Thursday, February 14, 2019

PRADHAN MANTRI MUDRA YOJANA

13/02/2019

MUDRA (Micro Unit Development & Refinance Agency) provides refinance to micro-business under the Scheme of Pradhan Mantri MUDRA Yojana. Indian economy is growing slowly and steadily and to support more and more small and medium enterprises NBFC’s have stepped in. They are in plan to provide financial support to as many as possible small and medium enterprises. These small medium enterprises include fruits & vegetable vendors, small fleet operators, repair & maintenance shops etc. To meet the requirement of such financial issues the banking standard measures will not get affected. These micro units are predominantly sole proprietorship or own account enterprises, a segment that usually fails to meet the stringent checks of banks for loans.

The financing scheme of PMMY has been divided into 3 major financing categories as Shishu, Kishor & Tarun. The division is done on the bases of fund required by the beneficiary for enhancing their enterprises or business.

MUDRA Yojana Offers

S.no	MUDRA Types	Loan Amount
1	Shishu	Covering loan up to Rs. 50,000/-
2	Kishor	Covering loan above 50,000 & up to 5 Lakh
3	Tarun	loan above 5 Lakh to 10 Lakh

Purpose of MUDRA Loan:

Equipment Finance for Micro Units
Business loan for shopkeepers, Vendors, Traders & other Service Sector activities
The working capital loan through MUDRA Cards
Transport Vehicle loans

Benefits of Mudra Yojana:

No minimum limit is set for MUDRA loans.
Applicant need not submit any security for availing MUDRA Loan
No processing charges are applicable
A loan can be availed by all small & medium enterprises who are engaged in the generation of income and employment
Loan amount acquired by the applicant can be utilized for different purposes since the loan facilitates its extend under Pradhan Mantri MUDRA Yojana

Funding Support of MUDRA Yojana/ loan is of 4 types

Women Enterprise programmed
Micro Credit Scheme for loans up to 1 lakh finance through MFIs
Refinance Scheme for Scheduled Co-operative Banks, Commercial Banks, and Regional Rural Banks
Securitization of a loan portfolio

MUDRA Yojana or Loan is a best business loan option for all those who are planning to run their business at large scale. Apply for a personal loan and fulfill your dreams under the guidance of the government. The government itself is promoting enterprises and business plan by empowering small medium enterprises, enterprising women and strengthening nation.

A go-to guide for to be Car Owners

Listening to the roar of an engine, seeing the spread of broad headlights and touching that glamorous interior in the new car is the real feel. Everyone lives with a dream of having their own car and it takes years of hard work an determination to fulfill the dream of your own car. There are various key factors one must take care of while applying for an Auto Loan. This blog is a go-to guide for to be car owners.

Do your Homework properly:

Yes, thorough research and collecting information about product and services won’t harm you infect save you from all those troubles in future. There are thousands of car dealers, schemes and loan providers, out of which some are fair some are not. When you plan to apply for an auto loan, always check scheme, offer, and deals provided by other dealers and banks for a better return. In case you don’t want to do it by yourself, hire an adviser.

Choose the right time to hit the right deal:

Every car dealer has their respective target to meet. Applicants need to wait for that right time when maximum offers and deals are brushed out. Mostly it’s an end of the year when the sales team struggle to meet their target, this is the right time when there is a scope to secure a sweet deal in your favor.

Say Yes to test Drive:

Because you have to go a million miles ahead so don’t settle for something you are not even sure about. Never ever make a final decision on the basis of outside appearance or just because you are getting a good deal. Things look good when they are served in a proper proportion. Check all offers & loan schemes when you apply for an auto loan in Delhi. Similarly, go for a test drive, get engine check by best mechanism, interior and scratch and any dent outside before signing the paper.

Don’t forget about Credit Score:

Your credit history plays a vital role in approving your auto loan request in any of the banks. If you hold a good credit score you will be surprised to see how many versatile options you will get. This will help you in getting lower interest rates and other benefits. In case you have never checked your credit score then know more about how to get CIBIL credit scores online.

Get your finance done:

Now that you have made up your mind about getting a car loan in Delhi NCR, there is a lot you can choose from. Although there are options for you but not every option is best suitable to meet your need. When you apply for an auto loan, check for terms & conditions, eligibility criteria, interest rates etc. Be very careful, while making the final decision of choosing loan type.

Car Insurance is spinal:

Like all other shopping, car insurance shopping is equally important. While doing so don’t just go and pick one randomly but put all your best of efforts because Insurance is very important. Don’t go for the cheapest one, explore the options, and choose the one with maximum cover fits.

Friday, January 18, 2019

It’s all about Financial Diet

Have you ever worked on the concept called financial diet? If your answer is no, then it’s time to check your financial diet just like your healthy diet. Yes, we are very much keen and concerned about our health diet similarly we need to be conscious of our financial diet. But the beauty of the entire concept is that it’s not that easy, like your Keto/GM health diet. One need to start slow with constant and consistent efforts, and the result will be definite. In this blog, we will talk about some of the basic planning for living healthy and financially secured life.

Track Your Expenses:

Yes, it will be good to start by tracking your daily, weekly, monthly and yearly expenditure. If you are planning to apply for Home Loan in Delhi, then right plan for desired amount saving is very much required. In most of the cases, there is no budget which means no financial planning. Which results in unwanted expenditure and investments. Budgeting can transform your life. So, it will be better to create a proper budget chart. A budget in place help exposing a leak in your wallet.

Don’t spend on Useless or unwanted stuff

Learn thoroughly about your budget sheet and once it’s in your mind, it’s time to start trimming unwanted investments or expected. Sometimes we didn’t realize the amount we are spending on online shopping, food takeaways or in supermarkets. These spendings prove huge or costly in long run, which we actually don’t realize. So, it will better if you will deduct unnecessary expenses or do a better spending planning.

Be more active in financial matters

If you are the sole earner in your family then you need to be very much active in financial matters. There are many small and big financial decision s that need to be taken carefully. Making the right investment, choosing the right plan for financial security, kid’s education, home loan, auto loan, tax planning etc are much better than doing the unsecured job. If you are planning to have your own business in near future then instead of asking for unsecured small business loan plan your finance for long-run safety.

SO be well prepared to tackle such financial matters. You must be thinking, how will you do it then here are the helping hands I mean suggestions for you.

· You can take help from financial advisors

· Involve your spouse, parents or children’s in your financial matter. Guide them and learn from their advice also.

· Keep a track of your credit score or credit history

Also keep the following points in your mind while on a financial diet:

· Budgeting is the key to have a healthy long financial run

· Invest in your happiness, don’t be rude to your happiness

· From your previous month or year graph keep a sound picture of where you stand financially

· Make or do all your financial decision based on your financial goals.

Hope, this suggestion will be helpful for you to plan your budget 2019 personally for getting fruitful result.

Monday, December 10, 2018

Home Loan and Benefits

Everyone dreams for his or her own home but having one is a deal. Especially in today’s scenario when high real estate price makes it extremely difficult for the middle class to upper middle class to fulfill their dream home mission. The difficulty can be resolved only by two ways, either applier should have lots of money or if not them Home Loan option is always there for you. Apply for a home loan online or offline that is extended for an individual to fulfill their dream home requirement. There are banks and various NBFC’s who offers loan facilities and in return, the property is mortgaged. You can avail home loan for constructions and renovation purpose also. There are numerous schemes released by banks and NBFC which individual can avail as per their requirement.

The Home loan helps in funding 80% of the cost of the property. Other than this there are various other benefits attached to it. Apply for home Loan to avail the following benefits.

· The Indian government is encouraging more and more people to have their own home. And to import this more beneficially Indian Government provides tax deduction on the principal as well as interest paid on home loan. The maximum deduction of up to Rs. 2 lakh is allowed under section 24B and an individual can claim a deduction up to Rs. 1.5 lakh under section 80C.

· There is a tax benefit on the second house which can be availed under section 24B of Income tax of India Act.

· There are no prepayment penalties on floating charges of home loan. Hence you can use your surplus money in making a part of your home loan payment.

· In case of a home loan, you can transfer your loan to a different lender if they are offering you a loan at a lower rate of interest.

· In today’s scenario buying a home is not that easy. But the home loan is making it possible for many. As it offers easy monthly installments that you can choose as per your requirement.

· Out of all loans home loans in Delhi has the longest repayment tenure. This tenure payment goes up to 30 years.

So, having your own home gives you the freedom to enjoy your own space in your own ways. Also, it saves rent which is a big bulky amount in metro cities. Apply for a home loan and live your dream in real on your own terms and conditions.

Sunday, November 25, 2018

What is Loan Against Property

As the name suggests Loan Against Property is the loan type which you can avail by keeping your property mortgage. Now one can apply for a loan not only from banks but also from NBFC’s. NBFC’s are non-banking financial sectors, these are financial institutes that offers loans and works almost similar to banks. In LAP’s case, the loan is offered at a certain percentage of the market value of the mortgaged property. Depending on market value and conditions, banks lend up to 50 to 55% of the value of the property. If you are planning for expanding your business or looking for a fund for higher education then apply for Loan against Property in Delhi.

In case of property mortgage, your property is kept as collateral with a bank or financial institute. The worst happens in the case when you fail to repay the loan. In that case, the lender will take a strict action of auctioning off your property. In this blog, we will learn about the benefits and advantages of Loan against Property. And who all can apply for it.

You can apply LAP in Delhi for the following purposes:-

· Funding for Child higher education

· Wedding celebration

· Starting a small business or business expansion

· Planning for dream Vacation

What are the Benefits of Loan against Property?

Applying for a loan is no more pain. Now you don’t need to rush to banks or financial institutes for loans. You can easily sit at your home with a cupful of cappuccino while comparing loans at multiple sites. All you need is a set of complete documents required while applying for Loan against Property Online.

· Lower Interest Rate: In case of LAP, the property is a mortgage. So keeping property collateral, the ROI is generally lower. LAP’s ROI generally ranges between 12% and 15% approximately while in case of a personal loan the interest rate varies a bit high.

· Lower EMI: When you apply for LAP with long-term tenure period you win the EMI game. Because higher the tenure period lowers the EMI or vice versa. The relationship of EMI with Tenure is inversely proportional.

· Lower Tenure: Loans like LAP’s are generally available for a longer tenure. It may be up to 15 years or more, whereas in case of personal loan tenure period is up to 7 years.

· Easy to apply and get: Loan against Property is a secured loan and banks prefer to provide such loans. Hence you won’t find any difficulty while applying for these loans.