Are you urgently needing cash but do not want to apply for high-interest Loans? Have you considered Gold Loans? Many people do not realise that their gold jewellery or coins can be used as collateral. It is often an affordable option than traditional Loans. Gold Loans let you borrow money against the value of your gold, which is held as collateral until you repay the Loan.

Unlike other Loans, there are no credit checks or income verification required. This is an excellent option for…

The age-old debate of whether to buy or rent a home has been discussed for many years. While both options have advantages, owning a house has been the goal for many. Homeownership offers a sense of accomplishment, security, and stability that renting simply cannot match.

Here are the top reasons people prefer buying a house to renting one. From building equity and financial benefits to the freedom and personalisation that comes with homeownership, here is why people prefer owning a…

Are you tired of calculating your Home Loan interest rates manually? Do you constantly guess how much you need to pay each month? Then you need to start using the Home Loan interest calculator. This powerful tool removes all guesswork out of the equation and accurately estimates your monthly payments. It also helps you save money by comparing different Loan options and finding the best interest rates.

So, whether you are a new homebuyer or looking to refinance, using an interest…

To promote entrepreneurship and small businesses in India, the government launched the Mudra Loan scheme in 2015. Mudra refers to Micro Units Development and Refinance Agency. The scheme helps small businesses and entrepreneurs starting or expanding their ventures. The scheme offers Loans to micro and small enterprises up to Rs. 10 lakh. Here is a guide to understanding the Mudra Loan application process in India.

Identify the Loan type

There…

Interest rates play a crucial role in the financial management of any business, and this is particularly true when it comes to Business Loans. The interest rate or the borrowing money is the price that the lender charges the borrower for the use of the funds. The significance of Business Loan interest rates cannot be overstated as they can affect a business's financial health in several ways:

Cost of borrowing

 …

Applying for Business Loans are common for small and large businesses. However, before applying for a Loan, you need to consider certain aspects to ensure the Loan is suitable for your business. These factors include:

Identify the Loan purpose

Identifying the Loan purpose helps you choose the right Loan and the right lender and the repayment period of your Business…

A Micro-Units Development and Refinance Agency Loan are provided under an Indian Government scheme called the Pradhan Mantri Mudra Yojana or PMMY. It was initiated in 2015 to help small-scale businesses succeed and expand. Companies and businesses belonging to both the non-profit and profit sectors can secure a Loan under this.

Types

The PMMY scheme makes it eligible for applicants to avail of Business Loans ranging from Rs. 50,000 up to Rs. 10 lakh. Based on…

Businesses need capital to operate. This is utilised to leverage their working capital, pay for new equipment, cover the salaries of employees, etc. However, sometimes firms might not have enough funds to pay for expansion, modernisation, carrying out day-to-day requirements, etc. This is when the need to raise capital arises and can be done in two ways, by venture funding or by applying for a Business Loan.

A Business Loan is a Secured Loan offered by banks in India to businesses.…

Whether it is small or big, every business requires funds to grow and stay relevant in the long run. However, to do this firms need an adequate corpus of funds which may not be always available. This is when borrowing money becomes the only viable option. While some companies may go ahead with offering Equities to raise external funding, others might stick to applying for a Business Loan.

Business Loan meaning

A…

Initiated in 2015 by the NDA government, the Pradhan Mantri Micro Units Development and Refinance Agency Yojana primarily aim at extending financial help to the small and medium business sector, including non-farm and non-corporate companies. They are struggling for the financial aid necessary to begin and grow their business.

The Reserve Bank of India has fixed the Business Loan interest rates to the base…

Women entrepreneurs are the major reason India is witnessing growth. From healthcare, finance, and education to technological developments, females are establishing and running businesses like never before. We are seeing a tremendous transformation in this section in both urban and rural areas. Moreover, the government is also coming up with several schemes for women entrepreneurs to support their dreams.

The best decision is to apply for a…

Many micro, small, medium, or large enterprises in India may have the potential to contribute significantly to the economy but are struggling due to low funding. Mudra is an abbreviation for Micro-Units Development and Refinance Agency, a credit-funding scheme that provides financial aid to enterprises through a Loan.

The Indian Government has put in place the Pradhan Mantri Mudra Yojana scheme to help…

Starting your own business has several benefits, you can earn more than your monthly salary, you can follow your passion, and potentially create an empire one day. To start and scale your business, making an investment is necessary. At times, the funds required to start or expand your business could be a lot more than what your savings can provide. That is when you should apply for a Business Loan. It is an ideal source of formal funds.

Business Loans have a simple eligibility…

For years now we have all turned to banks to meet our various financial requirements. Whether you need funds to meet a medical emergency or finance your dream of higher education, banks offer Loans for all. You can avail of the required amount at a competitive interest rate and repay it easily as equated monthly instalments. Loans have let you out with so many fixes and helped realise so many dreams.

Besides helping you financially, banks offer Loans to meet your business needs.…

Whether you are just starting or looking to expand your well-established business, one challenge faced by all owners is financing. Formal source of financing is necessary. It allows you to get the required amount at a fair interest rate and repayment terms. You can systematically repay the borrowed amount in equated monthly instalments as per your affordability.

Business Loans are curated keeping in mind the requirement of today’s business owners. It has a simple eligibility criteria.…

There are different types of Zero-Balance Accounts to choose from. Each has its set of features and benefits. It is necessary that you do your research on each account to make sure it is the right fit for your needs. Savings Accounts are an excellent option for those who want to save money while still having access to their funds.

Checking Accounts is ideal for those who want to ensure their money is always available and can be used for everyday transactions. Money Market Accounts are…

Zero-Balance Accounts are becoming increasingly popular. This is because they do not require you to maintain a minimum balance. The concept of zero balance is for those who do not want to deal with the hassles of maintaining a minimum balance in their accounts.

With such accounts, you need not worry about the bank charging you penalties for not having a certain amount of funds in your account. These FAQs on the account should clear your doubts.

1. How to open a…

Do you want to open a New Bank Account but avoid the hassles of minimum balance maintenance? A Zero-Balance Account might be the right choice. Let us understand the benefits of opening one and how to make the most of it.

What is a Zero-balance Account?

This account is where you need not maintain any balance. It is an excellent option for those who do not earn much or those who want to open a Bank Account without worrying about paying any penalties. Under a…

To fulfil our several needs and wants, it is essential to have money. Along with a source of income, it is also necessary to save money. Saving money can not only help in meeting specific financial requirements but can also be helpful in during emergencies and unforeseen circumstances.

Earlier, one needed to store money in a locker or a safe place. With rapid advancements in technology and the widespread availability of the internet and smartphones, opening a…

Having a savings account offers a myriad of benefits to the account holder. One can not safely keep money in the bank but also earn interest, use online payment facilities, and avail of debit and credit cards and other facilities.

The widespread data accessibility has made online account opening an easy, quick, and hassle-free process. Although it is easy to open a bank account, one needs to keep certain…