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Know better about Installment Loans in India

Thanks to the Internet evolution, now every business is listed online. So, you can even apply for a loan online right from the comfort of your home. Not only applying, but you can also pay back your loan faster, online. Just to make it clear any home loan, student loan, personal loan, instant loan, business loan or a car loan can be taken as installment loans.

With this article, I will guide you through everything that you need to know more about installment loans.

What are installment loans and how do they work?

During a financial crisis, when you borrow money and payback in installments, over some time, then that loan is referred to as an installment loan. They are paid back in the form of EMIs (equated monthly installments).

What are the pros and cons of an installment loan?

Pros:

Anticipate your budget – With an installment loan, you can prioritize your budget. So, you know exactly how much you need to repay each month.
Fixed interest rates – Most of the installment loans available in the market are offered with fixed interest rates. So, if your card spells a good credit score, then the chances are high for you to save a fortune over the long run, as you will be provided with a low-interest rate loan.
Cons:

Lack of flexibility – You cannot increase the loan amount once you receive your funds in the account.
Predatory practices – Few lenders provide instant access to funds even when you have a low credit score. Their main intention is to tag your loan with high-interest rates. Beware of such practices and always research on your lender before finalizing.

How to qualify for an installment loan?

Most of the personal installment loans available are unsecured, hence you need not submit any valuables as collateral. While applying for an installment loan online, always verify your eligibility criteria with your lender. Some of the general requirements of a lender are:

Your age should be equal to 21 or more
You should be an Indian citizen
Should be a salaried employee
If you can match this eligibility, then you are sure to proceed to the next step of verification. If approved, that itself means that you are qualified for a loan.

Conclusion

There are many lenders like banks, credit unions, NBFCs (non-banking finance companies) or other lending institutions which provides you with an installment loan. But Loan Granted, a loan offering product from the NBFC called Vivifi India Finance Private Limited, provides custom-fit personal installment loans that suit your every requirement. The process is instant, simple and requires minimal documentation.

The best advantage of applying with Loan Granted is you are instantly approved with your loan, on the same day you have applied. So why wait? Apply for a Loan Granted installment loan now!

Personal loan or business loan – Which one should you take?

Personal loans and business loans are two different products which are meant for different purposes. However, many times people avail personal loans to meet their immediate business needs. In that context, it is important to understand if that’s a right thing to do or not. And if yes, what all circumstances make it right to opt for a personal loan instead of a business loan. However, let’s first learn a bit about these two lending products.

Business loan

A business loan can be of multiple types, ranging from merchant cash advance, equipment finance, line of credit, short term loan to more. This loan is meant for a certain purpose, which in most cases is to improve business operations, meet certain business expenses or to scale up. The terms and conditions associated with the business loan, amount offered and the tenure is fixed depending upon the exact purpose of loan and borrower’s profile. Although the interest rate is competitive, the lender asks for some collateral as security.

Personal loan

As is evident from its name, this type of loan is meant for individuals who wish to meet certain immediate personal finance needs. It could be for anything like funding a vacation, laptop purchase, renovating home, medical expenses etc. The lender is not bothered about the purpose you use the loan amount for. The tenure is comparatively shorter and the interest rates are also marginally lower than business loans. In general, there is no collateral required as security for personal loans, which is a major reason behind their popularity.

When should you take a personal loan for business?

Your decision of taking a personal loan for your business needs will depend on many things, and hence must be taken carefully. While most enterprises take business loans to meet their finance requirements, you can also opt for a personal loan in the following circumstances:

Small requirement – If the amount of money you need for your immediate business needs is not huge, you can opt for a personal loan. The application process and disbursal is mostly hassle-free and you don’t require the same kind of extensive documents that are needed for a business loan.

Tenure and repayment – It might make sense to avail a personal loan if you need it only to tide over some temporary business situation. Although there are business loans to handle such situations too, the ease with which you can avail a personal loan makes it an attractive product for everyone. Furthermore, if you’re confident of repaying the borrowed amount within, or ahead of time, it would be better to go for a personal loan only.

Collateral – One of the biggest advantages of taking a personal loan is that you don’t need to submit any collateral. Business loans on the other hand are usually secured in nature. Hence, if you can’t furnish a collateral, personal loan might be the product of choice for you.

Processing time – Please note, it takes time for a business loan to get approved and the money to show up in your account. Additionally, many documents are required for processing of a business loan, such as business plan, account books and more. It usually takes some time to get all the documents in order and to finally get a business loan sanctioned. If you require money urgently and can’t afford to wait that long, you should avail a personal loan instead, which can be sanctioned and disbursed within couple of days. It all depends on how urgently you need the money.

If you have pondered over all these points and are sure that you need a personal loan for your immediate business needs, visit GoSahi.com today and compare the best offers from top-rated lending establishments in India.

Basics Of Forex Trading – Be Acquainted With It Before Starting

Moreover, you can plan to get into this market without investing much capital. It works like this – for instance, when for a trip you need to exchange your US dollars for Euros, you are participating in the global foreign exchange market.

The forex market is ever-changing, as the demand keeps changing very frequently. The demand for any currency may move up or down as compared to the other currencies. However, if you are planning to start trading in the forex market, consider knowing some basics beforehand. This is where you need the help of forex brokers like FP Markets.

Forex brokers will help you evaluate the entire process effectively, and they will guide you through the process. They will make the buying and selling of currencies a lot easier, and you can have them trading on your behalf.

Currency Pairs

Before trading in the forex market, it is important to know about Currency Pairs. These are crucial parameters in the forex market and have a greater significance. Let us first know what they are.

Ï The trading of forex markets is always in pairs. For example, if you want to exchange Euros with US dollars, then there are two currencies involved in the transaction. Hence, the value calculated of a currency is always based on the value of the comparable currency.

Ï Symbols are used by the forex market to denote specific currency pairs. The euro is EUR, and the US dollar is USD. Therefore the dollar pair is denoted with EUR/USD. One more very common traded pair is of the Australian Dollar (AUD) and British pound (GBP).

Ï There is a market price linked along with each forex pair. The price denotes how much of the second currency it will take when a person needs to buy one unit of the former currency. For example, if the value of one EUR/USD pair is 1.36565, it means that to buy 1 EUR dollar, it will cost you 1.36565 US dollars.

The above-explained concepts will help you get a rough idea of what is happening in the forex market. You will no more be confused about what is happening. When you look at the prices for the first time, it is difficult to understand which price is rising or falling on the chart. You can learn more about forex trading by observing the prices in real-time. Take help from industry experts such as FP Markets to understand forex better.

You can use a fake trading account known as the paper trading account to understand the forex trading better. There is no financial risk involved in trying trading through this fake account. There are several such applications that you can install on your mobile that work the same as live apps. However, you don’t have your capital at risk.

Pharmaceutical Consultancy – An Asset for Beating Change

Heraclitus could easily have been involved in the modern pharmaceutical industry and pharmaceutical consultancy. He was the ancient Greek, remember, who contended that everything is in flux, that everything is involved in a process of change. He was also the guy Plato (through his mouthpiece Socrates) spent his career arguing against. In the world of pharmaceutical manufacturing, it looks as though Heraclitus may have won the day in many ways.

Heraclitus’ famous saying-”You can’t step into the same river twice”-may be equally applicable to this industry, where regulatory, economic, technological, and global change seems to be about the only constant. All this rapid-fire change is sometimes more than pharmaceutical companies can successfully and profitably manage on their own. So one of vital jobs now of those involved in pharmaceutical consultancy is helping organizations meet, adapt to, and successfully manage that change.

Just consider some to the latest developments in R&D, for example. People in pharmaceutical R&D have been accustomed to using a conceptual tool called the “innovation funnel” to describe and think about the process for determining commercially viable compounds. The image is that of a funnel, wide at the top and narrow at the bottom, with a lot going in and a narrow stream coming out in a linear, predictable fashion. A broad selection of potential drugs and research possibilities are poured into the wide mouth of the R&D innovation funnel. Then, over time, through trial and testing, the few likely marketable candidates dribble from the lower end of the funnel. And, traditionally, efforts to shorten the “funnel time” have consisted chiefly in pouring more into the funnel or simply attempting to boost productivity and push products through.

But, owing to new industry developments and technological changes, the image of the innovation funnel is rapidly losing its usefulness. With the emergence of new technology and, especially, the flood of new data, the innovation funnel is becoming what some have termed the “innovation bathtub.” Basically, things are changing so rapidly that old models and old ways of thinking are becoming moribund at best and counter-productive at worst. The good news is that pharmaceutical consultancy can provide vital assistance in this area, especially in the information arena.

The general consensus among qualified pharmaceutical consultants is that several key steps must be taken:

Gather more data earlier. This means that the strongest, fastest, and least resource-draining screening processes must be placed as far upstream (as high in the funnel) as possible.
Implement procedures for managing important data throughout all points in the process, the funnel. Integration of the entire process is the goal here in order to manage information flow and consequent decision making, both upstream and downstream in the R&D process.
Commit to spending more on and deploying more vital IT resources. It has been estimated that companies in the pharmaceutical industry spend only about 5% of sales revenue on IT, which is far less than the amount spent by companies in other sectors that also rely heavily on information. The practical result is that most of the held information is then basically unstructured and far from being easy to search – the very reverse of what’s needed right now.
Step three is, of course, the most important because it certainly affects, and probably encompasses, the first two. If pharmaceutical companies ignore it, they likely won’t be able to manage the modern shifting river of change.

Pharmaceutical consultancy may be the answer to the Heraclitean challenges the industry faces today.