Tag Archives: Personal

How To Know You Got The Best Personal Loan Interest Rates?

How To Know You Got The Best Personal Loan Interest Rates?

A personal loan is a good option for those who require funds to meet their financial obligations. This loan is considered a better choice amongst the other options as the borrower gets a huge loan amount at a relatively low rate. With this option, the borrower can avail a large amount of funds in an organized manner while satisfying his immediate needs. But how does one know what are the best personal loan interest rates in India? With these few steps and some research, you can easily get the best rates.

Compare The Interest Rate

A personal financial credit is best known for its low rates and higher principle amount. The various institutes will offer various interest rates on this financial aid. These rates will also be based in accordance with your requirements. But to get the best personal loan interest rates in India, you will need to compare the offerings of the other financial institutes. These interest rates will differ in accordance with the market conditions, loan amount and many more factors. But you must select the one that is most favorable to your needs.

Always Check For A Favorable Principle Amount And Interest Rate Ratio

The second factor you must keep in mind before you select the loan is the principle amount and interest rate. To get the perfect personal loan interest rates in India, you must ensure that the loan package you select has the perfect balance between the principle amount and the interest rate. While a higher principle amount will offer you a financial convenience, it also comes with a high interest rate. This high interest rate, in turn will prove to be troublesome when it comes to repaying the loan. Therefore, always ensure that you have a good principle amount to interest rate ratio well before you accept a loan

Choose The Right EMI As Per Your Needs

The EMI allows you to repay the loan amount on a monthly basis. However, you will need to check the right rate with your preference. If you are not careful, you may end up paying most of your salary in paying of the loan, without allowing you to save for the future. Additionally, this will prevent you from applying for any other loan in the near future unless you pay off the loan. With the right EMI rate, you can easily pay back the loan amount while allowing you to save for the future.

A personal loan is an ideal solution to satisfy any of your financial obligations. However, if you need to select the best loans, you will need to consider a few facts before deciding on the right loan package. Once you have considered these factors, you can apply for your ideal loan and repay the amount with considerable ease in no time.

Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about the personal loan interest rates in India. She wishes to give advice on how you can get the best personal loan interest rates with the right steps.

Basics of Personal Finance IQ

Basics of Personal Finance IQ

Just the phrase “Financial IQ” scare some people into fits of rage throughout the day, and cold sweats at the evening. Although it may seem much easier to face the monster under your mattress, your financial IQ will not be as terrifying as you might anticipate.

Financial IQ basically refers to your knowledge of how your personal finance works. Let’s take a look at the basics of monetary skills and the way to overcome the fear of Financial IQ.

Financial IQ Basics

Financial IQ is no more than the awareness about the flow of money; how it can be earned, how it is spent, and the way it can be invested. Various humans will present you with different answers when you ask them about financial IQ. Many individuals aren’t exactly sure what makes up financial IQ, so we just ramble around till we stumble on some thing semi-intelligent.

In essence, financial IQ means realizing how you make money, the way you deal with money, the way you come up with a spending budget, and utilize any excess eventually.|In the uncomplicated shape, financial IQ is nothing more than the fundamentals of earning the dollars, protecting that which you have made, budgeting, and leveraging the surplus at the end. It’s also about studying your money flow. That is it! With this understanding, I’m certain that you feel confident now and your dread is beginning to go away. What you should see now is how financial IQ revolves around earning, budgeting, and investing properly.

Staring Down Fear

To quote Dale Carnegie; “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”

That is sage advice from one of the most financially intelligent people in history. What Carnegie is stating is you may defeat your dread of mastering finances by going out and doing something about it, in spite of the anxiety you feel.

Scientific studies have shown the human mind retains the most information in one of three approaches; sight, sound, and action. Some of us learn best by reading, others by listening and discussing, and the rest of us learn by getting away from our keister and jumping in to figure it out as we go.

There are many areas to get serious with to better your comprehension of financial IQ; read the business section of the daily news, read the stock reports, listen to financial podcasts and news reports, or start doing a little investing to find out what transpires as soon as you get your feet wet.

The Next Steps

Get engaged. Ask yourself one question – is doing what you are doing educating you anything more about financial IQ? In case it is, then preserve up the study, but in case your answer is no, you might want to reconsider your plan of action.

Look for a friend, or maybe a coach with whom you can speak about your finances. It’s okay to ask questions because it is better to get the facts straight than hide under your bed and proceed to live in the darkness of financial ignorance.

Dale Carnegie was absolutely right. If you really want to overcome your fear of finances, do not sit at home. Get out into the world where finances don’t take a break. Immerse yourself in the world of finances and overcome your fear; it may just end up being your favorite hobby. And it won’t hurt your pocketbook either.

Don’t just buy any kind of lens for your camera. It is important for your financial IQ to invest in a good gadget that can last for a long time! Check out lenses from Panasonic at http://panasoniclenses.com

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Benefits of a Personal Loan

Benefits of a Personal Loan

At least once in our lives, we have all wanted to desperately make a purchase, but haven’t had the liquid cash available at the time. At these times, we do turn to our trusty credit card, but we also have another option – one that we don’t always take into account. This option is taking out a personal loan. We all plan our finances to cover all contingencies of life, but it is still not possible to say when a dire need will arise, when we need finance very urgently for some unforeseen event. This could be a sudden medical emergency or any other event that is over whelming for the best of people. The only option left at times like these is to take out such a loan from a financial institution or a bank.

These loans are an often neglected line of credit. They do not require any collateral to be given. This is one of the main reasons why they can be very useful for the borrower. But it is necessary that the borrower understands what he is signing up for with such a loan. The intricacies of the loan are easier said than done. But once the borrower is clear on the terms, there are a lot of benefits he can reap from such a loan.

One benefit is that the loan is cheaper than credit card debt. The reason for this is that the rate of interest on the loan is negotiable. The borrower’s credit history is what plays the most crucial role here. Anyone with a good credit history can bargain hard on the terms of the loan. The tenure of the loan varies in the slab of the amount borrowed. This is generally from one to five years, with some banks extending this tenure to even seven years, depending on the amount. The rate of interest of a loan is fixed for the entire tenure of the loan. Once the agreement for the loan is signed, even if the rate of interest is changed in the market, the rate for the borrower does not fluctuate. The fixed interest rate is very helpful for borrowers as this allows them to plan their repayments well. The loan then becomes like a fixed equated monthly installment loan for the borrower. This makes it easier for the borrower to budget the repayment in the expenses for every month and allows the borrower to be clear on the repayments.

While taking out such a loan used to be a big taboo in the past, they are actually more profitable than having credit cards. The smart borrower realizes this and substitutes his credit card debt with a loan.

Nimisha is fond of writing articles on banking, telegraphic transfer for remittance, insurance, loan against shares, loan against property, personal loan as per individual’s personal banking needs.