The Benefits of Having a Good ICRA Rating

Credit Rating is the evaluation of a company's financial worthiness with respect to the market as a whole. The higher the credit rating, the more trustworthy the company's investment are and vice-versa. Credit Rating is a huge factor that affects major players in the markets such as potential investors, financial companies and venture capitalists among others. All the instruments whatever the tenor [i.e.-Long term and Short Term] will affect the company's credit rating respectively. ICRA stands for Information and Credit Rating Agency of India Limited. It is the second largest credit rating agency in India. ICRA has acted as the go-to credit rating agency for all the potential investors, financial institutions and creditors since 1991. The parent company of ICRA is Moody’s Investor Service, one of the three biggest credit rating agencies in the business. The primary task of ICRA is providing information and guidance in the form of ICRA ratings, grading and research.

ICRA Rating Scale based on Long, Medium and Short term

Rating Definitions	Symbols used in Short Term	Symbols used in Medium Term	Symbols used in Long Term
This is the highest credit rating assigned by ICRA. This particular instrument carries low credit risk.	AAA AA+ AA AA- A+ A	MAAA MAA	LAAA/AAA LAA/AA
This is an adequate credit rating assigned by ICRA. This instrument carries an average credit risk.	A- BBB+ BBB	MA	LA/A
This is an inadequate credit rating assigned by ICRA. This instrument carries above-average credit risk.	BBB-	MB	LBBB/BBB
This is a risk-prone credit rating quality assigned by ICRA. This instrument carries high credit risk.	BB+ BB BB- B+ B B- C+ C C-	MC	LBB/BB
This is the lowest credit rating quality assigned by ICRA. This instrument carries are in default.	D	MD	LD/D

What are the benefits that come with Good ICRA Ratings?

The benefits available to a corporate entity with respect to favorable ratings are

It provides benefits to the financial intermediaries and brokers as they have to put less effort into analyzing the creditworthiness of the client.

ICRA ratings are a good way of earning the recognition through the investor base, and a favorable rating goes a long way in doing so.

Good ratings work as a marketing tool on its own for the companies respectively.

It allows raising funds with fewer efforts on the company's side as investors don't need to be attracted anymore.

It facilitates effective pricing along with adequate timing for issue respectively.

The company which possesses higher ratings would be able to widen its audience by using the respective Media for the purpose of resource mobilization. 

ICRA ratings promote lower cost of borrowings for the company in general.

These ratings are used as a rule of thumb for individuals before making an investment decision.

Optimize the benefits with Bajaj Finance

To optimize the benefits availed with favorable rating choose Bajaj Finance Fixed Deposits-

• Bajaj Finance has been categorized MAAA under ICRA which ensures high stability and credibility along with assured gains.
• The online Fixed Deposit Calculator helps to evaluate the returns in advance as well as calculate the applicable Fixed Deposit interest rates.
• One can enjoy the accessibility that comes with Bajaj Finance’s 200+ branches across India.
• One can also track the status of FD application as well as manage the FD account online under this fixed deposit scheme.
• Bajaj Finance Fixed Deposit offers flexible tenors to its clients with a period between 12 and 60 months.
• The company has also been categorized FAAA under ICRA which ensures high stability and credibility along with assured gains.
• Under this scheme, renewals on policy avail the account holder an additional 0.25% and more interest as compared to the last interest rate applicable under this policy.
• The interest rate provided under this scheme is 8.75%- 9.10% per annum.
• Senior citizens under this scheme can avail 0.35% higher interest rates under Senior Citizen FD scheme.
• There is a special tenor under this policy provided for a period of 15 months which provides an interest rate of 0.25% more as compared to the policy which is for a period of 12 months.
• To open a Fixed Deposit account under this scheme, a minimum initial deposit of Rs 25,000 /- is required.

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Things To Consider Before Opting For Mortgage Loan Transfer

Have you taken out a mortgage loan but feel your present lender is charging you a high interest? It’s time you consider getting your loan transferred. But even in the case of a better rate of interest, you should be cautious before transferring the loan to another lender. 

This article gives a brief overview of the factors you should consider before making a switch. 

Factors To Consider Before Deciding In Favour Of A Mortgage Loan Transfer

1. Check The Overall Amount: Your new lender may offer you a more lenient repayment option. The value of the EMI may be smaller and the loan tenure may be longer. But you should keep an eye on the final and total amount to be repaid. Remember that each EMI carries an interest component. So, a higher number of EMIs may lead to an overall larger payment made to the loan provider. 

2. Calculate All The Fees Involved: When you begin your association with a new lender, you must fork out several fees. These include the processing fees, administrative fees, technical fees, stamp duty, legal fees, and so on. A mortgage loan calculator will help you assess how much extra you should pay for these fees. Make the transfer only when you will make a profit. Otherwise, continuing with your existing lender may be a wiser option. 

3. Value Of Outstanding Loan V/S Mortgage Value: Suppose you have already repaid a large percentage of the loan. In this case, check the value of the collateral before making a mortgage loan balance transfer. You don’t need to have a collateral that is higher in value than the amount to be repaid. Negotiate with your new lender to check if the values could be adjusted. Make the transfer only after you strike a good deal.

4. Additional Benefits Offered: A loan is not just about borrowing and repaying money– it is also about convenience and ease of repayment. You need to have a lender that allows you to carry out your transactions in a simple and efficient manner. For instance, you should be given a zero-balance account in the bank from where you take the loan. You should have access to the netbanking facilities through which you can pay your EMIs. You must have a relationship manager who would help you with your queries. Before making a transfer, make sure your new lender has these facilities on offer. 

5. Terms And Clauses: Never be in a hurry to transfer even if you get instant mortgage loan approval from a new lender. Take your time and go over the loan clauses. You should comb through the fine print to check if there are any hidden charges or mandatory clauses. You should look to transfer your loan to a lender that doesn’t have too many complicated clauses. This will help you prevent unnecessary issues from cropping up later on. 

6. Added Benefits: A new lender may attract you by offering a free credit card or good insurance cover. While these might be helpful, you need to see if they would be of any real use to you. Do not transfer your mortgage loan simply because you stand to get a credit card that you are never going to use! But if a new lender has some genuinely good offers for you, do take them into consideration and make a switch. 

Choosing A Lender

Banks and NBFCs like Bajaj Housing Finance Limited offer pre-approved mortgage loans. In fact, Bajaj Housing Finance offers a maximum loan amount of Rs.3.5 crore. You can repay this loan with interests over a maximum period of 20 years. 

Last But Not Least

Carefully consider all the points mentioned above before going for a mortgage loan transfer. You must calculate the mortgage loan interest rates and the fees. You must also take the points of convenience into account. Once you are sure that a mortgage loan transfer will help ease your repayment process, you are good to go.

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What Documents Do I Need to Get Engineer Loan?

Engineer Loan offers much-required financial assistance to the engineering professionals who want to set up their own business, buy personal assets, or pursue higher education. These loans can be availed by both salaried and self-employed engineers to meet their diverse personal and professional financial requirements.

Broadly speaking, professional loan for engineers can be classified into two different categories:

• Personal loans for salaried engineers
• Business loans for self-employed engineers

If you have completed your engineering course and have obtained an engineering degree certificate, you can apply for your preferred loan option based on your current professional status. However, before applying for engineer’s loan, it’s imperative to know about the documents required for availing them and also, whether you are eligible for it or not:

Documents required for availing engineer loans

Most of the documents required for engineer loans are same as documents needed for availing any other type of loan. However, since these loans are meant exclusively for engineering professionals, you also need to submit relevant documents to establish your educational and professional qualifications. Here are the complete set of documents required for availing professional loan for engineers:

Valid photo identity proof

A valid identity proof is required by the lender to authenticate your identity and eliminate any possibility of fraudulent activities. The following documents are usually accepted as legal identity proof by most of the lenders in India:

• Aadhar card
• Voter ID card
• PAN (Permanent Account Number) card
• Valid driving license
• Valid passport

Proof of residential address

Proof of your residential address is very important for lenders to complete the verification process. It will also help them to communicate with you in future to convey vital information regarding your loan such as any changes in terms and conditions of the lender, fluctuations in interest rates, and timely reminders for your EMI payments etc.

All the valid identity proofs with your address mentioned in it are accepted as proof of address by the lender. It includes your Aadhar card, Voter ID card, ration card, driving license, telephone bills, electricity bills, valid passport etc.

Passport size photographs

Your recent coloured passport sized photograph is another crucial document needed by the lenders for establishing your identity and other administrative purposes. In general, you need to submit 3 to 6 passport sized photographs to the lending institution for availing engineer loan. Also, make sure that the photographs submitted by you is not more than six months old and is free from distortions.

Proof of Age

Since the age of the applicant is an important factor in determining his/her eligibility for engineer loans, you need to submit the relevant documents to justify your present age. The following documents are accepted as proof of age by the lending institutions:

• PAN card
• Passport
• Birth certificate
• Driving license
• Class X marksheet

Proof of academic qualification

As engineer loans are designed exclusively for engineering professionals, proof of your academic qualification becomes necessary to establish your credentials as an engineer. These documents may include your engineering degree certificate or duly passed marksheets of B.E, B.TECH, M.E, or any such equivalent course. Additionally, the lender may also ask for your high school and higher secondary marksheets.

Proof of Income

Your monthly income is another vital parameter in determining your personal or business loan eligibility. Hence, a proof of income is mandatorily required by the lender to evaluate your repayment capability and eventually decide whether to approve your loan application or not.

If you’re a salaried employee, you can submit your salary slips for the last six months along with Form 16 or your bank statements for the same period as your income proof. On the other hand, self-employed engineers can furnish their IT returns, balance sheet, assessment order copies and bank statements for the last three years.

Bank account details

Since the loan amount will be disbursed to your bank account directly, the lender will need documents to record your bank account details correctly. You can submit documents such as latest bank statements, copy of the first page of your passbook, or a cancelled cheque to register your bank account details with the lender.

In case you fail to provide any of the above documents to the lender, your loan application might be rejected. You should check and compare engineer loan interest rates offered by various lending institutions and choose the best suitable product as per your financial requirements and capabilities.

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Business Financing Options in India for Women Entrepreneurs

Out of the 58.5 million entrepreneurs in India, around 14% are women as per the Ministry of Statistics and Programme Implementation in their 6^th Economic Census. While 65% of women entrepreneurs work in retail and manufacturing, around 13% are engaged in the agricultural sector.

The number of businesses run by women has seen a considerable rise over the last decade along with an ever increasing growth chart.

Better infrastructure, improved access to education, and growing acceptance of women entrepreneurs are some of the factors contributing to this rise. Another critical factor is the easy availability of financing.

The Government and also various NBFCs provide business loans for women entrepreneurs to help them establish their own firm.

The Indian Government currently offers two types of loans for women:

1. Stand-Up India scheme

The Stand-Up India Scheme enables at least one Scheduled Tribe (ST) or Scheduled Caste (SC) and one woman to avail loans from a centralised financial institution. Borrowers can avail loans between Rs. 10 Lakh and Rs. 1 Crore.

The applicants have to be at least 18 years old to avail this loan. This scheme is only available to those looking to establish a greenfield firm.

The Stand-Up India Scheme provides financing of up to 75% of the project cost. Borrowers can bring in the rest 25% from other State or Central Government scheme. However, they have to contribute at least 10% of the project cost on their own at all times.

2. MUDRA

The Micro Units Development and Refinance Agency Bank (MUDRA) is part of the Pradhan Mantri Mudra Yojana (PMMY) aimed at providing loans up to Rs. 10 Lakh to micro enterprises.

The MUDRA scheme provides three types of products:

• Tarun - Loans between Rs. 5 Lakh and Rs. 10 Lakh.
• Kishor – Loans between Rs. 50,000 and Rs. 5 Lakh.
• Shishu – Loans up to Rs. 50,000.

Lenders are allowed to provide additional features like a lower rate of interest when sanctioning a loan for women entrepreneur under this scheme.

NBFCs also provide business finance. These loans are one of the great sources of funding for women entrepreneurs and have some features that are more beneficial than the above two schemes.

For example:

1. High and collateral-free financing options

Women can avail funds up to Rs. 30 Lakh for utilisation in any business need such as buying new equipment, leasing workspace, to boost business operational finances, etc. Plus, these loans are also collateral-free and require no asset as collateral.

2. Rapid approval

One of the ideal features of a business loan for women entrepreneur is that NBFCs can approve a loan within 24 hours.

3. Pre-approved offers

NBFCs and banks provide pre-approved offers which save time when availing financing by making the process straightforward. Pre-approved offers are available on business loans, personal loans, home loans, and several other financial products and services.

4. Short-term and long-term repayment tenors

Tenors for business loans range from 12 to 96 months giving ample time for prepayment to women.

5. Minimal documents required

Women have to provide only the following documents:

• KYC documents – PAN, Passport, Aadhaar, Voter ID, Driving License, etc.
• Certificates or documents proving the existence of the business.
• Bank account statement of the last month.
• Financial documents.
• Income tax returns of the previous year.

NBFCs may also require documents other than the ones mentioned above.

6. Simplistic eligibility criteria

Financial institutions need women to satisfy the following business loan eligibility criteria:

• Age between 22 and 55 years.
• A business that is at least 3 years old.

Some NBFCs may also require customers to hold a minimum CIBIL score of 750. A high credit score can help women benefit from lower business loan interest rates.

Women can apply for a business loan online within a few minutes. Some NBFCs also provide the option to manage the loan account online.

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How To Choose A Good Skip Bin?

Keeping your home or office clean is less tiresome with the right tools and types of equipment. Have you heard of the skip bin? Yes, the huge metal or plastic bins that could measure up to 3 ft tall. They could make your home/office cleaning efforts easy and efficient.

Here are a few things you need to know to choose a good skip bin for your home/office. You can book a skip bin in advance in order to benefit from same day turnaround delivery and pick up. It helps minimize time on site for skip bins. Now, let’s see what makes a skip bin the right choice.

The Tougher Skip Bin Makes The Deal

It’s practical for a skip bin to be tough and sturdy for easy handling by waste removal trucks. It deals with a wide variety of waste materials ranging from perishable produce to electronic waste. The right material for a skip bin is metal or plastic.

A good skip bin is lined with superior aluminium checker steel plate. It adds to its durability. The bin will handle all types of materials including construction waste and clean fill. You’ll need to choose the right type of skip bin depending on the type of waste removal.

The Right Skip Bin Size For Different Purposes

A good skip bin needs to have high walls. It helps contain waste efficiently without any spillovers or leaks during transportation. Adding to it, it also allows for maximum fill.

A skip bin features high walls at 90 degrees to the base. It provides absolute safety and protection to the waste materials being transported. The bin size varies from 10m³ - 30m³ to suit different purposes. You can hire the skip bin size to meet your needs at the right cost.

Industrial-Grade Bins For Heavy Loads 

Skip bins for special purposes like industrial waste removal need to carry and dispose of heavy loads. Hooklift bins with a rear door are a great value addition to your waste removal drill.  It allows access to the wheelbarrow for loading waste disposal.

Large-scale residential waste removal tasks including home renovations demand specialized skip bins. Likewise, construction sites also need hook lift skip bins for heavy-weight lifting and loading. It helps dispose of construction waste removal with ease.

Compact in size

Compact and comfortable to handle are essential features for a good skip bin. Skip bins are more often taken on mini trucks and need easy access to most hard to access areas in residential and commercial spaces.

A compact skip bin good is easily transported to and from properties at remote locations. They can replace large-sized skip bins as and when needed to do the job right.

A well-designed skip bin comes in different sizes based on your needs. The size, shape and several other factors are taken into account to choose a good skip bin. Professionals like www.newcastleskipbins.com  make waste removal done in a breeze. Did you know? Some professionals can also help organise 28 days Newcastle City Council Permit under their licensing and insurances.

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In many countries it is hard to get water cleaned through proper filtration process

In youthful nations, there's a nonappearance of structure to give consumable water. Moreover, even in our very own homes, faucet water unsafe quality is a genuine worry, as poisonous substances like lead and arsenic have been found coursing through the tap. Its lone one reason that water advocates which trust that change assimilation is the most ideal approach to manage affirmation safe drinking water. Notwithstanding the manner in which that rotate absorption sounds like a science class you might've missed, believe it or not, it's single a sort of filtration process. The Kent service center tollfree number Noida can promptly support you if there is any kind of question with respect to water purifiers. Hence around ingestion, untreated water, similar to saltwater, goes through a semi vulnerable film and carbon channels.

What is the effective way of using water filtration system?

•     The level of the film enables the water to go through the channel, yet deserts salt, synthetics, minerals and dirtying impacts. One may have utilized even switch assimilation in a water channel on an outside trek to guarantee you had safe drinking water. One can in like way present a RO framework in your home or have a turnaround processing channel at home. There are central focuses to drinking water that is experienced the alter assimilation process. On the off chance that you live in an area that is tormented with water issues and concerns, this can be a not that entire terrible route for you to feel safe about the water that you're drinking. On the off chance that pesticide or herbicides are a worry in your general vicinity, sifting your water through a switch retention structure looks great.

•      Presently, at whatever point you require new water, you can essentially flip on your tap and pay pennies on the dollar. In the event that you are raising a family, a water filtration structure will pay for itself in only minutes. Nothing in this world is immaculate. Correspondingly likewise similarly as with all things, there are two or three disadvantages to rotate absorption filtration. While drinking unadulterated, new water shields you from damaging debased water, it in addition shields you from getting full sustenance. There are different improvements present in water that can't encounter the semi vulnerable layer utilized amidst the filtration methodology.

•      The film isn't fit for telling which fixings are remarkable and which are awful. These significant minerals are a key piece of your eating plan. By the by, these minerals and upgrades are speedily accessible in all sustenance's. One should interpret by far an expansive part of them from your sustenance use and not through water at any rate. For the general population who are worried over improvement need, consider taking moves up to guarantee you get legitimate confirmation. The Kent RO service Noida is ideal to help with after establishment water purifier administrations.

What are the various process involved in filtration?

•     The water you use in drinking and cooking additionally picks the flourishing of you and your relatives. The filtration of water is a need regardless of when you get treated water in your home. A piece of the time treated water contains chlorine content, which is what's more harming to your flourishing. In case you require more inspirations to use isolated water, here are most of the great conditions that you gain with this little change in your home. Water purifiers ensure that water is free from the majority of the synthetics and other savage fabricated blends which may spoil nature wherever degree. The filtration of the water ousts all the paltry substance from it. Thusly, the water holds only the strong minerals that your taste buds like. Hence, when you use cleaned water in cooking tea, coffee or some other drink, it overhauls the substance of the refreshment. Kent service center toll free number Noida can support you in the event that one is ever stuck in picking the correct kind of water purifier.

•     A comparable effect is gotten when you cook sustenance with refined water. The chlorine content in the water disturbs the sustenance you cook. Corrupted water changes the shading and the essence of the sustenance. Along these lines, the fixings used, while cooking, don't offer their best inclination for the dish. When you cook your dishes with cleansed and detached water, it gives new statures to your cooking. The sustenance looks and tastes additionally welcoming, which considers everyone. For people who love organizing, unadulterated water is a dimension out need have settling while in the interim warming. The path toward warming circuits yeast. The yeast gives volume and structure to the bread or some other engineered sustenance. In any case, the use of unfiltered water diminishes the effect of yeast.

•    The portions of unfiltered water react with yeast. In this manner, it is essential to use unadulterated water in the process with a complete objective to overhaul the quality. Improves water drinking propensity as drinking persistently water is useful for your prosperity and skin. Regardless, an odd taste can restrict you from drinking the essential whole reliably. The isolated water tastes better, which empowers you to have much progressively every time you drink.

In in this manner, since you know the tremendousness of using isolated water for drinking and cooking. Water purifier is ending up basic nowadays as water is required for each person and it is nearly required different huge purposes so the bigger piece of this makes fundamental to get the perfect water and purifiers help to clean the water which makes it solid. Kent ROservice Noida is there on the off chance that one has any sort of inconvenience of with purifier. Each purifier need an administration after a specific time allotment and that is especially best in the event that one consider productive specialist organizations who give extraordinary kind of administrations in long run.

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5 Reasons Why Funding Your Next Trip Using Travel Finance Is a Great Idea

The holiday season is set to begin in India with most of the people waiting for their kids’ summer vacation to begin. It is the time when you won’t get reserved seats in trains and the airline fares peak due to high demand.

Someone wants to go on a holiday to take a break from their hectic work schedule and come back refreshed. However, the hurdle that they may face is in the form of money. As a result, you can see many people applying for travel loan.

Travel Loans in India are nothing but an extension of the personal loan, which is curated to meet your travel needs in India and abroad. You can use the funds availed under the personal loan for travel to book air tickets, hotels, overseas attractions, and beyond. Anyone who can meet a lender’s travel loan eligibility can apply and get approval for it. Most of the leading names in the finance industry can let you borrow up to Rs.25 lakh to enjoy a full-fledged holiday in your preferred destinations.

If you wish to know some reasons why availing the personal loan for travel is useful, then you should go through this post to know more.

Reasons To Apply For Travel Finance To Fund Your Next Trip

1. A higher loan amount of up to Rs.25 lakh

When reputed banks and NBFCs can offer you up to Rs.25 lakh; why not grab this opportunity with both hands and enjoy your holiday without compromises? It is because you and your family deserve to relax, rejuvenate, and get pampered on a trip regardless of the expenses. You don’t need to worry about the repayments as you can repay over a tenor of 12-60 months. This way, you can ensure that the repayment is easy and non-taxing on your monthly expenses.

2. Instant approvals and super fast disbursals

Once you have decided to go on a vacation, you don’t want the planning to be affected due to the slow loan processing of your lenders. Financial agencies are fully aware of such scenarios, and they offer approval within 5 minutes after you submit the form. After you have the approval for the travel finance, you can get the loan amount to be disbursed into your bank account within 24 hours.

3. The facility of flexi personal loans

When you are on a trip, you may use funds as and when required. Hence, why should you pay the EMI on the credit limit that you have not utilized yet? Yes, you can make the most of the flexi personal loans to pay only the interest as EMI on the utilized money out of your credit limit. The rest of the loan amount gets adjusted after the end of the loan tenor. As a result, you can save up to 45% on the EMI payments on your personal loan for travel. Hence, when you are applying for a travel finance facility, you should ask your prospective lender if they offer a flexi facility on personal loans or not. The flexi loan feature is only available presently with some renowned NBFCs in India.

4. Hassle-free loan eligibility and documents

Lenders don’t want you to spend time meeting the loan formalities in the form of matching the personal loan eligibility Criteria and submitting too many documents. You can spend your time exploring the places online that you are visiting or packing instead of worrying about loan formalities. As a result, the travel loan India facility comes with hassle-free eligibility along with some basic documents. Have a look:

• The applicant needs to be under 23-55 years of age
• He/she should be a residing citizen of India
• You need to be working for an MNC, public or a private limited company
• KYC documents
• Employee ID Card
• Salary slips of the last 2 months
• Previous 3 months’ bank account statements of the salaried account

5. Online loan account management

After you have availed the personal loan for travel and want to access its details from your office, home or anywhere else, it is possible via a lender’s digital customer portal. This way, you can track your entire loan details 24/7 such as EMI paid, upcoming dates for EMI payments, the applicable rate of interest and much more.

If you are looking to spend some quality time with your family and need some funds to arrange the trip, then you can apply for a personal loan for travel right away.

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