The gold loan has been one of the trending loan facilities for meeting instant financial requirements. Gold being one of the most liquid assets in the world makes it easier for people to get instant cash when required. Be it for settling an emergency medical bill or for conducting a funeral; gold loan helps to meet an individual’s unexpected expenses that cannot be covered under a credit card.
What is a gold loan?
By following the various laws governing the operations, you may begin a business in India. These include industry-specific laws as well as banking laws that can affect the way companies are run. With the recent implementation of the GST law, most businesses fall within the formal sector, which deters cash transactions. Due to their very existence, companies have transactions which are not personal.
Do you remember the advice given by the older generation to divide the cash in smaller denominations while travelling or when going for a vacation?
It was quite a smart technique to save you from cash problems if you lose your wallet. But those days of being exclusively dependent on cash are gone. Plastic money, particularly credit cards, have made things so much simpler for everyone. Along with making purchases convenient, you can also save a lot in the form of cashback, rewards or direct discount with select partners.
One of the best options if you want to purchase your dream car is a four-wheeler loan. With online loan application and approval becoming extremely simple, it is possible for anyone to apply for this loan online on the lender’s website and then get the loan approved and get the funds to purchase his dream car.
A personal loan is one of the most versatile options available in the market. It is also popular among people. Several lenders offer them to customers to upgrade their lifestyle. Higher disposable incomes have meant people opt for this loan to meet different expenses.
The biggest reason it is in demand is because it is unsecured which means no collateral. Lenders do not put up any conditions for the usage of funds, which means they can be used for any purpose. It is for this reason that personal loan interest rate can get high sometimes.
Associated charges:
The procedure availing of personal loans are extremely simple both online and offline. To apply for personal loan, you just need to fill up the loan application form either online or offline and then submit documents. The lender then verifies the loan application and if you fulfil the criteria, the application gets accepted.
However, selecting the right lender to apply to is a task. Only selecting a lender with cheap interest rates may not be enough while making this loan application.
Following are some things to keep in mind when you avail of a personal loan India –
One of the biggest deficiencies in India is the lack of a public healthcare system. When there is no social scheme to take care of medical expenses of the people, it ends up pushing people into poverty because they have to borrow funds to keep up medical treatments. The Government introduced Rashtriya Swasthya Bima Yojana did little to change the numbers and provide quality medical treatment to people.
Mobile banking is the new age version of banking where services that were earlier made available through branch based banking are also now available in smartphone applications on each person’s mobile phone. This has revolutionized banking to such an extent that people are using mobile banking apps to transact with the bank and fulfil their needs and requirements.
But as a layman, it is very important to know mobile banking services so that you can choose to make the shift to to mobile banking.
Here are some services available in mobile banking:
With the introduction of smartphones and money transfer app, banking and fund transfers have undergone a sea change. Developments in digital banking have led to different wallet based apps that have helped simplify money transfers between people.
One of the most important considerations for a person when he moves abroad is what to do with his funds in India. As per Foreign Exchange Management Act (FEMA), a person who becomes a non resident cannot have a savings account in his name. However, the existing savings account can be converted into a Non Resident External (NRE) or a Non Resident Ordinary (NRO) account.
