#Mahindra Home Finance Loan EMI Payment

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Mahindra Home Finance Loan EMI Payment Online | Paytm

Manage your Mahindra Home Finance loan EMIs effortlessly with convenient payment options at Paytm online. Calculate, pay, and track your home loan EMIs conveniently. Stay on top of your finances and enjoy hassle-free repayments. Explore our flexible EMI solutions today. For more information about Mahindra Home Finance loan EMI payment, visit the site.

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The Best Mahindra Home Finance loan repayment Solution

PayRup is one of the leading digital platform where you can easily make your mahindra home finance loan repayment online. 100% secure platform for Loan payment/home credit loan payment with simple steps for online bill payment. Get home credit loan payment today at PayRup visit the website.

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AN INTRODUCTION TO THE BEST HOME LOAN PROVIDER IN BANGALORE

One of the life ambitions of most Indians is to own a home. However, home buying is not an easy thing. A lot of money goes into it, especially if you live in the cities. Even people who are earning well find home buying difficult. This is why they resort to taking a home loan, which is available from banks and other financial service providers nowadays.

Home loans are good options because these profit you in terms of lower interest and capital appreciation. Further, you also gain tax benefits in interest payments. If you are someone living in Bangalore and seeking to buy a home here, this article introduces you to the best home loan provider in Bangalore- aagey.com. 

About aagey.com

Aagey.com is the first Digital Lending Aggregator Platform to provide a variety of loan solutions from PSBs, Private Banks, Co-operative Banks, and NBFCs. You can find over 1000 loan options and more than 50 urban and semi-urban loans at aagey.com. It has 75+ associate lenders, 350+ business partners, and 5500 clients.  

Some of the top names in its long list of business partners are U GRO, Aadhaar Housing Finance Ltd, InCred, Axis Bank, Kotak Mahindra Bank, Karur Vaysya Bank, Duetsche Bank, Magma, Standard Chartered, Vistaar, Indiabulls, IndoStar, KaptalTech, Capital Float, HDB Financial Services, IndusInd Bank, KredX, Poonawalla Finance, IDFC First Bank, IntelleGrow, and RBL Bank. 

Apart from home loans, aagey.com also provides commercial vehicle loans, MSME-specific loans, car loans, working capital loans, and mortgage loans.

Home loans from aagey.com

Aagey.com, being the best home loan provider in Bangalore, offers a variety of home loan solutions to people living in Bangalore and other cities including Mysore, Davengere, Hubli, Calicut, Cochin, Bellary, Salem, Coimbatore, and Kolhapur.

You can avail a home loan to easily buy a readymade residential house/flat (home purchase loan), or a plot of land for constructing a residence (home construction loan), or repair, renovate, (home improvement loan) and extend (home expansion loan) your current residence. You have to repay the loan within a fixed tenure in the form of Equated Monthly Instalments (EMI).

Only individuals can avail a home. The individual should be deriving income from any lawful business activity, which can be in the below-given forms. 

Self-employed sole proprietors

Salaried individuals

Self-employed individuals including directors in public-limited companies 

Self-employed professionals/individuals at – partnership firms

Self-employed professionals/ individuals who own private companies

A home loan can be taken by individuals falling in any of the above catergory of their age is between 21 and 65 years. That is, the individual can be at the maximum age of 65 at the time of the loan maturity. If the individual of a higher age while borrowing, one or more younger generation individuals are included as guarantors or co-borrowers to the loan structure.

Other eligibility criteria for availing a home loan are-

The applicant’s income

The applicant’s credit score

The value and type of the property

The co-borrower’s (or guarantor’s) income and creditworthiness

Other non-financial details

When it comes to the rate of interest, it depends on different parameters such as loan scheme, loan amount, risk profile, credit score, tenure, etc. It is generally between 8% and 11.5%. Further, the rate of interest can be Fixed, Floating, or Hybrid.

Rounding up, buying a home is a big financial investment in your lifetime. Considering the capital appreciation in today’s real estate ecosystem, it is worthy to take a home loan from the best home loan provider in Bangalore- aagey.com. Being one of the most trusted, honest, transparent, and ethical financing firm, it is the trusted partner of numerous clients across the country.

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Banks are foraying into Buy Now, Pay Later space looking for growth

Several banks are showing interest in entering Buy Now, Pay Later (BNPL) space as the payment method is attracting growing interest from consumers and retailers. The reason behind this move is that most consumers prefer BNPL services from their banks instead of other companies. Consumers trust banks as credit providers while choosing a short-term credit product. Banks are capitalizing on this trust and offering or expanding BNPL services to new markets.

Various banks already operating in Buy now, pay later space are Axis bank, HDFC bank, Kotak Mahindra, Monzo, and ICICI bank. Recently, a few banks have announced that they are entering this space are:

Digital bank Zopa has announced that it is entering into the BNPL space in Money 2020 Europe, which was held in June 2022. With the growing adoption of BNPL services in the United Kingdom, the digital bank is hoping to capitalize on the market demand. Zopa is rolling out a fully regulated product suite to ensure customer protection and transparency. The bank is offering its customers this payment option for larger purchases of around US$ 313 to US$ 37,700; otherwise, the customer may spend months or years of savings on purchasing. Since BNPL is under the regulatory spotlight in the UK, the company is offering a staged offering to start with BNPL retail finance for merchants through B2B2C partnerships. Later, it is offered to consumers once the new regulation is enacted. The company will conduct affordability tests and credit checks for its customers before offering credit and provide tools to help customers reduce their debt.

In March 2022, NatWest, a UK high street bank, announced its plans to launch a new product, BNPL, in the summer. It makes customers convenient because they can make purchases anywhere that accepts Mastercard. NatWest bank is also offering the transactions with protections that customers expect from a fully regulated bank.

In June 2022, ICICI bank announced that it is partnered with ZestMoney, a digital payment or pay later platform, to expand its “Cardless EMI” facility for purchases at retail and e-commerce platforms. The Cardless EMI facility, commonly known as Buy Now, Pay Later (BNPL), is now expanding to new platforms. Post this partnership, bank customers can have the option to convert transactions up to 1 million into EMIs by simply providing their registered mobile number, PAN details, and OTP received on the registered mobile number at the time of checkout at retail outlets. The partnership also allows ICICI bank customers to use ZestMoney’s merchant base and avail of products like “pay-in-3”, where they can split the cost into three EMIs with no extra cost. ICICI bank’s pre-approved customers can avail of this BNPL facility across various categories, including electronics, travel, fashion apparel, home appliances, laptops, home décor, and sportswear. They can avail the facility for well-known brands such as OnePlus, Sugar, Mamaearth, Boat, Decathlon, Xiaomi, Urban Ladder, Titan Eye Plus, and Yatra. In addition, customers can also have the option to select repayment tenures starting from 3 months to 15 months and do not have to pay any processing fee to avail of this option. The bank and ZestMoney expect to scale up the affordability and convenience of credit solutions to a wide customer base.

With the established deep customer relationship for the decades, banks have added the advantage of customer data that can provide insights into approval rates and allow them to offer bigger loans than fintech companies. Moreover, banks have a wider presence through a chain of branches, consolidated customer financial statements and the opportunity to educate their customers about BNPL. By expanding BNPL services to larger transactions and longer terms, providing flexible repayment schedules, and higher approval rates, banks are expected to grab plenty of growth opportunities in this space.

To know more and gain a deeper understanding of the global BNPL industry, click here.

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Why To Choose TN Finance (tnfinance.in) for Unsecured Business Loans in Chennai

TN Finance is a leading provider of unsecured business loans, personal loans and home loans in Chennai. We are one of the most trusted names when it comes to providing financial services to individuals and businesses across India. Our loan products include Personal Loan, Home Loan, Car Loan, Education Loan, Debt Consolidation Loan, EMI Calculator, Credit Card, Merchant Cash Advance, etc.

Our team of experts provides you with all the information regarding your loan requirements.

TN Finance (tnfinance.in) is the best Unsecured business loans in Chennai. Usually, Unsecured business loans providers offer higher interest rates than secured ones. However, at TN Finance (tnfrance.in), we provide competitive interest rates on both secured as well as unsecured business loans.

We understand that every individual has different needs, which is why we have designed our loan products accordingly. Whether you need an urgent cash or want to consolidate your debts into one easy-to-manage monthly payment, TN Finance (tnfance.in) can help.

We also offer flexible repayment options such as EMIs through credit cards, debit cards, online banking, NEFT/RTGS transfer, cheque book, demand draft, etc.

Top Unsecured Business line of credit for startup

Startup funding is crucial for any new venture. It helps them get off the ground and grow. But getting the right kind of funding is not always easy. There are many factors to consider before taking a decision about whether to take funding from a bank or a private investor.

Fast business loans unsecured in Chennai is a dream for any business startup. TN Finance (tnfiance.in) offers fast business loans unsecured to entrepreneurs who wish to start their own ventures. The process is simple and quick. You just need to fill out a form, submit some documents and wait for approval. Once approved, unsecured small business loans will be transferred directly into your account within 24 hours.

If you are looking for a hassle free way to fund your business, then TN Finance (tnfiance.com) is the perfect option. We offer a wide range of financing solutions for startups, including:

* Start up loans

* Working capital loans

* Venture Capital

* Pre-Series A round

* Angel investment

* Seed money

* Private equity

* Equity crowdfunding

* Growth capital

* Mezzan

Best Unsecured Business Loan Interest Rates In Chennai

At TN Finance (tnfience.in), we believe that everyone deserves access to quality finance. That’s why we keep our lending rates low so that even those with bad credit scores can avail loans.

When you apply for a loan with us, you don’t need to worry about paying high processing fees. At TN Finance (tnfinance), we charge nominal charges for each transaction. We do this because we know how difficult it is for people to come by hard-earned money.

The following table shows the average interest rate charged by various banks on unsecured business loans in Tamil Nadu.

Interest Rate On Unsecured Business Loans In Chennai

Bank Name

Average interest rate (%)

HDFC Bank

12.50% — 13.00%

Axis Bank

13.25% — 14.00%

ICICI Bank

11.75% — 12.75%

Andhra Bank

10.50% — 11.50%

State Bank Of India

10.00% — 11.00%

Tamilnadu Gramin Banks

9.00% — 9.75%

Indian Overseas Bank

8.25% — 8.75%

Canara Bank

8.00% — 8.50%

Kotak Mahindra Bank

7.25% — 7.75%

Union Bank Of India

6.75% — 7.25%

and so on. If you want free consultation, feel free to contact us. So, these are the unsecured business loan rates. Fast Unsecured Business Loans is need of the hour for the earlier stage of startups. TN Finance (tnfinace.in) provides the best unsecured business loans at very affordable rates.

TN Finance (tnfinace) is a leading provider of Small Business Loans and Merchant Cash Advance in Chennai. We provide 100% Guarantee on all our products. Our loans are provided through direct channels to ensure prompt disbursal of funds.

TN Finance has been rated as one of the top 10 lenders in India . We have offices across India and we serve customers from all over the country.

We understand that every entrepreneur faces challenges when starting his/her business. This is where we step in and help them overcome those challenges. We make sure that they get the right amount of funding at the right time.

We also make sure that our clients are well informed throughout the entire process. They receive regular updates on their application status.

Our team is highly experienced and qualified. We have helped many entrepreneurs like yourself achieve success.

Our aim is to help you succeed!

Best Unsecured Small Business Startup Loans Provider in Chennai

Get instant approval for any type of business loans. No collateral required.

Apply now!

Why You Should Apply For An Unsecured Business Loan?

An unsecured business loan is an easy way to raise working capital for your business. It doesn’t require any security or collateral. The only requirement is that you must be able to repay the loan. The Unsecured Business Loans for New Businesses is a vital one for new businesses. This is because it helps you to fund your startup costs without having to put up anything as a guarantee.

An unsecured business loan will allow you to pay off other debts such as rent, electricity bills, etc.

It can also be used to cover inventory purchases, advertising expenses, and even payroll.

If you are looking for a quick cash injection for your small business, then you should consider applying for an unsecured business loan. These types of loans are usually available within 24 hours.

You don’t need to worry about getting rejected if you have bad credit. Your chances of being approved for this kind of loan are high since there are no restrictions.

Conclusion: TN Finance — Final Thoughts

When you apply for an unsecured personal loan, you have to submit some documents. However, with an unsecured business loans, you just need to fill out a short form. All the information needed for the application is already included in the form.

The application process itself takes less than 5 minutes. After submitting the application, you will receive an email confirmation containing the details of your loan.

After receiving the money, you can use it to meet any urgent needs. You can also use it to start a new venture.

You can take advantage of these loans by using them to finance your business.

TN Finance (tnfinance.in) provides best Unsecured Personal Loans & Unsecured Business Loans in Chennai. Get Instant Approval for any Type of Personal Loan or Business Loan.

A secured loan is a loan that requires the borrower to provide something as collateral against the loan. If the borrower defaults on the loan, the lender can seize the collateral and sell it to recover the debt. It’s far better and more secure when it comes to availing unsecured business loans rather than a secured business loan. So, what are you waiting for? contact us for free consultation.

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Need Money Fast? How and Where to Get an Instant Personal Loan?

Gone were the days when personal loan disbursals take a number of working days time for getting disbursed. With the advent of the digital era, when the loan disbursal process has become online, it takes within seconds for your instant personal loan to get approved. Once you submit your documents online, the verification process takes seconds and the disbursal of the loan directly gets credited in your bank account. However, the best thing is that unlike secured loans such as home loans, car loans—personal loans can be used for a variety of purposes.

Know Why you should apply for a Personal Loan

Debt Consolidation

Improving Credit Score

Medical Emergencies

Business Expansion

Funding your Holiday

Higher Education

Home Renovation or Relocation

Wedding

Paying Credit Card Bills

Securing finance for a Big-Ticket Purchase

How to Apply for Instant Personal loan?

There are many financial lenders such as banks, NBFCs or online financial aggregators available in the market that offers you an instant personal loan within seconds. It’s better to check with the interest rates of a lender you wish to apply. Also, you are required to follow certain steps to get access to the instant personal loans. 

First, decide from which financial institution you wish to obtain a personal loan. 

Visit their official website. 

Fill the personal loan application form online by entering the details asked for

Upload your documents in softcopies

The documents will undergo through the verification process

A confirmation statement is shown whether verified or not

Disbursal of personal loan takes place and within a few hours, it gets directly credited in your bank account. 

In other instances, you can check your eligibility criteria on their website or app for availing personal loans first without visiting any of these lenders personally. After conforming to your eligibility, you can e-sign all the personal loan documents and get the money credited in your account. 

To be precise, the instant personal loan takes place in five basic steps: 

Apply for the online personal loan 

Check your eligibility

Complete the documentation process

E-sign the personal loan documents

Personal loan disbursal

Where to Get Instant Personal Loan?

Go for the lender who offers you Instant personal loans at the best interest rate. Since, ultimately you have to repay the personal loan, so it’s better to check with multiple lenders at the same time while finalizing the lender for your personal loan.

Let’s take a look at some of them:

ICICI Bank Instant Loan

ICICI Bank offers the facility of pre-approved personal loans to its selected customers. The existing customer with sound credit history and past track record helps them to become entitled to the pre-approved personal loan. The personal loan processing is quick and the disbursal of amount takes within seconds.

Axis Bank Instant Loan

Axis bank instant loan is offered to the existing customers of Axis Bank as well as non-customers with sound credit history, steady income, and repayment capability. It takes only a few hours for the personal loan to get approved and disbursed when applied online. Axis bank Instant loan is the preferred option to fulfill the immediate needs of the customers.

HDFC Bank Instant Loan

HDFC Bank Instant loan allows you to fulfill your dreams to the fullest without any obstruction. The bank offers instant personal loans at attractive interest rates and flexible repayment options. The disbursal of the personal loan takes 10 seconds to directly get credited in your account.

Kotak Mahindra Bank Instant Loan

With the availability of Kotak Mahindra Bank Instant Loan, you can plan your expenses well before time or on-time. Securing the personal loan from Kotak Mahindra bank comes with hassle-free documentation process along with flexible tenures and quick loan disbursal.

MoneyTap- App based instant personal loan

To get quick disbursal of personal loan as you can’t wait for hours due to a sudden emergency outburst or making your vendors wait for payment, you can consider MoneyTap.

MoneyTap is an app-based instant personal loan provider that allows you to borrow as little as Rs. 3000 or Rs. 5 lakhs per as your credit limit.

MoneyTap is the first Indian app-based personal credit line service that offers you personal loans in partnership with banks.

With MoneyTap view, you can check your credit limit as decided by the partner bank (according to your profile, income, credit history and other factors) and the amount of personal loan you have availed and used over a period. Also, you have to pay interest only on the amount you use.

At the time of withdrawal, you have the convenience of selecting your repayment terms which can fall between 2 months and 3 years. The repayment duration you select will ascertain your EMIs.

The interest rate offered to you by MoneyTap is equivalent to personal loan market rates with zero collateral or security. The interest rate can be as low as 1.25% per month subject to the partner bank and your credit profile.

Once you create your profile on MoneyTap, the app shows you the desired bank list which has the highest chance of approving your personal loan application. Once approved, the bank will be finalized for you at reasonable interest rates. The payment towards EMI will be like any other credit card bill payment. Since the app will only show you the amount you owe and remind you about the next EMI when due. But the payment for the EMI would be done via cheque or online directly to the bank or through an app. Also, you can schedule the auto-debit facility with your partner bank, this way; you would get rid of repeated reminders as the auto-debit works automatically as and when your EMI falls due.

How to Apply for MoneyTap Instant Personal Loan?

It takes a few minutes to install your MoneyTap app on your Android or Apple phone and create your profile to get started.

It requires the following steps:

1. Download - Install the MoneyTap app which is free to download from the playstore. It will ask for your details in short. Once you enter the details, it takes a few minutes for your details to get verified for setting up your account on MoneyTap. Once your profile has been created, you will be eligible for the credit limit.

2. Know-Your-Customer(KYC) formalities – Once your profile is verified and created, the agents of MoneyTap on behalf of the partner bank will visit your house to collect your documents as part of the KYC process.

3. Manage your money - After some days, you will get a Card from MoneyTap at your home that you can use it as a credit card and do much more. You can also withdraw the funds from your app anytime wherever you want. Also, you have the flexibility to choose your EMI and you will be charged with the interest only on the amount you use. This card is only available for the purchases you do.

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Why Homebuyers Prefer To Buy Properties By Top Real Estate Developers

Most buyers before a purchase will do some market research, comparisons with similar projects, pricing options, best brand to buy etc. If this can be true when you are buying something as inconsequential as a detergent then why should it be any different when making a huge financial investment while buying a house?

Most reputed real estate companies are aware of the stiff competition that they face in terms of attracting buyers to their projects. This propels them to give it their best whether in terms of large scale advertising, putting out favorable customer reviews, and offering price incentives etc. a long term process is involved in establishing a trusty rapport with the customers.

Almost all reputed real estate developers have a few factors in common that enables them to have an edge over the smaller, less established market players. So why are buyers more prone to trust a project from a top builder than a lesser one? Let’s find out…

Professional Business Dealings

These big real estate developers have been in the market for a long time (some even for decades), obviously their business has sustained due to delivery of quality projects, good business practices and customer satisfaction. Having a professional set up in place that ensures transparent and upfront home buying experience whether it is the surety that the project is developed on non-disputed and clear title land, ensuring there are no hidden costs that the customer will have to bear in the future (parking costs are often charged extra in many cases), offering the prevailing selling rate, option of stage completion payments, furnishing the OC certificate etc. A home buyer is putting a lot of trust in the developer with their investment because a home is not just a money transaction, it is often the fulfillment of a long held dream. For example, this is the reason some top builders in Pune often appeal to the emotive side of the customers offering deals such as homes first, EMIs later etc.

Quality of Construction

The top real estate developers are well aware that the quality of construction is the foundation of their success and their ticket to earning the trust and confidence of home buyers. Once you have an established reputation of delivering best quality product, the customers are naturally going to prefer your product. These real estate developers will never compromise on the quality as it will undermine their painstakingly established brand image.

Modern Amenities

Also apart from superior construction quality, these builders also offer an array of attractive amenities to convince home buyers such as club house, gym, jogging track, tennis courts, badminton courts, Amphitheatre, full generator back up, water filtration units, rain water harvesting etc. Some real estate companies in Pune have also offered their customers schools, medical facilities, even temples on the premises to further sweeten the home buying experience. It is a mutually beneficial deal where the builder expands their customer base whereas the buyer gets a host of features at their doorstep.

RERA

With the government introducing RERA, all reputed real estate developers have registered their companies under the act. RERA is a boon for home buyers that ensures a far more transparent process and less chance of foul methods. A company registered under RERA will make it more trustworthy in the eyes of the buyer in terms of accountability. With RERA the onus is firmly on the builder to adhere to those rules and regulations and offer timely completion of the project, more transparency in pricing, flexible payment options etc. to the customers.

Easier Home Loan Processing

The decision to buy a house is easy to make but financing that house can be a tedious process. Most banks have strict processes in place before approving home loans. The benefit of opting for a property from a known real estate developer is that they often have tie ups with banks for faster home loan processing with some banks even offering better rate of interest on that loan. In many cases the banks have a long business relationship with these top builders and are well aware of their financial strength and project viability.

Assured ROI

While investing the first thought that comes to mind is the return on that investment. So why should an investment in a property be any different? Ensuring that your hard earned money is being put in an investment that will give you handsome returns in the long term is the wiser option. To that end, it makes sense in choosing a property from a known real estate developer as it will mean that the project is in an up market location, with good construction and amenities, well connected to the city via public transport, close to malls, restaurants, entertainment centers etc. Such a property is bound to appreciate over time and will fetch a handsome market price.

Your house is your dream, make sure that you make the correct choice with the correct real estate company as the stakes are very high and not just financially. So make sure you check the credentials and background of the developer before making the decision.

A reputed real estate company in Pune, with proven credentials, is Mahindra Lifespaces, who are offering 2 BHK flats in Pimpri Chinchwad, a sought after location in Pune. For customers interested in buying flats in Pune, Mahindra Lifespaces have 2 top class projects in Pimpri - Centralis and Antheia. Choose from 1 & 2 BHK modern homes in Centralis or premium 2.5 & 3 BHK flats in Mahindra Antheia.

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Be it personal loans or home loans, EMI payment is a must for both of them. A lot of questions related to EMIs start bothering us when we are about to take a personal loan or home loan. How much EMI will I be paying every month? How long will I have to pay the EMIs? How much percentage of my salary will the EMI payment be? Only one thing can answer these questions - Mahindra Finance EMI Calculator. 

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Want to renovate your home, organize a grand wedding for your child or traveling abroad; you can apply for Mahindra Finance personal loan. These loans are available only for existing Mahindra Finance customers and Mahindra Group employees. The loans are provided at competitive interest rates. Loan applicant can avail loan amount up to Rs. 3 lakhs for the maximum period of 36 months. To provide customers total comfort Mahindra Finance accepts payment of EMI through cheque, ECS, and mobile transfer. You can also repay in cash at the nearest branch.

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Personal Loan Real time Approval

Dealsofloan offers instant soft approval for Personal Loan which further gets disbursed in 48 hours from our in-house NBFC, multiple banks & other NBFCs. Enjoy the fastest process, door step services, transparent processing, simple & easy documentation and competitive lowest interest rate.

We also provide loans to those who are bachelors living on the shared basis or rented.

A personal loan is purely unsecured, short term cash loan, which means that the individual customer is not required to provide the bank with any security (ex. property, jewels) or any kind of guaranty against the personal loan.

Formally, for any urgent cash requirement, we prefer personal loan. It can be taken for any general purposes like education, reconstruction of property/home renovation, a wedding expense, vacation etc. Most of the finance companies or other banks offer Personal Loan up to Rs. 40 lacs for salaried customers. Normally, it can be repaid over a period of 12 months to 60 months. Some of the banks are funding more than that.

The personal loan amount you are eligible for and the personal loan interest rate for you will depend on factors such as monthly income, customers employment history, residence history and past financial credit history along with the pattern. Banks typically have capped the monthly payment (EMI) on your loan to about approximately 60% – 70% of your monthly take home income. However, a customer cannot take a personal loan for any kind of bad investment or expense which is not approved by the banks or by the law.

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AUTO EXPO 2018 – WHAT MAKES SECOND HAND CAR A GOOD OPTION?

Introduction

Yesterday marked the start of the 4-day ‘Auto Expo 2018’, Delhi. This biennial event is the world’s second largest motor show in the world and the largest in Asia. Every 2 years, car and bike enthusiasts look forward to the release and showcase of new car or bike variants from manufacturers all around the world.

Day-2 of the Auto Expo 2018 would saw the release of the new Maruti Suzuki Swift 2018. It was the most anticipated vehicle at the Auto Expo 2018, and unveiled in its new 3rd generation avatar. The new swift will be available in 6 colours, 12 variants, AMT transmission on mid variants, and enhanced safety features such as standard dual airbags and ABS.

Now, all this is great. A new car is released at the Auto Expo 2018 with better features, more pricing and enhanced looks. But what about the 1st generation or 2nd generation models of the Maruti Suzuki Swift? There will be many of us who will find the new ‘Swift 2018’ to be appealing, and look for ways to sell the older swift. Chances are that some would sell their Swift that was bought in 2017, just to get their hands on the new and improved 3rd generation ‘Swift 2018’. This actually could be a blessing in disguise for people who do not want to go for a brand-new car but are actually okay with purchasing a second hand car. Let’s look at the advantages of second-hand cars.

Advantages of Second-hand Cars

A brand-new car is cool but you need shell out quite a lot to get it. A second-hand car comes with its own set of advantages compared to a brand-new one. Let’s look at some.

Different Choices

With a second-hand car, you will get a wide variety of choices at a single dealer. You can get used models for Maruti Suzuki, Hyundai, Mahindra, etc. – all at one place and can then choose the one that suits you. Sometimes an older model, which is not in production anymore, could be your personal favorite. So, you can get your dream car only as a second-hand option.

No Added Charges

For a brand-new car, you will not just be paying for the manufacturer’s price but also the added charges such as GST, processing fee, preparation fee, shipping charges, and advertising fee. These can easily add up to thousands of rupees more which you can happily avoid by going for a used car. You maintain an upper-hand while searching in the market to purchase a second-hand car.

Great Price

We all love the scent that emanates from a new car. The immaculate upholstery, 0 kms travelled, even sans any fingernail scratches on the outside, etc. is something we love. But it does not come cheap. The pricegap between a used and a new car is huge. You will also argue that the interest rates on new cars are less, but the one-time amount you pay (inclusive of a new paint job, top-up of engine oil, coolant, complete interior & exterior wash, and more) goes easy on your budget. A personal loan can further reduce the average monthly spend.

Less worry

If it is the paint getting chipped-off on gravel, the tyres getting punctured or some other driver goes-off with the car mirrors from the opposite side, you don’t feel too much of a heartache for a second-hand car. That is why it is suggested you learn driving with a second-hand car because the strain on your pockets is less.

Depreciated Value

New cars lose a portion of their value immediately. The moment a new car is bought it is not new anymore and will be sold as a second-hand. New car owners go through a plethora of emotions when the new car starts acquiring wear & tear going over Mumbai’s potholes or Goa’s beachside terrain. In the first year since purchase, new cars lose as much as 40% of their value. For a second-hand car, however, there is much less depreciation. You will lose less money over comparatively longer time and will avoid the hit the first owner took.

Insurance cover

No need to scratch your head here, the annual insurance premium for a second-hand car towards accidental damage is cheaper. The value of a second-hand car is already depreciated which means you pay a lower premium than what you would pay for a swanky new car.

Online portals

Many websites offer information on second-hand cars to make it easier for you to choose your car from home. Similar to how Loan Singh has removed the hassles that exist in the processes of traditional lending institutions, there are websites that help you search for used cars by selecting the dealer close to you, and also provide plenty of details regarding the used cars such as price, availability, manufacturing year, etc. You can also read user experiences which can help you make a better decision.

Mint condition

Gone are the days when a second-hand car emanated a sense of abysmal quality or lack of decent conditioning. The sooty scent, rusting interiors, unkempt cushions, worn-out tires, kilometers driven, etc. are no more a problem. Dealers ensure that the used vehicles are re-worked and re-painted. They also provide free servicing for the first 6 months.

Second-hand Car Personal Loan

Nowadays, it is not a big deal to own a second-hand car. You have the income, you know how to drive, and you need the convenience. But, purchasing a brand-new car does not always go easy on your budget. You could be a novice at driving and won’t mind the bumps, scratches and dents while becoming more proficient. For such reasons, a second-hand car is a great choice.

Imagine passing by a used-car sales center and your eyes fall on this cool car which you would love to buy but you lack the funds needed. Good conditioned used cars don’t remain unsold for too long. That is why you need to get quick funds to buy a second-hand car. As you are not going for a new car, you easily dodge the hassles of a secured vehicle loan.

So, the best option left for you to get quick funds is Loan Singh. Firstly, Loan Singh is a digital lending platform that allows borrowers to apply for a personal loan with only PAN details, Aadhaar and 6-months bank statement. Loan Singh involves no paperwork and provides an online process for loan application. You apply for a loan via Loan Singh’s website and get the personal loan disbursed in to your account within 48 hours.

Swift processing – At Loan Singh, everything from application to disbursement happens online. With only Aadhaar, PAN and Bank statement/netbanking credentials, you can apply for a personal loan and pay for your emergency requirements.

No collateral – Having no collateral requirement gives a personal loan an advantage over a secured loan. Even if you do not own any assets, you can at least get funds from Loan Singh.

Multiple purposes – A personal loan can be availed for a number of purposes such as purchase of household appliances, electronic gadgets, purchase of gold, holiday travel, home improvement, job relocation, medical expenses, home renovation, purchase of second hand vehicles, marriage, etc.

Loan amount and tenure – The loan amount for a personal loan at Loan Singh can range from Rs.50,000- Rs.5,00,000. The repayment is done via EMIs, with interest rates on a reducing balance method. The personal loan tenure can be from 3 to 36 months.

Loan Singh Application Process

The process to get an easy and quick loan with Loan Singh is mentioned below:

Get started page – Select ‘PERSONAL LOAN’ from the dropdown and enter the loan amount with the desired repayment tenure.

Registration page – Add your contact number, personal email ID, and corporate email ID

Social authorization – Connect to your Facebook, Google+ and LinkedIn profiles, to avail a discounted interest rate.

Profile page – Fill in your name, gender, Father’s name, number of dependents, and PAN details. We use your PAN Card Number to check your Credit Score.

Address page – Choose your type of residence, and mention your street address, city, state and pin code.

Job profile page – Mention your current designation, total work experience, company name, highest qualification, last institution attended, and monthly salary.

Financials page – Upload your latest 6 months bank statement (in PDF format) either from your computer, GMail account or directly link your net-banking account. Our net-banking partner is ISO 27001 (2013 standard) certified & provides services to established banks, as well.

Auto debit page – Provide permissions to your bank name, account number, and IFSC code so that Loan Singh can auto debit the EMI amount from your account every month. This way you don’t need to set reminders or miss out on any loan EMI payments.

Loan Singh is a digital lending platform that prides in providing unsecured online personal loans to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan, but like banks we provide best personal loan interest rates. The instant funds or instant loans can be taken for purposes such as home improvement, house repair, marriage/wedding, medical emergency, second-hand car, second-hand bike, vacation/travel and more. You can calculate your easy EMIs using our personal loan EMI calculator. We require bank statement, PAN and Aadhaar for quick loan approval. Bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Blog’ is one of the best finance blogs in India.

BONUS (Day-1 Highlights from Auto Expo 2018)

Maruti Suzuki unveiled the Future S Concept

Honda launched the Activa 5G

Hero unveiled the XPulse 200

Honda launched the new Honda Amaze

Hero also launched Duet 125 and Maestro Edge 125

Mahindra went big with 4 releases – G4 Rexton, two electric vehicles, and a concept convertible SUV (named Stinger)

Toyota came out with the Toyota Yaris

SML Isuzu launches the Samrat GS Tipper along with 2 other trucks

Renault unveiled the Trezor Electric Car

KIA unveiled the SP Concept car

[personalfn-blog]

Here’s Why More Indians Are Using Credit Card Nowadays

Credit growth in the banking system hit a multiple-year low in the Financial Year (FY) 2016-17. But don’t make the assumption that credit demands have vanished permanently. It’s just shifted from corporate customers to individual ones. If credit card usage is the parameter to go by; apparently, credit demand is refusing to back down. In fact, the use of plastic money has reached unprecedented levels. As on June 30, 2017, 31.47 million credit cards were active in the Indian banking system as against 25.54 million a year ago—a jump of 23.23%. Some of India’s leading banks have witnessed 14%-40% growth in the new credit card issuances. While some banks have seen expenditure via credit cards as high as 74%. What has fuelled such exponential growth?

Change in the consumer preferences

Slow pace of remonetisation

Attractive cash back offers on select card purchases

During

demonetisation,

many individual spenders switched to card-purchases from cash-purchases. This trend was sustained as the supply of new currency remained short for a considerable duration. As the growth in institutional credit cooled off, banks became aggressive on the expansion of their retail portfolio, and card issuances took centre stage. Besides offering a standard credit period of 40-45 days, they also offered attractive cash backs to win customers over and induce them to spend more through credit cards.

Mr Sumit Bali, senior executive vice president & head, personal assets, at Kotak Mahindra Bank stated that, "The demonetisation and the increase in digitisation in banking transactions have on-boarded a number of customers to the credit card platform. About 90% of our cards are to either the liability or the asset-side customers. Increase in use of credit bureau also help us understand customer behaviour while on-boarding them to our platform." Kotak Mahindra Bank has been the fastest-growing bank as far as issuances of new credit cards go.

A message for individual spenders…

While there’s nothing wrong with using a credit card, indiscriminate usage always has its downsides. If you live beyond your means for a prolonged period of time,

credit facility quickly turns into a debt trap

—the first step towards ruining tranquillity.

So, here are tips for using credit cards wisely and getting out of the debt trap:

Adjust your lifestyle vis-à-vis income and outgoings: Most credit card debts pile because we fail to keep a check on our expenses. Most

credit card

purchases are impulsive and indulgent, especially at the time of a sale or festival discount. The best way to work towards a lifestyle change is to put a budget in place. For most, a budget sounds boring but sticking to it pays rich dividends in the long run. The key to a successful budget is to be as realistic as possible. Take a decision and cut down on unnecessary, out-of-reach wants/desires/aspirations and unwanted expenses as much as possible. Though it may be hard at first to make lifestyle changes, remember the road to financial freedom is worth every paise.

Know your expenses: Go through personal bank statements and find out the expenses you pay for through your credit card—regular committed expenses (telephone bills, electricity bills, gymnasium membership, insurance premiums and EMIs etc) and variable expenses (restaurant meals, entertainment and travel). This will act as a good foundation stone to lay down your budget.

Take stock of the situation: Until you know where you stand, it is even more challenging to work out a strategy to get out of debt. If you use multiple credit cards, make sure you write down all the credit card dues along with the interest rate you have to pay.

Prioritise your repayment: Once you have determined a method to budget your expenses and pay off your dues, you must start implementing the same. Do not delay or procrastinate these payments as the debt amount keeps increasing. It is also prudent to keep a track of your progress. You must revisit your finances in a disciplined manner to ensure that you have not deviated from the planned course of action.

Renegotiate the interest rates: Renegotiating the interest rate with your credit card company would help you save a lot. Even a few hundred saved could be directed towards a long term goal. At times, all it takes is a phone call to your Relationship Manager asking for honest help to get out of the debt.

Pay through cash: We are all emotional in a way. It is our

“impulsive” desire

to possess/buy that makes him pull out his credit card and swipe it. The best way to handle this urge is to use cash as much as you can. It seems difficult at the start but as you see cash leave your pocket, the emotional side takes over.It is a painful exercise to see hard cash leave one’s pocket, isn’t it? Dave Ramsey, a US based personal finance expert, suggests a “cash only” lifestyle and to get rid of all the credit card debts. He even goes on to add that responsible use of credit card simply doesn’t exist.

Avoid taking a loan on your credit card: Most individuals take a credit card loan because it is faster and less cumbersome than other forms of loans. More often they ignore the interest rate that they pay on taking credit card loans. Credit card loans charge an interest between 36 to 40% vis-a-vis an unsecured personal loan (which charges 20-25%) – which is also expensive - and a secured loan (such as a home loan, top up loan or loan against your insurance policy). Evaluating all the available options is important before signing on the dotted line. A burgeoning credit card or any loan can impact your

CIBIL score,

and you may not get one when you are approaching a more important need or a financial goal such buying a dream home.

Take help of a financial planner: It is always advisable to

seek opinion of a financial guardian who can show you the path to financial freedom and wealth creation

and in the journey even help you recognise nuances. The action steps shared by a financial guardian can enlighten you and bring down on the debt vide a prudent strategy.

PersonalFN believes that owning a credit card is not a bad thing as long as you know the means to service your dues. As Dave Ramsey puts it, “Personal Finance is about 80% behavior and about 20% head knowledge”. There’s an old adage for financial discipline, “Live within your means” – follow it thoroughly.

[mymoneymantra]

Top 10 Banks with Lowest Interest Rates on Home Loans

With the rising prices of residential properties across India, becoming a homeowner has become a little challenging. You can practically no longer think about purchasing a property on a down payment, owing to huge amounts of money required to do so. In such a situation, availing a Home Loan is the best option to realize your dream of becoming a homeowner.

 A Home Loan is a secured loan wherein the lender provides funds to the borrower to purchase a new apartment, house, villa or any residential property. The lender creates an equitable mortgage against the property to secure the loan amount. If the borrower fails to repay the loan amount, the lender has all the legal rights to recover the outstanding loan amount, including the sale of property that was pledged as collateral. The maximum amount available as a Home Loan in India can go up to 10 crores with maximum repayment tenor extending up to 30 years. Due to rising competition between various financial institutions, Home Loan Interest Rates in India have now become highly affordable for the borrowers.

 When you are finalizing a Home Loan for your requirements, factors like the rate of interest, repayment tenor and loan amount should be considered and compared carefully. You must compare home loan rates offered by various financial institutions as a Home Loan is a long term financial commitment which requires financial discipline from your side. With the push from the Government of India to offer affordable housing for all and schemes like Pradhan Mantri Awas Yojana, the interest rates for Home Loans have become easily affordable.

 If you are looking for the lowest interest rate on the block, then you should consider the following options:

 1. State Bank of India (SBI)

 SBI tops the list as it is the largest financial institution in the country. It has a wide network of 24,000+ branches in India and offers one of the lowest interest rates on Home Loans. You can avail a home loan from SBI with a maximum loan amount of Rs. 10 crores and extended repayment tenor of up to 30 years. You can choose fixed or floating rate as per your needs.

 2. Bank of Baroda

 Bank of Baroda offers a variety of Home Loans to suit every customer’s needs. Home loan interest rates at Bank of Baroda are attractive. Processing fee is competitive at 0.50% of the loan amount for loans under Rs. 50 lakhs and 0.25% of the loan amount for loans above Rs. 50 lakhs. The maximum repayment tenor for a home loan from Bank of Baroda can go up to 30 years.

 3. HDFC Bank

 HDFC is another lending major in the country and offers one of the lowest interest rates for a wide base of customers. The maximum loan amount offered by HDFC can go up to Rs. 10 crores with the repayment tenor capped at 30 years max. The processing fee for HDFC home loans is 0.50% of the loan amount. HDFC offers the lowest EMIs starting from INR 762 per lakh for home loans.

 4. LIC Housing Finance

 LIC Housing Finance is one of the largest Housing Finance Companies in India since the year 1989. It offers Home Loans for salaried and self-employed individuals with a rate of interest, starting from 8.40% per annum. The maximum repayment tenor for LIC Housing Finance home loans is up to 30 years. The maximum loan amount available for LIC Housing Finance Home Loans is Rs. 5 crores.

 5. Indiabulls Housing Finance Limited

 Indiabulls Housing Finance is a leading NBFC and one of the biggest Home Loan providers in India. It offers interest rates on Home Loans starting from 8.80% per annum. The processing fee for loans below Rs. 30 Lakh is up to Rs. 10,000 only. For loan amounts ranging from Rs. 30 lakhs to Rs. 3 crore it is 0.50% of the loan amount, and for loan amounts of more than Rs. 3 crore, it is 1% of the loan amount.

 6. Axis Bank

 Axis Bank offers high-value home loans at attractive interest rates. The maximum loan amount available for Axis Bank Home Loan is Rs. 5 crores. The processing fee for Home Loans at Axis Bank can go up to 1% of the loan amount subject to a minimum of Rs. 10,000. The maximum repayment tenor available for Axis Bank Home Loan is 30 years.

 7. Kotak Mahindra Bank

 Kotak Mahindra offers Home Loans with the maximum loan amount going up to Rs. 10 crore with an extended repayment tenor of up to 20 years. The Home Loan interest rates at Kotak Mahindra Bank start from as low as 8.5% per annum. The processing fee for Kotak Mahindra Bank Home Loans can go up to a maximum of 2% of the loan amount.

 8. Citibank

 Citibank offers Home Loans with many features and benefits like high-value loans, extended repayment tenor, and interest amount charged on reducing basis. It offers maximum loan amounts of up to Rs. 10 crores with the maximum repayment tenor of up to 25 years. The Home Loan interest rates at Citibank start from 8.75% per annum onwards.

 9. ICICI Bank

 ICICI Bank offers a variety of Home Loans with flexible repayment options to suit every customer’s needs. The maximum loan amount available as ICICI Home Loan is Rs. 3 crore with repayment tenor going up to 30 years. The processing fee for ICICI Home Loan varies between 0.5% to 1% of the loan amount.

 10. PNB Housing Finance

 PNB Housing finance limited is a Housing Finance Company established in 1988 and completely owned subsidiary of the Punjab National Bank. It offers a wide range of customized home loan facilities with flexible repayment options to the customers. PNB Home Loans are available at interest rates starting from 9.25% per annum. The maximum repayment tenor for PNB HFL Home Loans is up to 30 years.

 With the easy availability of Home Loans from leading financial institutions of India, your dream of becoming a homeowner can now be realised in an effortless manner. From October 1, 2019 banks are mandated to link their floating loan rates with external benchmarks such as repo rate and TBLR.

[mahindralifespaces]

The impact of Union Budget 2019 on Indian Real Estate

The interim budget for 2019 has benefited most of the stakeholders in India’s real estate, including home buyers, home owners, builders and bankers.

Here are 7 ways in which the budget proposals will impact real estate in India.

1. Standard Deduction Raised

The standard deduction of Rs.40,000 for salaried classes, has been proposed to be increased to Rs.50,000.

2. Tax Savings Up To Rs.10 Lakh Income

The salaried class having taxable income up to Rs.10 lakh have the means to avoid income tax by claiming the standard deduction of Rs.50,000, deductions up to Rs.150,000 under Sec 80C for specified savings and home loan repayment, deductions up to Rs.200,000 under Sec 24 towards interest paid on home loan, deduction up to Rs.50,000 under Sec 80D for medical insurance premium paid (for self, spouse, children & parents below 60 years age) and deduction up to Rs.50,000 under Sec 80CCD (1B) towards contribution made to NPS (National Pension Scheme).

3. Tax Burden Lowered

The lesser tax burden can help people invest their savings in property as well as allow them to plan their finances. Paying off higher EMI’s is possible, which in turn makes them eligible for higher home loans.

4. TDS Limit On Interest Earned Raised

The budget 2019 has proposed to raise the TDS limit to Rs.40,000 PA. Before, Tax Deduction at Source was applicable on interest earned beyond Rs.10,000 PA on bank deposits and other investments.

5. No Tax On Second House

It was mandatory to pay income tax on the income from house properties, if anybody owned more than one house, other than a self-occupied house. The notional rent and rental income on the second house had to be computed. The budget 2019 does not levy any income tax on the second house, which helps middle-class families to own houses at two locations.

6. TDS Limit On Rental Income Raised

10% of rent, if rental payment exceeds Rs.1,80,000 PA, has to be deducted and paid to income tax. With the budget 2019, the threshold limit on TDS on rental payment has been increased to Rs.2,40,000 PA.

7. Capital Gains Tax Exemption

Until now, there were certain exemptions available to avoid capital gains tax. If profits made from the sale/transfer of residential immovable capital assets are invested in one house property, such capital gains were exempt from income tax. The conditions listed the time period for investing and that the assessee should not own more than one house property at the time of claiming exemption. The budget 2019 has proposed to allow the assessee to invest such capital gains in two different residential properties and claim exemption from the tax. The capital gains should not exceed Rs. 2 crore and such exemption can be availed once in a lifetime.

With these positive sentiments for real estate in India, it’s the best time to purchase property. If you’re looking for real estate in Mumbai, Mahindra Lifespaces is a reputable developer with quality projects in prime locations like Mahindra Roots that offers 2 BHK flats in Kandivali East.

[mahindralifespaces]

Buying A Property In Nagpur - Here Are Few Property Buying Tips

Nagpur has been emerging as the next IT destination in Maharashtra, thanks to the State Government’s contribution towards the ongoing MIHAN and SEZ projects. This has had a positive impact on real estate in the city. If you’re looking to purchase a residence or invest in a property in Nagpur, it’s essential to consider all the factors to get the best returns.

Buying a property is one of the most important financial decisions you can make in your life. Here are a few property buying tips to keep in mind.

1. Legal Documents

Inspect all the certification of the land and property. The title of the property should be clearly mentioned, whether it’s freely held or leased. Verify if the land is in the name of the builder, and if not, if there’s a legal development agreement with the owner. Ensure there are no property disputes, and that all dues are expressly stated by the developer otherwise. On registration, see to it that you receive all valid documents like an agreement to sale and a sale deed. The sale deed should have the flat number, wing and floor number in your name. The built-up and/or super built up area, possession date and payment terms should also be clearly stated in these documents.

2. Legal Approvals

The builder requires certain approvals before and after construction of the property.

Find out if the construction plans of the building that have been approved by the Nagpur Municipal Corporation to make sure that the property development is as per the same plan. Disputes may take place if the actual construction deviates from the plan approved by the NMC. Examine the building permit and commencement certificate as well.

Verify if the project has been approved by the Nagpur Municipal Corporation and Nagpur Improvement Trust. Ensure that the housing development is sanctioned by the Maharashtra State Electricity Board, Fire Department and Water Department of the city. Check that the builder has acquired the No Objection Certificates from various departments including Sewage and Environment department.

3. Trusted Builder

When looking for flats in Nagpur, search for builders that have earned a good reputation in the market. Look through the previous projects of the developer, browse through online property listings of that builder, get an idea from existing clients and inspect the quality of the construction of the buildings yourself. It’s important to understand the market sentiment as well as review the credentials of the property developer.

If the builder isn’t prompt in addressing your queries or puts off your request for seeing the necessary legal documentation, you might want to reconsider entering into a buying agreement. Do consult your lawyer and financial advisor. Choose the property only if you trust the builder.

4. Location

When buying a flat, good locations to consider in Nagpur at Dharampeth, Hudkeshwar Road and MIHAN. MIHAN, especially, is touted to be one of the most upcoming areas in Nagpur. It is well-connected to the railway station, airport, supermarkets, hospitals, schools, colleges and lifestyle hubs. Check out the neighbourhood, civic infrastructure and proximity to social conveniences before settling on a location.

To get the best returns on your investment, make sure that there’s potential for future development in the region. This greatly enhances your home’s resale value.

5. Specifications & Amenities

A well-designed flat is one that provides adequate cross-ventilation and natural daylight. Check the flat to ensure it meets your standards. Enquire about the quality and make of the sanitary fittings, doors, window frames, plywood, flooring, elevators and more. Ask about the electrification and plumbing done in the house. Make sure that the builder delivers on the listed apartment specifications and common amenities. Examine the facilities such as the security system, fire escape and parking space, before finalising on your home.

6. Price & Payment Plan

No terms of pricing should be kept hidden. The registered agreement to sale or the sale deed must expressly state all the dues. There are a lot of factors that determine the price of a flat in Nagpur. The location and cost of the land, construction materials used, nature of the project, amenities and common areas provided, contribute to the price of the property. You can try comparing the costs of similar flats by different builders in the same location.

Recheck all the payment terms, financing options and interest levied on loans. It’s advisable to pay in Equated Monthly Installments (EMI) starting from the date of booking to the date of possession. If you’re paying through a bank- loan, you won’t need to worry about the legality of the documents as leading banks and financial institutions have a multi-level screening and validation of the developer’s documents.

Remember to keep these pointers in mind. If you’re looking to buy 2 & 3 BHK flats in Nagpur, it’s ideal to invest now while the prices are still low. Mahindra Bloomdale by Mahindra LIfespaces is a stunning 25-acre project of spacious apartments, row houses and duplex homes, strategically located at MIHAN.