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Personal Loan

How to Treat Yourself with Instant Loans on Christmas?

The end-of-year celebrations bring with them the need to make big expenses. Buying gifts, throwing parties, and planning holidays may add to your money needs quickly. If money is limited, borrowing it might be the wisest choice. You can borrow a large sum through an instant personal loan and pay it back over time, usually in regular monthly payments. Different lenders provide a wide range of loan offers. A holiday loan can be obtained with or without security, and unsecured loans only require a stable income and good credit. But secured loans often have more lenient terms than unsecured loans. However, the best part about unsecured instant personal loans is that defaulting on them might not result in collateral loss. [B-01] Benefits of Instant Personal Loans for Christmas As Christmas approaches, thoughts turn to loved ones for whom you want to buy presents. To help you plan your expenses well this Christmas, instant personal loans come with some great benefits: 1. Flexible Repayment Options There are many ways to repay your personal loan, including overdraft protection, interest-free periods, and step-up payments. Such systems support a range of monthly revenues and cost patterns. With a well-thought-out repayment strategy, you can manage EMI payments and make sound financial choices. 2. Quick Process You can expect a quick response time when applying for an instant personal loan. Lenders swiftly process your application, allowing you to receive the money within days. In many cases, the funds are transferred within 24 hours of approval. 3. Streamlined Application Process You can apply for an instant personal loan through the lender’s website or mobile app. You only need to add some personal details to kick off the process. Banks and NBFCs keep the application process simple and require only minimal documentation. So, the applicants hardly need any help with filling out the application form, and it can be done within minutes 4. No Hidden Costs To put instant personal loan applicants at rest, most credible lenders implement transparent processes. All costs, including processing fees, interest rates, and foreclosure charges, are made clear at the outset. In fact, Piramal Finance charges no foreclosure costs on their personal loans after six months of on-time loan payments. 5. Additional Cash to Enjoy The holiday season is notorious for unexpected expenses, so it is a good idea to set aside some extra cash. The ideal way to cover the holiday expenses would have been a salary raise or an end-of-year bonus, but these are rare. So, getting a personal loan for the holidays might help you get through a hard patch and cover any sudden expenses. Offers for Instant Loans on Christmas Many lenders, including banks and credit unions, are providing Christmas loans this year. Instant personal loans, including those marketed as ‘Christmas loans’, can be accessed easily. There is no uniformity in the terms, rates, or application processes among lenders offering quick cash loans. Given this, it is prudent to weigh all your choices. Some loan providers will not even look at your credit, while others will have very low thresholds for approval. On the other hand, such lenders may quote high rates of interest, going beyond 40%. Instant personal loan interest rates typically remain around 36%, but borrowers with a great credit history may be able to secure rates as low as 4% or 5%. We advise against taking out a Christmas loan with no credit check, even though it might provide you with quick cash and instant financial freedom. Tips to Apply for an Instant Personal Loan 1. Perform Market Research When looking for instant personal loans, shopping around for the best terms and interest rates is important. Compare the offers provided by different lenders, and pick the one that is most transparent and meets your needs. 2. Find a Feasible Offer Before agreeing to a loan, be sure the interest rates are manageable. In a hurry to get yourself a loan, you must neglect foresight. Plan ahead and ensure that the rates and EMI sum that you agree to fall within your payment reach for the coming months or years. 3. Track Your Credit Knowing one’s credit score and report is crucial before applying for a personal loan. If your credit history is strong, you may qualify for a lower interest rate on a short-term instant personal loan. Credit monitoring and credit reports can be obtained every year at no cost by visiting Piramal Finance. 4. Plan Your Budget Before asking for a loan, you should be sure that you will stay within your overdraft limit. You should also ensure that you will not be charged late fees because you fail to make your monthly payments. Maintaining a good standing with your lender may need you to set up automatic payments from your bank account. Many lenders provide discount rates to customers who make their payments regularly and on time. Avoid incurring overdraft fees by keeping your bank account funded. [B-02] Conclusion Since Christmas is at the doorstep, the expenses of your festivities and presents need to be taken care of. All of your Christmas needs can be met by taking out a personal loan. An instant personal loan means you can still shop for yourself this Christmas, even if you’re running later. All you need to do is maintain a good credit record and make a foolproof repayment plan. If you need help understanding your personal loan options, talk to the experts at Piramal Finance. Or you can also just their website to check out all the Christmas deals they offer on personal loans and other financial products and services.
08-11-2023
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How To?

Complete Guide On How To Trade In Derivatives Market

Are you planning to trade in the derivatives market? Hoping to know how it can help you enjoy more profits? Let’s read about what derivatives are and how to trade them. Derivatives are described as financial contracts whose value is decided from underlying assets. The underlying assets here could be currencies, stocks, products, commodities, rates of exchange, or interest rates. In the last couple of years, there has been significant growth in the derivatives market with the launch of numerous derivative contracts worldwide. The main reason for the sudden surge in derivatives market is higher fluctuations in asset rates, deployment of financial markets across the world, better awareness about this market among the participants, etc. In this write-up, we will discuss the requirement to trade in the derivatives market. We will also discuss the possible options and future of this kind of trading. [B-01] A Brilliant Example of a Derivatives Market? Suppose a rice farmer wants to sell 20 quintals of rice after six months at Rs. 3000/quintal. However, he doesn’t want to take risks and thus decides to get in touch with a broker. The seller agrees to sell 10 Quintal rice after six months at Rs. 3000. In case, the next day the cost reduces to Rs. 2900 due to some expected reasons, the broker has to legally pay Rs. 3000 as committed to the farmer. However, after six months, if the rate of rice increases to Rs. 3100, the farmer would lose Rs. 100/quintal as the farmer is legally bound to sell it for Rs. 3000/ as per the contract with the broker. This is how the derivative market works. Derivatives Kinds: There are four main kinds of derivative contracts including: Forwards & Futures Under these financial agreements, buyers are obligated to buy an asset at a cost decided in advance on a mentioned future date. These kinds of derivatives are tailored contracts and can’t be traded anywhere. Futures Under this kind of derivative, the buyers are obligated to buy an asset at a mutually decided cost. Here the kind of forwards & futures contracts are identical. However, the main difference between the two is that futures are mostly traded on the Exchanges. Options Options give the buyer ownership but not the obligation to either buy or sell the asset at a mutually decided price. There are 2 kinds of options including call and put option. In the former one, one has the right but no obligation to purchase a fixed quantity of an underlying asset at a particular cost. However, in the latter one owns the right but no obligation for selling an underlying asset at a particular price. To purchase any of the options, paying a premium amount is mandatory. Swaps These allow cash flow exchange between 2 parties. The most common kinds of swaps in the trading market include currency swaps, Interest rate swaps, and commodity swaps. Prerequisites for Derivatives trading Trading account Toconduct your trades, you need to create an online trading account. The account number acts as the identity to trade in the markets. Make sure that your account allows you to trade in derivatives and in case there is some issue, you can get in touch with yourexpertsto get the services activated. To trade derivatives in the country’s stock market, one has to link his/her DEMAT account with their trading account. Arrange the mandatory margin amount One can enter into derivatives contracts by paying just a small amount and requires an extra margin in traders’ hands according to the stock fluctuation. There will be a change in the amount due to a change in the underlying stock. So, it is recommended to keep additional money in the account. Since the derivative has high risk attached to them, thus the derivative trader needs to keep some amount of the value as cash. The same amount is known as margin money. The Securities and Exchange Board of India (SEBI) regulates the trading of derivatives in the nation’s stock market. SEBI has fixed certain margin limits to lower the risk involved for the stock exchanges a person is trading on. Important Things to Note Down in Derivatives Market Research Well This is the most important factor which needs to be considered before foraying into the derivatives market. All the details will be available in Derivatives contracts, so make sure you go through them carefully. Margin maintenance Another important thing is margin maintenance. Choose the stocks and their contracts based on the amount you have, the margin requirements, underlying shares’ cost, and contract cost. [B-02] Conclusion Hope now you know what the derivatives market is and how to trade in the market. Derivative trading is considered a high-risk and high-profit market and to foray into the derivatives in the Indian stock market, it is mandatory to have a trading account. If you are a fresher and beginning with trading for the first time, it is suggested to take the help of the experts. They can guide you more on the derivatives market and can let you know the options and future of this kind of trading. Taking the help of professionals makes trading easier and more profitable.
08-11-2023
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How To?

<strong>How to trade in the global share market</strong>

From Apple, Google, Tesla, Amazon, Alibaba, Netflix, and Microsoft stocks to shares of Samsung, Saudi Aramco, Visa, LVMH, and Tencent Holdings, Indian investors residing in the country are now buying shares in foreign firms to diversify their portfolios. Also, Indian nationals living abroad are using the liberalised Remittance Scheme from the Global Share Market to send home as much as $250,000 a year for allowed portfolio investments and other reasons. However, thanks to the available data and the stringent governance requirements maintained by these firms and stock exchanges, one may have a better grasp of your assets. [B-01] Remittance Liberalisation: What Won’t Work (LRS) Foreign investments made by Indian citizens are subject to the country’s foreign exchange restrictions and regulations — RBI’s LRS. Indian may transfer up to $250,000 abroad for portfolio investments in overseas stocks or bonds in any fiscal year for any permitted current account transaction, or capital account transaction. LRS plans to apply to invest with Gift City’s International Financial Services Center (IFSC). The same is true with LRS, where only residents of India can use it. This rule does not apply to the large and growing NRI community (non-resident Indians). They are restricted to spending no more than $250,000 on investments. They cannot have foreign assets and can transfer $1 million out of India every fiscal year. The following are some of the strategies that international stock market investors can use: Funds Spent That Are Immediately Allocated to the Budget: Opening a trading account with a foreign broker or an Indian broker that works with a foreign broker allows an individual to invest in the Global Share Market. Investing abroad might be beneficial, but if your broker asks for a big down payment, you’ll need to factor that cost into your calculations. Global Investment Financial Services Centre (IFSC) in GIFT City: A Vehicle for Purchasing Shares Abroad There are two major Global Share Markets located in the International Financial Services Center (IFSC) of Gujarat International Finance Tec-City: NSE International Exchange (also known as NSE IFSC), a wholly-owned subsidiary of NSE Ltd. The India International Exchange (IFSC) Limited (also known as India INX), is a subsidiary of BSE (GIFT City). As a result of these exchanges, Indian investors now have a global trading platform on which to conduct business with world share markets. Funding for Expenditures Mutual funds are one option for investing in world share markets. He can use either Indian rupees or funds from the international stock market to buy overseas stocks. Rather than purchasing individual companies, investors can gain exposure to the global share market. They can buy index funds that invest in markets based on benchmarks. The S&P 500, NASDAQ 100, Dow Jones, and the Russell. Those that need e extra stock market expertise and would like to diversify their assets globally may enjoy this strategy. Age-Related Events and Outings The fin-tech industry has developed smartphone apps. Indians may use these to invest in international stock markets. How to Prepare for an International Investment The investee firm, a potential foreign equity investor should take caution and consider the following. Probability of a Continent’s Erosion There are a lot of risks associated with investing overseas that need beforehand. Regional and Global Share Market conditions; analysis of economic and market trends. Investigation of the investee company’s past, present, and future performance; etc. The International stock market would be wise to avoid companies with hostile relationships with India. Currency devaluation is a potential risk factor. Hedging against currency risk due to market fluctuations is difficult. Investors can incur gains or losses as the value of one currency (such as the U.S. dollar or British pound) rises or falls in respect to another (euro or Japanese yen, Indian rupee). So, while preparing for a return, it’s prudent to consider the possibility of currency risk. Suppose you invest in the U.S. dollar in the expectation that it would appreciate versus the Indian rupee. In that case, you may expect a bigger rupee return, and the converse is also true. Unpredictability can lead to harm The ups and downs of share prices result from price volatility, the risk investors take. Volatility is a risk associated with the ups and downs of stock prices. The price of a stock will be more volatile if its risk level. Our research has led me to believe that established. Stable marketplaces may provide the finest chances for financial investing. Threat to Materials Any circumstance where there is a high probability that a country’s economic measures would decline is an “economic risk.” A company’s bottom line might take a serious hit for various economic reasons. Not limited to high unemployment, variable interest rates, unpredictable politics unfavourable legislative events. Before purchasing foreign shares, an investor should think about the country’s macroeconomic fundamentals. Reducing the expense of business transactions Transaction fees for purchasing shares of a foreign business might be higher than those for purchasing Indian equities. Asking and selling prices is an unaccounted-for expense in the international stock markets. Business in the same currency as your assets can assist you in avoiding having to convert your money back and forth too often. Exploring Sources of Possible Future Profit Indian investor purchases foreign stocks via LRS and the yearly remittance is more than INR 7 lakh. The licensed dealer bank is liable for calculating and paying the 5% tax received at the source. This is a new language version of Section 206C (1G) of the Income Tax Act of 1961. (“I.T. Act”). [B-02] Conclusion Buying equities traded on the international stock market can be a good way to diversify your portfolio, but only if you’ve done your research. The onus is on the investor to ensure that all aspects of the transaction, such as taxation, and reporting. The usage of foreign currency follows the local legislation where the investment is made. Piramal Financing House is an excellent place to get knowledge of the global financial markets.
08-11-2023
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Business Loan

Reasons to Take Business Loan for Hotels &#038; Reports

Do you have a plan for a hotel and resort business setup? You can cover all your business loan expenses with the help of business loans for hotels and resorts. With funds, it will be easy for you to afford beds and chairs. The hotel industry has huge earning potential. You won’t have trouble paying back the loan. Please read all of the information regarding business loans for hotels now. [B-01] What is a business loan? In India, several banks and NBFCs offer unsecured business loans. The main goal is to meet the urgent needs of a rapidly growing business. Banks provide these loans at fixed-rate and variable-rate terms. Loans to businesses are sometimes known as “commercial loans.” Small businesses, including those run by sole proprietors, partnerships, or self-employed individuals, can apply for these loans. How to get a business loan? You can apply for a business loan at several places by applying online along with the necessary documents. Banks transfer the loan amount to the recipient’s account after completing the paperwork. What are the different types of business loans? Types of business loans include the following: Term Loan Many companies opt for a term loan to finance their operations. It can be a secured or unsecured loan. Unsecured business loans can be repaid in 1–5 years. But, secured loans can take 15–20 years. The amount that can be borrowed is based on the company’s credit history. Capital expenditures are the most common application of a term loan. The lender makes a lump-sum disbursement of the authorised amounts. Start-up Loan Small firms can benefit from start-up financing. Borrowers of such loans may not have an established credit history due to their lack of experience in the corporates. Hence, the credit history of the individual applying for the loan and the business itself are taken into account. The size, period, and interest rate of a loan are all found based on several variables, including the business’s turnover data. A running business is required, and the applicant must show proof of registration. Working Capital Loan Loans for working capital help small businesses make up for temporary cash flow gaps. When done properly, it establishes a healthy cash flow balance, which is necessary for an enterprise to succeed. This loan is used to make up for a lack of funds at any time, whether it be during slow times or when demand is high. Working capital loans are used by exporters, importers, manufacturers, wholesalers, retailers, and service providers. Reasons for Hotels and Resorts to Get a Business Loan Maintenance and Renovation Guests at a hotel or motel often look forward to the hotel’s maintenance and renovation efforts. This includes the provision of things like a pool, fitness centre, and spa. Expansion Hotels and resorts that already exist have the option of expanding into neighbouring communities. A larger fan base is attracted when a business has a physical location in more than one city. A business loan for a resort might be a helpful way to get cash in hand for this purpose. Marketing The finish of a hotel’s construction is just the start. The existence of a hotel depends on an active advertising campaign that promotes the hotel’s name and increases the hotel’s visibility. Either employing a specialised crew or going the outsourcing route will get the job done. Business loans for hotels can increase their bottom line by investing in strategic marketing campaigns that showcase the property’s distinct selling points and advantages over the competition. Licences And Regulations Hotel operations require few permits, certifications, and registrations to operate legally. Failure to comply with legal needs can lead to fines, jail time, and even the dissolution of a company. For obtaining a licence, hotels may be required to make improvements to existing facilities. This includes- the renovation of guest rooms. Such costs can be paid for with business loans for hotels. Recruitment Hiring good people to work at the front desk, in management, and in the back office is vital. Business Loans From Banks And NBFCs If the hospitality sector is to recover, government policy action and tax incentives are essential. But, it may be a while before the economy fully recovers with only government support. A business loan for resorts could be helpful in this case. Those seeking a fresh start with the opening of a hotel or resort go for a loan. Borrowers who already have hotel debt might also try to get a better loan condition with their bank. You can get the best business loan for hotels. Borrowers can use money from banks or non-banking finance businesses for debt consolidation, expansion, renovations, and the acquisition of machinery and vehicles. But, borrowers should have a plan before asking for a loan. Many banks and NBFCs offer other forms of other loans to business owners besides loans. [B-02] Conclusion The gist of this article is to give an idea of business loans for hotels. If a business loan is the best choice for you or not should be taken care of by you. Before investing it is also important to be aware of other sides too.Hotels’ deposits are sometimes rejected by the bank. Banking laws allow for the topping off of an existing loan with a new lender without the need for additional collateral. A well-thought-out business plan is essential for obtaining hotel loans like this. Users ought to always carry out their research. Visit Piramal Finance which has more in-depth, educational blogs.
08-11-2023
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Mutual Funds

Simple Systematic Investment Plan (SIP) Calculator

A simple Systematic Investment Plan is the best way to avoid the shocks of stock market investing. You also reap the benefits of high returns. SIPs work best with equity mutual funds. SIP is the right option for a good future for yourself and your children. SIP is perfect for those with long-term goals like education, marriage, or retirement. SIP works on a predecided sum. Here, the investor uses an SIP calculator to know the amount of money to be saved to build up the required corpus. Let’s look at the SIPs and mutual fund SIP calculator in detail to understand how it calculates your savings for the future. [B-01] What is an SIP? A Systematic Investment Plan (SIP) is an investment. It enables you to make periodic fixed investments in a mutual fund scheme. SIP investments can be made on a weekly, monthly, quarterly, or annual basis. Indian investors are increasingly choosing the disciplined investment option. This is because it offers the advantage of rupee cost averaging. This equalizes changes in net asset value (NAV). It means that your fear of losing money due to market volatility is reduced. What is an SIP Calculator? A growing SIP calculator is a financial instrument. This enables you to compute the returns on your mutual fund investments made through SIPs. It provides an estimate of the expected returns. But mutual funds’ actual results vary depending on variables. The returns estimated by the SIP calculator online are also illustrative. They also depend on the expected annual return rate and the past performance of an SIP mutual fund. So, you must take care here while determining the predicted rate. When choosing this predicted rate, make sure to consider the following: If you have decided on the category of a mutual fund in which you would like to invest, then you can take the category return for some time. If there is one particular scheme that you are interested in and want to assess, then you can choose the SIP return of that plan. Whatever rate you get through the SIP Calculator Online should match your financial goals with the investment goal of the mutual fund scheme. Always remember that the returns of a SIP in a mutual fund are never guaranteed, unlike a fixed deposit. This is because mutual funds are linked to the market. This in turn affects the projected returns. How Does an SIP Calculator Work? A growing SIP calculator is a tool that aids in determining the final value of a series of payments over a given length of time with an expected growth rate. SIP calculators online are widely available. Many of them may be found on the websites of mutual funds. Here is how an SIP calculator works to provide you with the amount that you need to pay frequently over a period of time. There are three elements that you must know and that are used to operate a growing SIP calculator. These elements include the number of regular investments, time, and expected rate of growth. You can find an option for quarterly payments in some SIP calculators online. Some of the growing SIP calculators also do offer the option of knowing the SIP amount. It is important to save a specific amount in addition to calculating the final sum. You can find out how much money you need to save by using the SIP calculator online. There is an option for a step-up in monthly savings in many SIP calculators online. You may also have the option to adjust the corpus for inflation in some growing SIP calculators. Here, you can know the worth of the final amount by entering an expected inflation rate since inflation reduces the purchasing power of the rupee. Benefits of an SIP Calculator The mutual fund SIP calculator is a useful and fascinating investment tool. It can be beneficial to you as an amateur investor in the following ways: Time-saving tool: The growing SIP calculator is useful and simple to use. You can save time by not having to learn and perform difficult calculations by yourselves and instead getting the desired amount immediately. Establishes the required amount: The SIP calculator online knows the target amount based on your SIP investments, frequency, return percentage, and duration. Goal planning: The Growing SIP calculator is a fascinating tool to plan your life goals. The SIP calculator online can inform you of the monthly SIP that you need to make to achieve your goals. If you plan to buy a Macbook, you need to calculate the amount you need to put aside to buy it in, say, 2 years or so. Who Uses an SIP Calculator? It can be used by anyone who wants to invest in mutual funds through SIP to have an estimate of the future value of their SIP investments. You can use the calculator to check the future worth of your current investments in mutual funds. [B-02] Conclusion We hope you have understood that the SIP calculator applies the power of the compounding concept to determine the future value of your SIP investments. The most important thing to know here is that the more time you devote to the growth of your money in SIPs, the longer you benefit. The growing SIP calculator knows the amount you will get from your SIP investments using the data you provide to the mutual fund SIP calculator. When you know how much you can save with your current SIPs, you can decide whether you need to do more saving. This is especially true for needs such as retirement savings, education, or real estate. If you still are not sure whether you need to apply for SIPs or not, then contact Piramal Finance, where you can get more detailed and insightful information.
08-11-2023
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Home Loan

The Most Common Problems That One&#8217;s Facing While Applying For A Home Loan

Are you deciding to use a home loan to pay for the house of your dreams? Are you one of those who consider buying a home one of their major financial decisions? Therefore, you should be aware of the most typical issue you encountered while applying for a home loan. A dream house purchase with a loan might not be as simple as some people might believe. First of all, a housing loan is not financed, so borrowers must pay funds of some kind to effectively purchase a property. To learn about some of the typical issues you can encounter and how to prevent them in the future, read the entire article. We will discuss these issues with you and offer solutions to make your home loan application go more smoothly. [B-01] The process of securing a housing loan to use as a down payment on your dream home might not go as simple as you had hoped. First, borrowers are typically required to make a down payment on their mortgage. As the cost of buying a home continues to rise, it could take a sizable amount of your income to fulfil this obligation. High house loan interest rates are another common reason home loan applications are turned down. When making a property purchase, more than simply the price tag should be taken into account. We need to go deeper into this issue. Problems people may face while applying for a Home Loan If you’re in the market for a housing loan and you don’t know the essentials, you could end up with higher payments, a declined application, etc. Your credit score would drop if you were denied a house loan interest rate, but increasing your payments could put you in danger of defaulting in the future. Let’s take a look at the most common issues that arise when requesting housing loans: First-Round Rejection Rejection during the application stage is a regular issue for those seeking housing loans. Possible reasons include failing to meet the minimum age requirement, failing to meet the minimum income requirement, failing to provide the necessary paperwork during the field investigations undertaken by the bank or housing finance company, etc. When a borrower’s credentials don’t line up with a lender’s requirements, the home loan application gets quickly denied. The simplest strategy to avoid this type of rejection is to ensure that you qualify for a home loan by carefully reviewing the lending banks or housing loan finance company’s requirements. Consult your HFC loan counselor in detail to ensure you meet all of the conditions before completing an application. Simple verification can be a breeze if you keep the right records and give the lenders information that can be easily confirmed. It will be easier to secure a house loan interest rate if you follow these guidelines. To increase your odds of approval, you should apply for a home loan from multiple financial institutions. Comparison of Real Estate Agents vs. Online Ads There are primarily two types of resources available to consumers seeking information on house mortgages: real estate agents and web marketing. Online advertisements are more accessible than traditional real estate brokers, who give in-person advice and support for the house financing procedure. However, online advertisements may not always be honest or provide complete information when it comes to housing loans. It is at this point that the services of real estate brokers prove useful. Your real estate agent can provide you with a more realistic view of the market’s lending offerings and help you make an informed decision. Your real estate agent has likely researched and kept track of numerous financing programmes and can recommend one that is most suited to your circumstances. A real estate agent’s expertise extends far beyond only housing loans to things like down payments and the home-buying process as a whole. Which one do you think is superior? How you want to answer this question will be unique to you. Real estate agents are the best option if you value working with a person rather than a computer or robot. You may perform your study and find more reliable information by looking at online advertisements. We are unable to refund the processing charge. One of the costs associated with a home loan application is the upfront processing charge. This payment is non-refundable. Therefore, be careful when filling out your application to avoid having to pay this cost more than once. Make sure you double-check all of the papers, and if there is anything you don’t understand, see your home loans consultant. Processing costs may be levied more than once if an application is incomplete or contains errors. Read the home loan agreement’s terms and conditions thoroughly before signing. This will prevent you from being caught off guard later on. Difficulties in Legal and Technical Assessment You may rest assured that the property you’re buying has been checked out on both the legal and technical fronts. First, let’s address the legal issues. To determine if a fraudulent transaction is taking place, certified lawyers will visit your property and request several legal documents, including the property chain and property map. If these papers do reveal a questionable deal, attorneys will notify the lender of this fact when they submit their official report to the financial institution. If the lender sees such information, they will likely reject your housing loan application. On the other hand, technical verification involves making sure that the building was constructed according to the blueprints. If there is a discrepancy, the licensed engineers can lower the property’s worth, which in turn lowers the home loan amount. In rare situations, the lender may also decide to increase interest rates. Dissatisfaction with One’s Income-to-Fixed-Expense Ratio How much of your monthly take-home pay goes toward the house loan interest rate is the “fixed obligations to income ratio” (FOIR). Lenders have varying FICO standards for borrowers depending on their income. High-income borrowers may still qualify for a home loan with a house loan interest rate that is 50–60% of their take-home pay. However, those with limited financial resources should watch out that their house loan interest rate doesn’t consume more than 30% to 40% of their take-home pay. Rising home prices increase the principal owed on home loans, meaning that monthly payments will be greater and may even surpass the maximum allowed due to the increased interest. Either the home loan application would be denied or the funds would be disbursed at a lower rate than anticipated. An issue with interest rates One of the most important variables for home loan borrowers to consider is the interest rate. As a result, it may have far-reaching effects on the terms of your mortgage. Therefore, it is crucial to be informed of the various interest rates now offered. Almost every homeowner must decide whether or not to get a house loan interest rate is fixed or variable. In addition, you should talk to a financial expert so that you can learn how changes in the interest rate will affect your house loan interest rate payments and the total cost of the home loans. In this way, you’ll be able to choose the most appropriate interest rate with confidence. One further thing to remember is that interest rates change periodically. Because of this, it is crucial to monitor changes in the house loan interest rate before submitting a housing loan application. The aforementioned issues are widespread, but the borrower can simply avoid them by adhering to protocol, making adequate preparations before the application, and taking care of the right documentation. [B-02] Conclusion This article’s goal is to provide a thorough analysis of crucial considerations of the Most Common Problems One’s Facing while applying for a home loan. We are aware of how crucial some of the issues are to applicants for home loans. You can completely prevent them and make the house loan application process more straightforward by being aware of these problems and taking the appropriate steps. 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, finance-related articles.
08-11-2023
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Personal Loan

Reasons Why You Should Get Piramal Finance Pocket-Friendly EMI Personal Loan Right Away

Having a dream house or planning a foreign trip with family still seems like a dream come true for many. Saving money from personal expenditure is a tough task and no matter how much you collect, you never get a handful of it. In such cases, a personal loan can help you out with it. It can help you fulfil your dreams and help you see through things that you always wanted to. This article is all about personal loans and their benefits, Piramal Finance’s pocket-friendly EMI personal loan, and why you should go for it. [B-01] What is a Personal Loan and what is its significance? A personal loan is a financial help in which you borrow a specific amount of money from a lender and in return repay that with a rate of interest. The money you borrow from the lender is paid in the form of equated monthly instalments or EMI. The lender lets you borrow this money for a tenure and you have to repay all the amount within that tenure of repayment. A personal loan is an unsecured loan which means you do not require any collateral or a security deposit to keep as a guarantee of repayment. The lender allows you to take the loan without even asking for a guarantee. Piramal Finance is a corporation that is involved in all types of financial services including personal loans. It provides you with a loan at the best interest rate and with the best facilities. What are some of the benefits of applying for a Personal Loan? Here are some of the exclusive benefits of applying for a personal loan: Faster loan approval process: Compared to a business loan, a personal loan is approved faster, mostly within two days. Some banks even take it as a one-day affair. Since the process of approval takes minimum time and is mostly online, you don’t need to hassle much to get approved. As soon as your documents are verified, your loan gets approved within 24 hours and you are handed over the cash. Low rate of interest: Interest rates on personal loans are often less and are quite a reason why people go for them. This helps you pay your debt easily without you getting affected by your repayment amount. Mostly, the interest rates range between 9.5 percent per annum to 25 percent per annum. These interest rates are highly variable and depend on your credentials and the bank you are applying to. Ample time to repay your loan: Most of the time, banks give you a reasonable amount of time to repay your debt and get rid of it. In most cases, banks give you six to seven years to pay your debt completely. Also, this repayment schedule is on equated monthly instalments or EMI basis, which means it won’t hurt your monthly budget as well. Flexibility: Banks give you a lot of other additional perks for applying for a personal loan. One of them is the utmost flexibility in tailoring your loan type. For example, you are given a Flexi facility for your personal loan. If you apply for a Flexi facility, you will be charged interest only on the amount you borrow from the debt amount and not on the total amount. No collateral or security deposits: Since it is an unsecured form of loan, you do not require any collateral or security deposit to get approval. Higher loan amount: Banks allow you a huge loan amount, which happens to be one of the biggest advantages of taking a personal loan. The loan amount can sometimes go as high as 30 lakh rupees to 35 lakh rupees. Since you are not asked about the reason you are taking this loan and banks charge you low interest, you can count it as quite a blessing. Why should you go for a Piramal Finance pocket-friendly EMI personal loan? There are many reasons why you should opt for a Piramal Finance personal loan. No prepayment and foreclosure charges: Some banks might charge you pre-payment fees which often at times seem unfair. Piramal Finance makes sure that there are zero prepayment and foreclosure charges so that you save more than you spend. Documentation requirement is minimum: Piramal Finance doesn’t require a lot of unnecessary documents during the time of approval to prevent delaying the process. Low rate of interest on the loan: The interest rate on Piramal Finance personal loans starts from 12.99 percent per annum. Pocket-friendly EMI: Since it charges you low interest, your monthly instalments come down to a minimum and you can easily repay without worrying about your monthly expenses. Flexible repayment tenure: Piramal Finance provides you with a period of one year to five years to repay your loan amount in the form of instalments. [B-02] Conclusion A personal loan can help you live the dream which you have always wanted. At the same time, you must be well aware of the fact that this is also a form of debt, and you need to repay it. So, analyse your need for taking a personal loan and then make an informed decision. You can use a personal loan calculator to check different interest rates and loan amounts and see what suits you the best. Piramal Finance is a corporation that provides services on housing loans, personal loans, business loans, investment schemes, microfinancing, calculator services, and blogs.
08-11-2023
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Home Loan

Reasons Why You Should Go For A Home Loan Balance Transfer

Repaying a loan on time is the fundamental duty of every borrower. But sometimes the rate of interest touches the peak point and it becomes difficult to manage expenses and repay the debt at the same time. Over time if this issue of repayment is not addressed rightly, then you might get into a debt trap from which the recovery will be painful. So, a home loan balance transfer comes into the scenario which can help you get out of this situation. Transferring balance from one lender to the other can help you get better outcomes and you will easily repay your housing loan. This method is adopted by many who are not satisfied with the services of their current lender. [B-01] Well, this article is all about the balance transfer of your housing loan. In this article, you will come across the definition of a home loan balance transfer, its benefits, the reason to do it, and why you should give it a go. What is a Home Loan balance transfer and what is its purpose? As said earlier, a home loan balance transfer is a process in which you transfer your current home loan balance from your existing lender to another lender. You can do this if your current interest rate is high and the terms and conditions of the existing lender are unsuitable. Your existing lender might not provide you with desirable services for which you want to switch to a new lender. After the balance transfer of your housing loan, you longer have to pay your debt to the previous lender. You just have to clear your pending amount and start paying your new lender from fresh. The new lender will now provide you with a better interest rate and other terms and conditions which fulfil your needs. What are some of the benefits of a balance transfer of your existing House Loan? There are several benefits of a home loan balance transfer: Lower rate of interest: A simple reason could be the reduction in your current rate of interest. Your existing lender might charge you a high rate of interest which might even be more than the market rate. And to prevent that from happening you might consider changing your lender and looking for one who charges you a lower rate of interest. A simple change in your interest can cause a huge impact on the repayment numbers of your housing loan. For example, if your interest rate is 10 percent per annum and it comes down to 8 percent per annum, then the difference is 2 percent per annum. But only a 2 percent reduction in the interest rate can make a difference of thousands of rupees in your instalments. The long tenure of repayment: Your existing lender might not give you a long period to repay your debt. So, you might switch to a new lender if the new lender is providing you with a longer period. If your existing lender provides you with 15 years to repay your housing loan, your current lender might allow you up to 20 or even 30 years in some cases. Better terms and conditions: One of the important reasons why borrowers switch from an old lender to a new lender is because they want better terms and conditions. It could be high processing fees, extra charges, and penalties that you don’t think are fair. So, your search for a new lender who charges you zero to minimal processing fees, no extra charges, and lesser penalties. Better services: Another good reason for a home loan balance transfer is because of better services from a new lender. These services include regular updates on your loan status, monthly reminders, offers to lessen your loan burden, etc. Better services and genuine treatment from your new lender can be a big factor. Flexibility: Flexibility is a big factor, especially if you have the advantage to tailor your existing housing loan system. Suppose, you want to opt for quarterly instalments instead of monthly instalments. So, your new lender provides you with optimum flexibility to change your current plan to a new plan. This applies also to your tenure of repayment, where you can change your repayment period according to your suitability. Should you change your existing lender and opt for a Home Loan balance transfer? The answer to this question is subjective and depends on your current loan health. Here are some important points to consider for a home loan balance transfer. If you think these fit your case, then you should consider transferring your balance: If your interest rate is higher than the market rate and you are not comfortable paying it, you should prefer a balance transfer. If your tenure of repayment is short and you desire a longer period to repay your loan, you should consider switching to a new lender. If the current terms and conditions of the housing loan system don’t fit your requirements, you should prefer a balance transfer. If you want better choices and services, then you should go for a home loan balance transfer. If the new lender is promising better offers to lessen your housing loan burden, then you should switch to the new lender. [B-02] Conclusion A housing loan is a financial aid to help you fulfil your dream of having your own house. But factors like interest rates, terms and conditions, tenure of repayment, tailoring options, etc. can stand as obstacles. If your new lender is promising better options and outcomes, you can go for a home loan balance transfer. You should check the ratings of your new lender to ensure that your decision is well-informed. In case you like reading more about personal loans, personal finance, budget management, and different investment schemes, you must consider visiting Piramal Finance.
08-11-2023
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Business Loan

Reasons Why You Should Go For Festive Season Business Loan Offers in 2022

Festive seasons are around the corner and for small and emerging businesses, a business loan acts as a great facilitator to increase their revenue. Business loans not only give you a monetary advantage but also help you meet your customers’ demands. Still, do you want to know why to apply for a secured business loan during the festive season in 2022? Well, then keep scrolling through this article, you will get your answers in it. Looking for a genuine business loan might seem tiresome and on top of that, it is always a debate on what type of loan you should choose. Should you choose a loan based on offers or one that meets your requirements? The question requires detailed analysis which we will be doing in this article. [B-01] In this article, you will come across the definition of a business loan, the benefits of taking it, and why you should give it a go. What is a Business Loan and what is its significance? A business loan is a financial assistance you take from a lender to invest in your business venture. You borrow money from a lender and use it to buy goods and services, invest it in manufacturing units, or grow your market outlets. The lender charges you a rate of interest on the loan amount and you pay it back in small instalments within a set period. Since most business loans are unsecured, lenders don’t ask you for a security fund, a guarantor, or collateral. An online business loan will act as a great help in the festive season to meet the needs of your customers and maintain your supply of goods. What are some of the benefits of taking up a Business Loan? There are several benefits of taking up a business loan and they are: Quick approval: Most business loans are sanctioned by banks within a period of one to two days. In case you have a good credit history and a good track record of repaying loans, you can get the approval in even less time. Low rate of interest: In India, banks mostly provide you with a low rate of interest to help you focus on growing your venture. The interest rates for a secured business loan in most banks range between 15 percent per annum to 20 percent per annum. If your business comes under the medium, small, or micro category, then you can look for government schemes like the MSME loan scheme. High loan amount: This is another advantage of applying for a business loan because you can use a high loan amount to invest in your business. The loan amount can go up to as high as 50 lakhs which in some cases can even increase, depending on your credentials and the offers given by the bank. No collateral or security funds: Since this loan comes under the unsecured loan category, you neither have to show collateral nor deposit any security fee. Business entrepreneurs who have just started their journey might not have collateral or funds to deposit as a guarantee. So, this provision helps you surpass this and apply for a business loan. Hassle-free instalment payments: You always have the option to tailor your loan type in a business loan according to your suitability. For example, a Flexi facility is one such option that you can opt to make easy for you while repaying your periodic instalments. Now that we have discussed the benefits of a secured business loan, it is time for you to know the importance of applying for it during the festive season. Why should you opt for a Business Loan in the festive season in 2022? To meet consumer demands: As festival season shows up in the calendar, consumer demands increase likewise. To meet consumer demands and maintain your market you need to produce more goods and services. So, for that, you might require a huge amount of money which you can only get through an online business loan. With this amount, you can invest in all your units and get to meet your customer’s requirements. Boosting your inventory: Before the festival season comes into the scenario, a lot of your capital would have been locked up in your inventory. So, this might affect your turnover cycles and therefore impact your sales negatively. A business loan can help you to boost your inventory and at the same time promote more sales and cash flow. Investing in equipment: During the festive seasons, the quantity of equipment you possess might not produce as many goods as your market requires. So, to increase your production and improve the quality of products, you need to source new equipment, and for that, an online business loan will help you. Advertising and marketing: No doubt why big businesses invest 60 percent of their total budget in advertising and marketing their products. So, to fund your marketing and advertising, you need a lumpsum and a business loan is going to help you with it. Media management and website creation: In case you have not yet launched your website, this is the right time for you to do so. A secured business loan will give you capital to launch your website and fund your social media handles. This will bring you better insights and better reach altogether, thereby will help you to connect with more audiences. [B-02] Conclusion Business loans are of great significance to local businesses and small industries that want to scale up their sales during the festival season. A business loan will not only help you meet your business expenses but will also fund you to reach more customers and increase your market. If you are still here, it means you prefer reading articles and blogs on these topics. If so, you should visit Piramal Finance because they have plenty of content regarding personal loans, business loans, different investment schemes, etc.
08-11-2023
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