If you need urgent money for financial needs such as health-related or high expenses then you get a personal loan. Most of the users prefer personal loans because they are collateral free. Which means you do not have to provide any type of asset to mortgage. But with this benefit, there is another problem for customers which is the interest rate. Because Unsecured loans attract more interest rate compared to a secured loan. And you can manage the personal loan interest rates using the EMI calculator. Read this article to know how interest rates on personal loans are managed.
Use of the EMI calculator! The easiest way to manage a loan is through a personal loan EMI calculator. Several banks in India offer this online tool to customers. With the help of this, you can generate the EMI of the loan amount. Because, it functions on a mathematical formula of [P x R x (1+R)^N]/[(1+R)^N-1]. Here in this formula, P is your borrowed amount N is the duration and R is the rate of interest. Using all this information it generates the accurate EMI which helps in setting the right repayment duration for the loan. What role does Prepayment and foreclosure play on your loan? Bank offers an option of prepayment or foreclosure to the customer so they can easily pay off the outstanding balance and save on personal loan interest rates. The burden of interest rate and loan EMIs feels heavy sometimes on the user income that is why there is an option of prepayment or foreclosure. With the help of which you can pay a pre or part pay the outstanding amount. Some banks would take a prepayment or foreclosure fee for your loans that range from 2%-4.50% of the outstanding amount. Which methods are used for loan payment? From three different types of payment methods, you can pay the personal loan EMIs that is mentioned below. Electronic Clearing Service: The payment service allows the user to pay from any of his bank account. It debits the EMI amount from your account every month, and while using ECS make sure you have enough money in the account. Otherwise, you need to pay the penalty fees for your EMI default. Standard Instruction: It is for the customers who are applying for a loan from their respective banks. Because with this feature you can make payment from your salary or saving account directly for your loan EMI. This payment method comes under the category of auto-debit and helps you make payment on time without delay or due charges. Post-dated cheque: You can also use the old method for EMI payment which is done through cheques. In this payment method, you just need to sign a dated cheque against the name of the bank from which you are borrowing a loan. Only a few of the people would prefer this method but it is still relevant for timely payment. Now, you know how much the interest rate of your personal loan matters and why is it necessary to pay the loan on time. So, whenever you apply for a personal loan from a bank, use the mentioned details to manage your persona; loan interest rate.
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The interest rate which is charged to your loan amount for home financing by Aadhar Housing Finance Limited is quite affordable. And the housing finance company helps you with 80% of the property cost. Using the loan amount whether you can renovate, construct or buy a new home. Read this article and know about the Aadhar finance home loan interest rate and its benefits during the loan period.
What are Aadhar Finance home loan interest rate features? On your loan amount, the interest rate is fixed and it is starting from 11.00% per annum which can benefit you with attractive EMI offers. The interest rate can be high if you are less eligible for the home loan from Aadhar Housing Finance. And to check your eligibility you can use online tools such as eligibility calculator. Because, with the help of the online tool, you can find out the ideal amount you are eligible for. To check the loan amount from the Aadhar Finance home loan calculator, you need to enter the desired loan duration and interest rate. After that enter your monthly income and current EMI of any other loan. If you haven’t taken a loan before, you can take advantage of a new home loan. In a new home loan, you get an Aadhar home loan subsidy benefit. Under the subsidy benefit, you can save up to INR 2.5 lakh on your borrowed amount. How should I avail subsidy on Aadhar Finance home loan interest rate payment? For the payment of the loan equated monthly installment, Aadhar Housing Finance provides a maximum duration of 20 years. And, you can manage the payment with the help of Aadhar Finance home loan calculator. But if you don’t know how you will get the Aadhar home loan subsidy benefit then first it is under the government income tax act of section 80C and 24b. It means according to the latest budget announcement you will have the option whether you want to take this feature or not. The subsidy benefits on your home loan would be reversed if you foreclose the Aadhar finance home loan after the subsidy. So, pay the loan EMI completing the loan duration using bank payment methods such as ECS or auto-debit. Otherwise, you can pay the EMI using the traditional method of pots dated cheques if you are comfortable in it. Apply for Aadhar Finance Home Loan You can get a home loan from Aadhar Housing Finance easily without any problems. As there is 24X7 customer service for the user and, you can locate the nearest branch using its online services. A few documents with which the loan proceeds are the applicant ID proof, current address details, income documents such as salary slip, bank statement or ITR report. When the documents are approved and the application is submitted then there is a small list of charges required for the sanction process. It includes a login fee that is INR 3,500 with documentation fee of INR 2,000-5,000 and property valuation or for other legal terms it charges INR 3,000-5,800. An applicable GST rate of 18% is applied to all the charges associated with the Aadhar Finance home loan. A need for a personal loan always comes uninformed. This uninformed situation demands a huge pool of funds at times. But thanks to so many lenders in our country that are willing to provide personal loans to such needy individuals. Among those lenders, Vijaya Bank is one of the leading public sector banks of India with over 1900 branches across the country. This bank offers a range of baking products to the customers but when it comes to the Vijaya Bank personal loan, it is hard for anyone to match the services of it.
Available at an affordable rate of interest of 11.40% to 16.40% per annum, this is one of the reasons why so many opt for this facility. As when anyone decides to opt for any loan facility, the first thing to look for is the interest rate as this directly impacts their repayment. And nobody wants to make a huge repayment for their loans. Among all the factors that impact your Vijaya Bank personal loan, your monthly income and credit score plays a crucial role. In this article, we will be telling you about how can these factors affect you. Importance of your Credit Score “My loan application got rejected due to my poor CIBIL score”, you must have heard this statement from someone around you. But have you ever thought about it what is the need of your credit score for getting a Vijaya Bank Personal Loan? Let me tell you first about the CIBIL score. Whenever lenders give a personal loan, which is an unsecured loan, to any borrower, the lenders face credit risk in the borrowing. To minimize that risk, lenders check the CIBIL score which gives them an idea about the creditworthiness of any individual. This score ranges from a score of 300 to 900. Lenders consider a person with a credit score of 700 or above as an ideal candidate. A persona with a high credit score has a good repayment track which makes him an ideal borrower at which lenders can trust. The importance of CIBIL score increases in a Vijaya Bank personal loan due to its unsecured nature. So, always check your credit score before applying for a personal loan. And it’s not like that you won’t get a personal loan with a poor credit score, it’s just that you will have to face some kind of difficulty in availing that. Importance of Monthly Income Apart from the applicant’s credit score, monthly income is the second most important factor while getting a Vijaya Bank personal loan. Let me tell you why? When you take any kind of loan, you have to repay it within a fixed period. And you will be repaying it from your monthly income only. So lenders check it to have an estimate about your repayment capability. Having a high monthly income could get you a higher personal loan amount as lenders can trust with the repayment part if you have sufficient income in your hand. To get a Vijaya Bank personal loan, an applicant needs to submit the latest salary slip certificates. IndusInd Bank provides credit cards to the customers for a hassle-free payment and liquidity of the funds. Because a credit card is a safer and better alternative for the payment of your daily expenses such as shopping and bill payments. You can enjoy luxurious benefits on your card, and such a card is IndusInd Aura Edge Platinum credit card. Read this article to know about the credit card features and benefits for the cardholder.
How saving becomes easier with IndusInd Aura Edge Platinum Credit Card? You must think 100 times before making any payment to the retailer during shopping. But when you use the IndusInd bank credit card, you do not have to do this, because it provides saving reward points on every INR 100 spent from the card. And 1 reward point is equal to INR 0.50, you can also get the option to convert the accumulated points into Air Miles for easy flight bookings using Intermiles or Vistara. The points can be earned on vacation and foreign trips also if you use the card for hotel booking and car rentals. You must know that you cannot get points on your card on fuel transactions. Know IndusInd Aura Edge Platinum Credit Card fees and payment method! The cardholder needs to pay a fee of INR 5,000+GST for IndusInd Aura Edge Platinum credit card. And the joining fee is the same for both IndusInd Bank customers and new customers. There is no annual fee required for the credit card usage, and for monthly bill payment of your card, you can use the auto-debit payment method. To make regular monthly payments of your IndusInd credit card, and avoid late payment charges. You must add your IndusInd aura Edge Platinum credit card to your bank NEFT, RTGS or IMPS beneficiary. With the help of these online payment methods, you can conveniently pay your credit card bills on time without delay or due payment. Just enter the 16 digit number of the credit card, your name and IFSC code of IndusInd Bank while making payment for your credit card bills. What are IndusInd Bank Safety and insurance features for the Cardholder? IndusInd Bank takes care of your transaction safety with the tap and pay feature. Just wave your IndusInd Aura Edge Platinum credit card at contactless POS machines. This feature will help you pay for the product without the need for a credit card PIN. And, if your card details are stolen and used by a person then the bank provides you full coverage up to the credit limit. Also, if the credit card is lost and stolen, and you make a report of it within 48 hours then the card is immediately blocked and provides insurance for the used credit limit. In terms of safety and insurance, the IndusIndbank is the best and offers an air accident cover of INR 25 lakh to the cardholder family members. For the report of the credit card loss, you can use IndusInd Bank 24X7 customer service. Just dial 1860 267 7777 from your mobile to block your credit card and secure form the fraudulent credit card usage. So, apply for the credit card using the net banking services or going to the nearest branch to experience its benefits. Anything can have a need for a personal loan at some point in their life. This need can vary from one person to another and it’s totally okay as one individual can live a different type of life than someone else. Different lives cause different needs. But as you know that personal loan is a kind of unsecured loan, hence lenders always double-check the applicant’s eligibility before giving the loan. Monthly income is one of the primary factors that lenders check. In this article, we will be telling you about the lenders that give a personal loan for a salary of 20000 and also those who provide personal loan for salary under 15000.
Why Lenders check Monthly Income before giving the loan? This is the most basic question people generally confused about all the time that why lenders always check the monthly income before giving the personal loan. Let me tell you as a personal loan is an unsecured loan, so the lenders always try to minimize the credit risk they face on giving the loan. When an applicant has a suitable monthly income, it generates a certain kind of trust in lenders. As the EMI for this personal loan will be going from your monthly income only, that’s why it possesses such importance. Banks that provide Personal Loan for a Salary of 20000 Personal loan for a salary of 20000 can be availed by several lenders in our country in an hassle-free manner. Some of the banks from you can take the personal loan for a salary of 20000 are HDFC Bank, ICICI Bank, Fullerton India, Axis Bank, IDBI Bank, Kotak Mahindra Bank, Tata Capital Bank, HDB Financial Services, and Allahabad Bank. All these lenders easily give personal loans to those applicants who have a monthly income of INR 20,000 but they want to get the funds so that they can manage their personal needs. And as you can see all these lenders are India’s leading lenders. You can see the name of ICICI and HDFC in the list also which is two of the top lenders in the country. Lenders that provide personal loan for salary under 15000 If an applicant has a monthly income of INR 15000 or below, then he or she feels that he can not get a personal loan due to the low monthly income. But, this is not true. Personal loan for salary under 15000 can be availed by a number of lenders such as UCO Bank, Oriental Bank of Commerce, State Bank of India (SBI), Punjab National Bank, Canara Bank, Punjab & Sind Bank, and others, You can see some of the prominent banks like SBI and PNB in the list so people with an income under INR 15000 should not be worried at all. It may happen that the personal loan amount may be a bit less, but it does not mean that you will not get a loan. You can even use the Personal Loan eligibility calculator. How to use the Personal Loan Eligibility Calculator? In order to use the personal loan eligibility calculator, you just need a few details such as date of birth, your monthly income, and any other monthly expenses. As soon as you will feed all these details into it, you will get the exact loan amount that you can get. In the current world, there are several types of credit cards in the market for different types of customers. But everyone expects different things from their cards. Somebody travels too much, so he or she wants a travel credit card that can give him a lot of rewards and offers by using the credit card. But when it comes to a credit card for reward points, it is difficult to match the services of SBI Vistara Prime credit card. As the tagline of this card suggests, that take off with credit cards and land with amazing experiences.
So if you are someone who is looking to get a credit card that can be your travel companion, then this card from SBI could be the perfect choice for you. In this article, we will be telling you about some of the amazing features of SBI Vistara Prime credit card and what is the process to apply for this card, so that you don’t have any kind of doubts remained. So without any further delay, start reading the article. Features of SBI Vistara Prime Credit Card This card is loaded with so many amazing benefits on travel, milestone benefits, joining privileges, and many more. We have mentioned all of them below. You can take a look at them. Welcome Privileges:
What is the Reward Program?
What are the Milestone Benefits?
What are the Additional Benefits?
What is the joining fees? You will have to pay a joining fee of INR 2,999 plus applicable taxes to have this SBI Vistara Prime credit card in your wallet. In our country, many people who don’t have their homes and to achieve this dream of them, lenders give them the home loan facility. But a lot of people are confused about this home loan eligibility factor. If you don’t know what this is, then let’s break it up in two parts - home loan and eligibility. A home loan is a facility through which you get the loan amount to land purchase or any other purposes related to your home. Eligibility is the condition which requires to obtain something.
So, home loan eligibility is that factor which will decide what home loan amount you will get and what are those conditions that you have to fulfill. There is this simple method to check the exact eligible home loan amount for yourself. This method is to use the home loan eligibility calculator. With this amazing tool, you can know the loan amount you can get. So, in this article, we will be telling you about this tool, how to use it, and what are those other factors that affect your home loan eligibility. So keep reading! How to use the Home Loan Eligibility Calculator? Like any other calculator, this also needs a few details to use this amazing piece of tool. The main goal of this calculator is to know the exact amount that you can get for your home loan. These details are your Date of Birth, residing city, current monthly salary, required tenure, and current EMIs or any other obligations. As soon as you will feed all these details into the calculator and hit the feed button, you will get the exact loan amount that you’re eligible at that period. What are the factors that impact your eligibility? As we told you some factors that define your home loan eligibility. You can have a look at those factors mentioned below. Monthly Income: This is the first factor that will determine your home loan amount. You will be paying your home loan EMIs from your monthly income only. And since it will be getting a sufficient portion of your income, it’s important to keep the loan amount according to that only. If you have a good enough monthly income, you will have the chance of getting a high loan amount. But there’s a catch in this! Existing Obligations: Despite a high monthly income, if you have some running obligations such as credit card EMIs or any other loans, then your loan amount can be a bit low. As you are already having liabilities, so to balance that, you will be getting a lower loan amount so that you will be able to pay the EMIs on time. Property Location and Value: This also plays an important role in defining your home loan eligibility. If the property against which you’re taking a home loan is in a good location and has a high value, then you will be automatically getting a higher loan amount. CIBIL Score: With a good credit score, the lender will be able to trust you more as you have a good repayment track. Lenders can give you a slightly higher loan amount based on your eligibility. So your CIBIL score also impacts your home loan eligibility. You can know your credit score for free from Transunion CIBIL. The best online credit bureau website for the customers is CIBIL. It provides a one-time free credit score to the user. If you have borrowed a loan or credit card before you must know how important CIBIL is. To know what is the advantage of CIBIL and how to check free credit score online, read the given article.
Find your CIBIL score in 3 easy steps! Step 1: Create your CIBIL account The first thing you need to do for a CIBIL check is to create a CIBIL account. And, you don’t need to go anywhere for it Go to the official CIBIL’s website to open a CIBIL’s account. Then enter your name, mobile number, PAN details. You can also insert your Voter ID, Driving License, Passport or Ration card number instead of PAN. Step 2: Verify the details After that, a one time password will be sent to your registered mobile number. Enter the OTP and your CIBIL account is created. After that, you can check free credit score online using CIBIL services. The credit bureau takes into account your previous loan, card or bank statements to calculate your score. And if you haven’t borrowed a loan before then the score is zero. Step 3: Payment (optional) It is an optional step and you can avail it to get the exclusive benefits of the CIBIL. The user needs to subscribe to the CIBIL plans to get advantages like CIBIL alerts, selected loan or credit card products, etc. Prices of these CIBIL plans range from INR 550 to 1,200 from 1 month to 1 year. You can select the plan according to your needs. How can CIBIL benefit your loan and credit card approval? The loan can be approved easily if your CIBIL score is high or meet the ideal score. The credit score ranges from 300-900, and 700 is considered suitable for instant approval. So, if you want to borrow a loan from your bank or any financial institution, you must check your free credit score online from the Transunion CIBIL. It helps you in getting your loan or card approved as soon as possible. Build your score to get the loan or credit card instant approval by following the below-mentioned points.
The finance minister has decided to merge 10 public sector banks into 4 to increase the bank funding. Because due to the lower Non Processing Asset (NPA) ratio, it would be easier for banks to manage their banking experience with customers. The previous bank merge in India resulted in great success and made two strong banks SBI and Bank Of Baroda. Read the given article to know the bank merger list and their profit ratio.
Look at the Bank merger list of India! PNB, OBC and United Bank: Punjab National Bank will acquire Oriental Bank Of Commerce and United Bank of India in the merger. To reduce the NPA of both the banks the Punjab National Bank becomes the 2 largest bank in India after SBI. And after the bank merge in India, a new name and logo will be introduced for the bank on the 1st April 2020. Canara and Syndicate Bank: In the bank merger list 2019 syndicate bank is included because of the bad loans and low NPA. And, in previous months the bank has covered the losses much better and NPA is INR 25,330.10 crore. So to lower the NPA the Canara Bank will acquire the bank and it is expected that the NPA will be INR 13,82,000. Union, Andhra and Corporation Bank: The Union Bank Of India helps in reducing the NPA ratio of Corporation Bank and Andhra Bank in the bank merge in India. Andhra Bank merger effective date is considered to be the 1st of April 2020 with Union and Corporation Bank. After the merger, it would be the 5th largest PSB in India. Indian and Allahabad Bank: At last the final merger would be between Allahabad and Indian Bank. And, according to the bank merger list, the amalgamation makes Indian Bank the 7th largest PSB in India. Also, the lending capacity of the banks will increase after the reduced NPA ratio. What are the advantages of a bank merge in India? The main reason behind a bank merger is to stabilize the situation of banks who are facing loss. And, the reason for the loss is mainly the lower number of net processing assets. If the banks loans are not taken by as many customers, then the government decides to merge the bank. For example, as in the previous merger, SBI has merged with its 5 subsequent banks and Bhartiya Mahila Bank that result in making SBI the Topmost PSB in India. From the bank merger list that was set in 2019, it is also expected to be the same profit as SBI has scored. According to the current analysis, it is assumed that PNB is going to the 2 largest banks after SBI from the effective bank merger. The total business of the bank after the merger would be INR 18 lakh crore and increase the profit of the bank. And the number of PSBs is reduced in India which makes it convenient for the customers to visit their nearest bank branch. As the widely spread bank branch also consolidated after the merger of banks. You must have heard of SIP while investing in any mutual funds but, do you know what its benefits are? Mirae Asset Mutual fund is a well-known asset management company and offers a variety of schemes. And every scheme has its ways of yielding returns, so before investing in Mirae Asset mutual fund schemes first set your goals. Because if you invest in the scheme without any expectations or determined goal then it is difficult to earn better returns. Read this article and know about the Mirae Asset Mutual Fund SIP online investment.
How to do a SIP in Mirae Asset Mutual Fund? The investor uses the Mirae Asset Mutual Fund SIP online services. SIP is a systematic investment plan using which you can earn better returns. But how SIP offers good returns? In SIP, investors can invest in the desired scheme in installments. And the installments can be weekly, monthly quarterly or annually. Suppose, you have invested INR 500 in Mirae Asset Focused Fund for monthly SIP then the return for 3 months would be INR 1,528.89. So if a SIP of 3 months can give you this much of return, then a long term investment will be more profitable. The return is calculated based on the Mirae Asset Mutual Fund NAV of the schemes. It is calculated from the time of investment to the end of the investment. The net asset value of the scheme fluctuates with the market rates. Then you can use the Mirae Asset Mutual fund SIP online calculator to know the expected returns from the scheme. Do Mirae Asset Mutual Fund SIP online via AMC services To start an SIP you just need to visit the AMC official website and select the desired fund. You can choose the scheme according to your risk level and investment goal. For instance, to get regular income at a low and moderate level of risks, you should do a SIP in debt and hybrid schemes. On the other hand, for long term investment and capital growth equity, equity-linked saving schemes and tax saver funds are suitable. Also, you can take the help of an advisor or marketplace to know the fund return history and current profit status. They will suggest the best scheme and make your investment easier. The new investor needs to provide KYC details and PAN number to the AMC to start an investment. Otherwise, you just need to enter your folio number and the OTP to register for the Mirae Asset mutual fund. Now, start the SIP today and build a strong investment future with Mirae Asset Mutual Fund. And know the current NAV of the schemes and their return from the online services. The AMC provides the account statement of your scheme on the registered email address. With the help of which you can know the current performance and status of the scheme. So take benefits from the Mirae Asset Mutual Fund and earn from your investments. You can also report a problem or ask a query to the AMC by providing your query and its details. The solution to your query will be sent to your registered email or a representative would come in contact and solve the issue. |
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Anika Sharma
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