Money Saving Tips

Company/Corporate Fixed Deposits (CFD) https://www.fundstiger.com/company-fixed-deposit/ A company FD or company term deposit is nothing but a type of FD that is issued by companies such as finance companies, housing finance firms or other types of NBFCs. Company fixed deposits are a great way to raise funds from the general public for many firms/companies. These time deposits are usually rated for their credibility by a number of rating agencies such as ICRA, CARE, CRISIL, etc. Financial institutions and Non-Banking Finance Companies (NBFCs) also accept such deposits. Deposits thus mobilised are governed by the Companies Act under Section 58A. These deposits are unsecured, i.e., if the company defaults, the investor cannot sell the documents to recover his capital, thus making them a risky investment option. Features of Company Deposits Although the rules governing the CFD are standard, their features may vary. Here are some important differences. The minimum deposit amoun...

7 Fixed Deposit (FD) Investment Tips Bank Fixed Deposit (FD) is perhaps the simplest of all investment options available to Indian investors. In banking parlance, they are known as Term Deposits or Time Deposits. Anyone investing in a bank fixed deposit needs to be aware of a few important things. Here are 7 such points that one needs to take note of before locking funds in a bank FD. 1. Minimum and Maximum Deposit Limit Most government banks including SBI have a minimum deposit limit of Rs 1,000 for creating fixed deposit. However private banks have higher limit for minimum deposit. You can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs 10,000 for General Customers and Rs 2,000 for Fixed Deposits for Minors. In case of HDFC Bank the minimum deposit amount is Rs 5,000. There is NO maximum limit but if the deposit is above Rs 1 crore, it’s called bulk deposit and generally has higher interest rates than regular FDs.        ...

Home Loan Rejection Reasons https://www.fundstiger.com/home-loans-rejection-reasons/ When you apply for a home loan, the bank has every right to accept or reject the same. In case your loan is rejected, your bank may or may not tell you the exact reason. While you cannot demand answers or explanations from them, you should definitely be aware of situations where your application is rejected. 1. Low Credit Score A credit score is an indication of an individual’s creditworthiness. If your credit score is low, banks and NBFCs may shy away from offering you a loan or offer you one at a substantially higher interest rate, or one against collateral, or ask you to provide a financial guarantor. There are many reasons why your credit score is low. The biggest reason is that you may have a poor repayment history wherein you may have delayed EMIs, substantial credit card dues, or have defaulted on, or settled, a previous loan. Another reason could be that there may be errors in your c...

Short vs Long Term Personal Loans Personal loans are well known for being flexible. The flexibility in terms of loan amount and repayment makes it one of the most used credit products of the present day. One can opt for any loan amount according to the requirement as well as can pay it off as per the convenience. The loan tenure of a personal loan ranges from 12 months to 60 months.  A borrower can opt for any loan tenure within the range. In terms of the loan tenure, both short- and long-term personal loans come with their own set of benefits. While long-term personal loans help build your credit score and ensure your EMIs are affordable; taking short-term and small personal loans online can fetch you a lower interest rate. Moreover, you will need to pay less in terms of overall interest. 6 points to keep in mind while choosing the right personal loan terms for your needs 1. Short-Term Personal Loans do not require collateral Short-term loans pose less of a threat to...

Long Term Personal Loans 0 SHARES   Facebook 0   Twitter 0   LinkedIn 0 SHARE   Email -- Email to a friend https://www.fundstiger.com/long-term-personal-loan/ What is a Long Term Personal Loan? A long term personal loan allows the borrower to opt for longer loan tenure such as 3 to 7 years. A long tenure personal loan runs for a couple of years. The EMI amount of the loan will be lesser than short term loans. There are many benefits of choosing a long term personal loan but at the same time, the cons should not be overlooked. Here are the pros and cons of long term personal loans. Pros of Long-Term Personal Loans 1.Enhances Loan Eligibility When you opt for longer loan tenure, it will help you to get a better loan amount. A longer tenure minimises the EMI amount so the repayment becomes easy. Before sanctioning any kind of loan, lenders do check if the borrower is able to pay off the loan easily. In the cases of low EMI amount, the lenders ...

Short Term Personal Loans https://www.fundstiger.com/short-term-personal-loan/ What is Short-Term Personal Loan? As the name suggests, a short-term loan is a type of loan that is given to an individual for a short tenure that usually ranges from one month to a year. These are advantageous for individuals who are unable to get loans for a longer tenure from a bank or a lender due to various reasons. Short-term loans are generally unsecured, meaning that you do not have to provide any money or property as security for the loan amount. Short-term loans are also known as short-term instalments or short-term finance. Benefits of Short -Term Personal Loan 1.Flexible End Use Short-term loans are multi-purpose loans. This means that they can be utilized for organising a wedding, taking a family vacation, renovating your home, paying for education, buying products such as electronics or furniture, establishing and expanding business or paying for a sudden medical emergency. ...

Unsecured Business Loans 0 SHARES   Facebook 0   Twitter 0   LinkedIn 0 SHARE   Email -- Email to a friend https://www.fundstiger.com/unsecured-business-loan/ A  Business Loan  that is taken either from a bank or any other NBFC, without the guarantee of collateral is called an Unsecured Business Loan or a Business Loan without Security. These are loans taken with the intent of starting a new business, maintaining or expanding an existing business, or for any other business need. These loans inject fresh capital into the business and help the entrepreneurs or management to realize the organisation’s true potential. Unsecured loans are given without the applicant having to provide any collateral to the bank. These loans are given on the basis of an applicant’s credit score and income. Since there is no collateral, the risk factor is high for the bank. Therefore, the banks charge a higher rate of interest on these loans as compared to secu...