• our email id
  • +91-9310655500
  • Home
  • About
  • Services
    • Businees Loan
    • Car Loan
    • Credit Card
    • Home Loan
    • Insurance
    • Loan Against Property
    • Mutual Funds
    • Personal Loan
  • Tools
    • EMI Calculator
  • Contact
  • Blog
  • Become A Business Associate

03 Nov

Tamil Nadu Government fixed interest rates secured loans and unsecured loans

  • Finheal
  • secured loans,unsecured loans
  • Tags: simple interest, Tamil Nadu, Tamil Nadu Money Lenders Act, The Government of Tamil Nadu
  • no comments

The Tamil Nadu Government has fixed maximum simple interest

The city police will conduct special grievance redressal meetings for victims of usury harassment on Thursday and Friday at the office of Commissioner of Police.

In a statement, the Commissioner of Police, Mahesh Kumar Aggarwal said that the Tamil Nadu Prohibition of Charging Exorbitant Interest Act 2003 prohibited charging of interest at a rate more than fixed by the government under the Tamil Nadu Money Lenders Act. The Government of Tamil Nadu has fixed maximum simple interest of 9% per annum for secured loans and 12% per annum for unsecured loans.

Tamilnadu state

Source: Google Images

Any money lender using violence, intimidation or causing danger to person or property of debtor is liable to prosecution. Any persons aggrieved by the aforementioned action of money lenders can approach the Commissioner of Police on Thursday and Friday and present their complaints to him. Complainants are requested to bring copy of any loan related documents, if any, available with them. Suitable legal action on all such complaints will be taken in 10 days, the Commissioner said.

Source: thehindu

25 Oct

Eligibility to Qualify for a Personal Loan: Discover Lenders

  • Finheal
  • Personal Finance,Personal Loan
  • Tags: credit score, Discover Lenders, Income Information, Personal Loan Eligibility, Repayment History
  • no comments

Generally, people who apply for a personal loan encounter financial difficulty and do not benefit from the necessary money to fulfill certain obligations or they want to transform into reality old projects like starting a family business. However, in order to proceed with the application, they have to assess their eligibility and put things in order because when it comes to giving a loan, most lenders initiate a detailed research concerning the borrower’s background, personal and additional information. This helps them determine if the person is trustworthy and has the possibility to repay the loan otherwise, they will be taking a loss. Credit rating, employment history and repayment history, current financial situation, collateral and other eligibility considerations matter significantly in front of any lender so if you know that you do not meet one of the requirements you should rethink your application or find and approach other lenders that might accept you as an eligible candidate.

Credit Score
Logically, an excellent credit score will undoubtedly facilitate the process of receiving your much-desired loan and you can also beneficiate from a lower interest rate while poor credit will narrow your options drastically, if not even ruining any chance of getting a personal loan in the first place. If you have a credit score above 800, lenders will practically compete in providing you options meaning that you afford to be selective. A credit score below 700 is acceptable because you can apply for a loan, but you will no longer have the opportunity to choose a lender. With approximately 600 you will have a hard time finding someone who will approve a loan and with 500 you should kiss your loan goodbye or start improving your credit score.

Eligibility to Qualify for a Personal Loan-Finheal

Employment and Repayment History
Employment stability represents the second requirement that lenders impose because they have to make sure that you are a stable employee and that you do not have the habit to change jobs frequently in order to exude reliability. This does not mean that you have to work for the same company years in a row, but to remain in the same field. If you are self-employed then lenders might require further information in order to evaluate your income and reliability. Repayment history refers to the way you handled debts in the past. Lenders are able to see if you have unpaid debts by checking your credit score and this will definitely affect your eligibility. If you want to avoid causing a negative impact, you can erase late payments from your history by writing a letter to your creditors.

Income Information
Apart from establishing if you are a reliable employee, lenders must assess your monthly income in order to decide if you are able to repay the loan. Therefore, they might demand contact details of your employer or employers in the past. If you do not know exactly how much you make and spend each month, then you should start calculating the numbers and see if you afford the rate. The lenders can require additional information or proof concerning your income, such as utility bills or current bank statements.

Source: valuewalk

17 Oct

Amazing mutual fund investments that can make you very rich this Diwali 2017

  • Finheal
  • Investment,Mutual Fund
  • Tags: Aditya Birla Sun Life Frontline Equity Fund, Balanced Fund, Diwali 2017
  • 3 comments

Diwali is a good time to invest in mutual funds, and here is a list of MFs that can generate out-sized gains for you in the next 5 years.

Mutual Funds Investment contact Finheal

Image Credit: forbes

Mutual funds have demonstrated a strong capability of generating wealth. Retail investors these days do not need to rely on hot stocks and tips to see their hard-earned money work harder for them. With mutual funds, investors can double their money in 5 years since it easy to get 15% returns annually by investing in good funds. Diwali is a good time to invest in mutual funds, and here is a list of MFs that can generate out-sized gains for you in the next 5 years.

Balance and beauty
Balanced funds are geared toward investors who are looking for a stable combination of safety, income and modest capital appreciation. Since they have shown a category average of 15% annual returns in the last 5 years, balanced funds can very well double your wealth in the next 5 years as well. “You should take the systematic investment plan route for balanced funds. We prefer Aditya Birla Sun Life 95 Balanced Fund, and DSP BlackRock Balanced Fund for a few reasons. Both these funds have a long track-record of over 15 years. They have beaten various benchmarks and even peers across time-periods, and have managed to double money in a safe way. Don’t forget to add a bit of balanced fund magic when you invest this Diwali,” says Anil Rego, Founder and CEO of Right Horizons.

Name Of The Fund 3-Year Return (%) 5-Year return (%) 10-Year return (%)
Aditya Birla Sun Life 95 Balanced Fund 14.92 17.73 12.42
DSP BlackRock Balanced Fund 14.96 15.82 11.26

Data: Value Research; as on Oct 10.

How to buy Mutual Funds

Image Credit: valueresearchonline

Strength of size
Large-cap funds are known for stability. Investing in top-quality companies with successful businesses, large cash flows and dividend-paying track-record, large-cap funds are an attractive yet simple way to make money. Rego recommends Aditya Birla Sun Life Frontline Equity Fund because it is probably the only fund that has consistently beaten its benchmark for the last 10 calendar years. With an 18% plus annual return record, this fund has silently worked its way to become one of the biggest stock funds in our country. Franklin India Bluechip Fund, one of the oldest funds still in existence, boasts of a low portfolio turnover, solid risk-return profile and the capacity to beat Sensex over the long term.

Name Of The Fund 3-Year Return (%) 5-Year return (%) 10-Year return (%)
Aditya Birla Sun Life Frontline Equity Fund 14.04 18.21 11.9
Franklin India Bluechip Fund 12.06 14.69 9.61

Data: Value Research; as on Oct 10.

Small is beautiful
Small-cap funds are considered more risky than most equity fund categories, but with high risks come bigger rewards. L&T Emerging Businesses Fund has a short track-record, but in 3 years it has managed to return 26% annually such. “This is a good fund to hold for the next 5 years. Investors should also consider buying Reliance Small Cap Fund, a seven-year performer. With above 31% gains annually in the last 5 years, this fund has shown that it’s possible to get five-fold returns in five years! Depending upon your risk profile, allocate funds to this category,” says Rego.

Name Of The Fund 3-Year Return (%) 5-Year return (%) 10-Year return (%)
L&T Emerging Businesses Fund 26.76 n.a. n.a.
Reliance Small Cap Fund 23.2 31.16 n.a.

Data: Value Research; as on Oct 10.

Multicap funds
Multicap funds are market capitalisation agnostic and invest across the breadth of the equity market. This ensures they do not leave out any potential opportunities. Investing across largecap, midcap and smallcap stocks also makes them very diversified. Right Horizons prefers Franklin India Prima Plus Fund and HDFC Equity Fund for their vintage, their respected fund managers and their demonstrated capability of performing across market-cycles. These funds have below-average risk grade but above-average returns for the last 5 years.

Name Of The Fund 3-Year Return (%) 5-Year return (%) 10-Year return (%)
Franklin India Prima Plus Fund 14.62 19.05 11.51
HDFC Equity Fund 10.29 16.33 12

Data: Value Research; as on Oct 10.

Rangoli of lights Diwali 2017

Image Courtesy: wikimedia

Sectoral bets
A bullish view for the next 5 years means that the main sectors of the stock market will perform. You should buy one banking sector fund and one pharma sector fund to reap rich rewards. Banking is a growth sector while pharma is a defensive sector. “Banking and finance are the backbones of the economy. ICICI Prudential Banking and Financial Services Fund has superb track-record of picking stocks ahead of others. In the pharma fund space, the SBI Pharma Fund is a good pick to hold with a 5-year view. Pharma funds have been beaten down of late, and an investment today will ensure superior risk-adjusted returns in the next half a decade,” says Rego.

Name Of The Fund 3-Year Return (%) 5-Year return (%) 10-Year return (%)
ICICI Prudential Banking and Financial Services Fund 24.04 24.6 n.a.
SBI Pharma Fund 5.37 17.35 14.07

Data: Value Research; as on Oct 10.

(These mutual funds have been recommended by Anil Rego, Founder and CEO of Right Horizons. Although due care has been exercised by them while selecting these funds, readers are advised to consult their financial adviser before investing in any of these funds)

Read More: This article is originally published on financialexpress.
Author Credit: Sanjeev Sinha

13 Oct

Home loans, Personal loans may soon be based on market rates

  • Finheal
  • Personal Loan
  • 4 comments
Home loans, Personal loans may soon be based on market rates

Image Courtesy: YouTube

Those who avail of home loans and personal loans could soon be on par with the big corporate when it comes to how banks calculate interest charges on borrowers. Interest rates on loans across the board would soon be bench-marked to external market rates as the banking regulator aims to put an end to opacity of loan pricing by banks.

Click here: Check your personal loan eligibility and apply online.

A Reserve Bank of India committee headed by Dr Janak Raj has suggested that interest rate on loans be pegged to anyone of the three benchmark rates such as T-bill, certificate of deposit rate or the RBI’s repo rate rather than leaving it to the discretion of each bank. It also suggested a ban on banks charging a conversion fee whenever the bank resets the rate of interest.

“Arbitrariness in calculating the base rate and MCLR and spreads charged over them has undermined the integrity of the interest rate setting process,” RBI said in a statement. “The base rate and MCLR regime is also not in sync with global practices on pricing of bank loans.”

Banks and the RBI have been at loggerheads for over a decade with the regulator publicly stating that banks move in terest rate in such a way that it benefits them.

Banks have been quick to raise in terest rates when the RBI raised policy rates, but were slow to cut when RBI did so.

“We think the internal benchmarks like the base rate or the MCLR, based on data, seem to give banks a very high amount of discretion lot of factors that are flexible for them to ensure that lending rates can be kept high even when monetary policy rates are going down an accommodative path,” deputy governor Viral Acharya told reporters.

Data from the RBI shows that, between December 2014 and October 2016, a month before the demonetisation of Rs 500 and Rs 1,000 notes, banks’ Base Rate on an average reduced 0.61 per cent when the policy rate was lowered by 1.75 percentage point.

“Banks were slow to pass on the reduction in their MCLRs in January 2017 to their actual lending rates,” said the report. “Of the 12 banks whose spreads widened, six banks took up to six months to pass on the benefit of lower MCLRs to their lending rates; the remaining six banks passed on the benefit of their lower MCLRs, but only partially even after six months. This is intriguing as changes in MCLRs are expected to be passed on to at least fresh borrowers immediately.”

The report also suggested that interest rates resets which are now set at annual frequency creating potentially a one year lag in transmission that these be changed on floating rate loans to quarterly resets.

This is done to ensure that the transmission will be much faster.As on now, banks have adopted marginal cost of lending rate formula where rates are linked to cost of their funds and are reset in different internals such as one month, six months to one year.

“The Study Group is of the view that the decision on the spread over the external benchmark should be left to the commercial judgment of banks,” the report said. “However, the spread fixed at the time of sanction of loans to all borrowers, including corporate, should remain fixed all through the term of the loan, unless there is a clear credit event necessitating a change in the spread.”

Originally Published in economictimes.indiatimes.com

07 Sep

Apply Online Credit Card with Finheal

  • Finheal
  • Personal Finance
  • no comments

Apply Online Credit Card

A Credit Card is a card issued by the financial company giving the person an option to borrow money or sometimes for sale.

Credit Card Benefits:

  • Convenience: Credit cards can save your time and trouble for searching for an ATM or keeping cash in hand.
  • Record keeping: Credit card statements can assist you to trail your expenses. Some cards even offer year-end summaries that actually help out at tax time.
  • Low-cost loans: You can use rotating credit to put aside today (e.g., at a one-day sale), when obtainable cash is a week away.
  • Instant cash: Cash advances are rapid and suitable, putting cash in your hand when you need it.
  • Perks: From common effort miles to discounts on automobiles, there is a program out there for everyone. Many credit card companies offer incentive programs based on the amount of purchases you make.
  • Build positive credit: Controlled use of a credit card can help you establish credit for the first time or rebuild credit if you’ve had problems in the past as long as you stay within your means and pay your bills on time.
Page 2 of 23 < Previous 1234…23 Next >

Latest Post

  • What is Home Loan Balance Transfer Process? | Finheal.com
  • What is considered a Good Credit Score to Buy a House?
  • Top 5 Reasons to have High Credit Score?
  • What is CIBIL Score?
  • Mutual Fund on Google has reached the highest levels in five years

Categories

Archives

Persnal Loans in Cities

  • Personal Loan in Faridabad
  • Personal Loan Gurgaon
  • Personal Loan in Ghaziabad
  • Personal Loan Noida
  • Personal Loan in Delhi

Home Loans in Cities

  • Home Loan in Faridabad
  • Home Loan Gurgaon
  • Home Loan in Ghaziabad
  • Home Loan Noida
  • Home Loan in Delhi

Business Loans in Cities

  • Business Loan in Faridabad
  • Business Loan Gurgaon
  • Business Loan in Ghaziabad
  • Business Loan Noida
  • Business Loan in Delhi

Car Loans in Cities

  • Car Loan in Faridabad
  • Car Loan Gurgaon
  • Car Loan in Ghaziabad
  • Car Loan Noida
  • Car Loan in Delhi

LAP in Cities

  • Loan Against Property in Faridabad
  • Loan Against Property in Gurgaon
  • Loan Against Property in Ghaziabad
  • Loan Against Property in Noida
  • Loan Against Property in Delhi

Mutual Fund in Cities

  • Mutual Fund in Faridabad
  • Mutual Fund in Gurgaon
  • Mutual Fund in Ghaziabad
  • Mutual Fund in Noida
  • Mutual Fund in Delhi

Credit Card in Cities

  • Credit Card in Faridabad
  • Credit Card in Gurgaon
  • Credit Card in Ghaziabad
  • Credit Card in Noida
  • Credit Card in Delhi
  • Footer Logo
  •   B3, 1st Floor, Rama Park
          Uttam Nagar, Near Dwarka Mor
          Metro Pillar No.764
          New Delhi-110059
  •   +91-9310655500
  • our email id
©2017 Finheal . All rights reserved. | Become Business Associate | Privacy Policy   |   Term & Condition   | Sitemap  | Contact | Career
Scroll