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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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How To?

How To Withdraw PF Amount Online Using UAN?

Provident fund, or PF for short, is a savings-cum-retirement program for employees of a qualifying company. After retirement, employees can rely on the fund’s corpus for their expenses. Employees must contribute 12% of their base pay to this fund each month as per the EPF rules. The company makes an equal contribution to the employee’s PF account. Every year, interest is earned on the funds in EPF accounts. When employees retire, they can withdraw their whole EPF balance. Several EPF rules related to withdrawals from PF accounts have been updated in 2022. You can withdraw funds from your EPF account without your employer’s consent. Read on to learn more about the process for making early withdrawals from an EPF account if you meet the given rules. When Can a Person Withdraw From an EPF? Full Withdrawal EPF can only be completely withdrawn in one of the following two situations: – When a person retires; When a person is jobless for more than two months. In this situation, the people need to obtain an attestation from a gazetted officer to withdraw money. If individuals change jobs before their unemployment time of two months or longer expires, they are not able to withdraw their entire EPF balance (i.e., the interim period between changing jobs). Partial Retraction Only certain conditions apply, and partial withdrawals of EPF balances need the production of documentary proof. Condition TenureLimitation of withdrawal amountWithdrawal Eligibility Construction/purchase of a houseService of 5 yrs.The withdrawal amount for constructing or purchasing a house is limited to 24 times the monthly salary for purchasing or 36 times in case of purchase and construction.Only the account holder or their spouse are eligible to apply for a withdrawal.Wedding Service for 7 yrs.50% of the total employee’s contribution with interest is the sum for withdrawal.The account holder, their blood siblings or children can apply for withdrawal.Medical emergencyNo limitation Mentioned. six times their monthly salary or employee’s Contribution with interest, whichever of the two is lower in amount.The account holder, their Spouse /parents or children can apply for withdrawal.Repaying home loanServices for 3 yrs.90% of the amount mentioned on the loan with interest can be withdrawnOnly the account holder or their spouse is allowed to apply for a withdrawalRenovation of houseService of 5 yrs.50% of the employee’s contribution with interest is approved for withdrawal.Only the account holder or their spouse can apply for a withdrawal.Higher education of self or post matriculation of childService of at least 7 yrs.Up to 50% of employees’ contributions to their EPF fund.Only the account holder can withdraw this amount. Universal Account Numbers (UANs) have been assigned by EPF and are required for all employees covered by the PF Act. The EPF account of the employee would be connected to the UAN. There is no need to submit an EPF transfer application while changing jobs. The UAN is portable for the duration of an employee’s career. Conditions for PF Account Withdrawals Based on their needs, a person can withdraw all of the PF money or only a portion of it. The person may be retired or have been jobless for longer than two months. After that, the money can be taken out while awaiting attestation from a gazetted office. On the other hand, a partial withdrawal must satisfy a number of requirements. With the exception of pre-retirement withdrawals, where the employee must be at least 54 years old, all withdrawals must meet a minimum of 5 to 7 years. An individual can withdraw money for education, land or house purchase, home loan repayments, or treating COVID-19. Steps to apply for PF withdrawal through UAN You need to sign in to the UAN Member Portal to check the status of your application. Then select the “Track Claim Status” option under “Online Services” in the drop-down menu. No reference is required in order to verify your status. On the screen, it will be seen. EPF withdrawal process online You must ensure that your UAN is active and linked to your KYC in order to submit an online PF withdrawal application (Aadhaar, bank account, and PAN). If you satisfy these rules, take the actions listed below to draw your PF balance. Visit the UAN Member Portal in step one. Use your UAN, password, and captcha to log in. Select “Claim” under the “Online Services” tab (Form-31, 19, 10C & 10D). Your information is shown on the following screen (basic details, KYC information, and other service information). The last four digits of your bank account number are required. Enter it, then select “Verify.” To sign the undertaking certificate, select “Yes.” Then select “Proceed for Online Claim” from the menu. Choose the claim you want to submit in the claim form’s “I Want To Apply For” area, such as a full EPF settlement, a partial EPF withdrawal, or a pension withdrawal. Options that a member is not eligible for will not be presented to them. For example, you won’t see the pension withdrawal service option in the menu if you are not eligible for it. Choose “PF Advance (Form 31)” in step 6 to withdraw your PF funds. Include the purpose of the advance, the necessary sum, and the address of the employee. Submit your application in the final step. For the purpose for which you have completed the form, you might be needed to send scanned copies of your supporting documentation. Following the employer’s approval of your application, you receive the requested amount in your bank account. The process of getting the balance credited to your bank account normally takes 15 to 20 days. However, in 2021, instead of the prior obligation of processing the claims within 20 days, the government permitted the Ministry of Labour and Employment to shorten the claim settlement cycle to 3 days. You can submit Form 15G to avoid tax deductions if you are withdrawing the money before five years of service and your total income is less than Rs. 2.5 lakh. How often am I allowed to withdraw my PF? The number of times you may withdraw from your PF is determined on the withdrawal’s objectives: A maximum of three times you can withdraw from PF for post-matriculation education and marriage. When buying or building a home, you can only claim it once. Before retiring, you can always claim it for medical emergencies. Its potential is limitless. How much time does a PF claim require? To resolve the PF claim or release the PF amount, it normally takes 20 days. However, the Ministry of Labour and Employment has given EPFO the ability to shorten the claim settlement cycle to 3 days thanks to the UAN. Final verdict EPF provides retirement benefits, to sum up. You may, however, partially withdraw it in some circumstances. You have two options for submitting your withdrawal application: online using the EPFO portal, or offline. You can transfer or withdraw your PF balance, settle your accrued EPF funds, or take a partial or advance withdrawal from your EPF account using the suitable EPF forms. To prevent your PF withdrawal form from being rejected, make sure you meet all the conditions for submitting the forms. For more details related to policies and applications for PF funds, get in touch with the expertise of financial consultants through Piramal Finance and to know the latest updates.
08-11-2023
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Personal Loan

Need Money For Diwali Shopping? Personal Loan And Credit Cards Can Help You Out

The festival of Diwali celebrates the victory of good over evil. Some folks even anticipate home improvement projects. Every aspect of celebrating Diwali, from buying new outfits and presents to planning family get-togethers, is drawn to the holiday like a magnet. The extra cash from a personal loan might help you stick to your Diwali spending plan and cover any unexpected costs that crop up. Here, we will learn how a credit loan, personal loan, or festive loan can help you plan your Diwali shopping. But first, here are some of the common expenses incurred during Diwali. [B-01] 1. Buying gold Acquiring gold during Dhanteras is crucial. Many Indians believe that this is a good omen. This plays a significant role in the seasonal rise in gold prices. If you want to put your money into gold, you may purchase it in the form of currency, like bars and coins, or as jewellery. The current gold prices would support taking out a personal loan around Diwali. 2. Buying vehicles Around Diwali, many individuals consider purchasing brand-new vehicles. Spending all your money on an item on a vehicle at once is not a smart choice. Take a look at the specials offered by auto parts and accessory stores during the Diwali run-up. Rather than dipping into your savings, you should immediately get a personal loan to cover your current financial obligations. You may bring your dream automobile home for Diwali by taking out a personal loan. 3. Purchasing furniture There is a widespread desire to update one’s home decor by purchasing new furnishings. Whether it’s a new washing machine, dishwasher, or smart TV, now is the time to get them all in time for Diwali. Many people make significant changes to their homes, such as painting and repairs. The abundance of accessible funds means that now is a great time to make any necessary home improvements, including repairs and furnishings. The financial stress you’ve been feeling this year might be alleviated with the help of personal loan offers for Diwali. 4. Buying Electronics Home products like air conditioners, vacuum cleaners, and digital single-lens reflex cameras may be purchased at significant discounts during Diwali sales. Since these things are costly, it makes sense to put off the purchase until you are financially sound. As Diwali approaches, you can take advantage of the holiday’s associated sales and specials. Borrow a personal loan or a festive loan before Diwali to buy all the cool tech you need. 5. To Travel for Leisure Purposes To soothe your anxious mind and body over the Diwali season, take a vacation. The time leading up to the holidays is an excellent period to book a trip. Spend Diwali with the family in a resort in the highlands or on the beach this year. Get a personal loan so you can take the vacation you’ve always wanted without worrying about finances. Top Online Loan Applications for Individuals During Diwali House enhancement Diwali is the time of year when people undertake major house improvement projects in India. It is important to us Indians that our homes look their best for this special event. However, designing or remodelling a house is a very costly endeavour. Home renovation loans are widely provided by lenders. It’s not uncommon to get a generous offer for a personal loan during Diwali. Paint your house For most of us, painting our homes is more of a necessity than a luxury. Most people wait until the last minute to paint their walls to be ready for Diwali. As a result, it becomes expensive to hire painters. Additionally, if you want a custom wall painting, expect to pay twice as much. A personal loan is always an option if you’re considering painting your walls but are worried about the cost. Once approved, the money is instantly credited to your account. Gifting Diwali is synonymous with gifting. Gifts like dresses, chocolates, or dried fruits are commonly exchanged. However, at times, you may want to gift something more expensive, such as gold or diamond jewellery. By applying for a festive loan online, you may soon have enough money to resume your shopping spree. Family Trip Travel fares soar during the period leading up to Diwali. Therefore, planning a journey back home as soon as possible is essential. If you wish to visit your family, flight or train ticket costs can set you back. However, if you have a credit card or a personal loan, you can go home without worrying about the rising fares. [B-02] In conclusion Financial planners may advise borrowers to take out a personal loan to cover their Diwali costs. Personal loans have a longer repayment duration (5 years), which helps keep monthly payments down. Use an online personal loan EMI calculator to determine your monthly payment before committing to a loan. You can also choose to apply for a credit card or a festive loan to meet your expenses. In addition, you are free to repay the loan whenever you choose, with no additional fees. No collateral is needed for a personal loan, so you may keep your valuables safe. For more information, you can head to the Piramal Finance website, and read blogs on related topics.
08-11-2023
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