Do you want to get rid of the stacks of cash from your wallet? Are you worried about the theft of the money? Do you want the mode of your payment to be safe and secure? The answer to all your problem is to get a credit card for yourself. The credit cards are one of the popular financial product that is equally necessary in the modern world. With the change in our buying habits the products the mode of payments is also evolving. The use of plastic money is gaining the popularity and the orthodox method of using the cash for payment purpose is an obsolete method.
The credit card is found in the rectangular shape made out of plastic material. It can be used to pay anything and anywhere. there are different types of credit cards that are offered by the credit card company and you can avail any card based on the reason for which you want the credit card. Benefits of credit card:
The valid and legal documents are required by the credit card company at the time of application. The documents asked by them is mentioned below:
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Most of the people aspire to live in the dream home but wait for the right time when they’ll be in a position to buy one with the wealth accumulated in the lifetime. Throughout the life, they save money in hope that one day they will own a house. But by the time they accumulate the amount, the economic condition change and prices soar. Which in turn results in further postponing the plans of moving into a self-owned home. Mind it, whenever you get a home of your choice just book it and the finance could be arranged easily by taking a home loan. There are number of banking and financial institutions that can assist you buying your dream home. But before choosing the financiers compare the housing loan interest rates charged by them. This will help you get the best deals and reduce the burden of repayment.
It is always advisable that the borrower must check the lending rates of various banks and housing companies before availing a credit facility. It is only after going through the rates and other product features that the borrower must select the lender and apply for the loan. The borrower must even calculate the repayment amount as this will help him plan the future expenses and save him from defaulting. The borrower can calculate the repayment amount by using the fixed deposit calculator. In the further article, the housing loan interest rates of various banks and the method of calculating interest is discussed. Home Loan Interest Rates Offered by Various Banks: The housing loan interest rates of various banks are as follows: State Bank of India- The State Bank of India offers home loans at an attractive rate of interest. It charges interest at both fixed and floating rates. The fixed rate of interest on the loan amount up to ₹ 30 Lacs for first 2 years for women borrowers is 8.50% p.a. and for others, it is 8.55% p.a. While the floating rate of interest is as follows:
These were the rates offered by some of the banking institutes. But now it is important to know how are these rates determined or what are the factors that affect the interest rates. The factors that contribute to the determination of housing loan interest rate are mentioned below: Factors Affecting Home Loan Interest Rate: Income- The income of the applicant is the major factor that helps in deciding the loan eligibility and the rate of interest. The salary or the revenue earned by the applicant during a financial year is a major concern of all the lenders. The applicants with high income get loans at an attractive rate of interest. Credit History- Another important factor that helps in deciding the lending rate is the credit history of the applicant. The applicant having clear records and good credit score are likely to get a loan at pleasing rates. Location of Property- Unlike other loans, in a home loan the location and the surroundings of property make much of a difference. Even the name of builder/agency you are purchasing home from impacts the eligibility and rate of interest. So, it is advisable to buy a house from the trusted builders. Value of Property - The value of property too affects the housing loan interest rates. Looking for a way that can help you increase your savings without working hard or taking a risk? An investment that can yield regular income and high interest at the end? Yes, an investment in fixed deposit makes all this possible. It is a way that helps the people to earn specified returns on the deposits made for a predetermined period of time. In short, Fixed deposits also known as term deposits are the investment plans in which the depositor pre-set the date of account expiration and receive the deposited amount along with the accumulated interest on the date of maturity. It is a better option of saving rather than depositing the money in the savings account. This is because the interest paid on term deposits is more than the interest paid on the savings account. It is also a better option because of the following advantages:
Features & Benefits of Fixed Deposit:
Now that you are familiar with the features and benefits of FD, it is likely that you would have developed an interest in investment in it. For this, you must check the eligibility criteria. Fixed Deposit Eligibility Criteria: There are no rigid criteria to open an FD account. All Indian residents belonging to the mentioned constitution can book an FD -
After checking the eligibility you need to apply for it. The application can be filed either online at the particular bank’s website or at the branch office. For availing the FD facility you need to fill an application form that comprises of the following sections: Fixed Deposit Application Form: The following fields are to be necessarily filled:
Along with the application form, the customer has to attach some documents according to the constitution he/she belongs to. The list of documents to be presented at the time of opening an account are as follows: 1. An Individual, Hindu Undivided Family, Sole Proprietorship Concern-
3. Associations/ Clubs
You can even compare the returns offered on the term investment made for the various period by using the FD calculator. It is an online device designed to calculate the maturity amount of the deposit. It computes the amount of interest accumulated on the investment at the rate prevalent on that tenure. The user just needs to enter the amount deposited, tenure and the rate of interest in the calculator. After processing the information it will tell the amount of interest accrued and the expiration value of the plan. Article Source: http://wishfinblogs.kinja.com/fixed-deposit-a-risk-free-investment-that-yields-bett-1792073688 |
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