All businesses, whether multinational corporations or small businesses operating from their house basement, need funds to grow. Usually, friends or family cannot cover the huge amount of money that businesses need, so your best option is to apply for business loans. Banks and NBFCs offer business loans to companies, depending on their financial records, size, year of operation, and profits. Business loans provide several benefits like collateral-free sanctions and faster money disbursals so that you can take the next steps in your venture without worrying about your capital. Why Timing Matters ..read more

A loan against property is a kind of secured loan, where a borrower pledges their existing property to obtain a loan from a lender. It is an ideal loan option for individuals with mediocre credit scores who want to avail of lower interest rates. The sanctioned loan amount is typically 40% to 70% of the property’s market value. The repayment period could be stretched to almost 15 to 20 years, within which the loan applicants must repay the amount in monthly settlements. If the borrower is unable to repay the loan amount, lenders have the right to seize the property for good. A loan against a pr ..read more

Debt can be a significant stressor and depreciate your quality of life. Unpaid debts also limit one’s financial goals. While one may be aware of the negative implications of racking up debts, in today’s consumerist society, it may be hard to avoid showing off. Unnecessary purchases are the biggest cause of debt. Read on to know more about why you should avoid debt and what are the best strategies to get your financial health in order. Whether you have missed quite a few monthly payments or are just looking to take measures, the following read will provide you with the tools and information to ..read more

Historically, women have been barred from pursuing their passion because it was believed that their one true calling should be to cook and clean. Long gone are those days, however, due to its trickle-down effects and the lack of adequate resources, women in some parts of the world are struggling to give wings to their dreams. Jacinda Ardern, Serena Williams, Indra Nooyi, Priyanka Chopra, and Leena Nair are some brilliant women who have left a mark in this world with their expertise in their fields. However, the journey from a ‘naari’ to an ‘entrepre-naari’ requires a robust funding plan.  ..read more

When applying for online business loans, one of the most important documents that you have to submit to the lenders is an ITR. ITRs help lenders determine the profitability of the business and assess if the business owners can pay back the loan amount. Additionally, since ITRs provide a more comprehensive understanding of the business’s financial risks,  they help lenders better align the loan terms and conditions with the business’s repayment capacity.  ITRs are especially important for start-ups and small businesses that have not been active for a long time. Since they do not have ..read more

If you need money and own some property, then you can get a loan against property i.e. by mortgaging it with a bank. Banks typically lend anywhere between 40-60 percent of the property’s market value. Here, you have two choices – you can take the entire loan amount as a lump sum and repay in equated monthly installments (EMIs), or as an overdraft account. An overdraft is a facility that allows you to withdraw more money than what you have in your bank account, subject to certain limits. In the case of loan against property (LAP), a large amount is sanctioned against a pledged collateral, namel ..read more

Refinancing a loan means availing of a new loan to pay off the existing loan amount. The new loan may have a different tenure or interest rate. Loan refinancing is an attempt to negotiate better terms from your lender. Your previous loan is transferred to the new lender and you continue paying off the loan amount to the new lender. While a loan refinancing process is super simple requiring you to only process a request to the new lender, knowing when to refinance a loan is crucial. Loan refinancing may come with additional costs like processing charges and closing fees. You must carefully weig ..read more

Did you ever imagine that technology would advance so much that you would be able to make card payments without swiping or punching them? Contactless credit cards are revolutionizing India’s payment system. You can make payments without entering any PIN. You just have to tap or swipe it at a close range in front of a contactless credit card terminal or POS machine to authenticate transactions. Contactless usage of credit cards is convenient and secure. Contactless cards meaning Contactless credit cards are built with magnetic tape, a technology-embedded chip, and a Wi-Fi symbol. It allows you ..read more

A personal loan is a sum of money that one borrows from a lending firm to fund their expenses, adjust their debts, or make investments. One can use a personal loan for a variety of purposes. A personal loan EMI calculator is an automatic online tool to determine your Equated Monthly Installment (EMI). EMI refers to the total portion of the loan amount (principal and interest) that you have to repay every month. Your EMI amount depends on the loan tenure, how much money you have borrowed, interest rates, and your creditworthiness.  How to use an EMI calculator? To use a personal loan EMI c ..read more

Popularized by finance expert Dave Ramsey, the debt snowball method is one of the effective ways to eliminate all debt and manage your finances better. This solution can be used to erase all types of credit, except mortgages. It is about starting small and building momentum, which is something we abide by at ApnaPaisa. Initially, you focus on paying off your smallest debt first while making payments toward your other debts. Once you have cleared these dues, you repay the next smallest balance. This is how you build or ‘snowball’. Although, in the process, you may not be able to save money on i ..read more