All About Demat Accounts And How To Open One

The savings bank account is for your money, your demat account is for your shares. To be straight, a demat account holds all your shares in a dematerialised and electronic format.  All your financial machinery including government securities, mutual funds, shares, bonds are held by Demat accounts. If you want to trade in the stock market it is mandatory that you have a demat account.

Now lets see how it works:

The CDSL and NSDL are two depositories in India that holds all demat accounts. A unique identification number is associated with every demat account and this is the number that you are supposed to provide while buying or sharing any share or bond in short making any transaction. This number make the companies identify you and deposit the shares and bonds in your account.
Then there are depository participants who provides a connection to the central depository. They are the brokers or financial firms that offer demat services.

Whenever you check your account,m you can see all the securities your demat account holds, this is also called portfolio holding. Whenever you make any transaction, these portfolio holdings and details are automatically updated.

Now lets get to the brass tacks! – how do we open a demat account?

The very first step is to choosing a Depository participant. There are many depository participants out there sone of them are 1. Globe capital market limited, 2. SMC global securities limited, 3. HDFC bank limited, 4. Sharekhan limited, 5. Edelweiss securities limited, 6. Kotak securities, 7. India Infoline limited so on and so forth.

Once that is done and you have chosen a depository participant, you have to fill up a demat account opening form  with the required documents and a pan card! After which, a copy of the rules and regulations and the terms and agreements will be handed over to you which will also include the charges that will be borne by  you. When Depository participant is done processing your documents for the account opening, it will give you your account number and the unique id that has been spoken about earlier on.  You have to use these details to access your details on your demat account whenever you want to. A monthly charge of maintenance of the demat account has to be paid by you and at the same time you also have to pay the charges for buying and selling securities, these charges differ in almost every depository participant.

Unlike a normal savings account a demat account can be opened even of one doesn’t hold and shares and the maintenance of shares in the account is not necessary to keep the account operable.

The Importance Of Online Mobile Recharge

The Internet pays a very crucial role in our lives whether it is in the office, in our study, in college or at home. Mobile phones are no longer any luxury; it has now become a necessity for the common man in India. It is almost unavoidable from the business and personal point of view because it connects us with our clients, families and friends.

Online mobile recharge is very easy and extremely simplistic method to do through various websites that offer these services.  A lot of websites provides online mobile recharges of almost all the carriers available in the market today be it Jio, Airtel, Vodafone, BSNL, Idea, Aircel so on and so forth. All you have to do is log on to the relevant website and submit the recharge amount and the other required information which consists of your name, number and the name of the carrier and press the submit button. After that you need to make the payment and the mode in which you will be making the payment is to be selected by you for which you can use any services which range from online banking to ATM r debit cards to Credit cards or payment wallets.

If in case you are using a credit card or an ATM or a debit card, you will have to fill up your credit card or ATM or Debit card details and get the recharge done. These are the steps that need to be followed for online mobile recharge through the various web portals that offer the online mobile recharge services. In India these websites have also come up with their customised apps which can be accessed through your mobile phones. These apps are a flexible option that integrates seamlessly with the website and also provides the facility of auto-generated text messages that can be delivered to the recipient’s mobile phones.

Nowadays there are several software service launches which are aided by the online mobile recharge websites because they allow the business houses to get a complete account and recharge solution for their business. Customers can provide and control their operators but SMS’s and recharge their mobile phones whenever they need.

The automatic recharge software would help the customers by providing an easy and convenient way to facilitate auto-generated text messages. The online mobile recharge websites are extremely popular with all and sundry in India especially because of some of the offers that art her on display. The coupons and other added goodies become an attraction of sorts. The prepaid market is huge and it is untapped as well which is why many companies would want to venture into the prepaid market

All You Need To Know About Personal Loan Emi Calculator

A personal loan is just like any other loan that is available with the banks. However there are a lot of differences when it comes to a personal loan and the other loans that are available in the market. The home loans, the car loans, the gold loans so on and so forth are mostly secured loans, which means these loans have collateral or security money which is taken away when not being able to repay the loan. However a personal loan is an unsecured loan and it doesn’t have collateral or any security money which might be taken away by the lender in case the loan is unable to be paid by the borrower.

The personal loan can be used to fulfil any whim and fancy of the borrower, it is not meant for any specific purpose.  It can be used for going on a vacation, for renovating your house or buying your favourite gadget, for the treatment of illness, for setting p a new business so on and so forth. Anyone who takes a personal loan in India gets flexible repayment options and the repayment period ranges from 1 year to 5 years. The interest to pay for the personal loans depends from one bank to the other.  Therefore it is mandatory to do a proper research and then choose the loan that suits you the most. The personal loan also doesn’t take much time for disbursement. All of these eases make personal loans today a hot favourite amongst banking customers. However it is very important to know what is the exact amount that you need to repay when you take a personal loan for N number of years. This is where the personal loan EMI calculator comes in.

Another thing is worth mentioning in this context is that the personal loans might get costly if the repayment period is long because it is to be kept in mind that the personal loan comes with an interest rate, so the longer the tenure of the personal loan the longer has the interest to be paid and hence the costlier it gets.

Therefore it is advisable to evaluate your personal loan with a pen and paper and get to the brass tacks right from the very beginning. However once that is done and the personal loan is approved, you will be surprised to know that the amount approved might be different from what y9ou thought would be which again depends on your credit scores and credit history. That means that once again you have to sit and calculate the EMI and the cost of your personal loan. Care should be taken that the calculation that you are doing is accurate and is not faulty, hence it is always advisable to use a Personal loan EMI calculator

The Personal Loan Interest Rates And Everything Related To It

A personal loan makes sure that you get that much-coveted piece of jewellery or you start that business that you waited for so long, or perhaps make your own film. At times, a personal loan also comes in handy when you have to treat an urgent ailment or perhaps just head out to a luxurious vacation.  Getting a personal loan is tough but when one gets it becomes difficult to repay more often than not because of the staggering interest rates that the personal loan comes with. The interest rates depend on a lot of factors.  Your credit ranking, your credit scores and on whether you have ever defaulted on your credit history or no.

A personal loan is not loan that is secured, which is why the lender cannot take away your home or your car when you cannot repay your loan. There is no security money that is attached to the loan which is why at times it becomes very difficult to get the loan as well. The thorough credit checking procedures that are there in place is because if your credit scores are low, be sure the amount that you are going to get as a loan will be lesser than you  thought and at times the interest will also be hiked up.

The personal loan interest rates also depend on the tenure of the loan. If your personal loan tenure is for a bigger span of time, the chances are that your personal loan interest rates will increase drastically making the loan very costly because by the time the tenure is over and done with, you will only end up paying double the amount that you borrowed.

Therefore it is advisable that you do your proper research when you are going in for a personal loan so that can compare the personal loan interest rates and see for yourself which one suits you. However, once you have chosen the bank from where you would be taking your personal loan, the bank would do a verification of your credit scores and credit history after which it would decided whether you would get the personal loan or not and if yes what would be the interest rate. If your credit score and credit history is fine, you will get a lesser interest rate and vice versa.

One everything is finalised, it is better to go on to the website of the particular lender bank in question and put in the details of your personal loan, which would include the principal amount, the interest rate that will be charged and the tenure of the loan, so that you can figure out how much extra you would be paying by the completion of the personal loan tenure.

All one needs to know about personal loans

Personal loans are one of the myriad other kinds of loans that are available and one can borrow from a bank. These loans don’t just fulfill any specific purpose, these loans can be used to meet any individual end. The amount that is shelled out to in the form of personal loans can be used by you in order to buy anything, to pay off an existing debt, start a new business so on and so forth. It is very difficult at times to get personal loans and at times they are offered by the banks upfront. If in case you are considering of getting yourself personal loans , these are some of the points you should keep in mind.

1.These are unsecured loans – unsecured loans are loans that don’t require any security money or collateral. If in case you don’t pay an instalment of a personal loan or you delay paying an EMI for the personal loans the lender of the loan cannot take away your property as payment for the loan. This is why personal loans are at times very difficult to get. Even though the lender doesn’t have the option to seize your home or your car there is alot other action that they can surely take in order to get back their amount. They can simply report the late payment to the credit bureaus or a collection agency; they can file a lawsuit as well against you.

2.They usually have fixed interest rates – the interest rate on a personal loan is more often than not locked and it doesn’t change for the entire tenure of the loan. The loan amount that is approved for you in the case of a personal loan depends a lot on your credit score and the interest rate that is fixed on your personal loan too is decided because of your credit score. If your credit scores are good then the interest rate that you might get is less, and vice versa. Lower interest rates are always good because the cost of the personal loans is much less.

3.Personal loans affect your credit score - Most lenders or banks and financial institutions report your low credit scores to credit bureaus. At that time when you are applying for the loan your credit score is checked and your financial details are dived into in the minutest of detail. All this is done to be sure that you are in a position to repay the loan in the stipulated period of time. The key to maintaining a good credit score is to make the repayment on a monthly basis without delay.

These are some of the core points to keep in mind when going in for a personal loan.

What is an EMI?All you need to know about EMI calculator

The full form of EMI is equated monthly instalment which is a fixed amount of payment the borrower has to make to the lender at a specified date on a monthly basis EMIs have your principal amount and the interest amount that you are supposed to pay every month.

Here’s all you need to know about an EMI calculator

Say for instance you have decided that you are about to take a loan, it might be a car loan, or ahome loan or personal loan. The first step of taking the loan is nothing but just sitting down and making a serious calculation of how much is it going to cost you. This cost is calculated in the terms of the monthly payment that needs t be done towards the loan and these are called the EMIs or the Equated monthly instalments.

Once you need to get the exact EMI, you need to calculate the amount borrowed and the interest that you are supposed to be paying on the principal amount and the processing fee for the loan that you have taken.Once you have all this information you have to sit down with a pen and paper to see how much will you have to pay monthly for the amount of loan that you have taken or the amount of loan you have decided to take and you will also have to take into consideration that tenure of the loan i.e. the period through which you are going t pay the full amount of the loan. One that is done , it might strike you that the EMI is way too big and you will reduce it in some way or the other in order to do it you have to either lessen the tine period of the loan i.e. the loan tenure or you have to borrow less. When that is decided, you have to calculate all over again. One you have the right EMI, you have to start looking at the banks and other financial institutions that are ready to give that amount as a loan. When you find an institution they will give you a quote and you will once again realise that you have to do the calculations over again. Doing the calculations over and over again is tiring and there is a chance that you might goof up. You have to make sure that while doing these loan calculation you do not make any mistake at all. Therefore there are many websites of banks and other financial institutions that offer EMI calculators that do it for you.  These EMI calculators have slots which you need to fill in. You have to fill in the amount of the loan, the tenure of the loan and the interest rate. Once all of this basic information and other information that is asked for is filled in the EMI calculators will calculate your monthly EMI fast and accurately and will save you the time and effort of it.

Therefore in order to do the loan EMI calculations in an efficient and accurate manner it is always advised to use an EMI calculator.

Do you know how to send money to India? These are some easy ways!

If you are an NRI you have to send money to India one in a while. It becomes a compulsion while living abroad. Whenever you are sending money to friends and family or transferring money back home in order to manage finances at home there are myriad methods to send it. Listed below are few of the options through which the money can be sent.

Money transfer companies - Money transfer companies offer a lot of money transfer services which includes the option to send money to India. They offer a secure, fast and comparatively inexpensive ways of how to send money to India from abroad locations and they are often come with alot of benefits. These benefits include better exchange rates, lower transfer fees and excellent customer service. There are multifarious money transfer companies to choose from and you can select the best company depending on their exchange rates fees and other features and benefits.

Wire transfer – Wire transfers are extremely common for international money transfers and most of the banks abroad offer wire transfer services. With a wire transfer t as well.

The funds are transferred directly to any foreign bank account and most of the time it just takes a few days. The charges for the wire transfer services vary from bank to bank which is why the fees need to be checked.

NRI and NRE accounts – NRI and NRE accounts are a tried and tested ways of sending money to India. In order to send money to India through an NRI or NRE account, first you must open an NRE bank account. With this method you can deposit foreign currencies in your account and the authorised recipient bank in India can withdraw the amount in Indian rupees. The transaction process usually takes a week’s time and is not taxable.

Personal cheques – You can write a personal cheque to the recipient who can then deposit it in their bank account in India. Some banks though do not accept foreign cheques and even if they do there is more often than not a delay in encashing the cheque because the bank has to first verify the deposit. The recipient may also be required to pay a certain amount to encash the cheque.

Cashier’s cheques, money orders and bank drafts – All of these options can be purchased through a bank. Also there are fees to purchase these but these fees are much less when compared to the wire transfer fees. With cashier’s cheques, money orders and bank drafts you can buy the amount you want to send in the Indian currency. Be sure to make a copy of the money order and the bank drafts and keep it with yourself for the records.