Why opting for a two wheeler loan will benefit you today

At a time where loans can be easily availed, the two wheeler loan is slowly catching up. And with the popularity of two-wheeler rising in the last few years, opting for this loan will now make your two-wheeler purchase a complete ease. With this loan, you need not shell out a one – time lump sum amount anymore. Additionally, you can opt for a well-suited repayment scheme which will be easy in your pockets.

The first step to getting this loan is to approach the right place for it. While there are plenty of banks that will offer you a two wheeler loan, there are other financial institutes that will offer you the same loan along with the same benefits. These offering can be made to suit your needs and budget. Each of these options will offer competitive interest rates and processing fees. However, you will need to make a comparison between two or more financial institutes to know which one will benefit you in the long run.

The other benefits you can get from these options include assessment of loan eligibility, convenient EMI calculations, quick approval, flexible options for repayment and transparency. You can even access special schemes which include low-interest rates, especially during festive or auspicious seasons.

When it comes to opting a two wheeler loan you have an option between a secured or an unsecured loan. Each of these loan options offers different benefits. While the secured loan, you will be required to submit a certain collateral such as property, gold or any other asset of equal value. However, the interest rate for this loan is often low. With an unsecured loan, you need to submit any collateral. However, with this type of loan, the interest rate will be high. At the same time, if your credit score is decent, you may get a good interest rate in your favor. Therefore, if you don’t want to offer a collateral, you must ensure that you have a strong CIBIL score.

As a part of the application process for the two wheeler loan, you will need to submit certain documents. The standard documents include formal or legal proof of age, income, and address. Identity documents in the form of voter’s ID, passport, driving license, ration card and such must also be provided. The lender you will be applying to will review these documents before moving forward with the application process. At the same time, salaried individuals will need to provide salary slips whereas business people or self-employed individuals must submit income tax returns. It is also important to be aware that documentation requirements, charges, and eligibility criteria may differ from one lender to another.

How can you benefit from a loan against property?

When it comes to applying for a loan, there are several factors you will need to consider. For one, you may need to review the requirement for the loan. Do you need the finance to pay off a previous debt or do you need it to purchase a car? While there is a financial requirement for both, the situation for each one is different. Opting for the right loan for the right situation is important. But in the occasion, you need the finances to satisfy multiple requirements; the loan against property is your best option. Here is how you can benefit from this loan:

Low loan rates

When it comes to acquiring funds to satisfy your financial requirement, you will also need the means to repay it. While there are several loans in the market, they may or may not satisfy your financial requirements completely. Amongst the different loans, the personal loan and the loan against property are the only loans that will provide you with the flexibility to use the finances for any type of financial requirement. However, the personal loans come with high rates, especially when it comes to the interest rates. In this case, the best alternative to such a situation is the loan against property. You only need to submit your property as collateral wherein which, you will receive a loan amount that will reflect your property value.

Multi – purpose loan

Plenty of loans are available in the market. However, each of these loans has specific function and are required to be used for specific needs. For example, a business loan can only be used for a business related financial requirement. In the same way, gold loans, home loans, and car loans function in the same manner. They can only be used for the purpose they have been provided for. However, in the event that you need funds for multiple purposes, the personal loan and the loan against property will be viable options for you. In this case, the loan against property will prove to be the viable option owning to its beneficial and low rates.

Best with short tenures

As a part of the loan requirements and features, certain loans come with certain tenure range. For example, home loan tenures can last between 10 years to 30 years. Similarly, other loan tenures last for lengthy periods of time. No doubt, a long tenure will provide the applicant with the convenient means to repay the loan. However, with long tenures comes high interest rate. But with low loan rates, the loan against property will provide you with the required loan amount and the means to repay back the loan in convenience.

All you need to know about multiple demat and trading accounts in India

There are plenty of online brokers that come with different plans. While some are offer only standard benefits, others offer different features and services. Keeping this in mind, plenty of individuals are opting for a demat and trading account to make the most of these benefits. However, experienced investors have started to opt for multiple accounts to get better benefits. Here is all you need to know about opting for multiple account when trading today.

Requirements of opening multiple trading and demat accounts in India

With the stock market becoming more favorable for investment, more and more investors are opting to open multiple demat and trading accounts. But when it comes to opening these multiple accounts, certain criteria must be satisfied. For one, it should be open with different brokers and DP services. You cannot open multiple accounts with the same broker and in the same DP service. Additionally, if the two separate brokers have accounts with the same DP service provider, they will not provide an account to the same person. In such case you need to link both your trading accounts with one DP account. In this case, each broker company is now opening their own DP services, therefore the chances of this occurrence is very low.

What are the advantages and disadvantages of multiple accounts?

When opening multiple demat and trading accounts, you can use specific features of brokers. You can also take advantage of free trading platforms, especially if you make regular transactions on a daily basis. You can take advantage of the margin money with different brokers based on different segments. Additionally, in the occasion that you face a technical failure from the broker’s end on one particular account, you can always switch to the other account and easily hedge the trade. However, while there are plenty of benefits to opening multiple accounts, you will also need to take into account the annual maintenance charges for multiple trading and DP accounts. You will also need to keep track of the different demat and trade account along with the log in details and the tax documents for them.

Mapping multiple trading account with one DP and bank account

You can use one DP account to map multiple trading account. However, when it comes to selling stock in your account, you can only use a POA trading account. At the same time, when it comes to withdrawing or deposit your funds, you can use one bank account to be linked to multiple trading accounts.

As you can see, there are plenty of benefits and disadvantages to this account. You only need to decide the account as per your preferences and affordability expenses. Therefore, the solution here is to open up additional accounts, if only you have a requirement for it. Additionally, you must ensure that these accounts are kept separately.

Are you aware of these bank loans in India?

At some point in life, every individual will have a financial requirement which is well beyond their income. This can include a purchase for a particular item, or even sponsoring an education term or a purchase of a house. In each situation, the financial requirements will be different. This is where bank loans will play an important role. Plenty of banks and banking institutes have recognized this need and provided a variety of loans that will suit all these requirements. Here is all you need to know about the bank loans in India:

Secured loans

Secures loans take up one of the largest sector in loan provision by a bank. Through this loan, the loan amount is provided on the basis of the security that is pledged. This pledge must be an asset of equal value. This step is taken by banks to reduce the risk factor associated with defaulting on a loan. In the event that the borrower does not repay back the borrowed funds, along with the required added interest, the asset that is pledged will be forfeited. However, while the borrower may be required to provide a security, this is one of the best loans for large amounts. The loans in India also offer lower rates, higher borrowing limits and longer repayment terms as compared to unsecured loans. Some of the examples of this loan includes gold loans, car loans and even home loans.

Commercial loans

Plenty of upcoming, small or even large MNCs are faced with various financial requirements, which is insufficient by their income alone. This can include expansion of the business, or product line, or even financing a new upcoming venture. This can include financing an acquisition of another business. In such occasions, these business may not have the means for a direct access to the debt and equity market and therefore will not have a large aces to finance their ventures. The only way they can fulfill these financial needs is through financial aid. Through this loan, the financial advance you will receive can only be used for business or commercial consumptions. Under this category, you can get the business loan, land loan, construction loans and even the SME loans.

Other loans

There are some loans in India that do not come in either category. However, they still have certain criteria you will need to satisfy in order to receive the financial aid you would want. For example, rural loans are provided to individuals who reside in the rural area. These individuals require special loans that will help aid in their profession, such as the agriculture industry.This advance credit it tailored to suit the needs of these individuals perfectly, in terms of flexible interest rates and repayment period.

Key benefits to private banking

Not everyone’s financial income and needs match evenly. But to make the most of your income and your needs, you to choose an investment option that will match your needs. However, high net worth individuals normally accrue far more wealth than the average person. Therefore, they have the means to access a large variety of conventional and alternative investments. Private banking is designed to match the needs and requirements of these individuals with customized options. Given below are the key benefits of private banking and you as a high net worth individual (HNWI) can benefit from it.

Service designed around your finance

As mentioned earlier, a level of wealth above the standard range requires specialized management. When accessing a private bank, the services normally include a personal manager; you will not only help you look after your finances but also advice you on the best investment options. These individuals will also act as your personal contact and work closely with you. Specialists are also provided to understand your need and develop an individual financial plan, enabling your to enjoy your wealth today and into your near future.

Trusted relationship

With a large wealth at stake, every decision to you takes to invest or plan crucial. Even a single wrong decision or investment option can lead to immense loss, which in turn can affect your overall wealth. But with private banking, you have complete access to a range of financial experts who keep in mind the big picture of your financial requirements and needs. These individuals will draw up a financial plan designed to help you, your business as well as your family to flourish shortly.

Personal wealth management service

Only the best of financial advisers will be found in the private banking service. These individuals will be available to support your banking, finance, and investment solutions. Whether you would want to invest in a long-term strategy, plan for own or your family’s future, or even consider the business and personal finances separately or together, you will have only experienced individuals who will assist you.

Best access to product and services

Private banking not only allows you to invest and manage your funds, but it also provides the best means to utilize your funds for any expenditures. Additionally, you will also have access to plenty of products and services lent by the investment institute. However, this depends on certain criteria’s such as your circumstances and your relationship with the bank. At the same time, certain security investments must also be satisfied in order to access these products and service.

What are the factors that determine the best credit card in India?

The concept of having convenient access to a large sum of funds can often terrify a person or even overwhelm them with self-indulgence. A credit card, for that matter, is the perfect tool that allows individuals to purchase products of large sums on borrowed funds from the bank or financial lender. However, at the same time, the credit card user will also need to repay back the borrowed funds, albeit with an added interest after a particular period.

However, with the right financial responsibility and the ideal credit card, you will be able to make financial expenditures that are financially viable to you. While the financial responsibility lies on your habits and decisions, choosing the right credit card needs careful consideration, especially with all the credit card factors offered by the lender. Here are some of the important factors you should take into consideration when choosing the best credit card in India:

Interest rate:

If not the most important, is the most imperative factor that needs to be taken into account when opting for a credit card. This interest rate, also known as the annual percentage rate in the terms of credit cards, is the rate of interest charged to the credit card on an annual basis. This charge is calculated on a part or full portion of the unpaid balance. Before applying for a credit card, always check the interest rate offers along with the possibility of hidden costing.

Credit card limit

The credit card limit on a card determines the maximum amount the lender will let you borrow on a single card. This limit is decided based on your income, assets, and current credit score. When applying for this credit card, you must ensure that your limit isn’t too high, as exceeding the limit can incur a penalty for extra expenditures.

Fees and penalties

A credit card comes with a variety of fees and penalties, which differ on the lender. Some of the fees that are included with a standard credit card include annual fees, joining fees and late payment amongst many others. You should also be aware of hidden fees, by diligently going through the credit card terms before applying for it.

Incentives and rewards

Apart from other factors of a credit card to consider, rewards and incentives are two factors you can look forward to. The best credit card in India do come with plenty of these programs, but it depends on the lender that is providing you with the credit card. The best way to make the most of these incentives and rewards is to opt for a credit card that matches your lifestyle. You can even ask your lender for an upgrade after a certain period.

Get full funding with the best car loans in India

Plenty of individuals dream of owning a car. However, with the possibility of increasing and additional expenses makes it difficult purchase a car. But the availability of a loan, such as a car loan, will make this purchase easy.

But like any other loan, there is a considerable difference it the loan amount you will apply for, and the loan amount you will get. With the right financial profile, you can get at most 80 to 90% of the value of the car, as the loan amount. You can even get 100% if you only take the right measures.

Here is what you need to do to get a full funding for your car loan:

Get the optimum credit score

Like any other loan application, your credit score will play an important role in determining your eligibility and loan amount. This credit score is a valid proof of your financial stability as well as your financial history. A good credit score of over 650 will get you an affordable loan. However, a credit score of more than 750 gives you a higher chance of getting a full funding for your car purchase. Since most cars have a value of more than ten lakhs, a full funding by a financial institute may be a risky investment.

Therefore, these financial institutes would opt for a credit score that is nearly perfect, in order to reduce the risk of the loan applicant, from defaulting on the loan. In order to get the best credit score, you can start planning for it, as soon as you start earning. Taking credit or debit cards with small limits will help build your credit score over time, to near perfection. Alternatively, you can take measures to eradicate errors from your credit score, which in turn can affect you loan application.

Approach the right institute

Apart from the credit score, the right institute will also provide you with the best loan options. For a car loan, you can always approach a bank, financial institute or even a dealership for the best loan. You will need to check their individual requirements and offerings. Do enquire about the requirement for a full funding if possible. As most institutes or dealerships will find a full funding as a risky investment, there will be plenty of criteria you will need to satisfy. Having a previous relationship with the institute will help you get a better chance of a good loan. Additionally, if you are opting for a car model that is considered a low risk by the institutes themselves, then you will have a higher chance of a good loan deal.

Personal finances

Your own finances will play an important role when it comes to this kind of car loan. In order to suffice a full funding, you need to have the required financial income to support it. This would include a steady and high income.