The Stand Up India scheme is aimed at promoting entrepreneurship at the grassroots sections of the society. The scheme was launched in 2015 to promote funding for green-field projects promoted by SC/ST/Women entrepreneurs. The scheme facilitates bank loans between Rs 10 lakhs and Rs 1 crore. Let’s find out more about the loan scheme. Stand up… Continue Reading
Anyone can face a financial emergency or may need funds to tide over a crisis. There are many ways to arrange funds. You can seek short term assistance from a friend or family. There is an option of gold loan or a property loan. If you are young, you can apply for a personal loan. However,… Continue Reading
Higher education is getting expensive every day. For many families, such education must be financed through an education loan. All the banks and NBFCs provide education loans. In this post, I will discuss a popular education loan scheme from the State Bank of India: SBI Student Loan Scheme. SBI Student Loan: Important Things to Know Eligibility:… Continue Reading
You are planning to move from your existing house to a bigger house. You plan to sell your existing house to fund the purchase. However, there is a minor problem. To purchase your new house, you need the sales proceeds of your existing house. Now, closing a deal (acceptable to you) may take some time. How do… Continue Reading
In an earlier post, we had reviewed a personal loan scheme from Bajaj Finserv. In this post, let’s pick a personal loan product from the State Bank of India, the largest bank in India. We will take a look at Xpress Credit Personal Loan Scheme from SBI. SBI Xpress Credit Personal Loan: Salient Features Available under… Continue Reading
What is Earnest Money Deposit? As per Investopedia, Earnest Money is a deposit made to a seller showing the buyer’s good faith in the transaction. Earnest Money Deposit is useful in transactions where the buyer has an option to back out at a later date for any reason. If the buyer backs out of the deal,… Continue Reading
Home loans are offered at a spread over the benchmark. Typically, the benchmark is related to cost of funding for the bank. For instance, MCLR (Marginal Cost of Funds based lending rate) and Base Rate are based on cost of funding for the bank. The quantum of spread depends on multiple factors including quantum of loan, nature… Continue Reading
In this post, I will list down various gold loan products from Muthoot Finance. We have done a primer on gold loans in an earlier post. We have discussed a gold loan product from Axis Bank too. Coming to Muthoot Finance, you will be amazed at the number of loan products a gold loan company like… Continue Reading
MUDRA stands for Micro Units Development and Refinance Agency Ltd. MUDRA was setup by the Union Government in FY2016 to provide funding to non-corporate, non-farm small business enterprises and entrepreneurs. The biggest problem that small businesses and entrepreneurs face is that of funding. It is a known fact that banks and financial institutions are not very… Continue Reading
A few days ago, I watched an interesting TV commercial for a personal loan product from Bajaj Finserv. The product is Bajaj Finserv Flexi Loan. Let’s find out more about the product. How Does the Bajaj Finserv Flexi Loan Work? Think of it as a credit line. You can withdraw/borrow or repay as many times as… Continue Reading