Monthly Archives: March 2015

Tips for Receiving an Approval for Small Business Loans


Securing funds for small business loans have become simpler; you need to follow the right steps and prepare in advance to increase your chances of securing a business loan approval.  Certain companies that are looking out to grow require these loans to increase their working capital, upgrade or hire more employees.

Take a look at the following details in order to avail a business loan:

Provide all your information

This is mandatory and you are required to produce all the specifics and details about how you intend to make use of the funds. You also need to provide them with information regarding how you will accomplish your goals; therefore, you should prepare in advance to answer certain questions that the lender will pose to you.

Share your financial information

You will have to provide your lender with all the financial information and background of your company and your future growth plans that include your personal information. This information will help the bank and the lender to gain an insight into your current financial scenario in order to sanction your business loan. This is mandatory because a lender would be required to know all your past history so that it is easier for him/her to approve your loan.

Try looking out for multiple lenders

This requires a bit of research where you can create a list of potential lenders and discuss with them the possibilities of the loan you wish for. This will help you create more options if any one of them declines your application. Also, their feedback will help you prepare better for future business loan applications.

Look for SBA lenders

Before you take any step regarding a business loan application, you should definitely visit counselors who can assist you with any loan process. They shall also help you with various products available that you may not be aware of. Therefore, with a little assistance, you may be able to secure a loan and build your business further.

Five Step Guide to Secure Your Child’s Future


Today’s children are the architects of tomorrow. Their intelligence holds the key to development of future. The way in which they are nurtured and treated plays an important role in how they will function as adults. Being a parent, you will always aim to provide the best care and upbringing to your child. However, who will take care of him in your absence?

Child’s future is one of the major responsibility of every parent, and it is every parent’s duty to take measures in securing it. There are several investment plans and products available in the market for securing child future. Here are a few points that you should look consider taking a look.

  • Know the requirements

The expenses incurred towards education, healthcare, and other overall growth of child need to be assessed before purchasing an investment plan. Keeping into mind factors such as inflation, rising healthcare costs, education costs, etc. you should take expert help to assess the requirements.

  • Invest a little Extra

Despite all the measures taken to assess the financial requirements for a child insurance plan, several parents still end up investing a little less. This is because most parents do not take into consideration unexpected expenses. To tackle such expenses, a little extra investment is recommended.

  • Begin Early

To get a huge sum of money on maturity, you are recommended to start early by investing in child insurance. When you invest at an early age, you will be able to manage other financial goals in an efficient way.

  • Do Proper Asset Allocation

To implement a sound investment portfolio, it is recommended to take help of an expert. Ask advisors for proper asset allocation strategy to invest better.

  • Teach Your Child to Save at Early Age

Your savings will soon be over if your child turns out to be an extravagant spender. Avoid this situation by teaching your child the importance of savings at an early age.

Things to Check before Finalizing Your Fixed Deposit


Presently, investment experts have been found to advise their clients to lock their finances in company deposits before an interest cut comes into effect. This is because it is predicted that soon the RBI will start slashing interest rates, which would lead to a cut in bank deposit rates. There also is a possibility that this would result in a drop in interest rates in the not-so-distant future.

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Currently, SBI, the government operated banking firm, offers an interest rate of 8.75% on fixed deposits with a 1–3 year maturity. On the other hand, other private financial institutions offer a 9.25% or even a 10–11% interest. However, don’t get swayed just by the interest rates; there are several other factors that you must consider before investing into a company. Here are some of them.

Credit rating

Fixed deposits are gaining popularity by the ranks offered by the various credit rating agencies such as Crisil, India Ratings, and many others. Checking the rating of a financial institution is the first step towards selecting a company’s fixed deposit scheme. These ratings are what determine the highest credit quality and the lowest credit risk for a deposit scheme.

Company quality

Always remember to check the group background and the value of the business you plan on investing in. very importantly, find out the firm’s repayment record, its financials—losses, debts etc. before taking any kind of step forward. A firm with a low credit rating is more likely to offer you higher fixed deposit interest rates compared to others like SBI and other highly rated institutions.

Liquidity

The lock-in period of a company’s deposit is what determines how liquid its products are. This is easiest way you can be sure of getting back your money, along with interest. Majority of deposit schemes have an initial lock-in scheme of about 6 months. In case of a withdrawal after three months but before six months, the deposit holder is paid, not the entire interest rate promised, but about 4%.

Interest payments

Company fixed deposit schemes are the one that can pay interest monthly, quarterly, annually, half-yearly and cumulatively. The term varies from company to company. People who are in need of regular additional income, can opt for a specific plan that offers them periodic interest payments. However, benefits from fixed deposits something that is considerably larger as the interest paid is ploughed back into the deposit account and the deposit holder benefits from compounding.

The Process of Loaning


Investing and saving for your future can turn out to be pinch you and eat into your everyday expenses a bit too much; be it investing in a house, a car or even education. As a young person, it may seem impossible to be eligible to be approved for a loan without having any sort of parental support. This is the exact reason why it is really important to completely understand the financial nuances involved in a loan.

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The Loaning Process

When thinking of opting for a loan, it is important that you assess the situation from the bank’s perspective. It is important that you understand it is eventually a source of revenue for them, and an altruistic gesture to help someone by lending money. In essence, banks are here for business. The only reason for a bank to give you the money is so as to earn interest from you; interest that they would gain on the principle amount lent to you. After all, this is the only way a bank earns its revenues.

Your source

These days it is a real important thing to find out the alternatives to getting a loan from various banks such as SBI, Axis Bank, HDFC etc. Online lending is quickly becoming popular thing among the general population. However, in case of online lenders, frauds and reputability can sometimes also become major concerns. So ensure you conduct a detailed research on your source before finalizing your deal.

While paying back

When it comes down to finalizing which institution to avail the loan from, the terms are what matter. Some factors that vary either be interest rates, the length period of the loan, or even the type. Additionally, it is crucial that you have a respectable and eligible adult co-signer for the loan. This is a mainly a reason why banks look for in order to be completely sure that they would get back their amount at any cost.

Achieve Aggressive Returns with iMaximize Plan


Insurance policies have been designed to reduce the financial impact of unpredictable events. Not only do they offer protection against the financial difficulty faced after any unfortunate event, but also they are looked upon as investment vehicles.

A typical life insurance plan would only offer death benefit for a small premium. However, prospective buyers look for investment benefit along with life protection. Furthermore, they also want versatility and liquidity in investment. Understanding such demands of the prospective investors, AEGON Religare came up with a revolutionary product known as iMaximize Plan.

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What is iMaximize Plan?

This plan is an innovative ULIP policy that offers the versatility of choosing the underlying funds as well as significant amount of life cover. Unlike the existing Unit Linked Insurance Policies in the market, this plan can be purchased online. You can simply register for this plan online, without having to undergo through the cumbersome process of availing a quote, assessing the underlying fund, etc.

What are the Key Benefits of Availing this Plan?

There are several key benefit of availing this plan. Some of the outstanding benefits that will compel you to purchase this policy include:

  • Partial Withdrawal Facility

This plan provides you the unique ability of partially withdrawing the investment corpus after the completion of first five policy years. You can withdraw up to 20% of the total fund value amount each year before the policy matures.

  • Choice of Choosing 3 Funds

To assess the risk appetite of different investors, AEGON offers three distinct funds to choose in this ULIP. The three funds included in this plan are Blue Chip Equity Fund, Secure Fund, and Debt Fund.

  • Top-Up Facility

To improve the returns and seek capital appreciation, this policy offers top-up plans to invest additional amount.

  • Returns Are Tax Free

Very few ULIPs in India offer tax free returns. iMaximize Plan is tax-free under Section 10 (10D) of the Income Tax Act, 1961.