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What is Business Loan & Benefits of Business Loan

You have finally decided to take a plunge and start your own business. But before you can get going, you need to sort out the finances to support your business. This is where a bank loan for business can come to your rescue. Let us take a look at how to get a business loan to help your dream take off. What is a business loan? Business loans are unsecured financial assistance provided by banks and NBFCs in India. The primary aim of these is to support the urgent needs of your growing business. Most financial institutions offer term loans...more
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9 Ways to Plan Your Dream Destination Wedding On a Budget

We are still reeling under the effects of the exotic location where Deep-Veer tied the knot. Now you and your fiancé have also decided to have a destination wedding. You want the . But finances are a cog in the wheel of your dream. Worry not – here are the top 10 destination wedding ideas on a budget. 1.Plan as soon as you can The old proverb goes – the early bird catches the worm. If you start planning your destination wedding well in advance, you will be able to get the best deals on airfares and hotels. As soon...more
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What Is a Mortgage Loan? 5 Things You Need to Know

You must have come across the term ‘mortgage’ many times while going through your loan application and wondered what it means. Simply put, it is a kind security. When the financial assistance availed from a bank or NBFC is a secured one, collateral has to be provided. Below is a simple primer to help you understand what a mortgage loan is. What is a mortgage? A loan which is backed by security over property or real estate is called a mortgage backed loan. Several types of loan can be in the nature of a mortgage backed loan, home loan being...more
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Personal Loan for Self Employed

Once you have started your own business, one of the things that you may often grapple with is selecting the right kind of financial assistance to help your business grow. As a start-up company, you may explore the route of approaching venture capitalists. But what if you are self-employed and desperately need loans to help your business go to the next level? A personal loan for self employed can come to your rescue in these moments! Sceptics can often claim that loans for self employed are not the correct thing to explore. For those individuals, a business loan is a...more
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Best Tax Saving Investments Option in India

Smita is an employee at a bank. She was looking into different avenues to save tax as the financial year came to a close. She meticulously analyzed the different tax saving instruments and found out some instruments reduced her tax outgo and gave her additional income. Smita knew that investing in tax saving instruments, could help her reduce her taxable income, but what she did not consider was the taxability of the income earned from them. If you’re wondering how to save income tax, there are a whole range of investments that allow a deduction of taxable income, which help...more
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Index Funds and ETFs – another Investment avenue

In the world of investments an investor has to walk on a tight rope balancing between risk and return. Amid decline in the savings bank rates, investors are forced to look at other alternate assets to park their savings to generate that extra return to shield from inflation. Among the alternatives equity is the first asset class any investor come across due to its attractive features like long track record of superior returns, convenience of entry and exit with-out any lock-in period, lower ticket size, lower transaction cost and lower tax on capital gains, however, many investors are pulled back...more
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Home Loan Tax Benefits

Acquiring a home loan can assist you to save tax as per the provisions of the Income Tax Act 1961. With every passing year, the home loan tax benefit increases to provide the borrower with a relief. A home loan can turn out to be an expensive affair if not planned efficiently. But, with the various income tax benefit on the home loan, there are still opportunities left for the borrower to enjoy their new home as well as save money year on year. Discussed below are the home loan tax benefit 2018 – 2019 assessment year that provides income...more
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CAGR Meaning – What is Compound Annual Growth Rate

What is CAGR? Any investment that provides you with the advantage of compounding can assist you to build and double your wealth. Compound Annual Growth Rate CAGR demonstrates the growth of an individual’s investment over a specific period. Specifically, it is the average returns an investor has earned on his investments after a said period say one year. Banks and financial institutions calculate this rate in terms of a percentage. A constant rate of return cannot be provided by a single stock or a mutual fund year on year, since the rate may change. Additionally, if you make many investments,...more
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Different Types of Investments in India

Investing is not about getting rich quickly, but rather a way to continually grow the wealth you already have. With several types of investment schemes available, you don’t have to have a lot of wealth to begin investing. There are different types of investments depending on the investor, their net worth and profile, varied investment opportunities can be carefully chosen and a long term plan charted out to achieve maximum returns. Let us have a look at types of investment in India : 1. Public Provident Fund: It is considered the safest and most secure long -term investment product amongst...more
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Advantages & Disadvantages of GST in India

One of the most significant indirect tax transformations of the country was the Goods and Services Tax – GST. Even though it helps boost the economy, there are various advantages and disadvantages of GST. Let us look at some of the GST Advantages and Disadvantages What are the benefits of GST? GST benefits in India will assist the Government as well as the consumers in the long run in creating a win-win situation for both. Some of the advantages of GST in India are enlisted as follows: • Mitigation of Cascading effect : Under the GST administration, the final tax...more
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