applying for a loan secured by shares, you should check with your preferred financial institution to see whether or not the assets you now possess are eligible for use as collateral. Additional costs and fees that could be incurred In conclusion, taking out a loan against shares from a financial institution often requires the borrower to pay a predetermined sum through fees and penalties. For instance, processing or pledge fees might fall within this category. When a loan is paid off early, certain financial institutions charge additional fees known as pre-closure expenses. As a result, you must be informed of all the charges and expenses linked with such a service before moving forward with the procedure. If you proceed in this manner, you will be in a stronger position to make a decision. Increased reliance on securities and shares as investment vehicles, rather than savings alone, is reflected in India’s thriving stock and securities market. Besides contributing to one’s overall wealth, buying stocks and bonds can help one qualify for more manageable short-term loans. How to Get a Secured Loan: Advice for the Application Process After applying for a loan backed by securities or a loan against shares, you should verify that you are qualified. To help speed things up, consider these suggestions: Knowing the purpose of short-term funding and the pros and cons of borrowing against stock or other instruments to accomplish the purpose will help you make a well-informed decision. Pick a lender who offers the most competitive rates: Numerous lenders will be willing to give you significant loans if you pledge your stocks and other financial assets as collateral. While the numbers may seem enticing, choosing a financing partner that offers the most money for your assets is important. Overdraft and line of credit facilities: Loans against shares and assets are available for Rs. 5 crores from the Indian Financial Institution. With its fast disbursal process and minimal paperwork, a loan against shares or a loan from a financial institution in India is a wonderful option for meeting urgent financial needs. For a loan against shares or securities: You can only use a specific set of approved stocks, bonds, and other equities. This could be a combination of stocks, bonds, ETFs, and mutual funds (ETFs). Financial Institution India’s loan against shares website might help determine your qualifications. Select applicants who otherwise meet all criteria may be made pre-approved offers with minimal additional paperwork. When everything is processed without a hitch, the loan can be distributed rapidly. You must qualify to participate. These are the bare minimums that must be met to qualify for a loan secured by stocks and securities. To name a few of them: Be an Indian citizen. You must be between the ages of 21 and 65 to apply for a loan. If self-employed, show proof of regular income or provide documentation of regular paid employment with a public or private company. Have a CIBIL score of 750 or higher. are highly rated, have the required financial assets to be committed, and meet the criteria set forth by Financial Institutions India’s policy. Once that’s done, the applicant can submit the necessary paperwork for a loan against shares. [B-02] Conclusion After reading this, you are now aware of the aspects you need to consider before utilising this service. On the other hand, if you are interested in investing in today’s stock market, you must have a Demat account in your name. Get in touch with Piramal Housing Finance as soon as possible to initiate an account in a matter of minutes, absolutely free of charge.
08-11-2023
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Home Loan

Most Important Factors Lenders Take Into Consideration When Giving A Home Loan

“Home is where your heart is.” Home is where you get love, make memories, and build togetherness, and happiness is at its peak. A house is a concrete creation, but a home is created with love and care. As quoted rightly, “Home is not a place; it’s a feeling.” Every individual wants to have a home they can cherish for the rest of their lives. However, some people get the residential property as an inheritance from their family. But, some people have to work hard to be able to fit in the home loan eligibility for buying their own home. Purchasing a home is the most common investment choice, too. With all this, a lot of financial budgeting, proper planning, setting goals, and a little sacrifice go into owning your home. [B-01] Hence, the latter group of people fulfils their dream of buying their own homes with the help of home loans. However, getting a home loan in India is not that easy. Multiple aspects affect your possibility of getting a home loan. To know them, let’s walk through the most important factors that lenders consider before they grant your application. Important Factors Lenders Take into Consideration When Giving a Home Loan: Credit Score: One of the most crucial deciding factors that lenders consider before providing a home loan is the credit score. The credit score is an arithmetic rating that determines how effectively you can repay your debt. It is a score that determines how well you are financially fit for home loan eligibility. To make it sound simple, a credit score shows how consistent and good you have been concerning the repayment of your earlier debts and credit card payments. Any legitimate financial institution may choose to lend to someone with a good credit history. A quality credit score will prove helpful to you in receiving quicker loan approval. Usually, a credit score of 750 and above is regarded as a brilliant score for getting a loan, whereas any number between 600 and 700 is considered good. Existing loans: If you are paying any EMIs or existing loans at the time of taking a home loan, then your overall home loan eligibility will drop. Financial institutions normally consider those individuals who have no pre-existing loans because that means that they are financially sound and stable with no pre-existing liabilities. Age: A person’s age plays an important role in determining home loan eligibility. Age is one of the important factors that financial institutions take into consideration when providing consent for a home loan. People in the age group of 30 to 50 are the ideal candidates for receiving a home loan, as they have a considerable amount of work left to repay the loan. Track record: A lot of financial institutions look for an individual’s financial stability before allowing approval for a home loan. An individual with frequent job changes tends to give a negative impression on the lender’s part while lending the loan. Most financial institutions choose individuals who have been consistent employees in an organisation for a minimum of 3 years. Your chances of getting a home loan increase when you have worked for a longer time. Also, if your track record in an organisation is not good, the financial institution may delay offering you loans. Occupation Occupation is a prime factor for considering home loan eligibility. People with fixed incomes and consistency in jobs are given utmost preference. The workforce in public sector units and individuals in government jobs are chosen first because of their job stability. Individuals and doctors who work in blue-chip companies come second on the preference list, followed by engineers, chartered accountants, and lawyers. While granting a loan to contractors and self-employed individuals, financial institutions become quite cautious as they have a variable source of income that is not irregular. Profession and salary turnover: What you earn today and the estimated salary tomorrow are the two deciding elements while availing of a home loan. Your ability to repay the loan is determined by the amount of salary you earn. It needs to be proportional to your salary. Individuals with low incomes are more likely to be financially squeezed and are more likely to become non-payers. As a result, they are riskier candidates than those in the high-paying bracket. Income of a Partner If your and your spouse’s income is considered to meet the home loan criteria, you can apply for a joint home loan. This raises your home loan eligibility because your joint income will be considered at the time of repayment. If your home loan is accepted in the name of your wife, then you are eligible to receive lower interest rates than the normal home loan price. Connection with a Lender If you have a respectable and long-standing relationship with a lender, the chances of your loan getting approved increase. A stable relationship with the lender assures steadiness and trust between both the borrower and the lender. Location of your house: The location of your house is also a crucial factor that determines the approval of your home loan. The lender examines the credibility of the property you are planning to buy before granting the loan. If the property is highly marketable, the loan will be easier to obtain. If your house property is located close to malls, schools, and hospitals, your chances of getting a home loan approval are higher than those which are located remotely. House Property Approvals: The lender will first examine the house property that is being given against the home loan. If the property has any legal issues involved and the builder is at stake due to which the lender is likely to face a problem, then you are at higher risk of getting your home loan approved. Down payment: A considerable amount of down payment shall work in your favour anytime. Normally, the lender chooses a down payment of 20%. However, if it’s more, it’s still fine, as it builds confidence in your financial credibility with the lender. Excess income: Excess income, or “surplus income,” is the earnings you are left with after paying all the required taxes and settling all your other liabilities. People with excess income are called financially fit and possess a greater capacity to repay the loan. [B-02] Conclusion: If you are well versed in these factors mentioned here, you are in a better position to get the approval and disbursal of a home loan faster. If you need help with housing loans, you can always take the help of renowned experts like Piramal Finance. They can guide you on how to apply for a home loan online.
08-11-2023
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How To?

How to choose the best mutual fund to invest in 2022

There are multiple types of the mutual fund. Mutual funds can be differentiated based on their underlying assets. So, there are equity mutual funds, debt mutual funds, and hybrid funds. Every mutual fund has a different risk profile and investment objective. But no one can be the best mutual fund to invest in for everyone. The selection of the best mutual fund is dependent on your risk profile, investment objectives, and financial goals. There are multiple sub-categories within every mutual fund. These can be small-cap, mid-cap, or large-cap funds. You could have more than one financial goal that you can meet by investing in mutual funds. Equity mutual funds are more volatile but riskier as well. In comparison, debt mutual funds are less volatile but may not be ideal in terms of substantial corpus growth. Let us learn about the best mutual funds to invest in. [B-01] How To Select The Best Mutual Funds To Invest? You may be interested in knowing about the best mutual funds to invest in. In this section, we will discover some of the factors that are useful in determining the right options. Your Investment Objectives An investment must be made in line with your financial goals. Investing in a mutual fund should be done after considering your life goals. You may want to grow your wealth by investing in mutual funds. Or, you may want to purchase an asset or meet a life goal. For long-term wealth creation, an equity mutual fund may be best. Equity mutual funds can generate higher returns as compared to debt mutual funds. It is best to make a meaningful selection of mutual funds. You should do so after studying its asset allocation and growth prospects. History of the Fund The history of a mutual fund helps to understand its performance over time. You can understand the times during which it rises and undergoes correction. You can check the resilience of the fund during times of market volatility. A mutual fund that was launched recently does not have a track record. So, it can be difficult to predict its returns and performance at different times in different market cycles. The best mutual funds to invest in are those with a long track record. It helps to understand whether they offer consistent returns over time. Checking such fund histories also gives proof of investment strategies. Expense Ratio A fund management house charges various fees for managing an asset. It is collectively known as the expense ratio. It is represented as a percentage of the fund’s assets. As an investor, your net return is defined as returns less expense ratio. If the expense ratio is too high, the net returns to an investor will be quite low. So it is best to look for a scheme that does not involve a high expense ratio. You must compare multiple options to check which is the best among the peers in a different class of mutual funds. Performance Of Fund Manager The real mind behind mutual funds is fund managers. They are the people responsible for managing the performance of a mutual fund. To select the best mutual funds to invest in, you must check the track record of the fund manager. It is very important to check the performance of the fund manager at the time of a rise or a correction in the market. You can also check the performance of different schemes that are managed by the same fund manager. Consistency of the fund Some of the best types of mutual funds in India have a proven track record of good performance. In general, they consistently outperform the market in the long run. This could be a time frame between three and five years. If you check their peers, you will discover that the best ones outperform them. It is best to check the performance of these types of mutual funds across multiple business cycles. Also, check the performance of the fund during market downturns. Usually, a typical market fluctuation will have a less-than-average impact on the performance of a well-performing fund. But remember that the past performance of a fund is not always a guarantee of its future performance. Check The Financial Ratios Several financial ratios, such as alpha and beta, help identify the best types of the mutual fund. There is always a link between the returns of a mutual fund and the associated risks. If there is an increase in the overall value of the corpus invested in a mutual fund, then you can expect to draw a return from the fund. Risk is the uncertainty that surrounds a mutual fund. It refers to the possibility that you may not be able to draw any returns from an investment in a mutual fund. Or you could also expect negative returns from your investments. So, it is essential to study the risk and return potential of mutual funds. Financial ratios are an essential tool for conducting such an analysis. For this purpose, Sharpe and alpha ratios are used widely. [B-02] In Conclusion There are multiple types of mutual funds that you can invest in. Each day, the available options for investing in mutual funds are expanding. However, before placing your hard-earned money in any mutual fund, it is essential to check whether it is worthy of investment. The factors listed above should provide a checklist for assessing the best mutual funds. For more information about the best mutual funds, check out Piramal Finance. It is a leading platform where you can get all the financial information that you require to assess a mutual fund. Further, you can also use the information to make an informed decision about your investments.
08-11-2023
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Cards

Complete Guide On How To Check Your Credit Card Balance

If you’re a responsible adult who pays bills on time, you might have a credit card. Credit cards are widely accepted as payment mechanisms for small purchases like groceries or dining out. Having a credit card gives you the opportunity to build or rebuild your credit score. Whether you’re a young adult just starting out with your financial life or an older adult looking to establish new credit, having a credit card is an excellent way to do so. Here’s how to check your credit card balance and stay financially accountable. [B-01] How To Check Your Credit Card Balance Online? To check your credit card balance online, the website of your credit card company will usually let you log in with your username and password. This can also be done at many financial institutions, like your bank website or your credit card company’s mobile app. You can also see information like account balance, monthly payment due dates, interest rates, and transaction histories like the date, amount, and merchant’s name. While logging in to your credit card account online, make sure you are logged in to your account and have read-and-acknowledge access. How To Check Your Credit Card Balance By Phone? If you don’t have access to the internet or need to check your credit card balance quickly, you can call your credit card company’s customer service. Most credit card companies have a customer service number you can call. When you call your credit card company’s customer service, you’ll usually be asked to provide your account information and the reason for your call. The customer service rep will then provide information about your credit card account and see if they can help you figure out your current balance. If you want to check your credit card balance by phone but don’t know how to use the system, don’t worry. The representatives at customer service usually have a system that allows you to quickly and easily check your account balance. How To Check Your Credit Card Balance By Mail? Sometimes, when you’re trying to check your credit card balance by phone, you’re just not getting through. In this case, you can always send a cheque or cashier’s cheque to your credit card company. Once the cheque or cashier’s cheque has been mailed, mark it as proof of delivery. In this way, the credit card company will know that you have mailed the payment and that it cannot be encashed unless they receive it first. Check Credit Card Provider’s Website Or App If you’ve been checking your credit card balance online or by phone, you can double-check your results with a quick look at your credit card provider’s website or mobile app. Make sure you are logged in to your account to get the most accurate information. You can also apply for a credit card account or log in to your account. If you have a website password or PIN code, you can use this code to log in. Once you are logged in, you can see your account information again. You can also apply for a credit card or use your card. View Your Credit Card Account In Your Bank’s App Most banks have an app that lets you view credit card account information. If you have an account with them and have an app, log in to your account to see your credit card information. Most banks will also give you the option to check your credit card balance within the app. If you have a checking account with your bank, you can usually view your credit card account information and check your credit card balance within your account. You can also log in to your account and make sure that your information is up-to-date. Check For Fraudulent Charges If you’ve been visiting your credit card account online or by phone, you should also check your transaction history and look for any fraudulent charges. Make sure that all of the charges on your credit card account are legitimate and that they’ve been charged to your credit card account. You can do this by regularly going through your credit card statement. You can also request a printed copy to be delivered to your home by mail. If you notice any unauthorised charges on your credit card account, contact your credit card company immediately and file a complaint. Your credit card company may reverse the charges or issue you a refund. [B-02] Wrap Up Credit cards have become increasingly popular over the last few decades. One of the main reasons is the spending boost it gives to users. You can buy something with instant, pre-approved credit with it. However, this has created some problems. One such problem is overspending. Keeping a close eye on your credit card balance can help. If you have a low balance, it will deter you from spending. Otherwise, it will help you find out how much you can spend. You can read out more about the utility of credit cards and how to manage your credit card expenses through related blogs on the Piramal Finance website.
08-11-2023
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Home Loan

Home loan Eligibility Criteria Factors & Tips

All financial organisations, including banks and credit unions, use the same home loan eligibility to determine who qualifies for house loans (NBFCs). However, additional requirements may be based on a lender’s specific guidelines. Once familiar with the prerequisites for obtaining a mortgage, the application procedure will move more quickly and easily. Home Loan Eligibility Criteria Minimum Income Rs 12,000 Work experience Almost two years Age 21-70 years Loan amount The lender decides it Credit score 700+ LTV ratio Up to 85% Property type Under construction, land, completed, etc Employment status Salaried or non-salaried Residence type Permanent resident or NRI To qualify for a loan, your criteria may differ from one financial institution to the next. The customer’s income, credit history, and duration of banking relationship are evaluated to establish their home loan eligibility. Factors Affecting Home Loan Eligibility Criteria Age Limit When deciding whether or not to provide a home loan, a lender will look at the applicant’s age as one of the most critical factors. Banks often try to cap the loan term at the borrower’s expected retirement age when approving a mortgage. This means that people in their twenties and thirties who have established themselves professionally may qualify for a loan with a term of up to 25 years. Candidates above 40 may find it more challenging to be considered for a longer term, though. Home loans for single applicants aged 50 and above have traditionally been denied for this reason. Income Let’s break down monetary gains into three groups: salaried, professional, and self-employed. Regardless of home loan eligibility, candidates must provide proof of steady income. If a borrower has steady employment, the lender has reduced default risk. Salaried: Anyone receiving a regular paycheck from the government or a legitimate commercial company qualifies as a salaried individual. Most financial institutions require applicants to have been at their employer for a year before applying. Paycheck stubs, a completed Form 16, bank statements, and a character reference from a current or previous employer are standard requirements of almost every lending institution. Co-applicant and guarantor documentation is also necessary (if applicable). Independent Professionals: Doctors, dentists, architects, engineers, management consultants, chartered accountants, and many more are a few examples of self-employed professionals. Bank statements and tax returns must be provided. Self-employed: Are you the head honcho in your own company or group? Do you own any shares of stock or have any rental properties that bring in money? Consequently, you are included in this category. You may do so without hesitation if you have bank records and tax paperwork to back up your home loan application. Rate of Interest The Financeability of a house loan is inversely proportional to the interest rate. Fewer people will be eligible if the rate is higher, and vice versa. Term of Loan Choosing a longer term for your loan can boost your chances of approval. Lowered and more manageable EMIs are another benefit. There is a catch, though, since you will pay extra interest. Total Amount of Outstanding Loans Institutions providing financial services in India often suggest a 50-60% EMI to income ratio. This will clear the way for any prospective future loans or debt repayment, if any. Any outstanding debts may severely impact the ability to participate. CIBIL Score The Credit Information Bureau India Limited (CIBIL) is India’s primary credit reporting agency, and banks there will look closely at your payment history with them. They keep detailed records of your credit history and dealings with financial institutions. If you have a bad entry, it might drastically diminish your chances of being accepted. Home Loan Eligibility Documents When applying for a home loan, the detailed documentation required might vary from one financial institution to the next. It is customary for a candidate to detail the following: Proof of residence Proof of identity and current passport-sized pictures Financial records and statements Financial aid applications, mortgage loan requests, etc. However, you may apply for a loan after reviewing the documents required from borrowers in your category. Tips to Improve Home Loan Eligibility If you want to improve your chances of getting a home loan, you may do Including a high-earning relative as a cosigner on the application. Use of a prearranged payment plan. Making continuous income and regular savings a priority. Explaining how you often enhance your income. Keeping track of the components of your variable compensation. Doing everything you can to fix your credit if it has any errors. Resolving Existing Debts with Term Restrictions Home Loan Eligibility Calculator The purchase of a first home is often a significant milestone in the lives of millennials as they transition into their roles as heads of their households. However, despite the potential benefits of real estate as an investment, purchasing property might be out of reach for many people, particularly in more expensive regions. You can buy a house that you can call your own with the assistance of a mortgage. Receiving pre-approval for a mortgage is the first step in acquiring one. The amount of your monthly income, the amount of debt you already have, your age, and the number of years before you retire all determine whether you will be accepted for a mortgage loan. It may also indicate the maximum mortgage amount you qualify for in certain circumstances. Utilise the Home Loan Eligibility Calculator to determine the maximum amount of a home loan for which you may be eligible. The convenience of one’s own house allows for calculating home-financing estimates. To use the home loan eligibility calculator provided, you need to input your monthly gross income, the loan term, and any current EMIs. It will tell you the maximum loan amount you are entitled to acquire and the EMI that goes along with it. [B-02] Conclusion Prospective borrowers should meet all home loan eligibility conditions before applying for a mortgage loan. Several variables must be considered, including age, income, employment status, bureau score, and property value. Self-employed people and wage earners have various requirements to qualify for a Home Loan. To qualify for a mortgage loan, all you need to do is meet certain basic conditions. To learn more, consult with an expert at Piramal Financing House. You will receive the guidance.
08-11-2023
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How To?

How to Buy and Sell Currency in Forex?

The forex market is one of the most liquid and active trading markets. This means traders can buy and sell currencies at any time, day or night, and at almost any price. If you want to trade in the forex market, you’ll need to learn how to do it effectively. This article will explain the ins and outs of forex trading—buying and selling currency in the market. [B-01] What is Forex? Forex is the international exchange market where investors can buy and sell currencies from countries around the world. Currency pairs that can be traded in this market include the US dollar versus the euro, the Japanese yen versus the British pound, and the Indian rupee versus the US dollar, among others. Tips for Successful Forex Trading Forex trading can be a very lucrative business. However, it is also risky, and it is important to be aware of the risks involved when trading in the forex market. Here are a few tips one can follow to be safe: Know your limits. This is especially true for beginners, who might be tempted to try and make a lot of money in a short time. Be realistic about your expectations, and instead of thinking about making a fortune, think about being able to meet your financial obligations. Have enough capital to trade large amounts of money. It is important to remember that the amount of forex you trade is directly proportional to the amount of money you are willing to risk. It is best to start small and increase the amount of money you trade as you become more experienced. Be patient. It is easy to get impatient when you are new to forex trading, but impatience is the leading cause of losses in the forex market. Patience is essential when learning how to trade currencies in the forex market. Different Types of Forex Trading Day Trading: Day trading is usually done with little money. It is a fast-paced way to make money because you quickly move the money from one trade to the next. Because you are moving the money quickly, you are also taking many risks. Swing Trading: A swing trade is a strategy in which you buy and then sell a currency for a short time before buying it again. This is a slower method of trading. It is still a high-risk method because you are still making big moves with small amounts of money. It is best suited to experienced traders looking for a more stable way to earn money. Scalping: Scalping is a very short-term trading method. It is used for very short-term trading and has the lowest risk of all forex trading strategies. It is best suited for experienced traders looking for a fast way to make money. Tips and Tricks for Becoming a Forex Trader Forex trading in India is all about risk management. If you don’t know how to manage your risk while trading effectively, you might lose a lot of money. Forex trading is a long-term investment. There is no point in moving the money out of the forex market or trading with a strategy that doesn’t work. When indulging in currency trading in India, it is vital to adhere to the rules and currency trading in India, it is vital to adhere to the rules and follow proven strategies. Forex trading is a very tricky business. If you’ve followed all the rules and still haven’t made money, you’ve not been using the right strategies. Reading is vital, but taking notes and taking some time to understand how you can implement what you learn is important. Make notes about why you like the information you read, what you don’t understand, and what you want to remember for your next reading session. Do as much research as possible to learn as much as you can about forex trading in India. Forex trading is a complex business, and the better informed you are, the better your chances of making money. How to Buy Currency in the Forex Market? The first thing you need to know is how to find the current price of a currency. The best way to find this information is to visit a website that tracks the current price of a particular currency. Once you have the current price for a particular currency, you can go to an online exchange and buy that currency. An online exchange is where you can buy and sell different financial assets, including forex. There are a lot of online forex trading platforms that allow you to place orders to buy and sell currencies. It is important to find an online trading platform where you can easily place and cancel orders. How to Sell Currency in the Forex Market? The process of selling currency is almost the same as buying it. You need to find the current price of a currency, go to an online exchange, and sell the currency. It is important to remember that the amount of forex you sell is directly proportional to the amount of money you get to risk. It is best to start small and increase the amount of money you trade as you become more experienced. It is also critical to remember that the amount of forex you can make is directly proportional to the amount of time you put into the business of forex trading. Forex isn’t a short-term game. It takes a long time to become a good forex trader, and it might take even longer to become a great forex trader. Top 3 Mistakes New Traders Make Here are some of the common mistakes people make when they start forex trading: Not understanding how to manage your risk when trading in the forex market properly. You must learn to manage risk if you want sustainable growth. Not knowing which forex trading strategies are best suited for you. Examining your strengths and weaknesses before you start trading carefully is important. Not knowing how to manage the money when trading properly. It is important to have a strategy for how you will invest your money when you are first starting. [B-02] Conclusion Forex trading can be very lucrative if you know how to protect yourself against the risks involved in trading in this market. It is a long-term investment; you will make significant gains only if you have patience. If you’re looking to start forex trading, you must consider working with Piramal Finance. They provide flexible solutions to make the job easier. You can consider using their products and services related to forex trading. Reading their blogs would give you a deeper understanding of forex trading.
08-11-2023
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