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.