HDFC is one amongst the oldest and largest non-public sector banks operational in India. It’s products have helped folks win their dream and continues to do the same. Whether it's a loan for purchasing their dream house or a loan to finance their kid’s education or credit facility to assist little businesses flourish, HDFC has invariably offered support at cheap interest rates.
To get a business from purpose A to purpose B, the necessity of finance needed is extremely high. Since HDFC is additionally a business entity, it is aware of the role of finance in accentuating the expansion of business. So as to assist you reach your required growth for your business, HDFC provides overdraft facility on your current account. For the benefit of the business house owners, the overdraft facility is obtainable with none security. Let’s get to what the overdraft facility in HDFC Bank is all about and what advantages it will bring round business house owners, also, what's the eligibility criteria to avail one. What are the Options for Overdraft Facility in HDFC Bank For Current Account? The overdraft facility in HDFC Bank for business owners is termed as is called Dropline Overdraft Facility. A number of the exciting advantages provided by this facility are as follows: No Security: Wherever different banks and NBFCs are providing bill of exchange facilities by asking the client to pledge securities to avail it, HDFC has taken a unique approach; it doesn't raise the client to submit any collateral to create use of the bill of exchange profit. Thus, no surety or security is needed to induce this commercial loan. Tenure: This facility will be availed starting from 12-48 months. You'll payback the quantity taken below this facility at your own pace inside the required amount. Overdraft Amount: The overdraft amount that you just will take against your HDFC account ranges from from INR 5 lakh to INR 15 lakh. This quantity you'll utilize to grow your business at a time once you’re out of funds and see no solacement. The amount will be a lot of facilitate to little business house owners who want capital their disposal from time to time. Rate of Interest: Overdraft facility in HDFC Bank offers extremely enticing rate of interest choices. Under this scheme, you just have to pay interest only on the amount utilized and not on the whole amount. Isn’t that sigh worthy? What is the Eligibility Criteria to avail Overdraft Facility in HDFC Bank For Current Account?
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Before we dive deep into specifically which Baroda Pioneer Mutual Fund Schemes offers high returns, first, let’s understand which type of mutual fund is growth-oriented. Equity schemes are risky instruments but they have proved in the past that the risk is worth it. So if you have a long term investment horizon, equity schemes may bring you better returns than other schemes. On the other hand, a scheme which invests primarily in debt gives you moderate returns and high liquidity options. Besides this, there are hybrid funds that invest in both equity and debt. However, their percentage may differ based on whether it is an equity oriented or debt oriented scheme. Since the question of the hour is for best returns, let’s discuss some of the equity schemes by Baroda schemes which provides good returns.
Baroda Large Cap Mutual Fund: This is one of the best Baroda Pioneer Mutual Fund Schemes, which was set up with a primary objective to generate capital appreciation by investing in a diversified portfolio of equity related securities of large cap companies. The companies that fall under 1-100 in terms of market capitalization as disclosed by AMFI (Association of Mutual Funds of India) are known as large cap companies. This scheme is managed by highly efficient managers, Mr. Sanjay Chawla and Mr. Dipak Acharya since October 1, 2016. The fund has shown phenomenal rate of return since inception. The 5 year rate of return is 7.10%. Baroda Banking and Financial Services Fund: All the people looking for capital appreciation, this fund will surely delight you. The scheme was conceived with an objective to generate long term capital appreciation for investors by investing in a portfolio of equity and equity related securities of banking and financial services sector. 80% of the portfolio consists of investment in equity. Whereas the remaining 20% is invested in debt to balance the risk factor. The fund has shown extraordinary returns in terms of rate of return. The 5 year rate of return is 12.3% (which is very good). The fund is managed by a very skillful manager, Mr. Dipak Acharya, backed by many accolades to his name in the finance sector. Baroda Equity Linked Savings Scheme, 1961: If you are looking for capital growth and at the same time want to earn tax benefits, this scheme is meant for you. This Baroda Pioneer Mutual Fund was set up with an objective to provide investors with long term capital growth and also provide tax benefit under Section 80C of the Income Tax Act, 1961. The fund has shown an upward trajectory in terms of returns. The five year CAGR on this scheme is 12.03%. How to Get Baroda Pioneer Mutual Fund Statement Online? The moment you log in to the website of Baroda Pioneer Mutual Fund. On the right hand side, you’ll see the “Get your Account Statement”. Click on that and you’ll be directed to a page, where you’ll be asked for a Folio number and the time period of the statement that you require. Just click on the download button and you’ll get to have a look at your Baroda Mutual Fund Statement Online. There is one more way to retrieve the Baroda Pioneer Mutual Fund Statement online - through the website of some financial technology companies. Note: The return data mentioned in this article is as of today. It is dynamic in nature, changes according to market movements. Disclaimer: Mutual Fund Investments are subject to market risks, kindly read all scheme related documents carefully before investing. Credit score - It’s a term that you must often hear in the conversations around you but have you ever thought about how much you exactly know about it? When you will ask about it, you will get to know that not a lot of people know what it is exactly. But worry not, because today, we will be telling you everything about the credit score and many other things related to it such as how it is calculated, what’s the importance of having a good credit score, and the CIBIL report.
What is the meaning of the Credit Score? Credit score is nothing but a 3-digit mathematical representation of your creditworthiness and financial behavior. It shows how well you handle your debt repayment. Your credit score is generated from your credit report also known as the CIBIL report. In our country, an individual’s credit score ranges from 300 to 900. This three-digit number determines your creditworthiness. Any score above 700 is considered to be a good credit score for all the lenders in India and it also shows your brilliant debt repayment behavior. 300 is the worst credit score someone can have, and 900 is the best. An individual with a low credit score is considered to be financially irresponsible and lenders usually find them untrustworthy while sanctioning the loan amount. What is the process of Credit Score Calculation in India? As we have told you before that credit score is calculated from the credit report which contains the detailed record of all your credit history such as personal details (name, address, date of birth etc), contact details, information about your employment, inquiry information, credit card information, loan account, etc. These credit reports are generally managed by credit bureaus in India of which the main four bureaus are Experian, Equifax, CRIF High Mark, and CIBIL (Credit Information Bureau of India Limited). CIBIL was the first bureau to be set in India. These all credit bureaus are approved by RBI (Reserve Bank of India) - the apex bank of India. CIBIL is the leading credit agency of India, that’s why a credit score is also popularly known as CIBIL score and a credit report is also known as CIBIL report. What is the importance of having a good credit score? A good credit score opens the door to many amazing ventures of which you can take the benefits. Here are some of those mentioned below. Easy Loan Approval and Quick Disbursal: Having a good credit score lets the lenders trust your creditworthiness and thus, the time taken in loan approval and disbursal is much lesser. Lenders know that a person with good repayment behavior will repay the loan amount responsibly, hence they take less time in loan disbursal. Lower Interest Rates: A person with a good credit score is more likely to get low-interest rates in any kind of loan facility as compared to an individual having a normal or bad credit score. The chances of an individual’s loan application being rejected are also high because of the bad credit score. To compensate for the bad credit score, the lender charges a hefty interest rate from them. Higher Borrowing Capacity: Lenders tend to lend a large amount of money to individuals with high credit scores as they are more likely to repay it back on time. You will also get exciting offers and privileges on your credit card on having a good credit score. A dream home does not come easy as it requires years of savings and discipline to make it happen one day. Apart from that, you also need to search the property that comes to your budget, as well as the lenders that can provide you the loan to buy a home. Talking of the lenders, RBL Bank is one of the top choices to make. It offers a home loan to buy, construct, renovate and extend the housing units. But what about the interest rate? Is RBL Bank Home Loan Interest Rate affordable enough? Well, you can check the same in this post.
What is RBL Bank Home Loan Interest Rate? RBL Bank Home Loan Interest Rate is now based on the RBI Repo Rate following the mandate of the central bank to link the rate to an external benchmark. The interest rate comes with a spread over the benchmark across the loan amounts. The repo rate, as of now, stands at 5.15%. Loans upto ₹25 lakh come at an interest rate of 10.30% (inclusive of 5.15% spread). On the other hand, loans above ₹25 lakh to ₹75 lakh and above ₹75 lakh come with an interest rate of 11.65% each. Both come with a spread of 6.50%. How Will the RBL Bank Home Loan Interest Rate Impact Your Repayment? The rate will have a major bearing on your repayment. It will decide greatly the monthly installment you will be paying to the lender. Greater the rate the more the EMI you will pay and vice-versa. The role of the interest rate is not limited to EMI alone. In fact, it goes on to tell you the amount of interest you’ll pay to RBL Bank over the course of a loan. You can check the RBL Bank Home Loan EMI Calculator to assess the same. Is RBL Bank the Right Choice for a Home Loan? If you speak of the interest rate, it is a bit more than what other lenders such as State Bank of India (SBI), HDFC Limited, ICICI Bank and a few more are charging. While SBI charges an interest rate of 8.15%-8.80% per annum across the loan amounts, the other two HDFC Limited and ICICI Bank charge 8.25%-9.30% and 9.20%-9.65%, respectively. So, in terms of interest rates, RBL Bank doesn’t come anywhere near to match these top lenders. Maybe the loan processing could be much faster at RBL Bank. Why Is It Necessary to Check the Interest Rate? The function of the interest rate is widely explained through the calculations made by the EMI Calculator. Besides the EMI and interest outgo, you also get to see an amortization schedule showing you the principal and interest repayment every year. What’s more, you can check the outstanding loan balance every year. All that only helps you clear off the debt before the expiry of the original tenure, relieving you from the interest burden. You need to correctly assess the investment that can help you generate the desired corpus by the time you wish to close the loan. A personal loan comes handy in those situations when you are in an emergent need for funds for varied reasons. It can be for buying the latest smart TV or for funding your child’s marriage. Various banks and financial institutions provide the personal loan facility to satiate your immediate need for funds. HDFC is one of the leading private banks that also provides the personal loan facility to needy customers at an affordable rate of interest and with flexible repayment options.
But before opting for the loan amount, you must check the EMI amount that you will be paying in order to repay the loan. But gone are those days when you had to do it manually, now with the help of HDFC personal loan EMI calculator, you can have an accurate estimate about the EMI amount within seconds. A correct estimate helps yop in managing the finances in an organized way. Also, it ensures that you won’t burn off your pocket every month while paying the hefty EMIs. In this article, we will be telling you about this amazing HDFC personal loan EMI calculator, the details that you need to have at your disposal while using it, and many other things. So read on! What are the details that you need to use the HDFC Personal Loan EMI Calculator? There are a few basic inputs that you need to have in order to use the HDFC personal loan EMI calculator like any other calculator. You can have a look at the details mentioned below. Desired Loan Amount: This is the first thing that you will have to fill in the calculator - Amount you need. HDFC provides the loan amount ranging from a minimum of INR 50,000 to a maximum of INR 40,00,000. You should fill the amount according to your needs and repayment capability. Because you need to remember that a hefty loan amount will only increase the EMI amount. So choose wisely. HDFC Personal Loan Interest Rate: This is the second and most important thing that you need to consider because your EMI amount is directly dependent on this. Higher the interest rate, the higher the EMI amount and vice-versa. Currently, HDFC personal loan interest rate ranges from 11.25% to 21.45% per annum which is pretty affordable considering the current market. Moreover, the interest rate depends on several factors such as your age, your employment stability, nature of employment, and most importantly, the CIBIL score. Loan Tenure: This the third and last thing that you need to fill in the calculator - the number of years you will need to repay the loan amount. HDFC gives the loan amount for a minimum of 1 year to a maximum of 6 years. Choose the number of years according to your repayment capability and put it in the HDFC personal loan EMI calculator. As soon as you will put these details into the calculator, it will give you the accurate EMI amount within seconds. This is the amount that you will have to pay every month to repay the loan. If it doesn’t fit your budget, you can check it by putting different values because of the endless flexibility this calculator possesses. Investment in mutual funds provide you higher returns, and you can also gain a lot of profit from it. But before investing in any of the mutual fund schemes, you must have known their policies and how much you have to invest in the plan. SBI provides you a wide range of mutual fund schemes which may invest in equity, debt and money market instruments. You check the SBI mutual fund NAV of the scheme to know its fund value. The best way to invest in SBI mutual fund is by using the systematic investment plan (SIP) method. To know about the SBI mutual fund SIP method, read this article.
Use SIP for your SBI mutual fund investments Systematic Investment Plan, also known as SIP, is a popular method for an investment in the SBI mutual fund schemes. Because, with this method, you can set a fixed amount of money to invest in your fund scheme in regular intervals - weekly, monthly, quarterly and yearly. The main objective of the SBI mutual fund SIP is to generate capital appreciation for the long term. SIP helps in creating a habit of savings, using which you can regularly save a lot of money in your SBI mutual fund investments. For your convenience in mutual fund investments, you can opt for this method and set a fixed date for your SBI mutual fund investments. The amount is debited from your bank account every month or according to your required time period to offer you higher returns. Advantages of SBI Mutual Fund SIP You are aware of the SIP and now must be wondering what more can it offer to you? So below are the mentioned benefits, you can get from the SBI mutual fund SIP. Rupee Cost averaging: Instead of a lump sum investment, you can get the benefit from rupee-cost averaging factor when you choose SIP. With an SIP, you can invest in mutual funds according to the market cycle. You can enjoy the benefit of market volatility by purchasing more fund units of the same SBI mutual fund scheme when the market is low. And you can invest in SBI mutual fund SIP less when the prices are high. Power of Compounding: Invest your every single rupee in SBI mutual fund using SIP and earn the highest return. SIP compounds your money and helps you earn more returns from your long-term SBI mutual fund investments. Check Your SBI mutual fund NAV Before Applying for it NAV is the net asset value of your mutual fund scheme which helps in determining the fund’s performance. SBI mutual fund NAV of the scheme “SBI Equity Hybrid Fund” is INR 141.36 with a one year return of 16.66% and generates a long-term capital appreciation by investing in this SBI mutual fund scheme. It invests in a mix of debt and equity instruments and provides you regular income through investing some of the assets in a fixed-income security. So, invest in SBI mutual funds and get the benefit of higher returns on your investments. And, also you can simply calculate your investment money using the SBI mutual fund SIP calculator. On the 30th of August, 2019, the Government of India announced the biggest banking reform to revive the Indian economy and make our economy a $5 Trillion economy, to merge the 10 public sector banks into 4 major banks. The Indian economy has been at a five-year low since 2014, and this merger was needed to improve the overall banking structure of India and overall capital efficiency. In this article, we will tell you everything you need to know about the banking merger list in India.
What will happen after this merged banks list in India has launched, that the newly merged banks will have a much better risk appetite after the merger in comparison to them before when they were acting as the individual bank. Now, the government will have a reduced load of recapitalization to the banks. Now, having a few numbers of banks, the government can focus on them in a much better way. What are the highlights of the Merged Bank List in India? You can have a look at some of the major highlights of the mega-merger of banks mentioned below.
What will be the benefits of the Merged Banks List in India announcement? There are a number of benefits that this merger will result in. Firstly, it will help a lot in reviving the economy. You can have a look at the other mentioned below.
Motilal Oswal is a public asset management company (AMC) that provides you a variety of mutual fund schemes. The mutual fund schemes by Motilal Oswal allocate your invested money in different instruments of equity, debt, money market, etc. depending on the type of scheme. You can track the performance of your scheme by requesting for the Motilal Oswal Mutual Fund Statement Online report. It is the service provided by the Motilal Oswal Asset Management Company Ltd. to know about the online statement service read the article.
What is the Motilal Oswal online account statement service? As you know Motilal Oswal is known for its popular mutual fund schemes like Motilal Oswal Long Term Equity Fund, Motilal Oswal Dynamic Fund, etc. And with the help of Motilal Oswal Mutual Fund Statement Online service, you can request for an account statement of your fund performance. Because using the statement, you can access the investment history of your mutual fund and track the performance of your fund with ease. Motilal Oswal’s prominent reason for offering the online statement service is to provide access to the investor. Because, sometimes new investors are not sure about the mutual fund investments and hesitate in investing their valuable money. So, to conquer this issue Motilal Oswal Asset Management Company Ltd. provides the account statement to you. On the other hand, you can also take the help of a financial advisor to understand the Motilal Oswal Mutual Fund Statement Online service. How to apply for an Account statement for Motilal Oswal mutual fund? You can easily apply for the Motilal Oswal mutual fund account statement by following the mentioned steps. Step 1: log in to your account by visiting the Motilal Oswal official website Step 2: On the page you will find the option of “Downloads” click on it Step 3: in the dropdown, you’ll see the option of “Account statement” click on it Step4: After that you will be directed to “Request for Account Statement” Step 5: then you need to enter your folio number/email id/PAN number. Step 6: choose your statement option like default statement, last financial year statement or full account statement. Step 7: At last enter the captcha code and click on the “submit” button. Trouble-free access to your fund performance with Motilal Oswal mutual fund services When you request the account statement for your Motilal Oswal mutual fund then you’ll receive the online statement on your registered email address. The file is encrypted and delivered in the form of pdf or excel. With the Motilal Oswal Mutual Fund Statement Online download service, it becomes easy to access your fund performance anytime anywhere without any hassle. So, Motilal Oswal is not only a perfect AMC for your mutual fund investment but it also provides you efficient online services. As such online service is the account statement service by which you can easily know your mutual fund current status in the market. Motilal Oswal mutual fund is for everyone so, whether you are an experienced or new investor. All in all, Motilal Oswal is the best asset management company for your mutual fund investment. To assist the needs of being a $5 Trillion Economy by the year 2025 and to empower the nationalized banks to become global players, on 30th August 2019, Finance Minister of India Nirmala Sitharaman announced the biggest banking reform that our country has seen in the last 50 years - Mega Bank Mergers. After this reform, 10 major public sector banks will be merged into to create 4 separate entities to create a better banking structure and to revive the economy.
The ten banks that have been merged are Punjab National Bank, Oriental Bank of Commerce, United Bank, Canara Bank, Syndicate Bank, Union Bank of India, Andhra Bank, Corporation Bank, Allahabad Bank, and Indian Bank. Before the bank mergers in India list wasn’t out, there were a total of 27 Public Sector Banks in our country that has reduced to a total of 12 after the merger. You’ll get to know extensively about the bank mergers in India list in this article so that you can know what’s the current position of banks that have merged and which bank has merged into which bank? To get answers to all these questions, read on! What are the highlights of Bank Mergers in India List? After the historical banks’ merger thing happened, there were only 6 Public sector banks in India that remained untouched. These are Indian Overseas Bank, Bank of Maharashtra, UCO Bank, Punjab and Sind Bank, Bank of India, and Central Bank. The first four remain untouched because of the extensive regional focus they got. According to the Finance Minister, all the banks that have merged have got a similar banking style so there will be no disruption in the functioning. The bank mergers in India list are given below where you can see the exact details of the banks that got merge with each other.
This merger will help in reducing the cost of banking operations, risk management and the overall NPAs (Non-Performing Assets) of banks. This bank mergers will help the regionally focused banks to expand their presence across India. It will also help Indian banks to achieve a greater global presence. Muthoot Finance is a leading financial company which provides you home loans to finance your house or property. It provides you home loans at an attractive interest rate of 12.50% per annum. You can determine the Equated Monthly Installment (EMI) using Muthoot Finance home loan EMI calculator. It is a simple device which calculates your loan installments in just a few seconds. Read the given article to know about the loan EMI calculator & its benefit.
What is a Home Loan EMI Calculator & how it Works? A home loan EMI calculator is a device which generates the monthly loan installments of your borrowed loan amount. It calculates the EMI of your loan amount using the formula [P*R (1+R)^n] / [(1+R)^n-1] in this equation P is your borrowed loan amount and N is your loan payment duration which is maximum up to 20 years and R is your applicable home loan interest rate. You can easily use the Muthoot Finance home loan EMI calculator by just entering your loan details. How to use the Muthoot Finance home loan EMI calculator? You just need to follow the below-mentioned steps to use the Muthoot Finance loan EMI calculator.
Then you just need to enter your loan details like your desired loan amount, interest rate and loan tenure and it will generate EMI of your desired home loan amount. Muthoot Finance home loan EMI calculator provides you an approx result of your loan EMI that provides you many benefits. Benefits of the Muthoot Finance EMI Calculator You will get several benefits when you use the Muthoot Finance EMI calculator it not only gives you the approx EMI of your loan amount but you can also manage the loan repayment schedule of your home loan. Because it provides you an amortization schedule of the home loan by which you get the important information of your loan repayment like the outstanding balance, principal loan amount and the queued up EMIs of your home loan. The Muthoot Finance also provides you Tax benefits under section 80C & 24B of the Income Tax Act (ITA) by which you can get a Tax deduction subjected to a maximum INR 2 Lacs for interest payments and up to Rs 1.5 Lacs for principal repayment. You can also share the Tax benefits with your co-borrower under certain terms and conditions. So, use the Muthoot Finance home loan EMI calculator to get these benefits by which you can easily manage your home loan without any hassle. All in all Muthoot Finance Ltd. is a suitable housing finance company to provide you home loans to finance your new house, property or renovation and extension. It provides you home loans at a floating rate of interest with easy payment options of ECS & PDC. |
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