loan amount – Tedxyouth Caltech http://tedxyouthcaltech.com/ Sat, 26 Mar 2022 06:49:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://tedxyouthcaltech.com/wp-content/uploads/2021/10/icon-5-120x120.png loan amount – Tedxyouth Caltech http://tedxyouthcaltech.com/ 32 32 Hong Kong Green Finance Association Supports 2022 Hong Kong SAR Budget Speech https://tedxyouthcaltech.com/hong-kong-green-finance-association-supports-2022-hong-kong-sar-budget-speech/ Thu, 24 Feb 2022 03:03:00 +0000 https://tedxyouthcaltech.com/hong-kong-green-finance-association-supports-2022-hong-kong-sar-budget-speech/ HONG KONG, February 24, 2022 /PRNewswire/ — In Budget Speech 2022-23 by Paul Chan Mo-PoFinancial Secretary of the Hong Kong Special Administrative Region, suggests that the development of green and sustainable finance in hong kong continues to be a key initiative to support that of Hong Kong net zero program as well as the country’s […]]]>

HONG KONG, February 24, 2022 /PRNewswire/ — In Budget Speech 2022-23 by Paul Chan Mo-PoFinancial Secretary of the Hong Kong Special Administrative Region, suggests that the development of green and sustainable finance in hong kong continues to be a key initiative to support that of Hong Kong net zero program as well as the country’s “3060” target for peak carbon emissions and carbon neutrality.

Dr. MA Jun, Chairman and Chairman of HKGFA, expresses his support for the green and sustainable finance initiatives announced in the Hong Kong SAR Government Budget Speech 2022-23

Dr MA Jun, Chairman and President of the Hong Kong Green Finance Associationstates that “the successful issuance of more than $7 billion equivalent of green bonds under the government’s green bond program demonstrates the confidence of global investors in that of Hong Kong the economy and its green initiative. The government’s commitment to issue green bonds totaling $4.5 billion this year, the planned retail green bond issuance and expansion of the green and sustainable finance grant program, as announced today in the finance secretary’s budget speech, will further strengthen the role of hong kong as an international hub for green finance. In particular, government subsidy through the Green Loan Verification Grant Program has been an innovation in hong kongand will be part of international best practice.”

“We are particularly excited about the launch of the Green and Sustainable Capacity Building Support Pilot Program, which is critical to bridging the talent gap and helping to retain and attract green finance professionals in hong kong. The Hong Kong Green Finance Association (HKGFA) is pleased to support the government’s efforts in this regard. HKGFA has already made plans to work with government and educational institutions to launch training programs on green finance and ESG investing. We will also work through the Greater Bay Area Green Finance Alliance to facilitate international investors’ access to quality green projects in mainland China and explore options for mutual recognition of green finance products in the GBA area. »

Read the full budget speech

https://www.budget.gov.hk/2022/eng/pdf/e_budget_speech_2022-23.pdf

Excerpt from the budget speech on green and sustainable finance:

77. We are committed to promoting the development of retail bonds for the benefit of the public. I plan to issue no less than $15 billion inflation-indexed retail bonds (ie iBond) and no less than $35 billion of Silver Bond over the next financial year, with a view to offering the public, in particular the elderly, investment options with regular returns. Details of the first batch of retail green bonds for public subscription were announced last week. Members of the public can invest directly in green projects that provide environmental benefits to jointly create a green environment for green living in hong kong while earning regular inflation-linked returns. I plan to continue broadcasting no less than $10 billion retail green bonds over the next fiscal year.

83. The development of green and sustainable finance in hong kong offers promising prospects. By leveraging our advantages as an international financial center, we can facilitate the matching of international capital with quality green projects, proactively contribute to helping our country achieve its “3060 target” for peak energy. carbon emission and carbon neutrality, as well as to propel hong kong towards our goal of carbon neutrality by 2050 and promote the green transformation of our economy.

84. Since the launch of the Government Green Bond Program in 2018, a total of more than 7 billion US dollars equivalent green bond targeting global institutional investors was successfully issued. Several milestones were achieved, including the issuance of a 30-year US dollar-denominated green bond and a 20-year euro-denominated green bond, both of which are the first issuance among Asian governments, and have established an important benchmark for the flourishing development of the bond market in hong kong. The successful issuance of RMB green bonds by the Shenzhen Municipal Government in hong kong set an example for GBA cities to make good use of the hong kong green finance market. He also strengthened that of Hong Kong operates as an offshore RMB hub and green financial hub. This year, we will continue to issue green bonds for a total of approximately US$4.5 billion or equivalent.

85. Green and sustainable finance Grant program launched last year has been well received by the industry. Over 50 applications have been approved to date, covering various types of green and sustainable debt instruments. Of the applications approved, many were for grants to cover external review costs related to green and sustainable lending. To help businesses access green finance, we will lower the minimum loan amount by $200 million for $100 million with regard to applications for grants to cover external examination costs under the scheme.

128. Considering the new development trend of low-carbon and sustainable economy, we plan to launch a three-year green and sustainable finance capacity building support pilot program. Under this scheme, grants will be provided for training and the acquisition of relevant professional qualifications, in order to encourage practitioners from the financial sector and other relevant sectors to participate in the training.

Source: https://www.budget.gov.hk/2022/eng/pdf/e_budget_speech_2022-23.pdf

About the Hong Kong Green Finance Association

Founded in September 2018Hong Kong Green Finance Association (HKGFA) provides a unique platform that supports the development of green finance and sustainable investments in hong kong and beyond. It aims to mobilize the resources and talents of the public and private sectors in the development of green finance policies, to promote green finance activities and product innovation within financial institutions. The main objective of HKGFA is to position hong kong as an international hub for green finance by providing better access and opportunities for that of Hong Kong financial institution to participate in green finance transactions locally, in mainland China and in markets along the Belt and Road. This is in line with the global trend towards implementing the United Nations Sustainable Development Goals and the Paris Agreement.

HKGFA’s main activities are organized into eight working groups, namely Green and Sustainable Banking, Green and Sustainable Private Equity, Green and Sustainable Real Estate, Green Bonds and Product Innovation, Disclosure and ESG Integration, Policy Research and Dissemination, Green and Sustainable Insurance, and External Collaborations. Please visit https://www.hkgreenfinance.org/ for more information

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Apply for a gold loan online? Avoid these mistakes https://tedxyouthcaltech.com/apply-for-a-gold-loan-online-avoid-these-mistakes/ Mon, 21 Feb 2022 11:43:43 +0000 https://tedxyouthcaltech.com/apply-for-a-gold-loan-online-avoid-these-mistakes/ Gold enjoys a strong emotional connection in every Indian home, treasured as an auspicious omen for celebrations and reserves for rainy days. And it is on this reserve that you rely to deal with financial emergencies requiring funds quickly. A loan against gold is therefore your savior in the crisis offered by gold loan companies […]]]>

Gold enjoys a strong emotional connection in every Indian home, treasured as an auspicious omen for celebrations and reserves for rainy days. And it is on this reserve that you rely to deal with financial emergencies requiring funds quickly. A loan against gold is therefore your savior in the crisis offered by gold loan companies in tailor-made schemes. But, despite its simplicity and fast disbursement, you may still hesitate to choose the best one for your needs. More of that later, but first, let’s learn what applying for a gold loan online is all about.

What is an online gold loan?

The online Gold loan is secured against gold objects given as collateral. Thus, gold jewellery, bars or coins are eligible for the loan guarantee. The lender assesses the market value of the pawned gold item based on its purity and the current rate. Accordingly, the LTV (Loan to Value) is fixed and the terms and conditions are indicated according to your financial situation and preferences. Finally, the loan is disbursed and credited to your account upon acceptance of the terms and conditions of repayment. Although simple at first glance, let’s consider the pitfalls.

Beware of Online Gold Lending Mistakes

Lending against gold is common and readily available. While it meets your financial needs in times of crisis, it can also fuel your life aspirations. But, circumspection pays off in the long run, protecting you from unforeseen hazards. So let us check out the various red flags that you should not ignore.

1. Not understanding the reimbursement structure:

Understanding the repayment structure of gold loans is essential for your financial planning to avoid defaults. Choose from the four options usually offered by online gold loan lenders.

a. Regular NDEs: The most common repayment structure is ideal for employees with a stable income stream. EMIs are paid over the term of the loan, including interest and principal.

b. Partial refund : The structure is best suited to business borrowers. You repay the interest and the principal in installments according to your convenience. In the process, you save significantly on interest expenses.

vs. EMI interest: You pay the accrued charges interest on gold loans in EMI over the life of the loan and the total principal in a lump sum at maturity. The repayment structure is user-friendly as the EMI is minimal.

D. Refund per bullet: You repay the loan all at once at the end of the term, including accrued interest and principal. The cost of the fund is higher because interest is charged monthly and accrues until maturity.

2. Unaware of the LTV calculation:

According to the RBI, the loan against the quantum of gold is capped at 75% of the assessed market value of the gold pledged. Therefore, the calculation based on the loan-to-value ratio is essential in determining the loan amount. On the other hand, the higher the LTV, the higher the risk. However, this also implies that your loan amount is higher.

3. Not evaluating the value of gold:

You can pawn gold jewelry, coins, bars, cookies, utensils, and similar items for loan. In addition, the gold must have a purity greater than 18 or 22 carats to be accepted as collateral. However, gemstones embedded in your jewelry are ignored when determining the market value of the item. So recognize the value of the gold you promise.

4. Failing to identify hidden fees:

Most lenders set different fees in their credit products, and lending for gold is no exception. So, read the fine print of the terms and conditions when applying for a gold loan online. Especially processing, foreclosure, late payment and auction related fees, to name a few. You can feel its impact on the cost of the fund if you haven’t taken these things into account.

Conclusion:

While a loan against gold serves you well in times of severe financial crisis, you should be alert to the pitfalls of grabbing the first deal that comes your way. Always remember that you have pledged a valuable household asset when applying for gold loan in line. Simple mistakes can prove costly in the long run, as you bear the risk of gold loans.

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How to compare and apply for a personal loan online – Forbes Advisor INDIA https://tedxyouthcaltech.com/how-to-compare-and-apply-for-a-personal-loan-online-forbes-advisor-india/ Wed, 16 Feb 2022 04:49:34 +0000 https://tedxyouthcaltech.com/how-to-compare-and-apply-for-a-personal-loan-online-forbes-advisor-india/ Nowadays, people are increasingly meeting their short term monetary needs by using low cost credit facilities, mainly personal loans. The transformational change in the banking and lending systems has greatly benefited consumers as well as financial institutions. Consumers have won because it allows them to borrow money easily and quickly; technology absorption ensured speed and […]]]>

Nowadays, people are increasingly meeting their short term monetary needs by using low cost credit facilities, mainly personal loans. The transformational change in the banking and lending systems has greatly benefited consumers as well as financial institutions. Consumers have won because it allows them to borrow money easily and quickly; technology absorption ensured speed and penetration. Financial institutions have improved their profitability because they are able to get a higher interest rate (compared to secured loans) on unsecured loans.

The Reserve Bank Of India (RBI) has an omnibus classification of personal loans, which includes various categories such as consumer durables, gold loans, education loans (table below); however, individuals consider personal loans to be short term unsecured credit facilities, listed below under “other personal loans”.

The growth of the personal loan category clearly exceeded that of gross bank credit. However, even within the overall classification of personal loans, the “other personal loans” category (i.e. the traditional personal loan) has grown even faster than the group as a whole, i.e. i.e. in the past two years, 2020 and 2021, growth has been dizzying 12% and 24% respectively; and, as of December 2021, outstanding personal loans stood at a whopping INR 9.37 lakh crores.

With the uncertainties afflicted by Covid, the demand for personal loans (PLs) has indeed exploded, especially since a personal loan is an unsecured loan, i.e. it is not necessary to give a guarantee. A consequence of the frenzied competition between lenders is the long-awaited digitization of PL processes, from onboarding a client to verifying credentials, closing the arrangement and finally transferring funds. to the borrower.

Digital banking services have primarily reduced bias resulting from human intervention and also provided a much improved user experience by making processes more transparent and easier to navigate.

Are you eligible to apply for a personal loan online

Anyone with a monthly income above INR 15,000 can be eligible for a personal loan. However, banks, NBFCs, and fintech companies have additional criteria for approving personal loan applications.

Apart from the monthly income threshold, consumers are also required to show an acceptable credit score, a healthy repayment history and income stability in the future.

Bankers also check the existing credit facilities used by the customer, if the cumulative monthly repayments are less than the monthly income. If net monthly repayments are already above an individual’s earning potential, the application is likely to be rejected.

How to compare a personal loan online?

Almost all banking channels, NBFC partners and fintech companies clearly mention the interest rate, relevant fees and other terms and conditions on their respective websites. Consumers looking for personal loans can maneuver or browse through individual lenders’ web sections to compare and contrast multiple offers.

  • When comparing personal loans online, the main differentiators include the applicable interest rate, processing fees, stamp duty, and any other hidden fees. You can self-assess the authorized loan amount, repayment term and applicable interest rate before continuing with your plans.
  • Visiting each bank’s website one by one can be a tedious exercise. It may be faster to access the platforms of some well-established financial services companies, which host a ready comparison of personal loan offers. It is best if you have a rough idea of ​​your own creditworthiness and thus focus your attention on the lenders most likely to suit you, i.e. traditional banks, NBFCs, fintechs.
  • If you are a salaried person with a good credit history, you can opt for banks like HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank; independent borrowers could evaluate NBFC offers; a borrower new to credit should look to fintech lenders. Conversely, you may wish to leave your contact details and you will receive customer service based phone calls based on which you can make an appropriate selection.

How to apply for a personal loan online?

After a thorough comparison of the different personal loan offers, you can continue with the selected provider. Some banks, NBFCs, and almost all Fintech companies have easy-to-navigate mobile apps that allow you to apply for various financial products, including personal loans, online.

However, if you are unfamiliar with online processes, all financial entities have voice customer support, through which representatives from the bank, NBFC or fintech company guide you through the process. online request. A “phy-gital” hybrid path is a good option to get familiar with fintechs.

Applicable interest rates

With the ongoing record repo rate scheme maintained by the RBI, a client with a healthy repayment cycle, an outstanding credit rating and a limited number of existing debt securities, can avail a personal loan at a rate of interest as low as 8.5% to 9%.

Typically, the interest rate on a personal loan ranges from 9% to 20%. The interest rate is in the low range for most public sector banks and private sector lenders: these institutions have the luxury (lower cost of funds) of onboarding quality clients, i.e. say those with a top notch credit history.

NBFCs and fintechs can extend PL to new borrowers and those with an unenviable track record; but this easy credit has a relatively higher cost.

INDICATIVE COMPARISON

term of the loan

The repayment term of a personal loan varies from 12 months to 60 months. As an exception, some banks are willing to extend the tenure beyond the five-year term to accommodate a large note facility.

amount of loan

Generally, you can avail any amount between INR 20,000 and INR 50 lakh as a personal loan. Some new age fintech lenders even give loans of INR 1,000. The principal amount that will be sanctioned entirely depends on the level and sustainability of income, credit rating, repayment history, existing liabilities, rate of credit utilization, dependence on credit for needs periodicity, the frequency of seeking credit facilities and the number of active credit accounts. including functional credit cards.

Other expenses

In addition to interest rates, financial institutions charge a processing fee which can be a fixed amount or a percentage of funds disbursed. In addition, there may be stamp duty charges, as well as penalties for non-repayment or potential failure to meet monthly equivalent installments (EMIs).

A significant percentage of personal loans are fully repaid before the end of the term. It is therefore relevant to confirm the cost of the partial/full prepayment of the loan.

Deadline for receipt of funds

Financial institutions have varied arrangements. With a greater push on digital inclusion, most lenders have created fully digital processes for personal loan applications and disbursements.

Aggressively entering the personal loan market, several lenders are gradually offering instant loans in which funds are credited to your account in less than 30 minutes. Where Instant Disbursement is not on the cards, funds will be received in 4-5 days outdoors.

End-use commitments

Although most lenders ask for an end-use statement, personal loans can be used for the full range of expenses, i.e. weddings, moving, renovations, medical emergencies, vacations or others.

Role of credit score

The credit score plays a vital role. Borrowers in the upper percentiles are welcomed by financial institutions and will always have access to the best deals and multiple options. On the other hand, there are only a handful of banks, NBFCs and Fintech companies that are open to extending new credit to subprime borrowers. and people with a faulty repayment history.

Conclusion

With the introduction of online process, the whole journey of getting unsecured loans has become easier and faster. However, caution is advised lest this newly created borrowing facility drives consumers into a debt trap. In addition, financial institutions must also be careful in granting credit loans, as these loans could lead to higher default rates.

Digital banking, including online borrowing, is a rapidly changing landscape, so you can expect ever-increasing innovation and convenience in the process of obtaining a personal loan.

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Assets against which you can take out a loan https://tedxyouthcaltech.com/assets-against-which-you-can-take-out-a-loan/ Mon, 14 Feb 2022 07:40:52 +0000 https://tedxyouthcaltech.com/assets-against-which-you-can-take-out-a-loan/ As soon as we start gaining and earning the wings of financial independence, we are often advised to focus on building assets, like real estate, gold, etc. While assets are generally considered synonymous with the word investment, While you aim to generate good returns and/or liquidate them profitably, there is another lesser known facet of […]]]>

As soon as we start gaining and earning the wings of financial independence, we are often advised to focus on building assets, like real estate, gold, etc.

While assets are generally considered synonymous with the word investment, While you aim to generate good returns and/or liquidate them profitably, there is another lesser known facet of asset ownership, i.e. loans.

Whenever you need funds due to financial hardship or life requirement, you can take out a loan against an asset. This will not only prevent you from losing ownership of the asset (unless you default on the loan, which would have been the case if you had liquidated that asset by sale or redemption), but will also act as another loan when you are denied other loans, such as a personal loan.

Wanting to know such assets that can earn you a to lend and bail you out of monetary shortfalls? Read on as we unfold them.

loan versus asset

Also read: Does it make sense for millennials to apply for a home loan in their twenties

1. Gold

gold loan
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The brilliance of gold shines in many homes in India, doesn’t it?

There is no doubt that gold is one of our country’s most valued assets. Whether the reason is purely an investment or due to the widespread tradition and culture relating to gold, many Indian households tend to have a preference for it. glittering trump.

And this relatively massive presence of this asset in our country makes borrowing against it a fairly common practice across the country for those with substantial gold to pledge.

Key features of Gold Loan include fast disbursements, short repayment tenure usually up to three years, LTV ratio up to 75% and flexible repayment options apart from the usual EMI option, like bullet repayment option, upfront interest payment option, etc. Such flexibility in repayment often proves useful for those with irregular incomes or who prefer non-EMI options for gold loan repayment.

Read also : Does it make sense to buy a new car or just Uber everywhere?

2. Securities such as stocks, mutual funds, insurance policies, etc.

loan against insurance
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Investors and policyholders are most often unaware of the securities lending facilityin which borrowers can avail a loan against the collateral they hold, instead of redeeming it.

This is particularly useful in the case of market-related securities such as mutual funds, bonds, stocks, etc., in which you can suffer losses if you need the funds and buy them back when your portfolio bleeds out. Red.

Many financial institutions provide securities lending, including the pledge of bonds, stocks, ETFs, mutual funds, NSCs, life insurance policies, KVPs, and more.

Are you wondering about the interest or yield of the security? Don’t worry, your securities continue to earn interest and you continue to receive credit for interest, dividends, bonuses, etc., if any, on the pledged collateral. Regarding the amount of the loan, it depends on the type of security given as collateral and the LTV ratio (Loan to value ratio) assigned by the lender for this security.

Also keep in mind that this loan option is usually offered as an overdraft facility with a sanctioned credit limit, which implies that the borrower is free to withdraw all or part of the sanctioned limit. according to the respective funding needs of the different borrowers.

Accordingly, interest is charged based on the amount withdrawn and not the total sanctioned limit, and charged until repayment is made.

Read also : Does it make sense to invest your surplus or prepay an existing home loan with it

3. Fixed deposit

loan versus asset
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Another popular investment instrument in our country is a bank fixed deposit. While most FD investors are aware of the Partial Withdrawal/Close facility to help in times of financial shortfall, few might be aware of the Loan vs. FD feature.

Yes, instead of breaking your FD prematurely, for which banks tend to charge a premature withdrawal penalty in most cases, you can take out a loan on your FD, while your bank FD continues to earn interest during the deposit period.

Like securities loans, most lenders usually offer a loan against an FD in the form of an overdraft facility, so as a depositor you are only required to pay interest on the amount used from the sanctioned limit, and is billed until it is reimbursed. You can qualify for a loan of around 85% to 95% of the amount of the bank FD, with interest rates usually around 1% to 2% higher than the contract rate of the FD pledged as collateral.

Quite naturally, the duration of the loan against FD depends on the residual duration of the FD pledged, in addition to taking into account any particular minimum and maximum duration limits of any bank, if applicable.

Read also : Frequently Asked (Un)asked Questions – What are the risks of investing in “safe” bank FDs

4. Ownership

property loan
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Also read: Does it make sense to buy a house or rent one?

When hearing ownership and loan, the first thing that comes to mind is home loan, to the right? But no, we are not talking about a home loan here. A home loan is when a lender helps you buy a property you want to own, by availing a home loan from the bank or HFC.

But here, we are talking about loans on property (LAP). You take out a loan against an asset you already own (i.e. a property), whenever a monetary need arises, especially a large bill. LAP is offered by many lenders against property types such as residential, commercial and industrial. Some even offer it against plot/land.

The loan amount for the LAP would depend on the market value of the property and the LTV ratio offered by the financial institution, which is usually around 50% to 75%. In terms of tenure, the LAP can usually be paid off in 15 to 20 years.

So for homeowners who need funds due to a financial shortfall, especially a relatively large budget that might not be met by a personal loan or other loans, or simply cannot or cannot If you don’t want to take this route as a loan option, LAP can prove to be a helping hand. Additionally, there are no restrictions on the end use of the funds (except for speculative purposes). So you are free to use it for personal purposes like child marriage or higher education, or for business purposes like working capital.

When it comes to pledging property for funds, another loan facility is the Reverse Mortgage Facility, which is specially designed for senior citizens in need of funds. You can read about it in detail in this article.

Apart from these assets against which you can take a loan when needed, few lenders in India also offer the facility of loan against carin which you can benefit from funds by committing your car. Depending on the market value of your vehicle, a percentage of it will be offered to you as a loan to meet your financial needs.

Plus, if you have a credit card, you can get the super benefit of a credit card loan. Click here to learn more in this article.

Read also : Is it wise to buy a house or rent one?

For more great content and the latest financial news, keep reading Worth. Click here

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How to Apply for a Home Loan Online: The Process https://tedxyouthcaltech.com/how-to-apply-for-a-home-loan-online-the-process/ Wed, 15 Dec 2021 09:16:56 +0000 https://tedxyouthcaltech.com/how-to-apply-for-a-home-loan-online-the-process/ [ad_1] Given the impact of this financial decision, mortgage applicants should be careful about which lender they choose to borrow from and the mortgage application process itself. Although the application process is not very complex, it must be ensured that it follows it to the end and that it meets the prescribed eligibility criteria, which […]]]>


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Given the impact of this financial decision, mortgage applicants should be careful about which lender they choose to borrow from and the mortgage application process itself. Although the application process is not very complex, it must be ensured that it follows it to the end and that it meets the prescribed eligibility criteria, which are specific to each credit institution.

However, thanks to the digital transformation of the mortgage industry, all the information you need about your home loan is available online, allowing you to research and perform your due diligence before applying. And not only that, industry leaders such as Bajaj Housing Finance Limited even offer online apps – taking the entire home loan borrowing journey online, with very little physical interaction at a time when the distancing social is the need of the hour. People who apply through the lender’s online home loan application form can also get a digital sanction letter. The entire form takes around 10 minutes to complete and only asks for basic details.

In this article, we explain everything you need to know before applying for a home loan online.

Home loan eligibility criteria

The first thing any mortgage candidate should take a close look at is their mortgage eligibility. Each lender has a list of applications that they expect applicants to respond to, after which they can approve their loan application. The parameters include age, credit rating, repayment capacity, income, and obligation, among others.

Applicants are advised to check their eligibility beforehand to see how they stack up against the lender’s criteria and only then apply. This can help find the most suitable mortgage for their repayment capacity and increase their chances of being approved. Applicants should note that their credit rating is also hampered if their home loan application is rejected – so be sure of their chances of being approved before applying.

Mortgage interest rate

Another important point to consider when looking for the right home loan is the applicable interest rate. The interest rate is fundamental in determining the cost of your mortgage and how you can plan your finances. Lenders offer two types of interest rates on home loans to eligible applicants namely fixed and floating.

1. Fixed interest rate: If you opt for a fixed interest rate, you isolate your mortgage EMI from market fluctuations. As the name suggests, the interest rate stays the same throughout the term or until a reset date. However, the fixed interest rate is usually a bit higher than the floating interest rate.

2. Floating interest rate: As its name suggests, this interest rate is linked to an internal / external benchmark and is subject to change depending on the market. This rate is not only lower than the fixed interest rate, it also allows the borrower to benefit from favorable market conditions resulting in lower interest rates and smaller EMIs. Reputable lenders such as Bajaj Housing Finance offer home loans to salaried and professional applicants with floating interest rates starting at 6.70% * per annum, based on eligibility.

Calculate the EMI of the mortgage

Every aspiring home loan must take stock of their repayment capacity and calculate their possible home loan EMI to see if it is an amount that they can repay comfortably over a long period of time. It is important to have an interim repayment schedule in place as it helps you plan your long-term financial goals, as well as keep track of your EMI exits, reducing the risk of default.

The first step in planning your repayment is determining the loan amount you need from your lender. An applicant can generally achieve significant value if they have a strong financial, income and credit profile and can meet the eligibility criteria as required. After deciding on your loan amount, you will need to set the loan term over which you will repay the loan. There are several factors to consider, such as your age at time of borrowing, your EMI-to-income ratio, and your financial profile.

Using a home loan calculator makes it easier for you to predict your potential home loan IMEs. Bajaj Housing Finance Mortgage Calculator is a free, easy-to-use digital tool that allows borrowers to adjust their loan amount, loan term, and interest rate as they see fit, to get a realistic picture. what their IMEs might change to. be – which shows them if they can afford the mortgage they want.

How to apply for a home loan online

The online mortgage application path hosted by market leaders such as Bajaj Housing Finance Limited is easy to follow and efficient – saving you time and effort while you are applying for a mortgage. Here is how to apply for a mortgage online:

– Go to the website of your lending institution and access their mortgage application online

– Select the loan product that interests you

– Provide the basic details requested on the form – your name, income details, ID, proof of address and co-applicant details (if required)

– Adjust the loan amount, duration and preferred interest rate according to your needs

– Check out pre-approved offers and special benefits tailored for you

– Download the other documents and necessary documents before finalizing the request

Many lenders also provide on-call assistance, with a customer service consultant who can help you through the process. Toll-free telephone numbers are also available to make the process easier for the borrower.

Conclusion

In the post-pandemic world, applying for a home loan online has been of tremendous benefit to borrowers and lenders. This move towards digitalization also gives the borrower full control over their application and makes their borrowing experience hassle-free.

If you are looking for a home loan, consider opting for Bajaj Housing Finance Limited online home loan which is designed for maximum affordability and convenience. One can complete the form in just 3 steps and get a digital sanction letter in as little as 10 minutes.

Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in the creation of this content.

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(QTT), Sohu.com Inc. (NASDAQ: SOHU) – Qutoutiao reverse split scares Wall Street https://tedxyouthcaltech.com/qtt-sohu-com-inc-nasdaq-sohu-qutoutiao-reverse-split-scares-wall-street/ Tue, 07 Dec 2021 23:05:00 +0000 https://tedxyouthcaltech.com/qtt-sohu-com-inc-nasdaq-sohu-qutoutiao-reverse-split-scares-wall-street/ [ad_1] Key points to remember: Money-losing Qutoutiao announced a reverse 10-to-1 split of its shares to bring its stock above the $ 1 level required by the Nasdaq The move sparked a massive sell off in its shares as investors worried about a big loan coming next April By Doug Young To give up ? […]]]>


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Key points to remember:

  • Money-losing Qutoutiao announced a reverse 10-to-1 split of its shares to bring its stock above the $ 1 level required by the Nasdaq
  • The move sparked a massive sell off in its shares as investors worried about a big loan coming next April

By Doug Young

To give up ?

It’s probably too early to say this about China’s No.2 news aggregator which is rapidly fading Qutoutiao Inc.(NASDAQ: QTT). But investors increasingly seem to think that a shutdown or a discount of the company may well be in the pipeline, based on their reaction to Qutoutiao’s move. announcement at the end of last week of a reverse stock split.

This move was quite routine, aimed at bringing Qutoutiao’s US Depository Shares (ADS) above the $ 1 level to bring them into compliance with Nasdaq rules. Although the market value of the company has steadily declined this year, its current market capitalization of over $ 100 million is still quite large and should be sufficient for continued listing.

The reverse split will see the company’s ADS ratio change from the current four ADS for each Class A common share to a new ratio of two ADS for five Class A shares. This results in a reverse share split of 10 to 1. So, based on the last ADS close at $ 0.3864, the new stock price would rise tenfold to $ 3.864 when the change goes into effect on Friday.

While it all sounds pretty routine, investors didn’t see it that way. The stock was trading at $ 0.60 before the announcement, which means it has lost around 35% of its value in the last three trading days. This isn’t exactly an encouraging sign from investors, it’s what led to our opening remark that some may be starting to expect an end soon for the company.

In fact, such an end doesn’t necessarily have to result in the complete shutdown of Qutoutiao, but could instead involve a sale of the business – something we’ll discuss in more detail shortly.

Founded in 2016 and listed since 2018, Qutoutiao was once a rising star in China’s news apps scene, securing its solid second place but far behind ByteDance-owned industry giant Jinri Toutiao in focusing on consumers in small towns in China. But the company’s business model of spending heavily to acquire users has proven unsustainable, leaving Qutoutiao, whose name means ‘fun headlines,’ to focus this year on customer retention rather than strong growth. the number of users.

Added to the company’s problems are recent signals from Beijing that the government may be preparing to crack down on independent news companies. Such a decision would have far greater consequences for Jinri Toutiao and the main operators of information portals such as Sina, Sohu (NASDAQ: SOHU), NetEase (NASDAQ: NTES; 9999.HK) and Tencent(0700.HK). But it could also put smaller names like Qutoutiao in a difficult position.

The most immediate problem for Qutoutiao is a 1.2 billion yuan ($ 188 million) convertible loan maturing next April that the company mentioned in its last two quarterly reports as posing a challenge. This loan is likely to be a topic of discussion again in its next report for the third quarter, which is expected to be released in the next week or two.

“Given the size of the loan, there is uncertainty as to the ability of the company to repay the convertible loan at maturity, which raises substantial doubt about the ability of the company to continue operating,” said he declared in his second quarter report back in September. This wording is fairly standard when there is a possibility that a company thinks it needs to go out of business.

Friend at Alibaba?

The loan behind Qutoutiao’s existential dilemma was provided by Ali Baba (NYSE: BABA; 9988.HK) during a better period for the company in March 2019. At the time, Alibaba viewed the loan as a strategic decision due to its option to convert the amount into approximately $ 11.4 million. ‘ADS Qutoutiao at $ 15 a piece, or the equivalent of about 4% of the business.

Of course, converting the loan into Qutoutiao shares is now out of the question. But there is still the possibility that Alibaba will negotiate an agreement to cancel the loan in exchange for most or all of Qutoutiao. This could explain the current market value of Qutoutiao, which, at $ 111 million, is close, although still a little lower, to the loan amount.

One snag on such a deal could be the recent pressure on Alibaba to divest itself of some or all of its media assets, which comes from officials in Beijing worried about the company’s great influence. This pressure is said to have prompted Alibaba to sell the Hong Kong-based South China Morning Post, one of Asia’s leading English-language newspapers, which Alibaba bought in 2015.

In such a context, an acquisition of Qutoutiao by Alibaba seems unlikely. Other buyers may also be reluctant to make such an acquisition due to the current uncertainty surrounding private information providers in China.

From a purely financial standpoint, Qutoutiao’s situation actually looks relatively stable after moving to a more conservative spending strategy this year. The company had 400 million yuan in cash and cash equivalents and an additional 39 million yuan in restricted cash at the end of June, as well as 600 million short-term investments – which collectively is close to the amount she would need to repay the loan. .

In terms of financial performance, most of the company’s key metrics are currently contracting due to reduced spending on acquiring new users. Qutoutiao’s revenue began to contract in the third quarter of last year, and its most recent report showed the figure fell 16.6% year-on-year in the second quarter of this year to 1.2. billion yuan.

Its combined monthly average users (MAU) fell 3.1% year-on-year in the quarter to 132.3 million, while its daily average users fell 32.3% to 29.1 million. Due to more cautious spending, the company’s net loss for the second quarter actually narrowed slightly to 209.5 million yuan, from a loss of 222.1 million yuan a year earlier.

At this point, only one analyst surveyed by Yahoo Finance is following the company. But this person currently predicts that the company should finally make a profit next year. In this case, it really looks like time is running out to reach that important milestone before the convertible loan matures in April.

If it can do so, it is still quite possible that Qutoutiao will get new funding to repay the loan in order to continue as a stand-alone business. But a more preferred option would be selling the business, as it really does appear that Qutoutiao is too small and operates in too uncertain an environment to survive on its own for the long term.

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Money Guru: How To Get An Online Business Loan? Top 5 Ways Explained Here https://tedxyouthcaltech.com/money-guru-how-to-get-an-online-business-loan-top-5-ways-explained-here/ Tue, 07 Dec 2021 13:54:51 +0000 https://tedxyouthcaltech.com/money-guru-how-to-get-an-online-business-loan-top-5-ways-explained-here/ [ad_1] If you are looking to start your business or expand your business, you might be wondering how to get financing? Where will you get the loan from? To get the answers to all these questions, Zee Business presenter Swati Raina on the ‘Money Guru’ show spoke with Mahesh Shukla, founder of Pay Me India, […]]]>


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If you are looking to start your business or expand your business, you might be wondering how to get financing? Where will you get the loan from? To get the answers to all these questions, Zee Business presenter Swati Raina on the ‘Money Guru’ show spoke with Mahesh Shukla, founder of Pay Me India, to understand the key details of ‘5 Ways to ‘get a loan for your business’.

What is a business loan?

Responding to Swati Raina’s question, Mahesh Shukla said, “Business loan, as the name suggests, is a loan taken for the purpose of starting a business or expanding the business.”

How do I get a business loan?

Shukla answered this question by Raina as “The process and steps include: –

-Fill in the application form
-Form submitted to bank or NBFC
-The bank will evaluate the form
-Perhaps a bank representative will physically contact you and inspect your home and office. This is called -PD (Probability of default)
-Then they will check your buro offline.
-And then they will send a confirmation that your business loan is approved.
-Then you will have to accept the terms and conditions which include the ROI (Return of Investment)
-Finally, the loan agreement will be signed and you will get the money.

Which entities are eligible for the loan?

Responding to this question, Mahesh said, “Businesses, startups and established businesses are eligible for business loans. ”

Online business loan

Responding to Swati Raina’s question about how easy it is to get a loan online, Shukla said, “Taking a loan online has now become easier thanks to digitization. There are many online companies like Pay Me India where we give you money completely digitally. So you don’t have to come to our branch. He then added: “Digital loans have small banknotes and for large banknotes the physical meeting is important.”

Government programs for small business start-ups

Swati asked which government program has been proven to be effective in starting a new business, to which Mahesh replied, “If you want to start your business on a small scale, the Mudra loan is an effective and efficient program. The penalty rate of the Mudra loan is also very high.

Raina, while speaking to Shukla, said: “In the Mudra loan you will get an amount of Rs 50,000 – Rs 10 lakh in the form of a loan and a private / public bank, commercial banks, Gramin banks, small financial banks and corporate banking will sanction your loan in this program. “

For more details: WATCH THE FULL VIDEO here: –

Shukla added, “Stand-up India is also a very good government start-up program.


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How to get instant loan online in India https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india-4/ Thu, 25 Nov 2021 13:22:00 +0000 https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india-4/ [ad_1] https://ift.tt/2zaxEZA Business Wire IndiaIn an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option. Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take […]]]>


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https://ift.tt/2zaxEZA

Business Wire India
In an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option.

Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days or weeks to process, now for existing customers, online banking or the mobile app ensures these can be obtained quickly.

As for the private banks, they offer personal loans to a select clientele in a few minutes. Many offer pre-approved loans to long-time clients with excellent repayment records and healthy credit scores. If a potential borrower has a working bank account and a fixed salary / income, they can apply for a personal loan. Besides the regular KYC documents, no additional documents are required. Once approved, disbursement will take place on the same day at the earliest. However, still for new bank customers it takes some time, has to go through a rigid subscription / approval process

However, new-age fintech entities are pros at disbursing instant loans within minutes if an applicant provides all the relevant information / documents. From traditional banks to new age lenders, borrowers can check their instant loan eligibility online through the relevant portal. Moreover, instant loans can be obtained online from the comfort of one’s own home without visiting a physical branch. New Age Fintechs Deliver On-the-Go Loans with Simple Application Process, Personalized Underwriting / AI-Based Decisions, and Digital Documents

Interest rates on instant personal loans vary among lenders, depending on your credit rating and repayment behavior. If you have an outstanding personal loan from a lender, you can qualify for an instant top-up loan on the existing amount. Again, there is minimal documentation and quick disbursement. High-risk clients can also get smaller loans to use as needed and then repay them easily. It helps build a credit profile or improve existing bad credit history.

Banks, NBFCs and new-age lending platforms offer instant loans ranging from Rs 15,000 to Rs 10 lakh, depending on the risk profile and credit rating of the client.

Here are five tips to increase the chances of your instant loan approval online:

  1. Maintain a healthy credit rating

A credit score of 750 and above is essential for the approval of your instant loan application. The credit score reflects your credit usage and repayment history. A great score indicates that you are making timely refunds and that you are a creditworthy customer. While customers with a lower credit score may still be offered an instant loan, the interest rates are higher. The higher the score, the greater your chances of getting approval on favorable terms.

  1. Check your eligibility and requirements before applying

Different lenders have different eligibility criteria. Check them to make sure you are eligible. Understand the amount of personal loan you need and calculate the EMI that you can repay comfortably while choosing the most suitable term. Personal loan calculators are available online, helping you understand potential EMIs for specific amounts and terms. Never ask for more than what you need, even if you are eligible.

  1. Keep all documents ready to be uploaded beforehand

All required documents such as bank statements, proof of address and identity, photographs, etc. must be ready to download when you access the lender portal for instant loan. Before applying, it makes sense to store these images on your device to save time. Thus, the online loan application process can be completed uninterrupted within minutes. Some platforms also offer the option to complete KYC verification via digital mode where your KYC details are fetched from the original sources and you do not need to provide any additional details. It is necessary that you provide correct information to verify throughout this process.

  1. Read the fine print ahead of time

Before digitally signing an online loan agreement for your instant loan, make sure you know all the terms and conditions as well as the fees. Thus, you will not encounter any unpleasant surprises afterwards.

  1. Always provide accurate information

Correct factual information can increase the chances of approval on more favorable terms. But any false or inaccurate information will result in your application being rejected as online lenders will use multiple digital sources to verify details are correct.

In the meantime, if you are looking for quick and hassle-free personal loans online, Clix Capital has some of the best deals out there. If all your information / papers are ready, you can qualify for an instant personal loan. This could be used for various purposes. Check the loans available with Clix Capital. You can also check your credit score for free on the Clix website.

The range of Clix personal loans includes those for:

Debt Consolidation: Various debts can be consolidated into one high-value personal loan, which makes repayment easier.

Medical emergency: Such emergencies may require immediate funding, as adverse health events can occur without warning.

Renovation of the house: This instant personal loan can help turn your home into a dream home.

Higher Education: If your child is considering opting for higher education in India or abroad, an instant personal loan will provide full financial support to get the best education possible.

Wedding costs: Your special day can become super special thanks to the personal loan from Clix Capital which covers all the high-end expenses for a big wedding.

Travel expenses: Meet all pending travel goals for a memorable vacation with a personal loan that covers all travel-related expenses.

If you are between 25 and 58 years old and have a credit score of 690 or higher, you are eligible for a Clix Capital personal loan of up to Rs10 lakh. If you are salaried, your minimum income should be Rs. 25,000 per month, with a minimum office vintage of 2 years. Clix’s personalized repayment options vary between 24 and 60 months, so you don’t have any repayment issues.

If the information provided is correct, you will get instant approval and the loan amount approved can be credited to your bank account within minutes, subject to certain conditions. To clarify, if your KYC is updated with Aadhaar or PAN, documents can be verified online simply by providing a few necessary details. Check your eligibility with Clix Capital.

Note that you can use the personal loan for any purpose. Being unsecured loans, no collateral or guarantor is required. Thanks to all these advantages and a customer-centric approach, Economic times recognized Clix Capital as one of the top 2021 BFSI brands.

Finally, simply choose Clix Capital’s Personal Loan EMI Calculator to select the appropriate amount, term, and EMI based on your repayment capacity. Without a doubt, instant personal loans are now the most convenient financing option in emergencies and at other times.

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How to get instant loan online in India https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india-2/ Thu, 25 Nov 2021 12:17:38 +0000 https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india-2/ [ad_1] Available for multiple purposes as needed, instant personal loans, no in-branch physical visit required, just a click away. New Delhi, Delhi, India – Business Wire India In an emergency you may need short term funds. In such cases, the instant loans available online in the form of personal loans are the best option. Instant […]]]>


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Available for multiple purposes as needed, instant personal loans, no in-branch physical visit required, just a click away.

New Delhi, Delhi, India – Business Wire India In an emergency you may need short term funds. In such cases, the instant loans available online in the form of personal loans are the best option.

Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days or weeks to process, now for existing customers the online banking or mobile app ensures these can be obtained quickly.

As for the private banks, they offer personal loans to a select clientele in a few minutes. Many offer pre-approved loans to long-time clients with excellent repayment records and healthy credit scores. If a potential borrower has a working bank account and a fixed salary / income, they can apply for a personal loan. Besides the regular KYC documents, no additional documents are required. Once approved, disbursement will take place on the same day at the earliest. However, always for new bank customers it takes some time, has to go through a rigid subscription / approval process. From traditional banks to new age lenders, borrowers can check their instant loan eligibility online through the relevant portal. Moreover, instant loans can be obtained online from the comfort of one’s own home without visiting a physical branch. New age fintechs offer on-the-go loans with an easy application process, personalized underwriting / AI-driven decisions, and digital documents. Interest rates on instant personal loans vary among lenders, depending on your credit rating and repayment behavior. If you have an outstanding personal loan from a lender, you can qualify for an instant top-up loan on the existing amount. Again, there is minimal documentation and quick disbursement. High-risk clients can also get smaller loans to use as needed and then repay them easily. It helps build a credit profile or improve existing bad credit history.

Banks, NBFCs and new age lending platforms offer instant loans ranging from Rs 15,000 to Rs 10 lakh, depending on the risk profile and credit rating of the client.

Here are five tips to increase the chances of your instant loan approval online: 1. Maintain a healthy credit score A credit score of 750 and above is essential for the approval of your instant loan application. The credit score reflects your credit usage and repayment history. A great score indicates that you are making timely refunds and that you are a creditworthy customer. While customers with a lower credit score may still be offered an instant loan, the interest rates are higher. The higher the score, the greater your chances of getting approval on favorable terms.

2. Check Your Eligibility and Requirements Before Applying Different lenders have varying eligibility criteria. Check them to make sure you are eligible. Understand the amount of personal loan you need and calculate the EMI that you can repay comfortably while choosing the most suitable term. Personal loan calculators are available online, helping you understand potential EMIs for specific amounts and terms. Never ask for more than what you need, even if you are eligible.

3. Keep all documents ready for pre-upload. All required documents such as bank statements, proof of address and identity, photographs, etc. must be ready to download when you access the lender portal for instant loan. Before applying, it makes sense to store these images on your device to save time. Thus, the online loan application process can be completed uninterrupted within minutes. Some platforms also offer the option to complete KYC verification via digital mode where your KYC details are fetched from the original sources and you do not need to provide any additional details. It is necessary that you provide correct information to verify throughout this process.

4. Read the fine print in advance Before digitally signing an online loan agreement for your instant loan, make sure you know all the terms and conditions as well as the fees. Thus, you will not encounter any unpleasant surprises afterwards.

5. Always Provide Accurate Information Correct factual information can increase the chances of approval on more favorable terms. But any false or inaccurate information will result in your application being rejected as online lenders will use multiple digital sources to verify details are correct.

In the meantime, if you are looking for quick and hassle-free personal loans online, Clix Capital has some of the best deals out there. If all your information / papers are ready, you can qualify for an instant personal loan. This could be used for various purposes. Check the loans available with Clix Capital. You can also check your credit score for free on the Clix website.

The range of Clix personal loans includes those for: Debt Consolidation: Various debts can be consolidated into one high value personal loan, making repayment easier.

Medical emergency: Such emergencies may require immediate funding, as adverse health events may occur without warning.

Home Improvement: This instant personal loan can help turn your home into a dream home.

Higher Education: If your child is considering opting for higher education in India or abroad, an Instant Personal Loan will provide full financial support to get the best education possible.

Wedding Expenses: Your special day can become super special with the Clix Capital personal loan which covers all the high end expenses for a big wedding.

Travel Expenses: Meet all long-standing travel goals for a memorable vacation with a personal loan that covers all travel-related expenses.

If you are between 25 and 58 years old and have a credit score of 690 or higher, you are eligible for a Clix Capital personal loan of up to Rs10 lakh. If you are salaried, your minimum income should be Rs. 25,000 per month, with a minimum office vintage of 2 years. Clix’s personalized repayment options vary between 24 and 60 months, so you don’t have any repayment issues.

If the information provided is correct, you will get instant approval and the loan amount approved can be credited to your bank account within minutes, subject to certain conditions. To clarify, if your KYC is updated with Aadhaar or PAN, documents can be verified online simply by providing a few necessary details. Check your eligibility with Clix Capital.

Note that you can use the personal loan for any purpose. Being unsecured loans, no collateral or guarantor is required. With all of these benefits and a customer-centric approach, The Economic Times recognized Clix Capital as one of the top BFSI 2021 brands.

Finally, simply choose Clix Capital’s Personal Loan EMI Calculator to select the appropriate amount, term, and EMI based on your repayment capacity. Without a doubt, instant personal loans are now the most convenient financing option in emergencies and at other times.

About Clix Capital Clix Capital is a new era of NBFC that is revolutionizing the lending space by delivering differentiated digital lending products that are powered by technology and deep analytics. It offers a range of loan products to a diverse range of clients in the MSME and consumer segment, including personal loans, MSME loans, health loans and mortgage finance.

Clix is ​​co-founded by industry veterans Mr. Pramod Bhasin and Mr. Anil Chawla and is backed by a private equity fund AION Capital Partners Limited (a subsidiary of Apollo Global Management, LLC – one of largest alternative investment managers in the world with AUMs of $ 433 billion). Mr. Bhasin is the founder of Genpact and the former CEO of GE Capital India and Asia; and Mr. Chawla was the former CEO of GE Capital India and Asia’s Commercial Finance Business.

Together, Mr. Bhasin, Mr. Chawla and AION jointly acquired the commercial lending and leasing business of GE Capital India in September 2016 and renamed it Clix Capital.

For more information, please visit www.clix.capital PWR PWR

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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How to get instant loan online in India https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india/ Thu, 25 Nov 2021 11:39:00 +0000 https://tedxyouthcaltech.com/how-to-get-instant-loan-online-in-india/ [ad_1] Business Wire IndiaIn an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option. Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days […]]]>


[ad_1]

Business Wire India
In an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option.

Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days or weeks to process, now for existing customers the online banking or mobile app ensures these can be obtained quickly.

As for private banks, they offer personal loans to a select clientele in a few minutes. Many offer pre-approved loans to long-time clients with excellent repayment records and healthy credit scores. If a potential borrower has a working bank account and a fixed salary / income, they can apply for a personal loan. Besides the regular KYC documents, no additional documents are required. Once approved, disbursement will take place no earlier than the same day. However, still for new bank customers it takes a while, must go through a rigid subscription / approval process

However, new-age fintech entities are pros at disbursing instant loans within minutes if an applicant provides all the relevant information / documents. From traditional banks to new age lenders, borrowers can check their instant loan eligibility online through the relevant portal. Moreover, instant loans can be obtained online from the comfort of one’s own home without visiting a physical branch. New Age Fintechs Deliver On-the-Go Loans with Simple Application Process, Personalized Underwriting / AI-Based Decisions, and Digital Documents

Interest rates on instant personal loans vary among lenders, depending on your credit rating and repayment behavior. If you have an outstanding personal loan from a lender, you can qualify for an instant top-up loan on the existing amount. Again, there is minimal documentation and quick disbursement. High-risk clients can also get smaller loans to use as needed and then repay them easily. It helps build a credit profile or improve existing bad credit history.

Banks, NBFCs and new age lending platforms offer instant loans ranging from Rs 15,000 to Rs 10 lakh, depending on the risk profile and credit rating of the client.

Here are five tips to increase the chances of your instant loan approval online:

  1. Maintain a healthy credit rating

A credit score of 750 and above is essential for the approval of your instant loan application. The credit score reflects your credit usage and repayment history. A great score indicates that you are making timely refunds and that you are a creditworthy customer. Although customers with a lower credit score may still be offered an instant loan, the interest rates are higher. The higher the score, the greater your chances of getting approved on favorable terms.

  1. Check your eligibility and requirements before applying

Different lenders have different eligibility criteria. Check them to make sure you are eligible. Understand the amount of personal loan you need and calculate the EMI that you can repay comfortably while choosing the most suitable duration. Personal loan calculators are available online, helping you understand potential EMIs for specific amounts and terms. Never ask for more than what you need, even if you are eligible.

  1. Keep all documents ready to be uploaded beforehand

All required documents such as bank statements, proof of address and identity, photographs, etc. must be ready to download when you access the lender portal for instant loan. Before applying, it makes sense to store these images on your device to save time. Thus, the online loan application process can be completed uninterrupted within minutes. Some platforms also offer the option to complete KYC verification via digital mode where your KYC details are fetched from the original sources and you do not need to provide any additional details. It is necessary that you provide correct information to verify throughout this process.

  1. Read the fine print ahead of time

Before digitally signing an online loan agreement for your instant loan, make sure you know all the terms and conditions as well as the fees. Thus, you will not encounter any unpleasant surprises afterwards.

  1. Always provide accurate information

Correct factual information can increase the chances of approval on more favorable terms. But any false or inaccurate information will result in your application being rejected as online lenders will use multiple digital sources to verify details are correct.

In the meantime, if you are looking for quick and hassle-free personal loans online, Clix Capital has some of the best deals out there. If all your information / papers are ready, you can qualify for an instant personal loan. This could be used for various purposes. Check out the loans available with Clix Capital. You can also check your credit score for free on the Clix website.

The range of Clix personal loans includes those for:

Debt Consolidation: Various debts can be consolidated into one high-value personal loan, which makes repayment easier.

Medical emergency: Such emergencies may require immediate funding, as adverse health events can occur without warning.

Renovation of the house: This instant personal loan can help turn your home into a dream home.

Higher Education: If your child is considering opting for higher education in India or abroad, an instant personal loan will provide full financial support to get the best education possible.

Wedding costs: Your special day can become super special thanks to the personal loan from Clix Capital which covers all the high end expenses for a big wedding.

Travel expenses: Achieve all pending travel goals for a memorable vacation with a personal loan that covers all travel-related expenses.

If you are between 25 and 58 years old and have a credit score of 690 or higher, you are eligible for a Clix Capital personal loan of up to Rs10 lakh. If you are salaried, your minimum income should be Rs. 25,000 per month, with a minimum office vintage of 2 years. Clix’s personalized repayment options range from 24 to 60 months, so you don’t have any repayment issues.

If the information provided is correct, you will get instant approval and the loan amount approved can be credited to your bank account within minutes, subject to certain conditions. To clarify, if your KYC is updated with Aadhaar or PAN, documents can be verified online simply by providing a few necessary details. Check your eligibility with Clix Capital.

Note that you can use the personal loan for any purpose. Being unsecured loans, no collateral or guarantor is required. Thanks to all these advantages and a customer-centric approach, Economic times recognized Clix Capital as one of the top 2021 BFSI brands.

Finally, simply choose Clix Capital’s Personal Loan EMI Calculator to select the appropriate amount, term, and EMI based on your repayment capacity. Without a doubt, instant personal loans are now the most convenient financing option in emergencies and at other times.

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