Category Archives: Money Guide

What is Personal Loan what precaution should take while taking loan

What is Personal Loan

What is Personal Loan jobisearchPersonal loan referred to as an unsecured loan, there is no security against it. Personal loans are one of many types of loans you can borrow from a bank.

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These loans are typically general purpose loans. It meets your current financial needs, as there is no security against it. It is usually taken by borrowers who are looking for quick and easy loans.

How to easily get Personal Loan

When people need money in emergency they take personal loan because personal loan get very easily. If you are thinking to take personal loan then take personal loan deliberately because personal loan has high rate interest. Take personal loan when you need money urgently otherwise choose other loan. There is many other loans which have low rate of interest, select those loan.

What are the Benefits of Personal Loan

  • Personal loans are unsecured which means the lender cannot repossess your property.
  • Personal loan obtain easily with simple documents.
  • In personal loan there is no need of guarantor.
  • If people repay the debt before the time period, the bank will not pay any penalty charges from customer.
  • There is no security need to take personal loan.

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What are the Disadvantage of Personal Loan

In personal loan rate of interest is much higher than other loans.

Personal loan interest rates are fixed.

In personal loan bank take one percent penalty on prepayment rent plus scheme.

In personal loan, bank takes minimum 1,000 rupee as processing fee.

Question and Answer Related to Personal Loan

Question1- Who can get personal loan?

Answer- Employed, self-employed and individual people can get easily personal loan.

Question2- What is personal Loan?

Answer- Personal loan is a loan who meets your current financial needs.

Question3- What are the benefits of personal loan?

Answer- Personal loans are unsecured which means the lender cannot repossess your property.

Question4- What are the disadvantage of personal loan?

Answer- In personal loan, rate of interest is much higher than other loan.

Question5- What is the interest rate for personal loans?

Answer- Interest rate for personal loan in banks currently are between 15-24 percent.

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What is Business Loan How to get Easily Business Loan

What Is Business Loan

What Is Business Loan jobisearchA business loan is a loan specifically intended for business purposes. Business loan is debt that the company is obligated to repay according to the loan’s terms and conditions.

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A business loan is similar to a personal loan, but is specifically designed for business use. Businesses require an adequate amount of capital to fund startup expenses or pay for expansions.

Features and Benefits of Business Loans

  • Business loans can help with cash flow
  • Business loan help to tide you over when times are tough by offering access to short-term finance.
  • Start-up loans can offer a big loan when you first set out running your own business,
  • Business Loan eligibility in 1 minute available online and across all branches.
  • Self-employed customers get exclusive higher loan amount in business loan.
  • In business loan no collateral, guarantor and security is required.
  • Approvals of loan process, is done by very quickly in business loan.
  • Whether you run a small business or a large company, business loans can offer a finance solution to fill a cash flow gap
  • Fund expansion plans or manage day to day expenses.

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How to easily get Business Loan

Business Plan- When you are taking loan from bank then give business plan to bank, according this bank select loan amount.

Documents- Documents are must important to take loan, so keep your all document with safely. In documents there are identity card, address proof, pan card, income tax return copy, sale tax return, bank account statement are important for taking loan. If you give some guarantor to bank then they give easily loan.

Loan Amount- When you give all documents to bank then bank decided to how much amount they give you as a loan.

Question and Answer related to Business Loan

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Question1- Who can apply for a business loan?

Answer- Any firm can apply for a business loan.

Question2What is Business loan?

Answer- Business loan is a loan specifically intended for business purposes.

Question3- What is the benefits of business loan?

Answer- Business loans can help with cash flow.

Question4- Which type of small business loan available?

Answer- Short term loan, long term loan, lines of credit and alternative financing are four types of small business loan.

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How to Apply and Easily Get Car Loan and Two Wheeler Loan

What are Car Loan and Two Wheeler Loan?

What are Car Loan and Two Wheeler Loan jobisearch.png If you want to buy a new car or two wheeler vehicle but you don’t have much money to buy a car and two wheelers then there is another way to buy a car and two wheelers vehicle.

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Bank gives loan on vehicle such as car loan and two wheeler loan. While taking car loan from bank, they give individual finance scheme offer in which they offer fixed and floating loan in various rates.

What Is Car Loan?

A Car Loan is a personal finance product where the financier provides the borrower with the funds to purchase a vehicle for personal use. The loan is secured against the vehicle, and at the end of the contract the customer retains the full title of the vehicle. When you take on a car loan to buy a car, your lender purchases the car for you and allows you to pay it back over a period of years. A Car Loan can also be known as a Consumer Loan or a Secured Car Loan.

What is Two Wheeler Loan?

Taking loan from bank to buy two wheelers is known as two wheeler loan. Maximum banks give 80 to 85 percent amount in this loan and remaining amount is pay by Customers. Some banks give offer to Customers in festival season in which interest rate and processing fee is low.

What Documents required for car and Two Wheeler Loan?

While taking loan bank ask to take with address proof, identity proof, pan card and income statement. In address proof you can take driving license, rent agreement, passport, aadhar Card and for income proof you will take bank statement and salary slip.

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What are the Benefits of Car and Two Wheeler Loan
  • In car loan and two wheelers loan, loan will get at low EMI.
  • In car loan and two wheelers loan there is low interest rate.
  • In car loan and two wheelers loan bank give longer repayment period.
  • In car loan and two wheelers loan there is faster processing of loan.
Question and Answer Related to Car and Two Wheeler Loan

Question1- How much amount given by bank for car and two wheelers?

Answer- Maximum banks gives 80 to 90 percent amount for car and 80 to 85 percent in two wheelers, remaining amount is arranged by customer himself.

Question2- How much bank charge as processing fee?

Answer- Bank takes vehicle 2 to 3-4 percent amount as processing fee.

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Question3- Which loan is better for two wheeler loan?

Answer- Fixed loan is better for two wheelers loan because in fixed loan interest rate is change every time during the period of debt.

Question4- How many years of the loan period in two wheelers?

Answer- Two wheelers loan time period is minimum 1 year to 3 years. If you take short time to pay loan then rate of interest became low.

Question5- Which scheme is offer by bank while taking car loan?

Answer- While taking car loan bank offers individual finance scheme.

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What is SWIFT code and IFSC code and different between them

What is (SWIFT)Society for Worldwide Interbank Financial Telecommunication Code

What is (SWIFT)Society for Worldwide Interbank Financial Telecommunication Code jobisearchThe full form of SWIFT is Society for Worldwide Interbank Financial Telecommunication Code.

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SWIFT code is used by the transfer between two banks branches internationally. On the other hand, both are the unique identification codes that is need to be mentioned to transfer money.

What is (IFSC) Indian Financial System Code

The full form of IFSC is Indian Financial System Code, which is a unique identification code. It used to specifically identify the bank branch to the system of money transfer. IFSC code is used the fund transfers between two banks within the geographical boundaries of India.

Difference between SEIFT code and IFSC code

  • SWIFT Code is Society for Worldwide Interbank Financial Telecommunication Code.
  • IFSC code is Indian Financial System Code.
  • SWIFT code is a globally recognized code, it used of international credit transfer. IFSC code is a unique identification code of a bank-branch it used for digital money transfer.

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  • SWIFT code is approved by the International Organization for Standardization (ISO).
  • IFSC code is approved by Reserve Bank of India (RBI).
  • Swift code is use can participate internationally for only those banks.
  • IFSC code is given to all branches of Indian Bank.
  • SWIFT code consists of 8 or 11 characters.
  • IFSC code, that consists of 11 characters.
  • In international currency transactions (SWIFT code) is very costly.
  • (IFSC code) is cheap than swift code.
  • You can find SWIFT code in the bank’s website.
  • IFSC code can be found in Bank-branch cheque book and RBI website.

Question 1. What is the full form of SWIFT code?

Answer 1. The full form of SWIFT code Society for Worldwide Interbank Financial Telecommunication Code.

Question 2. What is the full form of IFSC?

Answer 2. The full form of IFSC is Indian Financial System Code.

Question 3. What is the difference between SWIFT code and IFSC code?

Answer 3. SWIFT code is approved by the ISO and IFSC code is approved by Reserve Bank.

Question 4. What is the difference between IFSC and SWIFT code charges?

Answer 4. Swift Code fees charged is greater than IFSC code.

Question 5. How can get Swift code?

Answer 5. Swift code can be obtained from the Bank’s website or account.

Question. 6. How to get IFSC code?

Answer 6. IFSC code can be obtained from the bank branch and the website central bank.

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What is NEFT code and RTGS code and difference between them

What is NEFT (National Fund Transfer and Real time Gross Settlement)

What is NEFT (National Fund Transfer and Real time Gross Settlement jobisearchNational Electronic Funds Transfer is an Indian system of electronic money transfer in one bank to other bank.(NEFT) National Electronic Funds Transfer is an electronic payment transfer system.

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Under this Scheme, individuals can electronically fund transfer from one bank branch to any to any other bank. This system has been introduced by the RBI (Reserve Bank of India). In the field of India’s banking the funds transfer system is good for clearing.

What is (RTGS) Real Time Gross Settlement

RTGS full form is “Real Time Gross Settlement”. RTGS system is continuous (real-time) settlement of funds transfers separately on an order by order basis. There is no waiting period for it.

Differences between NEFT and RTGS

  • NEFT is types of the national electronic fund transfer system. This is operating by DNS deferred net settlement. NEFT is Settlement of bank transactions.
  • RTGS in each transaction process is continuing. This is not some kind of waiting period.
  • NEFT from any part of the country from any part of the other country to money transfer is an electronic payment process.

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  • RTGS is a real time gross settlement.
  • NEFT is a net settlement system.
  • Minimum amount of transmitted in RTGS is Rs 2 lakh rupees.
  • In NEFT has not set an amount of transactions.

Question 1. What is RTGS?

Answer 1. RTGS is real time gross settlement.

Question 2. What is NEFT?

Answer 2. NEFT is an Indian system of electronic money transfer in one bank to other bank.

Question 3. What is the difference between NEFT and RTGS?

Answer 3. NEFT operates on a deferred net Settlement and there is no waiting period in RTGS.

Question 4. In the minimum and maximum transactions amount of RTGS transactions?

Answer 4.  The minimum amount remitted through RTGS is 2 lakh rupees. There is no upper ceiling for RTGS transactions.

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What is Non-Banking Financial Company and differences between bank and NBFC

Non-Banking Financial Company and bank

Non-Banking Financial Company and bank jobisearchA (NBFC) Non-Banking Financial Company is a company registered under the Company Act, 1956. This is similar to the bank but is not a bank.

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Bank is a financial company and organization.

What is Non-Banking Financial Company

Non-Banking Financial Company the organization says be registered under the Companies Act 1956.its main work is invest to different type of shares, stock, bonds, debentures, securities, insurance, invest in chit-related duties. NBFC cannot accept demand deposits.

What is bank

Bank is a financial company the loan to deposit funds from the public. A bank is a financial organization accepts deposits and credit from the public. Banking organization is more important to all of us.

Differences between bank and Non-Banking Financial Company

  • NBFC is under the company Act. 1956. Registration is necessary from under the RBI.
  • Bank is operating of under the 1949.
  • In banks with the general public are large currency transactions.
  • NBFC cannot accept demand deposits.
  • NBFC does not invest in the construction of fixed assets.
  • Bank is completed the entire requirement both agriculture and industries field.

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  • Non-banking financial company does not part of the payment.
  •  Non-banking financial company cannot accept demand deposits.

Question 1. What is Non-banking financial Company?

Answer 1. Companies which take deposits and extend credit like a bank is called NBFC.

Question 2. What is the difference between bank and NBFC?

Answer 2. NBFC does not invest fixed assets and bank is investing both assets.

Question 3. What is bank?

Answer 3. Bank is a financial company to take money from the public works.

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Planning of child education and children future

Children education and planning of future

Children education and planning of future jobisearchToday, the cost of getting good education is increasing rapidly in the country every day. From early studies and a professional course fees are increasing rapidly every year.

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If our financial planning is not strong, then the right and the cost of education of children upset the household monthly budget.

How to financial planning of child education

The cost of getting good education is increasing rapidly in the country every day. Investment saving for children’s education should start at the right time.

How much funding will be needed in future estimates

According to the figures 10 to 12 percent annual inflation is education. Accordingly to coming years an average of 6 percent per year in the rate increases. 15 to 16 years after the date the engineering course fee is Rs 6 lakh to Rs 15 lakh will be the same.

To manage fund to better way

According to children need their funds in a better way to manage. Take three short, medium terms and long term Insert these three regular money for child education.

Choose some investment choice

Mutual fund

You can raise by a long time period.  Two to four can start SIP (Systematic Investment Plan) in mutual fund schemes.

Child ulip plan

You can select the child ulip plan for children education and secure their future.

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Public provident fund

You want to choose public provident fund from your children name. This scheme provident fund is 15 days.

Question 1. How to make children’s education and future of planning?

Answer 1. Children’s education and the planning of future should start at the right time to invest savings.

Question 2. What should take care of While financial planning for children’s education?

Answer 2. While financial planning for children’s education it must be adapted to inflation returns.

Question 3. How many divided of education fund?

Answer 3. There are divided in three parts small, medium and long period.

Question 4. Which option to invest for children education?

Answer 4. Choose to children future investment is mutual fund, ulip plan and provident fund.

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Important Of Insurance Rider and Free Look Period in Insurance Policy

What is Insurance Rider

What is Insurance Rider jobisearchA rider is additional on regulation to an essential insurance that provides additional profits to the policyholder at profitable price.

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Rider is another feature of life insurance. Riders are very easily and cheaper. We get rider to us low premium rate.

How many types of insurance rider

There are different types of rider in insurance plan.

  • Accident rider
  • Premium waver benefit rider
  • Disability rider
  • Pair benefit rider

Rider is better than to take other insurance plan

Take a rider to better than a new insurance plan because rider are very easy to get. Take accidental rider to young persons. In rider get other insurance plan benefits. Do not take three or four rider.

Why should necessary insurance rider

Rider is optional in insurance plan. Rider is other feather get life insurance plan. Rider is easily to get and get low premium price. Beneficial of get disability rider with term insurance.

What is free look period in insurance plan

Insurance borrowers get benefits of free look period. Free look period is 15 days after document if you are buying online insurance your free look period is 30 days.

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How to take benefits of free look period

Necessary to take money as much to save and increasing is important. To necessary of money increasing is properly investment. The policy document should retain the envelope until the free look period. Free look period gives refunds of insurance premiums on return.

Question 1. What is importance of insurance rider?

Answer 1.  A rider is additional on regulation to an essential insurance.

Question 2. What is free look period?

Answer 2. Free look period facility to deal with those Miss-selling cases.

Question 3. What is rider in insurance plan?

Answer 3. Rider is other features to meet with life insurance.

Question 4. How many types of rider in insurance plan?

Answer 4. There are four types of rider in insurance.

Question 5. What is the name of insurance rider?

Answer 5. Accidental rider, premium waver benefits, disability and pair benefits riders in insurance.

Question 6. Rider Insurance is cheap or expensive?

Answer 6. Insurance rider is very cheap.

Question 7. How many days are free look period?

Answer 7. Free look period is 30 days occurs.

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What is loan Against Gold-How to Apply for Loan Against Property

What are the advantages of Gold Loan

What are the advantages of Gold Loan jobisearchEvery persons want money to fulfill their need but having low money they cannot fulfill their needs but there is a solution to take money from someone else by loan.

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All banks give loan easily and people repay their loan after some time with some interest. Bank and other companies give loan with some interest or if you take money as loan by giving your assets to bank or some company then you can easily get money.

What is Loan Against Gold

A gold loan is a loan which is secured against gold ornaments. Gold loan is sanctioned by accepting the gold ornaments of the customer as pledge. A borrower pledges their gold ornaments with the lender in exchange for funds. The loan amount that is sanctioned will be based on the gold valuation which involves verification of its purity.

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What are the features and benefits  of gold loan

  • Gold loan are cheaper and can be given in minutes through banks.
  • Gold loan doesn’t demand any certificate to show your salary or income.
  • Unemployed and non-working people can take gold loan.
  • Gold loan doesn’t require many papers, only few documents such as ID proof and address proof is enough to avail this loan.
  • Gold loan is available in low interest rates.
  • Borrower can pay only interest during the entire term and at the end borrower can pay complete amount at once.
  • Gold loan processing time is very less than others loans.

What Documents are Required for Gold Loan

Identity Proof- For Identity proof you need to submit Passport, voters ID or driving license.

Address Proof- For Identity proof you need to submit electricity bill, ration card, telephone bill etc.

Signature Proof- For signature proof you need to submit your passport copy, driving license or any other document with your sign.

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Photographs- 2 passport size photographs

Question Answer related to Loan Against Gold

Question1- What is Loan Against Gold ?

Answer- It is a loan which is granted against a certain physical security of gold.

Question2- What is the advantage of gold loan?

Answer- Borrower can pay only interest during the entire term and at the end borrower can pay complete amount at once.

Question3- What documents are required for gold loan?

Answer- Identity proof, address proof, signature proof and photographs.

Question4- Write the name of some leading companies and banks offering gold?

Answer- Some of the leading companies and banks offering gold are ICICI bank, Muthoot Finance, Manappuram Gold Loan, SBI and HDFC.

Question5- How are Gold Loans different from other loans?

Answer- Gold loan is sanctioned by accepting the gold ornaments of the customer as pledge and other loan is sanctioned on the basis of source of income and repayment capacity of an applicant.

Question6- What is the rate of interest charged on gold loans?

Answer- The rate of interest is 12 percent. The interest and risk premium is applicable only for the days the money was actually utilized.

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What is Loan Against Property-How to Apply for Loan Against Property

What are the Benefits of Loan Against Property (LAP)

What are the Benefits of Loan Against Property (LAP) jobisearchIf you want money for your personal use then there are many ways to arrange money. You can arrange your money by taking loan. You can take a loan against property.

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A loan against property is one of the best ways to raise money. By taking loan from bank you can send your child for education in abroad and finance your business with taking loan or even in child wedding. Taking loan against property is a best way to raise money for personal use.

What is a Loan Against Property (LAP)

A loan against property is a loan given or disbursed again the mortgage of property. Mortgaging existing property is a great way to get a loan at low interest rates to meet your current financial needs without actually selling off the same. The loan is given as a certain percentage of the property market value. Loan against property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Rate of interest is low in LAP, it equated monthly installment is turn out cheaper. Loan eligibility is determined by the value of the property and income.

Features and Benefits of Loan Against Property (LAP)

  • Higher loan amount available for longer time at attractive rates.
  • LAP can be approved easily and quickly.
  • Residential and commercial properties accepted in LAP.
  • Loan gets at low interest rates.
  • Higher loan amount with lower EMI.
  • Funds can be used for business as well as personal needs.
  • Choose overdraft facility or EMI based loan.
  • Specially designed program for self-employed.

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What Documents are required for applying a Loan Against Property

Employed Person- Application form, identify and residence proof, salary slip, bank statements, processing fee cheque.

Self-Employed Person- Application form, identify and residence proof, education qualification certificate, proof of business existence, self and business income tax return, balance sheet, bank statements, processing fee cheque.

Question and Answer Related to Loan Against Property

Question 1- What kind of property given for loan?

Answer- You can take self-occupied or rented residential property like house or piece of land.

Question 2- What is the disadvantage of LAP?

Answer- If the borrower is not able to pay the loan fully, the bank or the financial institution can take possession of the mortgaged property.

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Question 3- What is loan against property?

Answer- It is a loan given or disbursed against the mortgage of property.

Question 4- What is the full form of LAP?

Answer- Full form of LAP is Loan against property.

Question 5- What are the features of LAP?

Answer- Higher loan amount are available for longer time at attractive rates.

Question 6- What are the benefits of loan against property?

Answer- Funds can be used for business as well as personal needs.

Question 7- What documents are required for applying LAP?

Answer- Application form, identify and residence proof, education qualification certificate, proof of business existence, self and business income tax return, balance sheet, bank statements, Salary slip, processing fee cheque.

Question 8- What are the normal interest rates for a loan against property?

Answer- The normal interest rates for a loan against property is 12% to 15.75 %.

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