How to pay your utility bill with this internet banking app?

Paying the bills every month is something that most people dread, but have to do nonetheless. When you think about bills, you automatically feel that you would have to sit down with lots of receipts and mark them off as you pay them. However, with the advancement of technology, you no longer need to follow such a hectic method of bill payment.
Internet banking allows you to clear off any outstanding bills from the comforts of your own home. Moreover, the introduction of internet banking apps into the smartphones has further simplified the bill payment procedure. Here is a look at how you can pay off your utility bill through such an app.

Step 1: Downloading the app and registering
Download the banking app to your smartphone and tablet. These apps are usually available in the Google Play Store for Android users and the App store for iOS users. Once the app has been downloaded, log into it with your internet banking details and the details of your bank account. Do not fret over it, there is no chance of the confidential data getting leaked.

Step 2: Get to know the app
It is important that you get comfortable with the app prior to making payments or undertaking any transactions. The best way to go about it is to explore the different options available in the app. This will allow you to appreciate exactly what you can and cannot do with the internet banking app.

Step 3: Choose the online bill payment option
Once you are familiar with the app, proceed to the bill payment option. Here you will be allowed to pay any and all kind of bills that you may have. You will need the bank details of the beneficiary, if you want to use the internet banking to clear your bills. This bill clearance does not cost you and is much simpler for you to keep track off, since all of the receipts are digital.

Step 4: Automatic bill payment
Certain utility bill amounts may be the same each month. For instance, the house rent or the cost for your television’s cable package does not vary unless you change them yourself. This is why you can set up a system through which these bills will be paid automatically by the banking app at a specified date each month. This will further simplify the bill payment process, as you would not have to remember paying these bills every time.

It is quite simple to take advantage of the bill payment options offered by internet banking apps, which is why you should embrace this new mode of payment immediately.

Mobile Banking: What are the different payments you can make?

Mobile banking is similar to internet banking and the only difference lies in the fact that one is customized for smartphones, while the normal net banking is for computers and laptops. The sudden rise in popularity of the banking apps is due to the simplicity that such programs offer. You can use the mobile banking apps to make a variety of payments ranging from utilities to credit card bills.

Here is a look at all of the payments that you can make using the mobile banking apps.

1. Utilities
Utilities refer to the payments that you need to make each month for services that you use. For instance, most people pay electricity bills, phone bills and cable bills each month. You may have to pay other bills as well. At any rate, keeping track of all these payments can become a hectic procedure.

However, with the mobile banking apps, you are allowed the opportunity to make all of these payments in a hassle free manner. You will not have to keep a record of the payments separately, as the receipts for the same transaction would be stored digitally in your app’s account.

2. Credit card bills
Using the mobile banking app to pay credit card bills can also be advantageous. Firstly, the bill can be paid off in a hassle free manner without the need of writing out a cheque. Secondly, taking advantage of the mobile banking app and using it to pay credit card bill can also get you discounts on the bill amount. This is subjective and the same offer may not be present for all banks.

3. EMI payments     
In the case that you have taken a loan, you would need to repay the same over a few months or years. You have to pay a fixed EMI every month. Since this is a fixed monthly payment, you can take advantage of the automated payment options found in most banking apps. With this option enabled, the app will automatically pay the beneficiary with the EMI amount on a specified date every month.
This will save you the trouble of having to remember making the EMI payments each month and reduce the risk of defaulting on your payments.

Essentially, you can make any payments necessary using the mobile banking system. It will make payments simpler and hassle-free. Even though you may be intimidated by the new procedure, it is simple to learn and adapt to. So, just try it out.

Banking app: Take Advantage of these features

Banking apps have become essential in today’s world. Not only do they provide a new mode of transaction and banking, but also provides added benefits. Most banks have an app for smartphones, through which customers can make payments, keep an eye on expenses, take loans or even invest in mutual funds.

Here is a look at some of the features of such apps, which you would not get from other sectors of banking.

1. Transaction from smartphone
Almost every person in the world has a smartphone these days. People keep their phones with them almost all the time and are the most accessible form of technology. This is why a banking app makes sense. Customers can sign into the app and conduct transactions from within, even if they do not have access to their computers. Similarly, people can check their accounts and expenditures on the go, which can be quite helpful in certain situations.

2. Bill payments
Mobile banking apps offer you an opportunity to clear your bills and utilities online. Bill payments every month can be hassle and difficult to keep track of. You may have to pay bills for electricity, your phone, laundry, and many others every month, and it is only natural for you to forget which ones you have already paid and which ones are still left to be cleared.

For bill payment, banking apps can be pretty useful. Not only can you track the payments made, but you can also set reminders and alerts on the app. These reminders will notify you when you are due for your payment, thus lowering the chance of defaulting on a payment.

3. Discounts and offers
Many companies offer attractive discounts to customers who opt for an online mode of payment. This is mainly because companies also prefer to keep transactions cash free. So, when you opt for an online banking app and make payments using the same, you can look forward to some exciting and impressive offers.

4. Advice regarding finance
A banking app can provide you with additional knowledge regarding the different aspect of finance. This will help you with investment and overall management of wealth. Apart from the helpful suggestions, the apps will also offer options for investment. Usually, you will be able to invest in mutual funds from within the app itself.

A mobile banking app is essential in today’s world and gives you an edge when it comes to financial matters.

Net Banking apps: Why you need one today!

Banking has evolved with the change in technology. Internet banking is one of the most important changes that have come into the banking world after the introduction of the internet. Today, customers and companies alike are making use of the online mode of payment to transact. What with the prevalence of smartphones, banks have also come up with net banking apps, which are programs designed to aid people to transact using the internet.

Here is a look at some of the advantages of the net banking app.

1. Much more convenient
Internet banking has made transactions much simpler and convenient than it was before. Previously, people needed to fill out a cheque or pay by cash. In case of a cheque, the beneficiary would need to visit a bank branch and drop the cheque to cash it in. The entire procedure was complex and involved a lot less security. With internet banking, the transactions are instantaneous and there is very little doubt regarding safety and security.

2. Specialised services 
When you download a net banking app for a particular bank and use it, you are given specialized service, such as advisors for your investment, money monitoring tools, tax services and more. The app also offers loan calculators, which can be used for a hassle free loan application procedure. These services are only found using the net banking apps and not by any other means.

3. Paying bills online
Each month, you need to pay the bills for utilities and other services. This may be quite a hassle if you are making cash payments or through cash. However, with net banking apps, you can make the payments online. This method will also let you keep a track of all the receipts for payments easily. Moreover, you can use your credit card to make the payments of bills.

4. Easy access to your accounts
With the banking application, you have easy access to your account. This means that you can simply open the app on your smartphone and get a detailed look of your bank statements and expenditures. This makes maintaining the account simpler and streamlined. At the same time, you do not have to run to the bank every time you want to deposit or withdraw money.

Almost all banks have an app related to net banking. Make sure you download your bank’s app. Link your account when you log in for the first time. From the next time, you can directly transact from within the app after you log in.

Make bill payments easy through internet banking now!

Internet banking is a very important aspect of all financial transactions today. It has not only simplified the procedure of transferring funds, but also saves a lot of time. At a time when governments across the world are pushing cashless transaction, internet banking is the best option.

Similar to all other transactions, an e-banking app will also let you pay your utilities and bills every month. However, do you know how you benefit from paying your bills online? Lets take a look at the advantages for such a transaction.

1. When you opt to pay your bills online, using internet banking, you are guaranteed a simple and safe transaction. While the conventional method of payment involves a delay from when you sign the check to the time when the beneficiary gets the money, internet banking is generally instantaneous. Even though, there is a remote chance that your transaction may get hacked, the chances of the same are so low that you should not be worried.

2. People can use their credit cards to make bill payments, when paying online. Most companies do not allow this, if you pay their bills offline. Credit card transactions are usually safer and more secure. Additionally, you can pay the bills with the credit if you do not have enough money of your own at that moment of time.

3. If you pay using the internet-banking mode, you will be encouraging cashless transactions. Even though it may not sound beneficial, you are saving paper, which is environmentally advantageous.

4. Internet banking to pay bills can help you keep track of your finances every month. Paying cash usually results in a paper receipts for payments, which have the chance of getting lost or damaged. However, for internet banking, all payment history is maintained digitally, which is why you have almost no chance of losing the receipts.

5. Some companies offer attractive discounts on the bill amount if you are paying through internet banking. This will aid you save more and pay less. Companies allow this discount, as they too desire to limit their cash transactions and encourage customers through these small discount opportunities.

Online bill payment may sound scary at first, but the procedure is much simpler than the conventional mode of payment. The advantages of online bill payments are numerous as stated above and you should opt for the internet banking for making any and all bill payments immediately, if you do not want to lose out on the benefits.

Get financial assistance for your business loan through this app!

For big businesses, availing a business loan is not particularly difficult. The tale is a bit different if it is a startup or a relatively small enterprise. For a small business, the cost of operations alone can be a hill to climb. They can however apply for a working capital loan on the basis of how old the organization is and its estimated annual turnover.

Although banks and NBFCs have been the age old option for such loans, with the digital age, everything has changed. Finance and banking have been bought to the comfort and convenience of people’s fingertips. Working capital loans or other short term loans can be easily availed by the use of an app.

The use of an app to apply for a business loan is both easy and hassle-free. With just a few simple steps, you could receive the very best of financial assistance from experts in the field of business finance.  The app would require the details of your organization such as the date of establishment, and the bank account that is used for operations. With options that cover the businesses that are only just planning to set-up to the ones that have already been established. There is something for every kind of entrepreneur. Also, the kind of industry, whether agricultural, automobiles or education are all enumerated to choose from to specify and distill the aid that might be warranted.

After which, the details that you have chosen will be computed by the business loan calculator. And on the basis of your credit score and your credit history, your eligibility will be analyzed. You will then be assigned a pre-approved loan offer. You can then customize the amount that you would like to loan. You can further tailor your EMI plan.

The app also helps businessmen manage their finances, keep an eye on their budget when they are doing business or traveling. All of this done within a matter of minutes with no third party interference or encumbrance.

Two Wheeler Loan: Easy and convenient loan application through app

So you’ve had your eye on that sleek, powerful engine displayed at the showroom window for months now. But you can’t quite afford it just yet. Owning your own vehicle is not so much as personal pride as it is about convenience. But the thought of standing in line for hours to speak to a loan officer just to go through a long and time-consuming process makes you break out in hives. You need not despair; you can bring the whole process to your fingertips. You can now own your two wheeler without any kind of hassle.

Your phone has your whole life in it.  It is what keeps you connected to everyone in your life. You can access the news, music and images from around the globe with the touch of a button.  You manage your bank accounts with your phone.  And now you can get a complete guide to assist you through the process of applying for a bike loan or a two wheeler loan. A simple app on your mobile will walk you through the whole process and make sure you can buy your dream bike.

With this app at your disposal, you can search for a new loan and get approval for it almost instantly. It would take only a couple of minutes for you to fill in your application. After which you would know your eligibility for it within seconds. You can then calculate your EMI and also amend it to the amount you are comfortable with. You can also customize your payment methods and the time period for your EMI payments. All without having to deal with inconvenience of tedious documentations. The app allows you to compare between the different choices available including the option to avail a used bike which banks or other financial institutions don’t. That is a major advantage of an app over an offline approach.

You can also manage your existing loans and pay overdue EMI’s online. This one-in-all app helps you manage other aspects of your finances as well. With tools that help you calculate your credit scores and your policy premiums.

It also provides a daily Podcast that brings you all of the important and recent investment options, stock market news, lifestyle and travel updates .It also offers exclusive deals on shopping, entertainment and restaurants and more. With a 24×7 helpline for assistance it will be a constant counselor at your disposal for all your financial needs.

Now applying for an education loan is now made easy!

Education is vital for success and progression in life. While school education is relatively easy to afford, higher education costs can be difficult for most families to bear. Higher education can be costlier if it is being pursued through a foreign university. This is why most parents need to plan ahead and opt for an education loan in order to finance their child’s studies.

With the emergence of the internet, getting such a loan has become easier than ever before. Here are a few steps to follow if you are looking for a hassle-free education loan application procedure.

1. Eligibility
Before you consider anything else, you need to determine if you are eligible for such a loan. The criteria usually differ from one lender to the next, which is why it is best to take advantage of the eligibility calculator present in the website of most of these companies. This will let you know if you are eligible and will also tell you exactly how much you can borrow.

2. How much do you need?
How much you need to borrow depends on how much you can spend out of your own pockets. So, try to determine the state of your own finances before opting for the loan. It will help you enjoy a hassle-free procedure where you will not be encouraged to get a higher loan than you really need.

3. Rate of interest for the loan  
The education loan interest rate will determine how much you would need to pay back during the tenure of the repayment. Remember that a higher EMI may be too difficult for you or your child to bear. However, do not judge a lender only by the rate of interest that it charges.

4. Consider the lender based on the course of study
Not all lenders will support every program or course of study. Select the lender only if it lends money for the course that you child has decided upon. There is no point in pinpointing one lender without checking whether that lender suits your particular needs.

5. Use the EMI calculator
The education loan interest rate can determine the EMI, which you would have to pay. However, calculating the same may prove difficult. This is why most lenders include an EMI calculator for education loan in their sites, which can aid you to pinpoint the exact EMI that would be charged, based on the principal, interest rate and tenure.
  
Ensure that your follow the tips listed above if you want to enjoy a hassle-free education loan procedure.

Enjoy applying for a gold loan with this convenient option

The popularity of gold loans is on the rise and more people are opting for the same each day. Even though the name may refer to gold, the loan is primarily availed for any personal expense. Basically, it is used for the same purpose for which you would use a personal loan. However, the competitive interest rates on offer for gold loans make them a better option in some cases.

Everything can be performed online in today’s world and loan application is no different. The easiest way to apply for a gold loan is to do it through the internet. Here are some benefits to applying for the gold loan online.

1. EMI calculator
For any loan, you need to research in order to determine the best option available to you. An online tool known as the gold loan calculator can help you understand the EMI that you would have to pay for a particular loan, even before you take the loan. This can not only help you plan your other expenses accordingly but also prevent you from taking a greater amount of loan than required.
In order to use the gold loan calculator, you would need to enter the principal amount, the rate of interest and tenure of the loan repayment. After entering these details, the calculator will find the exact EMI for the loan.

2. Online repayment
When you take a loan online, you are also offered the option of repaying the entire loan through the internet itself. This can save your precious time and also reduce the hassle involved with the repayment. In the offline procedure, you would need to draw out a check each month and pay the EMI. However, the online gold loan application can save you from such hassles.

3. Free insurance coverage  
People looking to buy gold products using the loan money can often get free insurance policies from the lender as well if they decide to apply for the loan online. This is not a constant offer, and not all lenders will offer the same feature, but in some cases, online gold loan application can come with the aforementioned benefit.

4. Saves time
If you apply for the loan through the offline procedure, you would need to visit the offices of the lender and fill out a form there. However, for the online procedure, you do not need to go out of your home. Filling out the online form and providing necessary documents are all the steps that you need to follow the gold loan application.

What are the key factors of a car loan Emi calculator?

Are you thinking of buying a car, but do not have the finances to support such a purchase? You should consider taking a simple car loan and purchasing the vehicle of your dreams. However, before taking such a loan, you should be aware of a tool known as the car loan EMI calculator.

What is an EMI calculator for car loans?

Since money lenders now prefer lending money through the online medium, most consumers take to the internet to research the kind of loans that they want. This research generally includes a comparison of the rates offered by one company against another. Making such calculation manually can be a time-consuming process. This is where the car EMI calculator can be of great help to you.

This online tool will help you determine the exact EMI payments that you would need to make for a particular car loan. You just need to fill in the details of the loan, including the principal sum, the rate of interest and tenure for the loan and the tool will give you the monthly payments that you would need to make.

Why you should take advantage of the EMI calculator
Taking a loan generally involves determining whether you would be able to pay off the monthly instalments within the tenure of the loan. Every person has certain financial capabilities, and that determines whether they are suitable for a particular loan. Here is a look at some of the advantages of the car loan EMI calculator.

1. The calculator shows you how much you need to pay each month if you were to sign up for a loan. This feature allows you to judge whether you would be able to pay the EMI each month and how much of restriction it would place on your finances..

2. The car EMI calculator can prevent you from borrowing too much. However, with the calculator, you are given a reality check about how much you can really afford to take. This helps to keep you secured in the future, without running the risk of defaulting on your loan payments.

3. Last, but not the least, when you take a car loan, you are entitled to perform extensive research. The EMI calculator will allow you to perform the research in a simplified manner, where you can just enter the details and find out the exact EMI payments.

At any rate, ensure that you do not take a car loan blindly. Go online and compare the rates offered by different lenders and find the plan that suits you the best.

Are You Aware Of The Different Types Of Bank Cards?

Bank cards are basically plastic cards that are issued by the bank against an account. These cards come equipped with a small magnetic strip of magnetic chip that are encoded with an identification code unique to that of the account holder. The cards that are directly associated with the depository account are ATM cards or debit cards. Visa and Mastercard are also bank cards and fall under the category of a credit card. If you have an account with a bank you will be given one or more cards to handle. Although there are two categories of cards; credit and debit cards, there are numerous types of cards within the sub-category of credit cards. Credit cards are more limiting and there are different credit cards that are used for different purposes. So, are you aware of all these bank cards?

Types of Cards

• Debit Cards- Debit cards are actually multipurpose as not only do they help when it comes to the withdrawal of cash but also can be used for making in-store payment. Debit cards can also be used to make online purchases.

• Standard Low APR Cards- APR stands for annual percentage rate.  This rate is the price at which the issuer of the credit card lends you money. Most basic credit cards come with the lowest most APR.

• Credit Building Card- If you are a candidate with a really bad credit score then you are better suited to the credit building type of card. These cards come with really low limits in terms of credits and very high APR’s. The basic concept of this card is to help you get steady with paying back the loan that you took from the bank. As you keep paying back the money to the concerned bank your rating will keep on increasing.

• Reward Cards- People who have a moderately decent card score can avail for reward cards. These cards are available in a number of shapes as well as sizes. The functionality of the card is as you spend money by making use of the card, you gain certain rewards. Rewards usually come in the form of earning points that can be redeemed for example when you purchase a ticket from an international flight. These are sometimes linked to a particular bank. The catch is when you use that particular bank’s credit or debit card to make the purchase of the international plane fare, you will get additional discounts.

Bank cards are extremely utilitarian and beneficial if you don’t want to keep liquid cash on you. You can withdraw money from the ATM machine with your debit card at any point of time in the day. The only thing before you take your own bank cards, ensure that you learn all about its facilities.

How can you open an online saving account?

With so many investments offering potentially great return rates, one might wonder why it is important to have a savings account. Saving money gives you peace of mind, it gives you options to choose from later in your life, and the more you save the easier it becomes to accumulate additional savings. People save money for different reasons and purposes- for emergency funds, for retirement, for down payment, for luxury and travel etc.

In comparison to traditional saving accounts, online saving accounts are characterized by higher interest rates or low fees. Many of these accounts have no minimum balance. Account holders may link their online saving accounts to their existing external bank accounts for easy transaction of funds between multiple accounts. Here we discuss the 3 easy steps on how to open an online savings account.

• Decide on a goal
The first step requires you to decide on how much money you want to save on a monthly basis. Many people deposit a certain amount of their paycheck to their account, which amounts to a large sum in the long run. You may want to automate your deposits into savings account to make savings easier. In order to automate your savings all you need to do is simply link your savings account and checking account and set up an automatic transfer. And before you know it, you may end up with a nice stash of funds to spend in case of emergencies or a big purchase!

• Choose a bank
For online saving account opening, first you need to figure out where you’d like to open it. Saving accounts allow you to earn interests on your funds but you must look out for the best terms and rates. Online banks tend to have some of the most competitive rates because they don’t have the overhead costs of maintaining traditional offline branches. Apart from considering such great rates, you must be aware of all the terms and conditions of the account you want to go for such as maintenance fees and minimum balance requirements.

• Open your account
A good online bank usually guides you through with a user-friendly process with real time assistance over phone or chat. Most online banks allow you to transfer funds from other accounts, wire money, use remote deposit capture or mail a cheque to make that first deposit. You can also view your account anytime you want from anywhere across the world if you have access to the internet.

Online saving account opening is fairly easy and time saving. In just a few clicks you can open an account that comes with competitive rates, daily compound interests, and no monthly maintenance fees for maximum earnings.

Car Loan EMI Calculator: How to get an optimum loan amount?

In case you are thinking of buying a car but do not have the finances to support such a purchase, you should consider taking a car loan and purchase your dream vehicle. However, before taking such a loan, you should be aware of an EMI calculator for car loan.

While evaluating the multiple loan offers available in the market can be very confusing, receiving reliable assistance to cut through all the numbers in order to determine how much each loan will cost you is always a benefit. A car EMI calculator helps you determine the exact EMI payments that you would need to make for a particular car loan. While applying for a car loan you have to keep in mind how much to borrow, how long you want to borrow it for, and at what price. You just need to fill in the details of the loan, including the principal sum, rate of interest and tenure for the loan and the calculator will give you the monthly payments that you would need to make. Here’s how you can get an optimum loan amount with the help of a car loan EMI calculator.

• The calculator shows you how much you need to pay every month after you sign up for a loan. It also helps you judge whether you would be able to pay the EMI each month and how much of restriction it would place on your finances.

• The car loan EMI calculator can prevent you from borrowing too much. However, with the calculator, you get a clear picture of how much you can really afford to take. This helps to keep you secured in the future, without running the risk of defaulting on your loan payments.


• Lastly, taking a car loan involves an extensive research. The EMI calculator allows you to perform the research in a simplified manner, where you can just enter the details and find out the exact EMI payments.

Before applying for a car loan make sure you’ve done your research. Compare the rates offered by different lenders online, and find the plan that suits you the best.

Are you aware of these key features of the UPI payment?

In today’s rapidly advancing world, mobile phones are being extensively used for identification on different platforms like banking, billing and e-commerce. The world has moved one step closer to becoming a cashless economy with the launch of various mobile banking services, IMPS and UPI payment options.

Developed by the National Payments Corporation of India, Unified Payments Interface (UPI) is an instant real time payment system which regulates funds between two bank accounts using your smartphone. In comparison to online bank payment which requires you to enter the account number, account type, bank name and IFSC code, UPI allows account holders across banks to transfer money through your smartphones using the unique Adhaar identity number, mobile number and virtual payment address without entering bank account details. Let’s take a look at the key features of UPI payment:

• Simplicity
Paying and receiving funds should be made as simple as possible. The accountholder should be able to transfer funds using their smartphone with just an identifier without having any other bank account details. All that needs to be done is to click on ‘to pay’ or ‘collect from’ a payment address such as your Adhaar number, mobile number or virtual payment address.

• Security
UPI offers complete security and data protection to the account holders. UPI does not reveal too much detail on banking or other personal details which could be misused. The transactions are carried out in a highly secured environment which negates any kind of risk factor.

• Availability
UPI is real time money transfer service which means using UPI you can instantly transfer funds to other accounts. You can transfer fund using UPI 24x7 even when the banks remain closed on national holidays or Sundays.

• Cost
Since your mobile phone number serves as an authentication device, use of virtual payment addresses and third party portable authentication schemes such as Adhaar allows both the issuing party and the acquiring party cost to be cut down.

The banking sector in today’s world has witnessed a conventional development through the launch of UPIs. This instant payment utility brings several banking features under one roof by connecting multiple bank accounts with a single mobile application.

Investment Plans: What Are The Key Factors To Keep In Mind?

Investment plans are a very important part when it comes to smart handling of your money. They are not only effective in terms of short-term goals but also in terms of long-term goals. They are way better than just merely saving money because when you are just saving, at the end of the day you will only have your savings money and nothing more. But when you invest your money in a good policy you get a sum assured that is inclusive of premiums. So, when you are searching for some of the best investment options in India you should look out for certain key factors. Do your research well in order to get the best of the benefits.

Key Factors for Investment Plans:

• First Consider whether you require an investment plan in the form of insurance at all. If you do not have dependents and are not planning to get married soon or are not in a stable job then you are not at a compulsion to purchase any investment plans.

• Delve deep into the prospect of what kind of cover you will actually need and also the timeline. There are a number of best investment options in India that range from simple term plans to more ambitious and complex ULIP plans. Spend some doing research either on the internet or physically visit the insurance company and talk to the people in charge.

• You need to assess yourself and your capabilities, think of how much you can afford to put in. This is a realistic situation because at the end of the day it is you who will need to pay the premiums. Do not get swayed by what people tell you at the insurance company, they will only try to market their best-selling products to you. But you need to invest in what you need and what you can.

• The most important factor when it comes to your investment plans is doing a proper and thorough research of the company you are thinking about. Read reviews and seek suggestion and feedback from your family and friends on the points of customer care and service efficiency. A high ratio of claim settlement record of a company rings good news for you. Because a company with a good track record of claim settlement speaks highly of their credibility.

• Once you have picked out your preferred company and also zeroed in on your desired investment plan read your offer documents very carefully and make a list of questions you want to ask your company before you make the final purchase. The nature of the questions should be as such that they should become deal-breakers for you.

The prospect of investing might seem daunting to you but that is not so. Once, you have are clear on your part about you need and can afford to have, the process will become much smoother for you to wade through.

Personal Loan EMI Calculator: Get the best personal loan

One of the most common form of financial loans that people go for, are personal loans. People take personal loans for a host of different reasons- marriage or education of children, family vacation and more. However, each bank offers the same loans at varying rates of interest. The tenure for the repayment of such a loan may also differ from one bank to another. These variable factors make it very difficult for a personal loan applicant to figure out the EMIs that they are likely to pay. This is where the personal loan EMI calculator comes in handy. With the help of an EMI calculator you can check exactly how much you would have to pay each month if you take a loan from a certain bank.

Evaluating the multiple loan offers available in the market can be very confusing. Receiving reliable assistance to cut through all the numbers in order to determine how much each loan will cost you, gives you an added benefit. Personal loan EMI calculator is probably the easiest way to compare various loan offers, and choose the one best suited for you. It helps you to quickly and accurately compare the different loans and decide on what the EMI would be with different lenders.

While applying for a personal loan you have to keep in mind how much to borrow, how long you want to borrow it for, and at what price. Personal loan EMI calculator offers you various loan combinations. Knowing the actual EMI amount to be paid for the various combinations proves useful. All you need to do is follow these steps:

• The first thing that you need to do is enter the principal amount or the loan amount that you would like to avail into the calculator.

• You would also have to enter the interest rate for the personal loan. In India, the personal loan interest rates vary between 10% per annum to 20% per annum.


• Enter the tenure of the loan repayment. After this has been filled in, press the calculate button to determine exactly how much interest and EMI you would have to pay for the loan. The calculator also calculates the gross repayment amount, which includes the loan principal along with the interest amount.

You can choose to input different combinations of all the three parameters to see which one suits your financial requirements the best. Once the combination is determined, you can look out for the various offers available and choose the lender who offers you the best suited loan.

Vehicle Loan: Now get your dream car stress free!

How long has it been since you’ve been planning to buy your own car? Now that you’ve finally got a financially stable life, you are ready to purchase your dream car. Well, there’s no better feeling than being able to buy a car that suits your personality, gives you comfort, and comes with an affordable price tag!
Buying a car is one of the biggest investments you’ll make. While some may prefer paying in cash, most people need a loan to pay for their purchase. As something that accrues interest as you pay back over time, it’s better to come prepared before you take out a vehicle loan. The following steps will guide you through before you apply for a loan:


• Check your credit
Your credit score determines what type of loan you’ll be able to get from the lender. Whether you’re going through a bank, an auto loan dealer, or the dealership itself, the rate will be dependent on it. Dealership financing, sometimes can appear more attractive. Deals like 0% financing and large cash back refunds which lowers the total amount of your loan, may sound like the best option. The better your credit, the cheaper it is to borrow money. With a higher credit score you’ll be sanctioned to lower interest rates, and may also qualify for lower auto insurance premiums.


• Know your budget
Having a budget and knowing how much you can afford to spend is important. You need to make sure that your loan payments fall in line with your financial goals and ability. In case you don’t have a budget, start with your monthly income after payment of taxes and monthly expenses.


• Determine how much you can afford
Analyze how long you’d like to pay off your loan. Vehicle loan terms usually come with 3-6 years. With a longer loan period the monthly payments are normally low.


• Get preapproved
After you finalize your lender, you’re required to submit your documents validating your proof of income, resident proof and identity proof. The lender may also want to check your credit score so you’re advised to keep all your loan applications within a 14 day period. Once the lender decides on your eligibility and the interest rate you qualify for, you’re ready to take out a vehicle loan. Do your research before purchasing your dream car.

Financing your new car is a great way to get the vehicle that you want without needing to sacrifice.

Convenient instant transfers: Why electronic fund transfer is your choice?

Electronic Fund Transfer (EFT) is the use of digital technology for the transfer of funds without the exchange of paper currency. The devices through which EFTs are initiated include codes and cards. They allow you and others whom you authorize access to your account. Access to your account entails withdrawals, deposits and transfers. Modes of EFT such as ATM or Debit cards require Personal Identification Numbers (PINs) while others need a scan or a signature. Radio Frequency Identification (RFID) for example scans your pertinent information without any direct contact with you.

Direct Deposit allows you to authorize deposits for specific reasons into your account. Regular deposits like paychecks, insurance benefits can be thus authorized. You can also authorize withdrawals for recurring bills like insurance premiums, electricity and other utility bills, club memberships. This will allow for them to be paid automatically every month without any hassle.

Debit Card Purchase or Payment Transactions let you pay for the merchandize you have bought using your card. Quite similar to the use of a credit card, it allows the buyer to pay for an item of purchase without the exchange of paper notes.  The only point of difference being that with a debit card, the amount of money spent must be existent in your bank account. You cannot extend credit on it.
With your commitments to your family and work in these modern hectic daily life, a trip to and from the Western Union is simply too much of a hassle. Speed and convenience are two of the major factors to consider in anything these days. With everything available at the push of a button, our banking needs have also been made accessible at our fingertips.

With no additional costs or charges attached on these services, Electronic Fund Transfer is not only a viable option; it is the one that makes the most sense. They are flexible, and entirely hassle-free. Without the inconvenience of commuting to the place of business or standing in a queue for long hours, you can take care of your banking needs from the comfort of your home.

Electronic Funds Transfer allows the transfer of funds within the country and also let you transfer funds to accounts that exist overseas. Students studying abroad, who need money for their tuition fees and other expenses in a foreign currency, receive these funds through EFT. The future is most definitely digital. We are moving further and further away from traditional modes of currency and payment. The day isn’t far when we will live in a cashless economy.

Two Wheeler loan: Get your dream vehicle in an instant

Having your own vehicle is a matter of pride and convenience. Now you can have your very own bike or scooter without any hassle due to easy availability of two wheeler loans. While some may prefer paying in cash, most people need a loan to pay for their purchase. As something that accrues interest as you pay back over time, it’s better to come prepared before you take out a two wheeler loan. With increasing demand for two wheelers, getting a loan is fairly easy. The following steps will guide you through before you apply for a loan:

• Check your eligibility
Any individual above the age of 18years is eligible for taking a loan. However, some banks may prefer their applicants to be 21 years or older. Before applying for a two wheeler loan you must be prepared with all the documents that are required for your application- an address proof which is usually demanded in the form of household utility bills, a voter’s ID or a passport. The aforementioned documents other than household utility bills also serve as your proof of identity. You would also need to submit your salary slip from the past 3 months along with the bank statement and the latest TDS certificate as your proof of income to show that you meet the minimum income criteria before borrowing a loan.

• Credit score
Your credit score determines what type of loan you’ll be able to get from the lender. The credit score of the borrowers show their repayment capacity and is given importance in determining the eligibility of the borrower.

• Select your loan amount and tenure
Interest rates on two wheeler loans vary from bank to bank and from lender to lender. Depending on the type of two -wheeler required and financial background of the applicant, loans are available in both secured and unsecured forms. In case of a secure loan which requires pledging of a security against the liability of the loan, the rate of interest is relatively low. In case of an unsecured loan which does not require pledging of the asset as collateral, the interest rates are usually higher. To make it affordable to the borrowers, banks allow a repayment tenure which usually varies between a period of 12 months to 48 months. The borrower can choose any tenure as per their convenience.

• Submit your application
After you finalize your lender, you’re required to submit your documents validating your proof of income, resident proof and identity proof. Once the lender decides on your eligibility and the interest rate you qualify for, you’re ready to take out a two wheeler loan.

With such easy availability of loans, getting a two wheeler of your own is the most convenient way to travel around.

Remitting to India: The key to money transfers

According to the surveys conducted by the Reserve Bank of India, remittance, that is transfer of funds happen mostly from US and the maximum transfers that occur are of a personal nature, that is, they are used to maintain a family. One of the major modes of money transfer from the overseas is SWIFT or electronic/wire transfer.

You might be one of those who remit to India occasionally to support your family. To make the process seamless and error-free you need to follow these few tips that we are going to discuss today. With these tips you can remit to India without any hassle.

Online and offline options: If you are looking into online options you are looking into e-transfers and power transfers. On the other hand offline transfer includes cheques and bank drafts. It is not a question of which option is better; you should concentrate more on the security issues. The first and the foremost thing that you should do is check the list of banks with which the bank from where you are sending the remittance has collaborated with. Go ahead with the further procedures only if the bank to which you will be sending the money is a trustworthy institution.

If you are sending money to India, chances are you will have to stick to offline procedures. Check the RBI guidelines before you remit to India.

Online money transfer: In case you wish to send money to your dear ones within a short notice period, you have no option left other than opting for online procedure. You can use modes such as wire transfer. Your beneficiary receives the money within 24 hours. At the max it takes 96 hours, unlike offline money transfer which takes 7 to 15 days. This is an instant process. There are correspondent banks in the overseas that will assist you in disbursing this process.

Choose a mode that you can afford: A wire money transfer is obviously costlier than a draft or a cheque though the former takes lesser amount of time. You need to decide before you remit to Indiawhether you should give due diligence to speed and drill a hole in your pocket. If there is an emergency to meet with you have no option. But this is one downside of online money transfer.

Foreign Currency Account Banks Scheme: Most of the banks in India cover major currencies like Dollar, Euro, Pound, and Sterling and accept remittance of these currencies. However, to avoid any kind of difficulties it is better to have a foreign currency bank account, which allows uninterrupted flow. This scheme can be used to easily convert currencies like Australian Dollar, HK dollar, dinar, yen, deutsche mark etc.

Wealth Management 101: Why starting early is the key to a healthy investment

Your early twenties are the most memorable years of your life and also are the most crucial ones. Especially when it comes to money.  For most 20-somethings with a steady job and economic stability, managing their finances is one of the biggest hurdles that they have to overcome. With the bad habits of both procrastination and ignorance, quite often people don’t pay attention to their wealth management till they are in their 30’s.


Do Not Drain Your Cash:
For much of the younger generation, the fear of missing out is a very real thing. And this fear drives a lot of them to spend money that they do not have just to be able to keep up appearances. Racking up debts over the student-loan debts that they are already buried under. Putting off responsibilities like investing to the future or deeming saving as “boring”, they wait far too long. Being debt-free is a big part of being financially independent. Learn to live on a budget and once you have done it for 3-4 months you will come to the realization that your expenses can very simply be divided into three categories:a) Essential b) Discretionary and c) Entertainment. The goal should be to reduce the spending on entertainment and to exercise more discretion. You should also have a sum of money set aside for emergencies.


Do Not Be Intimidated:
The thought of investing in stocks makes a lot of young people quite nervous. They do not make an effort until they are much older and that leads to investment choices that are faulty, resulting in portfolios that are flawed and economic insecurity in the later years of life. You can opt for an SIP(Systematic Investment Plan) that will let you invest a fixed amount each month in a mutual fund, typically an equity mutual fund scheme. A target date mutual fund is also a good option. Much like the name suggests, you invest until a certain year in a combination of stocks and bonds. You need not be a whiz at finance to consider investments. Keep it simple and watch your money increase.


Be Patient:
When you are young you have the luxury of time and when it comes to wealth management, time is most definitely on your side. The interest that you will incur on the amount of money you have invested will be compounded over the years and you can then reap the benefits of it. As much as you want to use what expendable income you have on luxuries and amusement, in the long run it will only harm you and your bank balance.


You have worked hard for the money that you have earned. You need to be smart about how you manage it. Start young when you can afford to be aggressive with your investments. You need not be afraid of the future when you can craft it yourself.

What are the perks of credit card you can take advantage of?

We live in a world where credit cards come in handy to make payments and keep record of our purchases. Issued mostly by banks, credit cards offer money or credit which need to be repaid within an estimated period.

When we think of the benefits or perks of using a credit card, we mostly think of rewards and low-interest rates. But apart from these, the best credit cards come with additional benefits which many of us may not be aware of. Taking advantage of these perks can help you get more out of your credit card and also save you some money in this process!

• Price protection
Often it happens that you purchase an item at a given price and see its price go down in the next few days. Don’t you feel cheated? Well, if you used your credit card for purchasing the item, you would be able to get the price difference refunded through your credit card’s price protection benefit.

• Purchase protection
What if you purchase an item and later have it damaged or stolen? In case of such a situation you would be eligible for a purchase protection policy if you bought the item with your credit card. All you need to do is provide a receipt and the credit card statement showing records of the purchase. In case of a theft, you’ll be required to show a police report.

• Car rental insurance
Best credit card networks provide car rental insurance for which you must charge the entire expense of the rental to your credit card. You must decline the rental company’s loss damage waiver/ collision damage waiver in order for your credit card company to agree to cover you.

• EMIs
If you’re making a big purchase, like a TV, laptop or refrigerator, you can easily convert it to affordable monthly installments in the form of EMIs.

• Cash back and bonuses
While reward cards earn you points for spending money on certain things, cash back cards pay the money back into your account. These cards help you save money depending on your monthly expenses, and amount refunded is based on the credit card’s cash back rate. Many credit cards offer lucrative bonuses for signing up with them, such as large amount of bonus points, complimentary flights, lower fees and reduced interest rates.

• Grace period
You can use your credit card to defer your payments till your bills are due. Contacting the credit card company and asking to change your billing cycle date could buy you another week before interest is charged. Banks usually offer a maximum of 50 days grace period for paying the dues.

In today’s world easy availability of credit card is a boon. If you pay your bills on time, they’re actually a free short term loan.

What are the reasons you would need international travel insurance?

Most people plan their holidays with much anticipation and enthusiasm. Be it for the purpose of leisure or for work, people travelling by air are very common these days. But what about the uncertainties that life brings upon you? Insuring your trip in case of an unforeseen event is probably one of the best ways to make sure that your holidays aren’t ruined by expensive emergencies bills or sudden expenses.

International travel insurance policy offers coverage to medical and financial emergencies that may arise when travelling abroad. While your date of journey remains fixed, accidents and mishaps may not be.

Here are a few reasons why you would need to invest your money in buying a good international travel insurance policy.

• Support in medical emergencies
Your health insurance policy won’t cover you in a foreign country if you encounter a medical emergency that requires hospitalization or immediate medical attention. International travel insurance covers these eventualities.

• Coverage in remote areas
If you suffer an accident or sudden illness in a remote area where there are no medical facilities available, or the expense of being admitted to the hospital is quite high, the international travel insurance comes in handy because it covers all your expenses.

• Reclamation of cancelled and rescheduled flight fees
If your flight gets cancelled or delayed due to bad weather conditions or technical issues, or if you miss your connecting flight because of a strike or some other reason, your international travel insurance can compensate by covering these expenses so that you won’t go over budget before you set off on your journey.

• Stress free accommodation
If you fall sick or get injured while holidaying at your favorite destination, the international travel insurance policy can recompense you for any emergency accommodation until you’re able to fly again.

• Stress free car hire
If you hire a car and get involved in an accident, it may cost you more than what you’d expected and could ruin your entire trip. International travel insurance takes care of these unexpected expenses.

• Replacement of stolen or lost luggage
In case you lose your luggage or have them stolen, this international travel insurance policy helps you deal with expenses such as paying for replacement of your passport or buying new clothes.

• Coverage for the whole family
International travel insurance policy provides coverage to your entire family- dependent children travelling with adults, children up to the age of 21 years, spouses and elderly people. If you’re involved in an accident where you find yourself legally responsible for someone else’s injury or damage to their property, the insurance can cover you up to the amount specified under your plan.

Smart people protect themselves and their families with travel insurance because it is useful in terms of a wide a range of unforeseen events like medical emergencies, flight cancellations, emergency accommodation and vehicle accidents.

Loans for professionals and why you need one today

No collateral loans are those that do not require the borrower to deposit a security with the bank. In case of collateral loans the asset which the borrower deposits with the bank works as security. In case the borrower fails to repay the loan within the tenure, the bank or lender takes possession of the asset.
Professional loans do not require the borrower to deposit a security with the bank. A professional loan can prove to be a great boon to self-employed or practicing professionals like doctors, journalists, engineers, architects, lawyers etc. Here is how a professional loan can help you:

• You can use it to expand your business
• You can use the loan to make foreign trips pertaining to your work
• You can use the loan to buy new apparatuses for your business.
• Professional loans can also be very useful if you want to renovate your office or expand it. 

Professional loans can be easily availed by anyone belonging to any profession. You will be able to get a loan for professionals if you have two years of trading experience, if you are a licensed practitioner and if you are between 21 to 65 years old. You simply need to provide documents like PAN/Aadhar card, ID proof, address proof as per the guidelines of the bank and you can get professional loan hassle-free.

You need to get a professional loan over other types of loans because of the following reasons:

Credit protect insurance plan: Many banks offer a credit protect insurance plan along with a professional loan. Here you simply need to pay a nominal premium and your loan gets covered. In other words, if you unfortunately pass away within the loan tenure, you do not leave your family stranded and indebted, at least financially. The premium that you paid in the beginning would be used to pay off a significant part of the loan.
Flexible tenure: Professional loan is a good option because it allows flexible tenure, which lasts from 12 to 60 months.

Reasonable interest rates: If you modify your current loan into a professional one, you get to reap the benefits of interest rates as low as 12.99%.

It is easy: You can get up to 50 lakhs INR on a professional loan, depending on your credit history, the success of your business etc. And, you can use this money to give your business that extra boost that it requires.

Bank Loan: Do you really need a bank loan?

Money plays a vital role in shaping our lives, turning our dreams into reality. While some may be capable of achieving their goal without having to make any sacrifice, others may find it difficult to walk the path due to lack of finances or a stable financial background. However, one quick solution that bridges the gap between what we want and what we get in life is opting for a personal loan from the bank.
Bank loans in India account for a major portion of all loans taken, mainly on account of the ease of availability and flexible options provided. Let’s take a look at the various needs that would urge you to take a bank loan.

• Medical emergency
Life never goes according to our plans. We never wish for medical emergencies to cross our path but they are inevitable. A health insurance may be helpful in dealing with such situations but may not cover the additional expenses. Or in case you do not have a health insurance policy, the best alternative to meet the crisis is to opt for a bank loan. The money you borrow from the bank can be used for a medical surgery, hospital bills and healthcare facilities.

• Wedding ceremony
Weddings are expensive affairs, but you certainly do not want to miss out on anything that may ruin your big day! Most people start saving up for their wedding for a prolonged period, but here’s what you can do instead. Availing a bank loan can offer a quick and simple solution, and ensure that everything is done smoothly during the wedding. Banks usually provide such loans depending on the income of the borrower, and sanction loans up to Rs.25 lakh in certain cases.

• Higher studies/ education
Opting for higher education through courses is expensive, with quality education coming at a premium rate that is often beyond the reach of many people. Bank loans are usually offered for the purpose of higher education where the amount of loan and the interest vary from one bank to another.

• Home renovation or personal purchase
Bank loans can also be sanctioned for your personal purchase or home amenities. If you wish to renovate your home and interiors or purchase a new house, banks offer their customers home loans.

Bank loans are easily available for those who need it, keeping in mind that the money has to be repaid with interest after the tenure in monthly installments.

Forex Services: 3 factors you need to be aware of

Forex is the short term for foreign exchange services that can help you convert your foreign income into the domestic currency. For instance, if you have a lot of US Dollars in hand in India, you can take advantage of the forex services to get them converted to INR. However, the forex services rely on a lot of factors.
If you use forex services frequently, you should be aware of the factors that can positively or negatively impact the rates that you get from such an exchange.

1. Inflation rates
The inflation rate determines the price of a country’s currency. A country where the inflation rates are consistently low will be wealthier and have a higher priced currency. However, a country that suffers from high inflation rates will have a currency that is worth much lesser. For instance, the inflation rate of US is lower than that of India, which is why a dollar is worth more than a Rupee. This is an important factor is all foreign exchange services.

2. Interest rates
Any change in the interest rates will affect the inflation rates of the nation, which in turn will determine the forex rates that a service offers to clients. When the rate of interest increases, the country will be able to extract greater amounts of foreign currency through trader and debt payments. Therefore, with increase in interest rates, the value of the currency of that country will also go up.

3. Balance of payments
The value of a currency and hence all forex services also depend on the balance of payments maintained by the nations. For instance, if the cost of imports exceeds the profit from exports, the country’s currency will likely depreciate. However, the opposite happens if the gain from the exports outweighs the cost of the imports. This can have a serious impact on the forex.

Aside from the factors affecting the rates, you should also keep in mind certain factors that you need to consider prior to selecting an exchange service.

• Firstly, consider the fee that the company offering the exchange charges for each transaction. For some, this charge may be less, while for others the charge may be higher.

• Check the review for the service online and see what past customers have to say about the company. Pick a service that is fast and reliable, so that there is very little delay in the exchange.

Effective Fund transfer: 5 tricks to keep in mind

There was a time when transferring funds from one place to another required a lot of time, resources and good amount of cost. But due to the global markets working seamlessly, money transfers have taken a new shape in our lives.

With the help of Electronic Funds Transfer (EFT) services money is transferred from one bank account to another either within a single financial institution or across multiple financial institutions through computer based operation without any direct intervention of bank staff. Here are a few tricks you need to keep in mind when talking about effective fund transfer services:

• How to transfer
Online transfer options usually include e-transfers and power transfers while the most common offline transfer options involve cheques and bank drafts. If you’re remitting money across international boundaries, make sure your bank has listed its correspondent banks while opting for offline mode. When it comes to sending money abroad, quite a few online options do not fit the bill as per RBI guidelines.

• Speed of disbursement
Online fund transfer option is more appropriate at the time of an emergency. While NEFT usually takes 24-36 hours to transfer money, IMPS transfer money in real time. Offline transfer mode, on the other hand, takes time. If the cheque is issued in a foreign currency, there can be a delay of 7-15 days since the bank would have to verify the deposit before the holder can lay his hands on the money.

• Coverage offered
All fund transfer options may not be available at every location. While the offline mode of transfer is available at bank branches, online mode is available mostly in urban places. While transferring funds from one country to another, you have to check with the currency- if your bank offers coverage to the currency you want.

• Cost of service
There is an inverse relationship between the transfer speed and the cost associated with it. According to a RBI survey, SWIFT which is an international wire transfer system, is more expensive than drafts and cheques. This is simply because they offer more specialized services and have better access to people.

• Convenience
Apart from speed and cost of fund transfer, the factor that matters while transferring money is the convenience. If either the parties is not comfortable using online transfer modes, offline method is a better choice.

These tips will surely guide you through while choosing the most effective fund transfer methods.

How to plan your NRI savings

With so many investments offering potentially great return rates, one might wonder why it is important to have a savings account. Saving money gives you peace of mind, it gives you options to choose from later in your life, and the more you save the easier it becomes to accumulate additional savings. People save money for different reasons and purposes- for emergency funds, for retirement, for down payment, for luxury and travel etc.

Although Non-Residential Indians (NRIs) are allowed to open and hold savings account in India, these accounts are not the same that is offered to a residential Indian. Before you put your money in a saving account, you need to understand and decide on which type of NRI account you want to go with. There are two types of NRI accounts that one can take advantage of if they want to maintain a bank account in the country- NRE account and NRO account.

• NRE or Non-Resident External Rupee account allows NRIs the ability to open a simple savings account. However, the balance is maintained in the Indian currency only. Even if a deposit is made in another currency, it would first be converted to Indian rupee before getting deposited. Money deposited in this account is free of taxes, and if you are maintaining any NRI fixed deposit in this account then both the interest and the principal is tax free. 

• Any normal bank account held by a Non-Residential Indian is known as Ordinary Non-resident Account or NRO. Deposits can be made to an NRO account from overseas. However, the account holder cannot transfer their savings from this account to a foreign account without prior permission of the RBI. The interests earned from these accounts are not exempted from the Income tax in India. NRO savings accounts allow you to keep your Indian earnings from rent, fixed deposit interest, dividends and other sources.

If you are an NRI looking to open an NRI savings account in the country, ensure that you understand the features of these two accounts and choose the one that you find most suitable according to your needs.

Personal Loan: 3 Unique ways to use an unsecured loan

Deciding whether or not to take a personal loan can be a tricky. This is mainly because personal loan is the only loan where the lender does not restrict you to use the money in a certain manner. For instance, education loan money can only be spent for education, while car or house loan can be used to only purchase a car and home, respectively. However, you can spend the money acquired through a personal loan for anything that you feel like.

Another unique feature of a personal loan is that you do not have to put up a collateral for the loan. So, rather than spending the loan money on a wedding or a vacation, you can try out these fun and unique options.

1. Adoption

When we think about a personal loan, we never think about the prospect of adoption. However, in India, the cost of adopting a child can be anywhere around Rs. 30,000 to Rs. 40,000. Aside from that, you would also need to hire a lawyer, which can also be an expensive prospect. Taking a personal loan can help you out in this regard and help save your own money, which can be used to care for the adopted child in the future. However, make sure that you only borrow as much as needed and not more.

2. Flipping a home

People with a penchant for business can take a personal loan in order to flip a house. Flipping a house means giving it a complete makeover. You can try to purchase an old or dilapidated house at cheap rates and use the loan money to renovate the structure. After the remodelling is complete, you can sell the house at a much higher rate than what you originally paid for it. So, apply for a personal loan if you think you can succeed in such a venture.

3. Starting your own food truck business

Food trucks are a common enterprise in the western countries but it is still an emerging market in India. The advantage with such a food truck is that you do not need to lease or purchase land for your eatery. You only need to purchase a big enough truck that can house the kitchen and food preparation counters. You can apply for a personal loan to set up such a business with ease, the profits generated by the business can then be used to pay off the loan.
No matter how you plan on using the personal loan money, remember that you should only loan as much as required. Going overboard may result in unnecessary hassle while paying it back i the future.

How credit card EMI calculator will help you keep your credit in check

Credit cards have a completely different functionality when compared to debit cards. While debit cards let you spend money that you have saved in your own account, credit cards let you spend money that you borrow from the bank. In a way, a credit card lets you loan small amounts of money each month for expenditures.

Although a credit card can be quite beneficial under certain circumstances, you need to keep an eye on the money that you spend using the same. Since this money is a loan, banks charge a substantial interest on it. If you are unsure about how much you would need to repay for a certain amount of credit card expenditure, an EMI calculator can be quite helpful. Here is a look at some of the benefits of credit card EMI calculator.

1. Understanding the connection between rate of interest and credit card bill
Most people tend to feel that they can spend as much as they want when they have a credit card. However, this is not true for two simple reasons. Firstly, each card comes with a credit limit, which you cannot cross each month. Secondly, if you reach the credit limit, chances are that you would be met with a huge credit card bill the next month.

So, it is very important to understand the interest that the credit card companies charge on your each and every purchase using the card. A credit card EMI calculator will allow you to understand how much interest you would have to pay when you spend a single buck using your credit card.

2. Determining how much you can afford
Once you understand the concept of the interest levied, you will also come to appreciate the fact that you cannot afford monumental credit card bills each month. With the credit card interest calculator you are given the opportunity to determine the maximum credit that you can take, without going overboard on your finances.

3. Picking the right card
Each credit card company offers a variety of credit cards to customers. However, not all of them will be suitable for you. Before selecting a card, you need to perform an extensive research regarding the benefits, offers and rate of interest charged on the spending. The credit card EMI calculator will aid you in narrowing down the best card for you, by helping you compare the cost of the card.

So, it is highly recommended that you take advantage of a credit card interest calculator prior to taking a card.

Health Insurance Plan: Key Factors You Need To Be Aware Of

A health insurance is a very important financial investment that almost everyone makes in order to secure the well- being of the concerned individual’s near and dear ones. Medical expenses are very steep and once a medical need arises in the family in the form of a surgery or therapy you can expect to incur a good amount of expenses. In such a situation you will not only have to pay for the cost of the surgery or therapy which will be quite high to begin with but you also need to purchase an array of medication both during the pre-surgery as well as post-surgery period, coupled with that are gazillions of tests that you will be asked to take by the doctor. So, taking into account that there will be a lot to consider, you might as well put in considerable amount of time researching about the different market products as well their features.

Key Features of a Health Insurance Plan Includes:
• Efficiency of Claiming- When you thinking about purchasing a health insurance for your family try to find out the ratio of the claims settlement and also the speed of it. If both are on the higher side then you are rest assured that the insurance company is doing one heck of a job when it comes to claims.

• Networking of Hospitals- This is where you need to look up if the health insurance plan features the facilities that you are likely to require often. Also, take note of the fact that if in the future you are required to shift then the travel insurance will also go along with you. Cashless facilities are another feature that you need to see are available in the networked hospitals.

• Pre and Post Hospitalization- The medical expense that you will have to take care of both during the period; before and after your hospitalization is known as pre and post hospitalization. These include follow-ups as well as medications that you will be asked to take.

• Gratis- Try to search for health insurance plans that provide you with a free health check-up option. These check-ups will not reflect upon the premium on the return of the policies for renewal.

• A Lifetime of Renewals- Look for policies that can be kept on renewing. This kind of a health insurance plan will not have any age limit policy when it comes to the time of renewal. This helps when you have elderly parents to consider and include as part of the policy.

Although these aren’t some of the limiting factors to consider when looking for health insurance policies, these are certainly some of the key factors.

Online toll payment: The convenience of paying toll online.

If you are working in a corporate house you must be aware of the RFID (Radio frequency Identification) card that you use every day to get access to your office. An RFID reader recognizes the tag which remains installed within the card. It works using a touch and go system whereby once you place the card on the reader, you are allowed access. RFID tags work well in any place where mass data collection and tagging is involved. Did you know that you can use the same technology to pay highway toll? And the best thing about it is it allows you to pay toll online hassle-free. It is surely a one-stop-solution if you have to pay toll tax on a daily basis while commuting.

FASTag is the newest device from the house of Radio Frequency Identification Technology. The tag remains attached to your vehicle’s windscreen and once you link it to a prepaid account, the tag becomes active. The toll fares are deducted from your rechargeable prepaid account automatically, every time you cross the toll plaza. No, you would not require waiting in front of a toll plaza if you are the proud owner of this technology. You just drive pass it seamlessly.

These are some of the benefits that you will enjoy if you pay toll online.

FASTags saves your time:  A person who needs to pay toll tax on a daily basis is best suited to understand the pains of waiting in the long queues that often form in front of toll plazas.  If everyone, beginning from public transport drivers to owners of personal vehicles starts using FASTags, imagine the amount of time that will be saved on your way to your destination.

Reduces traffic jams in front of toll plazas: All of us are aware of the painful traffic jams that form in front of toll plazas on the freeways. Most of that happens because trucks and heavy-duty vehicles use the highway to ply between different parts of the country. But if none of the vehicles pays highway toll physically and the process becomes completely automated, the traffic jams will also be brought down significantly.

Transparent: It is a transparent method which allows no extortion. This technology will play a major role in regularizing the collection of toll taxes on every part of the country. If FASTags become the only existing system, a no-escape policy will work soundly.
Convenient: Often you don’t have change and the collector refuses to take a note of a higher denomination; cue for a mild altercation in front of the toll counter, more traffic jams and angry drivers honking behind you. All these can be eliminated with a FASTag. 

Currently FASTags are being used in 350 toll plazas across India. Know if your nearest toll plaza has implemented the latest technology and if it has, get your FAStag fast.

Stock trading and demat accounts: All you need to know.

Before letting you on about the difference between a demat account and a trading account, first we would begin by throwing in a few details about how the stock market works. In simple words the stock market is a commercial hub. Here, the companies that are registered to conduct stock exchange, commence the process with a public offering against the stocks that the companies wish to sell to potential buyers. This is followed by bidding and the buyer acquires a stock after a final price is negotiated between the buyer and the seller.

Why do you need a trading account?

So, as has been aforementioned, whenever a company gets registered with the stock market, its shares become automatically open to the public. In other words, the public can now trade in these shares on the stock exchange. In earlier days before the advent of technology, bidding used to be a chaotic affair full of hue and cry. But, today, thanks to computers and the virtual realm, you can easily gather details related to stocks like the market price, and the ensuing trade process from within the comforts of your home or your work place. However, in order to get the privileges of the stock market, you must open a special account, called a trading account, first thing, that will allow you to conduct all the transactions. You can open a trading account conveniently, online. On opening the account you will receive an exclusive ID that will be used for trading.

What is a demat account?

If the trading account acts as a license to all your transactions, a demat account works as a wallet, where all the stocks that you buy get deposited. And if you are selling a stock of your own, this same demat account is used, from where the stock is picked up and sold.

Opening a trading account and a demat account online

A trading account can be opened online very easily. Use your discretion while choosing a firm. Compare the brokerage charges and make sure that the broker acts as soon as you place an order. One you choose your broker, you have to contact the responsible person who will collect all the personal details from you, like your PAN/Aadhar card details, address proofs etc. This will be followed by a verification process, after which you will get the trading account details, and, you are all set to conduct transactions.
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Likewise, you can also open demat account online. You simply need to link your demat account to your trading account and all the details pertaining to your trading account will be accumulated through the linked demat account. You can also open demat account online and ascribe a nominee to it. The nominee will receive all the securities of your demat account in case you are no more to claim it.

How to make the most of RTGS transfer

RTGS or Real Time Gross Settlement is an online fund transfer method that is overseen by the Reserve Bank of India. Through this method, people can transfer funds from one account to another in a real-time basis. Usually, RTGS payment involves a large amount of money and the minimum transaction should include more than Rs. 2 Lakhs. This is why RTGS transfer is reserved for business transactions and transfer of funds from one bank to the next.
RTGS is often considered to be a better option for fund transfer than the NEFT mode, where the clearance does not happen on a real-time basis. Here is a look at some of the ways in which you can take advantage of the RTGS method of payment.

1. Real-time settlement
RTGS transfer is the only option that involves real-time clearance. This means that as soon as you initiate the transfer, the beneficiary accounts will receive the funds instantaneously, without having to wait for the transfer. This is quite beneficial and is different from the NEFT method. In NEFT, the fund transfer is cleared in hourly batches. This means that there is a delay of a few hours from the time that you initiate the transfer till the time that it clears.

2. Online and offline method
RTGS payment can be made online and offline as well. If you are unsure whether you should proceed with the transfer online, you can do the same through the offline procedure as well. This will involve visiting the bank branch, filling out a remittance form and submitting it. However, the online procedure is much simpler, as you will not have to drop by the bank and the entire transfer can be conducted using the internet.

3. No added costs
All other means of fund transfer usually involve an additional cost, known as the processing fee. For instance, in case of fund transfer using demand draft, you would need to first pay for the draft to be created. This is an added cost that you would not have to bear if you choose the RTGS transfer method.

4. No upper limit to transfer
While you cannot transfer an amount lower than Rs. 2 Lakhs using the RTGS payment, the RBI has not imposed any upper limit to the amount that you can transfer. This is very useful for business purposes, as many large companies need a safe and secure way to transfer Crores of Rupees. RTGS offers this option to businesses, unlike all other modes of transfer.
You should take advantage of the RTGS method if you have a business and need transfer funds from one account to another instantaneously. The method can also be used to payy off the salaries of your employees.

Wholesale Banking: What do you know about it?

Wholesale banking refers to the financial system of monetary transaction between two big institutions. Under wholesale banking, services are provided only to government agencies, funds for pension, corporations having strong financials, and institutional customers. These services include cash management, leasing of equipment, big loans, merchant banking as well as trust services. Wholesale banking between two institutional banks takes place on the internet market which often involve huge amount of money.

In addition to traditional retail banking services, many standard banks offer wholesale banking and function as merchant banks. This basically implies that an individual in search of wholesale banking could join in the same bank where he controls his very own retail banking instead of going to a special institution. Modern wholesale banks engage in the following:

• Underwriting
Large specialist monetary organizations like banks and insurance houses offer these services whereby payment in case of any financial loss is guaranteed and they accept the monetary risk for accountability that may arise from such guarantee. An underwriting settlement is usually created in situations like insurance, issues related to securities in primary markets. 

• Wholesale financing
Banks usually rely on customer deposit to offer money that it can give away as loans to its borrowers. With the help of wholesale financing banks borrow additional money that can later be used to expand the business of lending funds above the level of deposits and accelerate interest earnings.

• Market making
A market maker, often termed as a liquidity provider, is an individual or a company that cites both buying price and selling price in a financial instrument in order to make profit on the turn.

• Mergers and Acquisitions (M&A)
These are transactions which combine the ownership of companies, business organizations, or their operating units. M&A allow an enterprise to grow, shrink, and change the nature of their business or competitive position.

• Fund management
Fund management basically means any system that monitors and maintains valuable things to an entity or group.

An easy way to think of wholesale banking is to consider it as a discount store that deals in such huge sum of money that it can present special prices or lowered fees. Large organizations, institutions with huge amount of asset, or business agreements usually benefit more from wholesale banking than from retail banking.

How can you benefit from the education loan in India?

Education is an important aspect for your child’s development and growth. A school helps him be a better human being and choose a career path that suits his personality. However, with the cost of education increasing day by day, parents are finding it difficult to make ends meet.

The problem of educational expense becomes more acute when we enter higher education where there is fierce competition among students and few colleges and universities providing good education.

Therefore, the solution for educational cost is taking an educational loan to fulfill your dreams and desires. However, educational loans can be overwhelming to a student thinking about higher education either a MBA or post graduate studies abroad. To help budding students pick the correct educational loan, here are some pointers to guide you:

 Covers the Cost of your Education- When you take an educational loan from a bank, it will not help you financially but cover 90 per cent of your educational expenses. They cover not only tuition fees and exam and library fees but other incidental costs like your hostel expenses, book charges and travelling expenses.

 Parents are Relieved of the High Educational Cost- Higher education has become an expensive affair. For students opting for higher education like MBA in India, the expenses become a burden on the parents. Moreover, some parents may not have the capacity to sponsor their child’s education dreams. The solution to such problem lies in getting an educational loan.
  
 Tax Benefits- Educational loans in India are eligible for tax benefits. Under section 80C, the interest payable on your educational loan can be claimed as tax deductions by the student taking the educational loan.

 Happy Period- The educational loan that you have taken from the bank will start to add an interest rate once you get a job after your higher studies. The student is given a period of 6 months to 1 year depending on the bank to repay the loan amount after he or she has got a job. This period is termed as happy period.

 Helps you More Responsible- An educational loan will make you more responsible as an adult and towards your finances. It makes you aware of monetary matters and makes you focus on your studies so that you get a good job and is able to repay your loan.

 Female Advantage- There is a rule that states 0.05 per cent discount on educational loans for girls.
There are numerous educational loans for Indian students from various banking institutes.So, if you have been contemplating studying MBA or postgraduate study and are worried about finances, then an educational loan is the way to go.

Tricks to keep your bank account safe

Technology has many boons as well as demerits. While we laud technology for making our life easier, there are some loopholes in it that can make our life difficult as well. Scamming is one of them. Often we hear about so and so losing a significant amount of cash to the vicious hands of scammers. Remember you can also fall prey to such duplicitous activities and lose your hard-earned money. But how can you prevent that from happening? All it takes is a little bit of alertness on your side. Going cashless sounds cool and it is also very convenient in an urban setting, but becoming literally cashless can take a toll on your life. Therefore, follow these tips when you are conducting monetary transaction and keep your bank account safe.

1. Look for skimmers on the ATM machine: You can access all types of bank accounts using an ATM machine, a quality that makes ATMs a go-to option. But did you know that scammers can install a sinister device called skimmer in an ATM machine that is designed to collect all your bank accountdetails as soon as you enter the card in the card reader slot? Yes, skimmers are real and so should be your alacrity. If you find something off about an ATM machine, like mismatched colors around the card reader, scratches on the ATM machine, immediately talk to the bank. You should also address the financial institution if you find something unusual while inserting the card inside the slot.

2. Do not divulge bank details over call: A scammer might call you in the guise of a representative of a telecommunication company, a bank or any such institutions. These calls are meant to sound plausible, and often, the scammer will try to extract the bank details from you. But never let yourself be duped. If you get such scam calls, do inform the police.

3. Hide your ATM pin: The skimmers usually have cameras installed on them. The device uses the camera to capture the details. But, while you enter the pin, if cover the screen with your other hand the camera will fail to capture the image.

4. Use your card yourself: Remember all types of bank accounts are prone to getting hacked anywhere and by anyone. Therefore, if you are paying online, swipe the card yourself. Because, often the attendants in restaurants, bars and retail shops run your card through a skimmer when you are not looking. Therefore, always be vigilant.

5. Check your balance: You should keep record of your account balance from time to time. If you observe any unexplainable depletion, address the issue to the bank immediately and take legal actions if need be.

Keep your guards up 24x7 to save yourself from unnecessary harassments.