6 Points To Keep In Mind Before Getting A Loan Against Property

Loans against property are an ideal financing solution when you are looking for a substantial amount of funds. The tenors are also long which makes repayments hassle-free. Along with that, the low interest rates also make the EMIs affordable.

To elaborate on what is a loan against property, it is a type of secured loan provided against collateral like a residential or commercial property. This collateral remains mortgaged with the lender until you have repaid the loan in full.

Lenders approve and sanction these loans quickly thanks to minimal terms and conditions you have to abide by.

Some of the points you need to keep in mind when applying for a loan against property:

1. The Amount You Avail Depends On The Property Value

Lenders will determine the loan amount you are eligible for based on the market value of your house. Now, financial institutions only provide a discounted amount of your property price as the loan.

As per the RBI, you can avail up to 90% of your property value provided the loan is under Rs. 30 Lakh. This ratio between the market value of your house and the loan amount is known as loan to value or LTV.

Usually, lenders will charge a high interest rate when the LTV increases as it makes the loan riskier and vice versa.

2. The Repayment Tenor Can Stretch Two Decades

Loans against property have repayment tenors that can go up to 20 years to accommodate the large amount.

Longer tenors also make the EMIs cheaper. However, it will increase the total payable interest.

For example, say you have a loan of Rs. 20 Lakh with 11% rate of interest. The EMIs and total interest payable for a 10-year tenor is Rs. 27,550 and Rs. 13 Lakh respectively. These will become Rs. 22,732 and Rs. 20 Lakh if the tenor becomes 15 years.

3. You Have To Provide Several Documents

The mandatory documents required for loan against property are –

• KYC documents (Aadhaar, PAN, etc.)
• Address proof (latest electricity bill, any KYC with the permanent address, etc.)
• Bank account statements of the previous 3 months
• Documents of the property to be mortgaged

Salaried individuals have to provide latest salary slips and income tax returns in addition to the above documents.

4. You Can Use The Loan For Any Purpose

Loans against property are similar to personal loans as both have zero end-use restrictions. You can utilise the funds for any purpose.

NBFCs like Bajaj Finserv provide Loans Against Property up to Rs. 3.5 Crore which can help you address numerous financial gaps.

5. There Are Two Types Of Rate Of Interest

You can choose between a fixed or floating interest rate when applying for a loan against property. While fixed interest rates remain stable throughout the loan repayment, floating rate of interest fluctuates depending on market conditions.

6. You Have To Pay Various Charges With The Loan

Some of the charges you have to pay:

• Processing Fees – Charged to cover property checks, credit checks, etc. Deducted from the loan amount before disbursal.
• Penal interest – Charged when you fail to pay EMIs.
• EMI bounce Charges – Levied when your cheque for EMI becomes dishonoured.
• Statement Charges – Charged when lenders send a hard copy of your loan statement to your home.
• Foreclosure Charges – Levied when you foreclose the loan before the tenor ends.
• Part pre-payment Charges – Levied when you part pre-pay a portion of your loan.

Do note that you don’t have to pay foreclosure and part pre-payment charges if you opt for floating interest rates.

Make sure you know the things to avoid when you avail a loan against property. Now that you know what is a loan against property is, compare the interest rates and pick the right lender.

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5 Ways Customisation Could Benefit Your Business

Modern businesses are now following the concept of mass customisation for standing out of the crowd. Many brands have already gained a huge success with the implementation of this concept.

You can now create a unique identity of your brand if you inculcate this amazing concept in your business. Many brands order custom embroidered patches for representing their brands in the public in a very unique way.

5 best ways of introducing customisation into business:

Customisation has brought a huge change in the marketing field. Customers always love to receive absolutely customised experience from popular brands in the market. Therefore, some of the best customisations mean that are used for convincing targeted communities are as follows:

✔      Business cards: They can represent your business in a perfect way and you definitely cannot deny this fact. Not only your customers but your clients will also come to know about your brand and its associated services from your business card. Now, entrepreneurs are making more efforts in improving the overall appeal of their cards. Waterproof business cards with an amazing kind of logo design can definitely create an impressive feel.

✔      Custom made patches: High-quality fabrics are now getting used for preparing tailored patches. Decorative embroideries are added for representing these patches in a unique style. Now, it has become quite easier to order custom embroidered patches in bulk for meeting the requirements of your business. Choose the right provider that can offer you the best quality patches in bulk at a great price.

✔      Effective feedback system: You should always be in close touch with your customers and this can be done by means of introducing an improved feedback system. Here, you will be able to maintain transparent communication with your targeted communities. Multiple comments or feedback can be received that can help you to improve your brand in a better way. In fact, you can easily plan your future launches on the basis of received feedback.

✔      Unique logo: Your Company’s logo is your brand identity and it plays a great role in marketing these days. People can easily distinguish your brand from others with the help of this logo. Your business and marketing goals will get easily fulfilled if you maintain an exclusively designed logo for your business.

✔      Attractive product proposals: You can now send absolutely customised emails revealing detailed info about your brand and products. Offering free samples can also be very much effective especially for new launches. These email proposals about products are customised only on the basis of the market surveys. 

Customisation is the current trend of the corporate world. It can even help you capture the global market. You can now order custom embroidered patches both for your corporate clients and customers.

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Different genres in photography

We all know that pictures do speak a thousand of words and if one imagines a frame and captures it in that way, it also reflects what an individual is thinking. Capturing the essence is what one considers to be a good photography.

Also, these days taking photography as a proper career option is something which has become a regular thing because there have been a lot of options in the job field in the recent years. But in order to go into the professional sector one needs to have a proper educational background when it comes to photography. There are many professionalphotography institutes where one can enrol in order to do a proper degree or a diploma course in photography.

Also, once the basic course of photography is done, one needs to go for an advanced course where they can focus on a particular genre of photography. There are many popular genres of photography and one can select a stream where their passion lies so that they can take it ahead when it comes to professional photography. Here are some major genres from which one can choose:

Astro- Photography

This is a very specialised genre in photography and of course they are not regular and so the courses that are offered and the equipments that are needed to capture to this are really expensive. This genre is basically common among space researchers and scientists but again technology and science have reached to certain extent that they also have taken it to robotic photography. But this is not a very regular genre in photography that one wants to pursue.

Aerial Photography

Here, this genre lets one to shoot various things from above the ground or while travelling by air. One can get into a helicopter or a plane and then take shots from the above. This one is very popular when one loves to capture some panoramic images of the earth.

Architectural Photography

This is a particular genre of photography where one has to take photos of monuments, buildings and other structures which have some aesthetic value. But this one is more of a professional stream of photography than that of the ones which one wants to continue as a passion.

Candid Photography

Here, all the moments are captured very spontaneously and the subjects are usually aware of the fact that they are being photographed. So, one can go for wedding photography or frame photography just like that without letting know the subject. By doing this, one can capture a lot of candid moments.

Fashion Photography

This is something which is said to be the most glamorous genre in photography. One can spend their lives in runways, model shows, fashion shows and shoots and many more by doing this genre of photography. One can work up and close with the models and celebrities here.

Food Photography

Here one can promote a restaurant or a cafe by taking some delicious food photographs from their menu.

Apart from these one can also go for landscape and wildlife photography. One can also take professional photography classes for that.

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The Best tool to save tax

In this era of financial uncertainty, there are many options offered by the companies and experts with the help of which one can have a better portfolio created. Among the leading options of wealth creation, one can find the place of a mutual fund on top. There are ample options in mutual funds also which can help one get a better rate of return on the amount invested. For the common man, it is necessary to know the world of mutual fund in little depth as there are many funds with different features that can help one get a better return on low investment also.

The ELSS:

The equity-linked saving scheme is known as ELSS in short, and it is a known tool of saving tax on the taxable income. For an investor, the question of how to invest in ELSS can be a tricky one, but indeed the process of investing in ELSS is much simple. In the regular mutual funds, the amount invested does not attract the exemption of the tax, and that is the point where ELSS differs from other mutual funds. The amount in ELSS can be invested in one go or instalments as per the convenience of the investor.

The modes of investment:

Due to the digitization, one can go for investing in ELSS by an offline option or an online one. Usually, the process and documents in both of these options are same only, one can find the online option easier one if he is adapted to the online form filling and transfer of funds. In the offline mode, one has to fill the form manually and provide copies of the documents with the application form. In the online mode, one needs to fill the form online and offer all the soft copies of the documents which are required for the application. For modern users, all the AMCs offer online mode as well as the facility of applying with the help of some of the apps also. Hence investing is made hassle-free and rewarding.

The advantages:

After understanding how to invest in ELSS, one needs to know what the benefits of investing amount in this mutual fund are. The foremost important advantage is one can save tax on his income up to 150000. The lock-in period in ELSS is only three years which means one can get the invested amount with a handsome return after three years which is considered as a short period. One can also have another benefit in the form of investment as in case of tax payment one has to pay the tax in one go while in case of ELSS which helps to save tax one can also go for payment in monthly mode. The return on the fund invested in ELSS is also good which one can check from past record of the concerned AMC. Hence there are many advantages one can have if one goes for ELSS in comparison to any other option in the mutual fund market.

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It is important for every individual to stay up to date with fashion

Design is unquestionably an essential piece of our general public. Individuals have constantly given much consideration to garments and their appearance. Right off the bat, garments served to shield our bodies from the impact of the regular habitat while individuals can barely oppose cold and warmth. With the keep running of time, garments started satisfying different capacities. The social capacity is the most critical one. Individuals of various social classes started wearing diverse kinds of garments. It is relatively important to know to know how to keep up with fashion trends. It turned out to be anything but difficult to see an outer contrast between an aristocrat and a laborer or vendor.

• Ø  Obviously, the distinction relied upon the cost of the garments. Rich individuals or privileged could bear the cost of high caliber and costly textures while the poor could just dream about such items. Very soon, individuals started pondering the excellence of their garments. Surely, this thought existed in the circles of the rich. Respectable people paid a lot of cash to the creators who made extravagant dresses, pants, coats, shoes and caps. The picture of an in vogue individual wound up accentuated with the assistance of various frill, as scarves and tissues. Honestly, the general thought of beguiling and appealing garments has not vanished.
• Ø  Style still assumes a truly impressive job in our life. Give a chance to concentrate on the most established and the essential capacity of design. Individuals have constantly endeavored to contrast from each other. No big surprise, the delegates of various occupations wear distinctive garments. For instance, it is anything but difficult to perceive a specialist, a mariner, a butcher, a craftsman, a judge, a policeman, and so forth. Garments decide our economic wellbeing. When one wears wonderful garments, he is dealt with more decidedly than the customary individual.
• Ø  It's anything but a mystery that individuals utilize great suits and dresses for their advantage. For example, in the event that you choose to get a new line of work, you would be advised to arrive in a quality and slick suit. For this situation, you will be acknowledged better. It is conceivable to state that style is a sort of workmanship. Planners make praiseworthy and remarkable garments that can stress one's social position and esteem precisely. All the time, elegant garments can be worn in the selective circumstances.
• Ø  Additionally, originators frequently produce such things that become exceptionally prevalent among everyday citizens. Now and then, the advancements and changes are so radical and unforeseen that it is difficult to assess another thing emphatically. Actually, from the mental perspective, individuals who wear 'testing' in vogue garments don't experience the ill effects of the feeling of the third individuals. They wear remarkable dresses since they can and they couldn't care less about the perspective of others. Online sites can help to know how to stay up to date on fashion trends.

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Download Instant Loan App and Fulfil your Financial Needs

Do you have urgent financial needs to cover several requirements such as medical urgency, wedding preparation, and home renovation? If yes, then you can apply for a multi-purpose personal loan and get up to Rs.25 lakh within 24 hours.

However, most of the borrowers start facing issues after availing a loan as they are unable to track their loan progress and pay EMIs, among other pertinent activities. What’s more, if there is any dispute, then they need to visit a lender which eats a lot of time.

In the same context, leading banks and lenders have come up with the facility of an online loan app. Just like any other apps on your smart phones, you need to download the loan app and start enjoying many financial services anytime.

Using an online loan app helps a borrower manage his/her earlier and active loan relations, pay loan EMIs, raise a request, and check pre-approved offers.

If you have availed an instant loan from a lender in India, then you can easily opt for a loan app and start fulfilling various financial needs. Read on and know more about what services you can avail using online loan apps in India.

Go for the loan app download and enjoy several financial services

1. Track your active and earlier loan relations- By using the loan apps, you can simply track the progress of your presently active and earlier closed loan relations. It is also easier to download the loan statements via the loan app right on your smartphone and keep it safe for reference purposes.
   
2. Pay your loan EMIs online- You don’t need to visit your lender’s office to pay your EMIs with a cheque. All that you can do is open your loan app and pay EMIs super quick. What’s more, you also keep notifications from the app on your phone about an upcoming or delayed EMI. You can check such notifications and avoid forgetting the loan EMI payment.
   
3. Check out your pre-approved loan offers- Lenders also offer its customers with pre-approved loan offer to help them enjoy some special deals that can minimize the loan formalities to make the process fast. With an online loan app such as Bajaj Finserv app, you can easily discover your pre-approved offers and apply for them by filling in your basic personal details like your name and mobile number.
4. Log grievances- Any loan dispute that you may be facing is now addressable via the online loan app. All that you have to do is raise a request to the lender and get it resolved quickly. You can check the logged request status on the loan app and even a detailed description of all such closed requests.
   
5. Make prepayment and foreclose loan- If you wish to make some prepayment or even foreclose the loan before its tenor, you don’t need to contact your lender. It can be done via the online loan app quickly. Most lenders do not charge any amount for prepaying and foreclosing the loan accounts before the scheduled tenor completion.

Anyone having a loan account should also go for the loan app download of their lenders and make the most of many financial services as discussed.

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Hot Tub Vs Swimming Pool: Which Is Harder To Maintain

Most people like to get engaged in some sort of relaxing activities such as taking a bath in a hot tub. It is, of course, rejuvenating for the users. Likewise, swimming is also a great activity that helps in keeping your overall body fit and healthy in all respects. Having a swimming pool or a hot tub at your place allows you to get engaged in such activities as per your convenience and on a regular basis. At the same time, it is also true that you need to maintain your hot tub or swimming pool regularly and in an excellent condition so that you may keep using the same in a trouble-free manner. Also, it lets you remain assured about your overall safety in all respects while using the swimming pool or hot tub.

Professional service providers such as swimming pool maintenance Essex are obviously there in the related field that helps clients to maintain their swimming pool brilliantly. The number of people is curious to know in this respect which one out of the swimming pool and tub is harder to maintain. We are sharing some important points regarding the maintenance of the two that may let you clear your doubts. Carry on with the article.

Hot Tub:

●       Temperature issues

Due to the lesser volume of water in a hot tub, it is very difficult to ensure total cleanliness. It is because the warmer temperature inside the hot tub makes it harder to maintain the requisite disinfectant levels. It is very important and necessary to maintain certain levels of disinfectant in the hot tub in order to eliminate the germs.

●       Frequent cleaning of the filters required

Definitely, the filters of a hot tub need to be cleaned after a few weeks and regularly. It is all due to the high concentration of chemicals and other substances in the hot tub. The smaller volume of the hot tub makes the filters more prone to clogging. Hence it is quite harder to maintain.

●       A high chemical requirement for cleaning

Though hot tub is quite small in comparison to the swimming pool however chemical requirements to clean the same are comparatively high.

Swimming pool:

●       The favourable temperature inside the pool water

In the case of a swimming pool, the temperature required for killing the germs using various types of disinfectants can be easily maintained. Hence it is quite easy to clean and maintain the same as per swimming pool maintenance Essex or such other service providers around.

Filter cleaning lesser frequently

The filters of a swimming pool needs to be cleaned only once or twice a year. Hence it seems to be quite easy for the users to maintain the same.

Obviously, you can easily maintain a swimming pool and keep using the same effortlessly.

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