What are the benefits of opting for a 3 in 1 trading account?

A 3 in 1 trading account also called a 3 in 1 Demat account. It is an account where you can buy and sell shares, you can hold shares and you can allocate and receive money. Normally, a bank account allocates and receives money while a Demat account holds shares, and a trading account is responsible for buying and selling shares. There are several reasons why you should opt for a 3 in 1 trading account as opposed to the normal 3 separate accounts.

1. Less paperwork

Opening 3 separate accounts will have significantly more paperwork and therefore, significantly more hassles as compared to the 3 in 1 trading account or the 3 in 1 Demat account. This is a great advantage and should not be overlooked because it can be overemphasized that a significant amount of paperwork has to be done with 3 separate accounts.

2. Quicker transfer of funds

This is because sometimes you will have to log into two different accounts on two different bank websites to complete the transaction. This is not the case with a 3 in 1 trading account. Therefore, please use a 3 in 1 trading account if you need to transfer funds quickly.

3. Safer transfer of funds

Using one account for the transfer of funds not only saves your time but improves your security as now there are fewer accounts to take care of and to make sure they are not hacked.

4. Lesser chances of the bank making a mistake

Even though you may say this is the banks problem, it is your loss if the funds are not transferred accurately. Therefore, you must make sure that you do make use of the 3 in 1 trading account. It is easier for the bank because your 3 in 1 trading account can be linked to your savings account.

5. Banks give advantages

Banks give several advantages to consumers who use 3 in 1 trading accounts including the fact that a diversified range of assets is available to invest in including stocks, mutual funds, bonds, debentures, and company fixed deposits. Another advantage banks give to consumers who use 3 in 1 trading accounts are that global research tools like stock comparisons are used.

These are just some of many advantages of a 3 in 1 trading account. It is crucial that you realize that you can do a lot with a 3 in 1 trading account which cannot be done with 3 separate accounts including advantages not listed in this article. Therefore, it is highly recommended to get a 3 in 1 trading account.

Facts you should be aware of with 10 second bank loans

Online personal loans are a relatively new banking scheme where you will apply for a bank loan on the internet and you will get approval for it in as little time as 10 seconds. As you can expect, there have been a lot of fears about whether this will be safe or not. Generally, it is, however, there are a few risks involved with 10 second bank loan. They include the following:

1. Higher interest rates

This is a major problem with 10-second bank loans. They tend to have an APR of about 30% to 1500% which means that you are paying about a rupee equivalent to $2 or $50 for a $100 loan which you have to pay back in 14 days. If you find higher interest rates on loans on the online site, it is probably better to just go to the bank as they will give you a better and more importantly safer deal.

2. Identity theft

There are various security features which sites give to prevent identity theft from happening. However, many people are still worried that they there are people who will be able to get through those security barriers. Therefore, it is crucial that you be as careful as possible if you are using these ten-second bank loans and if you are too worried, it will be wise to not use it.

3. Hidden risks and terms

These are something which you have to be extremely wary of. There are many terms in every bank loan you take. However, they tend to be harder to hide on paper as compared to the internet due to the various web designs. Therefore, it is crucial that you do notice as much as you can and then triple check to make sure that there is not anything you are not aware of.

4. Scams

Scams are very common on the internet. It is absolutely crucial that you are as careful as possible when you browse those sites. A useful tip is that sites have to be https to be secure as https stands for hypertext transfer protocol secured.

These are just some things you should know about bank loans, especially found online. There are many more problems with this service at the moment and as of today, it will be safer and perhaps even cheaper to just go to the bank to get loans

What are the different tax exemptions for the different loans?

Tax exemptions are very common with loans in India. This is very crucial as the tax benefit many times are the difference between actually being able to purchase a product and not being able to buy a product. You should be aware of what type of tax exemptions is available for different types of loans. They include the following:

1. Home loans

These are perhaps the biggest loans which a person takes in terms of an amount of money given. Therefore, tax exemptions are given to both the principal as well as the interest earned. For the principal, up to 1.5 lakh rupees can be deducted whereas for interest earned on the loan, up to 2 lakhs in rupees can be deducted if the construction was completed at least 3 years before the financial year the loan was issued on. However, it must be noted that if the property which the loan is given for has its ownership transferred before its completion, the tax benefits availed to the person who took the loan will be not be considered and he/she will have to pay the full amount of the tax benefits availed.

2. Education loans

Before education loans were unthinkable but now with everyone going to colleges abroad, loans of this sort have significantly increased. There is no upper limit for the money which will be deducted on this kind of loan. However, it can only be used for someone who is pursuing higher education. The loan is only subjected to tax exemptions either if the full loan period is complete or if 8 years have passed since you have taken the loan.

3. Car loans

Car loans are generally cheaper than both education and home loans. This is one of the reasons that individuals who have a salary are not allowed to take car loans in India. The only people who are allowed to take car loans are either businessmen or self-employed. There have been many complaints against this and it may be changed.

4. Personal loans

Personal loans are perhaps the smallest loan in terms of an amount of money that is in question. However, these are only available for a declared business or for interest on loan repayments used for projects such as construction.

However, taking a loan is a very complex matter so it is crucial that you do not take the loan without thinking it through or consulting someone.

Why remit 2 india is the safest way to transfer funds?

Remit 2 India is a service which is similar to Other money transfer services . What it does is it helps to transfer funds from abroad into India. There are a number of advantages of remit 2 India which is why it is gaining popularity and slowly but surely taking over the market from other similar services. Given below are the beneficial features of this service and why should you use them.

1. Minimum transaction fee

The minimum transaction fee is to transfer funds using other money transfer services is a whopping $39 US dollars. However, with remit 2 India it goes as low as $9.

2. Dollar to rupee exchange rates

As compared to other services, the dollar-rupee exchange rate favors the dollar as compared to the rupee. The opposite holds true for remit 2 India.

3. Direct deposit to your receiver’s bank in India

When transferring funds, other transfer institutes does not even send deposits directly to the receiver’s bank account in India, while with remit 2 India this is possible.

4. Doorstep deposits

Remit 2 India can deliver deposits at the doorstep of over 6000 locations across India which other money transfer services may not be able to provide. Therefore, Remit 2 India has a better network of delivery as well which may be pivotal for you as not everyone lives in urban cities like Delhi, Mumbai or Bangalore.

5. Direct debit and standing instructions in the USA

12000 banks across the United States have this facility whereas with other money transfer services there are a lot fewer banks which do this.

6. Direct credit into NRE accounts

In India, this facility is available which you cannot get with other money transfer services .

7. Amount of money sent at one time

Other money transfer services do not allow to send more than $7500 at one time which remit 2 India allows. This will help a lot of people who are sending large sums of money.

8. Rewards and referral plan benefits

Remit 2 India allows the client to access these benefits whereas Other money transfer services does not. This is crucial for many clients.

9. Free personal message with every remittance

Every remittance will allow a free personal message with it when remit 2 India is used. This is absolutely pivotal if you want to say something important.

These are just some of the benefits of remit 2 India, there are much more. While remit 2 India will be slower than other money transfer services, these benefits are much more than other money transfer services offers, therefore, remit 2 India is the safer and most probably better way to transfer money to India.