Personal Loan

Applying for a Personal Loan? Be Sure to Check Your Eligibility

There are numerous reasons why an individual might feel the need to apply for a personal loan. One of the best parts of availing a personal loan is that you can use the proceeds of the loan in any way that you see fit. The funds that you receive can be used to renovate your home, or to pay for your child’s education, or even for a car repair.

One of the terms that are commonly used with personal loans is the rate of interest. When it comes to the rate of interest, it is important that you avail the lowest possible rates as the Equated Monthly Installments (EMIs) that you’ll pay will be included as a huge part of your monthly expense. If you avail a personal loan with low-interest rates, it will help you save a lot. But availing a loan isn’t as easy as it is said; there are a lot of factors considered by the banks before they approve your loan application.

There are a lot of things that can affect your personal loan application approval. Here is how you can check personal loan eligibility.

  1. Credit Score:

One of the most important things on your application is your credit score. That is the first thing that is checked by the bank when you apply for a loan. Your credit score is important to the financial institutions and lenders because it helps them decide your creditworthiness and repayment capability.

The Credit Information Bureau of India Limited (CIBIL) keeps a track of your credit history.  All the financial institutions and lenders acquire your credit history from CIBIL. Your credit score is affected by a lot of factors. If you have defaulted on repayment of your previous debt then your credit score will be affected negatively, whereas, if you have paid all your dues on time them your credit score will be affected positively.

The CIBIL score ranges from 300 to 900 and financial institutions and banks are more inclined to approve your loan if you have a good score, i.e. above 750.

  1. Age Factor:

Age is another factor that is taken into consideration when approving your personal loan. If you are nearing your retirement, not a lot of financial institutions or lender will be forthcoming to give you a personal loan. This is because since you will retire soon, your only source of income will be your pension unless you decide to become a consultant. Your pension will be comparatively lesser as compared to what your monthly salary was.

Taking a personal loan 10-15 years before your retirement is a wise option since you will be able to repay all the debt by the time you retire. Your personal loan will be approved faster if you hold a stable job and have been earning for quite some time now.

  1. The Tenure of the Loan:

The loan tenure also affects your personal loan approval. If you avail a loan for a shorter period of time, your personal loan will be approved much faster and the EMI that you’ll have to pay is high. If you apply for a longer tenure of your personal loan, the EMI that you will have to pay is less.

The process of availing a personal loan has undergone a lot of changes since there is an increase of competition in the market. You can avail a personal loan anywhere between 5 lakhs and 1 crore. Different banks offer a different rate of interest and hence it is necessary that you do a proper research and only then avail a loan that has a low-interest rate.

Hiring Process

What Changes Can Make Your Hiring Process Better

It takes an expert to hire the right person at right time. Hiring may seem easy but is one of the toughest tasks that take place in an organization. Lakhs of rupees are invested every year by your organization into recruitment. And every wrong hire is a loss, every turnover is a loss. For this reason, your hiring process needs to be fool proof. If you have no strategy for your hiring, you will be stuck with wrong people. Most organization have a slow hiring process, while others lack consistency in their selection process. And also with changing time, and such advancements coming in all aspects of working with an organization, HR’s approach needs to change.

These changes and new approaches to recruitment and talent acquisition are essential. Employees need to be searched for differently, differently developed and retainedas now employees have more options to choose as to where they want to work and how. The recruiters need to understand what they want and find the right way to attract and retain them.

A Blog for Careers

Employers have to post about requirements’ for jobs on social media sites. Instead of repeatedly posting on these sites a blog completely devoted for hiring purpose can be created. This will not only make the task easier but will provide a better platform where job seekers would subscribe for latest details on current opening. It will provide a single window for all.

Establish A Set Interview Process

Candidates prepare for their interviews and are well versed with what basic things they need to answer and also with their subject details. So is needed from the interviewees as well. They are also required to prepare so that they can get all the details they need.

Recruiters need to design interviews according to the jobs to engage applicants and judge them on all parameters. Interview tests for Managerial Skills require a different set of questions while interview tests for Programming Skills will require different.

Change in Technology

Digital skills are a need of the era. Most jobs require digital knowledge and it will become tough to find employees who have such knowledge and it would be tougher and costlier to train them. While on the other hand the employees having technical knowledge would require updated and efficient technology to work with. And if the infrastructure that your firm provides is inefficient for the technological advancements, employees would leave and join places they would be provided with updated technologies to work on.

Provide Internal Mobility

Companies don’t need to go out to look for every new position. External hiring being a default option is a wrong notion. Internal hires are more accepting towards challenges. They are ready to be stretched as they know it will help them grow. Recruiters need to access those candidates who are eligible and realize their potential. It reduces both costs and also boosts employee morale. It also gives a competitive advantage.

 Have Clear Definition of Talent

In today’s modern market the most misused word is talent which gets wrongly understood as someone highly potential or skilled. But it is just used to represent the right fit for a job. Talent is just those set of skills required for a particular job. These skills can be judged through tests or interviews like interview tests for Programming Skills can test whether a person has the talent to work as a software developer.

Make your requirements clear, give people a platform to show what they can do, recruit for what you need in future and not what could not be done in past.

applying for a Home Loan

Benefits for Women applying for a Home Loan

Around a decade ago, it was unusual for women to take a decision pertaining to finance. Most of the women even the working ones were heavily reliant on men when it came to financial investments such as insurance, investment and taxation. The only form of investment in which women actively used to take part was buying gold. However, the investment landscape has changed in recent years. Back to back initiatives taken by the ruling governments to encourage women to invest in financial sectors has paid off.

More women are inclined towards investing and making the decision independently. The situation has changed considerably, and women nowadays are open to taking risks and investing in not just financial market but real estate market as well. To encourage it even further, financial institutions are offering exclusive benefits to women to enhance their involvement. Among the benefits that are being offered to women, here are several outlining ones:

Rate of Interest:

When applying for a Home Loan, the rate of interest is considered to be one of the most pivotal factors. The interest rate differs from lender to lender, and almost every lender is providing benefits to borrowers who are women. Most of the financial institutions provide a discount of 0.05% interest to benefit women Home Loan borrower. The percentage might look pretty small, however, when it is compared to the bigger picture, it plays a significant role. The cost of the property is quite high, and even a number such as 0.05% makes a massive difference. Due of the lower interest rate, the EMI will be less and so will the financial burden when it comes to monthly repayment.

Concessions:

Every transaction related to property requires an investor to pay Stamp Duty charges to the State Government. It is one of the money components which differ from state to state. The amount that has to be paid is decided by the State Government. Government initiatives that help and encourage women investors include charging lower stamp duty rate when she opts to buy property as a sole borrower. The rate of interest that is charged by the government is 1-2% lower than the usual Stamp Duty rate. Apart from that, even if co-borrowing is opted for, discounts can still be availed.

Smooth Loan:

The loan process is same for both male and female applicants. It is a fixed process which involves the applicant to check eligibility and clear it. Once that is done, then he/she can avail a Home Loan. To ensure that this process passes smoothly, the borrower has to submit all the essential documents and identity proofs. Apart from this, a satisfactory credit score is essential. One thing which is noteworthy is that the ratio of women applications getting rejected is way less than men. It is mainly because women are more successful in repaying the Home Loans as compared to male counterparts.

Digitization:

The process of digitisation of financial services has made borrowing a Home Loan quite comfortable. The online service helps women to apply for a Home Loan as per their convenience. Thus, the process is no longer physically daunting.

Tax Benefits:

A woman, Home Loan applicant, can avail tax deduction of INR 2 lakhs. As per the Budget 2017, a woman borrower can claim a tax deduction on interest earned. Apart from that, if a Home Loan is co-borrowed between the married couple, then both of them can enjoy tax benefits on Home Loan. Opting for co-borrowing is a wise choice as it helps to share the burden of debt.

These are few of the factors that a woman Home Loan buyer shall consider to make the most out of it.

Features to Look For When Buying Top Rated Drones For Beginners

Notwithstanding size and general plan, there are many elements that you may be keen on when looking for top rated drones for beginners. These tips will help you get the best ones according to your need. These are clarified underneath:

Wireless Availability: The most recent drones come furnished with remote network choices including Wi-Fi and Bluetooth for associating with gadgets like cell phones, tablets, and portable workstations. This element gives you much control over the information you gather as you can without much of a stretch exchange it to your PC for control.

GPS: If a drone accompanies GPS or Global Positioning System, it can come back to its home place if lost. It additionally enables the client to track their machine and sustain a course that the drone must take after. This is again an intense element that enormously enhances the execution of an unmanned flying vehicle.

Camera: An inherent camera is one of the elements that most drone clients are searching for in top drones with cameras. When you encounter the energy of an aeronautical camera, you won’t have any desire to backpedal to a plain old drone that offers only flight.

Video Gushing: More propelled clients additionally need live video spilling to see where their drone goes. You can stream video to a PC or cell phone contingent upon your necessities.

Power: More capable machines can give you additional battery life for longer flights and high propeller speed. These elements prove to be useful when you need to fly drones all the time and would prefer not to trade off on its speed or sit around idly always charging the battery.

Thus, you see there are various sorts of good drones for beginners accessible out there depending on their size and general usefulness as well as on the components they accompany. You may like a drone looking at its delightful plan yet it may not satisfy every one of your prerequisites or might surpass your financial plan. It’s essential to get your work done before burning through cash on such an effective machine.

Drones are unquestionably cool with regards to boundless fun and stimulation. They can give you hours of happiness and numerous valuable results too on the off chance that you choose to take photographs, record recordings or perform ongoing information investigation with the assistance of these little yet intense flying machines. In any case, do consider the previously mentioned indicates when you choose to get yourself a drone with the goal that you can spend your cash carefully and furthermore evade issues later on.

Are You Searching For A Drone Pilot?

Basically, make an occupation and look as the best pilots in the nation offer for your work. What’s more, installments are held bonded, so pilots get paid on time, and you don’t release installment until you’re 100% fulfilled!

There is no employment too enormous or complex. There are pilots online who can meet all requirements for EVERY flying need.

Profiting With Drone Videos

Recordings made with the assistance of a drone can be phenomenal contrasted with the typical ground level film. Before you begin profiting with a drone, you initially need to buy a machine that suits your prerequisites and enables you to make astounding videos. For this, you should remember to pick from top drones with cameras. What’s more, you likewise require great video editing software to edit your recordings and present something to individuals that they would appreciate.

Avail Professional Bookkeeping Services for Further Development

Do you know what is constant in this world? Yes, it is money! Money is the most important constant factor which works like an intangible remote control and drives all of us crazy. We all are giving our very best to earn as much as money for us as well as for our beloved families. But what will happen if the money you are earning is not growing in proper figures. That means your business or individual financial accounting system is not good. Here comes the need of professional Bookkeeping Services Melbourne.

How do these bookkeeping firms operate?

The main motto of these companies is to increase your business in terms of cash flow. Cash flow is must for your business growth. With their solid accounting knowledge, your total revenues are increased. All these are possible due to minimisation in accounting errors. They try to maintain cash as well credit transaction in proper formats. These firms try to go to roots of the problem and troubleshoot it. These companies also help you out to reduce your debt with their debt management services. Actually to have an overall bookkeeping up gradation in your business there should be changes in your company’s legislative policies.

Bookkeeping Services Melbourne

With efficient bookkeeping services you can grow your business to a big enterprise. When you are choosing one of the multiple firms which are functioning in the market always look for the service provider who has expertise in company’s taxation laws.  Another factor also to be taken into consideration is that whether the firm is providing services both offsite and onsite? In offset service scheme you have to just visit the respective office and consult them with your every necessary accountancy details.

Bookkeeping Services Melbourne makes every step to make this visit important and trouble free for you. In onsite services your selected firm comes to your place and gives the necessary services. You have to be confirmed that your bookkeeper is a registered BAS agent. These consulting firms should abide by all the rules which are fixed by Tax Practitioners Board and ensure always that all of the services are ATO complied.

Advantages of hiring these firms

  • A good firm always helps you identify any pitfalls between your official records and banking statements. Thus you can easily feel the difference if any malpractice is done.
  • They also help you out with information regarding your present financial status of the firm.
  • Another important aspect that falls under their prejudicing is building an efficient credit management software system so that there are records of every single customer, their full credential before granting credit loan to them. Forecasting is another important aspect which you will get if you take the services of professional Bookkeeping Services Melbourne. In running the business you should have proper inventory. A good bookkeeping service provider helps you out to order for immediate inventories when your stock goes down. Thus, there will be unhindered services from your side in whatever businesses you are operating.

Conclusion

If you are looking for good and professional Bookkeeping Services Melbourne then you can contact professional bookkeepers of your area. They can be the most affordable firm to rely on. You can have a look at their websites and contact them for further progression.