CIBIL Score and Car Loan

Jan 18 2024 Published by admin under Uncategorized

Credit Information Bureau (India) Limited (CIBIL) is a credit company keeping all the records of credit-related activities of individuals as companies, including credit card and loans. This so-called CIBIL score plays a major role in determining one’s eligibility to avail a car loan. This series lies in the range of 300-900, a good score is 750+, and a poor is 650 below, a good score increases the chance of eligibility to avail a loan, and a poor score hinders it.

CIBIL report:

A consolidated report containing the customers’ credit history, bank statements, loan information, personal information, employment information values and validates the consumer’s loan eligibility at great length.

Factors affecting CIBIL score:

The cibil score is generated by a complex algorithm that looks over the following criteria

Credit history: Credit history makes up 35% amounting to the individual’s timely payment of loans and debts. It has the complete knowledge of your Equated Monthly Installments, thereby making it necessary for one to pay on time.

Credit Mix: This shows a credit mix of secured and unsecured loans and is good if either or both types of loans are availed as they might increase your future possibilities.

Public Records: Apart from the personal information the report also looks over the public record of the customer if they have a criminal record or have bankrupted.

Credit Inquiries: Whenever a lender looks over the individual’s credit report the inquiry number keeps adding. So the more the number of credit inquiries, the more the number of loans taken. The potential lender may sign in green or red depending on the timely payments and the loan types.

Credit utilization: This amounts to 30% of the credit report which refers to the credit per cent you have used and the remaining percent you can use. The higher the percent, the higher the risk of borrowing. Good credit utilization should be below 50%.

New credit: Every time you take a loan the new credit adds up, meaning taking multiple loans at a time isn’t very good and hinders future chances of taking a loan.

CIBIL score and car loan:

CIBIL scores determine the individual’s loan eligibility widely. A car loan is no different from that, the more the credit score, the higher the eligibility.

Loan Approval: The loan approval for an applicant depends heavily on the credit score, you have a high score, your process is faster and hassle-free. If not getting to sanction your car loan is much harder and in some cases not possible.

Tenure: Sometimes the applicants want the longest time of period to pay their principal and interest and the tenure time is affected by the credit score at great length. If your score is less or poor the chances of getting the tenure you want is low.

Rate of Interest: The interest rate is a part of the total amount calculated in percentage that the loanee needs to pay every month for the loan amount. The credit score affects this, for a lofty CIBIL score the interest rate is less (scores like 800), whereas though few banks might approve for loans there is a giant chance that the bank increases your interest rate for each month, thereby making you pay more than what is necessary.

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How do I choose best mutual funds to invest for SIP?

Jan 18 2024 Published by admin under Uncategorized

Traditionally, Indians have preferred investments that offer a fixed return and safety of their capital. However, mutual funds have emerged as one of the popular investment avenues due to the potential capital appreciation over the long term that has the potential to exceed the returns from fixed income instruments. The Indian Mutual Fund industry has recorded Rs 31.42 lakh crore AUM, 9.79 crore folios, and 3.73 crore active SIP accounts as per AMFI data released on Mar 31, 2021. Investing in fixed deposits may not significantly grow investor’s income over the long term. For those looking to build wealth over the long term with market risk can consider investing in equity mutual funds.

Before setting out to choose the best mutual fund to invest in, Investors need to firstly determine their financial goals and their investment horizon and most importantly their risk-bearing capacity. Age, income, financial commitments all add up to your risk capacity. Based on these parameters, investors can then go on to shortlisting the best mutual funds to invest that meet their requirements.

Instead of focusing on the last one-year top performers, investors need to go a bit deeper to select the best mutual funds to invest in 2021. Last year’s best mutual funds may not continue their performance this year or the future. A good yardstick to measure the best mutual fund to invest is to evaluate their performance across market cycles. Assess the mutual fund performance across 1 year, 3 years and 5 year periods. Other criteria to assess a mutual fund performance can be:

What is the mutual fund expense ratio?
What is the portfolio churn rate?
What is the portfolio composition and their underlying concentration levels?
Qualitative Factors can include:

Investment processes and systems
Fund manager experience
Funds managed by the fund manager
As regards starting out an SIP investment. There is no one best mutual fund to invest which is suited for SIP mutual fund. An SIP can be started with any ticket size and does not burn a hole in one’s pocket. Anyone can start with as low as Rs. 500 per month. There are different types and varieties of mutual funds to choose from.

All mutual funds have the option of investing by lumpsum or by SIP mode. However, if you are ready to take market risk and looking for long term risk adjusted returns then one of the best mutual fund for SIP investment could be equity mutual fund which is a volatile asset class. SIPs average out the cost of investments over the long term. Equity mutual fund is generally considered as the best mutual fund to invest in for the long term. However, in case of returns, an SIP does not guarantee a better performance over lumpsum. This is because returns in equity mutual funds may not be linear. In short, if investors do not have a duration of 5-7 years, then they should not consider equity mutual funds.

Similarly, there is no one best mutual fund to invest in for lumpsum investment. However, lumpsum investments are by far suitable for investors who want to time the market.

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PMAY Subsidy: How to Claim PMAY Home Loan Subsidy?

Jan 18 2024 Published by admin under Uncategorized

The Pradhan Mantri Awas Yojana (PMAY) has delivered a series of benefits for first-time homebuyers. A subsidy on your home loan interest is one of the highest benefits that PMAY extends to you. Claiming the PMAY subsidy on your home loan may be a simple foundation of your eligibility, just in case you apply for the Pradhan Mantri Awas Yojana as per your income and buy a home that fulfills the carpet area norms began through the scheme.

Eligibility Criteria for Pradhan Mantri Awas Yojana:
You must apply as an unmarried individual or a relative of a relative with your parents, spouse, and unmarried children to urge PMAY benefits and subsidies. aside from these fundamental eligibility requirements, you’ll also get to meet a couple of income requirements and other PMAY eligibility components to urge home loan subsidies.

The following are the eligibility requirements for the housing loan subsidy program:

You are not allowed to possess any pucca houses within the country.
The annual household income cannot exceed 18 lakh rupees.
You must not have previously received any aid through a government housing initiative.
A female family member’s name must get on the deed or property paper. Co-ownership with a female member is additionally permitted.
The system applies to all or any towns as of Census 2011, also as people who are notified since then.
Within 36 months after receiving the loan amount, the building, extension, or renovation of the property that a house loan has been obtained must be completed.
Already built houses don’t come under the coverage of the scheme.
What is the utmost PMAY Subsidy that you simply can Claim?
Under the Pradhan Mantri Awas Yojana, you’ll get a subsidy of up to Rs.2.67 lakh on your home loan. the quantity of subsidy you’re eligible for is decided by your income group and therefore the total carpet area of the house you buy. Here’s what you ought to remember.

If you fall under the EWS or LIG categories, you’ll get a 6.5 percent credit-linked subsidy on a home loan up to Rs.6 lakh. If you apply under the EWS category, the carpet area of the property you purchase should be 30 square meters, and if you apply under the LIG category, it should be 60 square meters.
A credit-linked subsidy of 4% on a home loan of up to Rs.9 lakh is out there under the MIG I category. If the house you purchase features a carpet area of 160 square meters, you’ll apply for this discount.
A credit-linked subsidy of three on a home loan of up to Rs.12 lakh is out there under the MIG II category. If the house you purchase features a carpet area of 200 square meters, you’ll apply for this discount.
The process to say PMAY Interest Subsidy Benefit
The following steps can assist you to acquire a home loan subsidy under the PMAY scheme:

Check your income threshold: If you’re thinking of applying for a PMAY subsidy on your house loan, you ought to first see if you meet the scheme’s income requirements (EWS, MIG, or LIG). The carpet area for your residential home against which you’d be eligible for the PMAY scheme is going to be determined by your income criterion. you’ll use an online housing loan EMI calculator to work out what proportion you’ll save on your house loan.
Fill out the PMAY application online: The PMAY application is often completed both online and offline. While offline application filing may be a time-consuming process, you’ll apply for pmay online by following the procedures outlined below.
Visit the PMAY website at for further information.
Select the category that you would like to use for the scheme under the ‘Citizen Assessment’ page.
To link your Aadhar Card to your application, fill out the shape below (This is mandatory)
You’ll be taken to the appliance form, where you’ll need to fill in your other personal information.
To save your PMAY application for future use, click on the ‘Save’ button.
What are the advantages of the CLSS Scheme?
The following are the benefits of the housing loan subsidy program:

The subsidized rate of interest on your home loans up to a specified level.
The subsidized amount is deposited directly into your account under the plan. As a result, both your outstanding principal and your EMI are decreased.
You can extend the term of your loan up to twenty years.
The amount of the loan has no upper limit. If the sum exceeds the indicated limits, interest is going to be charged at the lender’s normal rate.
You may be eligible for tax benefits as a result of the government’s home loan subsidy, as indicated within the tax Act of 1961.
Things to stay in mind about PMAY CLSS
Only residential loans are eligible for the PMAY CLSS subsidy.
The highest loan amount which will be wont to take advantage of this program is INR.6 lakhs.
A maximum subsidy of INR.2.67 lakhs is out there to the applicant.
To be eligible for this plan, the applicant must not own or be the owner of a “pucca” dwelling in his or her name or the name of a loved one.
If the applicant or any member of his family has previously taken advantage of an identical housing program offered by the Central or State governments, he or she is going to be ineligible for the PMAY-CLSS program.
It is critical to possess a female owner. If the applicant may be a man, he must enlist the assistance of a female loved one (wife, daughter, or mother) to become a co-owner of the property.

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Small Business Consulting Services – Is it Money Well Spent by Small Businesses?

Jul 06 2023 Published by admin under Uncategorized

A wise man knows that if you fail to plan, you plan to fail. All Massachusetts leading small business consultants can provide many services including strategic assessment, strategic planning, marketing and promotional planning, loan and grant proposals, customized training solutions all wrapped up in a comprehensive business plan solution or individually, based on a specific need.

All the services mentioned above require planning in some form. Many times, businesses don’t have the staff nor ability to perform these services for themselves because they are usually bogged down with the day-to-day operational side of the business. So that is where and why consulting services can help.

Again, you may be considering help in the areas listed above or you may be seeking an unbiased professional opinion on specific issues. You may need help preparing a complete business plan, pro-forma financial documents or a marketing plan. Whatever your needs, small business consulting services encompass many answers to the problems facing small businesses.

Consulting services are utilized by every business size imaginable. Both large and small accounting and consulting firms are always employed by companies as big as Microsoft. Any size business has needs that can not be met internally because businesses sometimes look at themselves subjectively rather than objectively or lack the experience and expertise in an area that could improve a component of their business which could translate to growth and higher profits.

But wait, if you’re short on resources whether it be financial or human resources and you need small business consulting services it’s important to find one of the Massachusetts leading small business consultants that offers a strong track record of success and a firm which will listen to your needs carefully.

You need to remember that careful planning and consulting is extremely valuable to any profitable venture…as the Visa commercials profess…it’s priceless!

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Mary Kay Beauty Consultant – What You Need to Know

Jul 06 2023 Published by admin under Uncategorized

Mary Kay is marketing in several lines like skin care, color makeup, body care and various others. The company has also provided business opportunities to people and has expanded its business. These products are available everywhere in the world and are sold by independent consultants. These consultants buy the products at wholesale, starter packages or individually. These packages also include bonus items and might be purchased on credit or on cash. The new distributors are encouraged in this way to start their business.

One can sell these products in several ways too. One to one or in a party or any way that is feasible to the distributor. The company also ships its products directly through website and email.

For buying a product, one needs to familiarize themselves with the ranges and varieties they offer. A Mary Kay consultant can surely help you in this regard. A visit to Mary Kay website can also be helpful. There are several past successful stories of consultants that can give a good idea of the product.

To become a Mary Kay beauty consultant, one can learn about the opportunities for a sales director and find out the requirements. Before finalizing the deal the fine print of agreement should be thoroughly considered to reduce any misconceptions. After verifying the contract, one may plan for the sale of this product, the way that is most feasible them. All the consultants also earn a 50% profit off the products that they sell independently so it’s quite a good business for them.

To become a Mary Kay independent Consultant: Request the agreement from your consultant. After signing, the person will be required to give initially $100 for the investment to obtain the supplies. The literature and sample products will be sent by mail. This might assist in planning the sale. One might also ask any questions and take advantage of the training provided. Again special discounts and offers will be open for consultants.

Understand that the training will provide you with the skills to have Mary Kay parties and how to do facials. You will be asked to make a list of family and friends and then hit them up to have a party or buy the products. The drawback to this is people are very busy these days and really don’t want to take time out to have a party or even a facial. You may find at first you can get some response but it will not be long before you will hear a lot of excuses as to why they can not take the time out of their busy schedule.

So bottom line here is that even though Mary Kay has good products and is a very reputable company it may become difficult to market the products. The problem is hitting up people that could care less about what you have can make result in a real challenge trying to grow your business. On the other hand if you learn to utilize the power of the internet and get yourself positioned as a leader and an expert in the cosmetic or skin care industry you can have literally thousands of people reaching out to you that already have a want, need or desire for your products or even your business. Be aware that trying to host parties will soon become ineffective and your Mary Kay business could end up actually costing you money.

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Hiring an Online Marketing Consultant Makes Sense – Strategic Online Marketing Can Explode Business

Jul 06 2023 Published by admin under Uncategorized

Most Business Owners Have These Dilemmas

Stuck in a rut with traditional and often outdated marketing and advertising methods and are unsure on what direction they must take to transition their marketing onto the internet.
Understands that the time for internet marketing in now if they are to continue growing. Giving it a go on their own has left them lost, not producing results and watching their advertising budget disappear with little or nor return. They want professional assistance on how to approach it or how to implement strategic business marketing online.
Have learned by now that there online advertising and marketing is working well but they are ready to take it to the next level. They are committed to an online marketing strategy and looking for professional help to manage and grow their business revenue online.
The internet is the future. You will eventually change or get left behind. That’s not simply my opinion. 82%* off all customers looking to do business locally will search you and your business out on the internet.

So How Can An Online Marketing Consultant Help Your Business?

That seems to be the burning question considering that experienced online marketing consultants can charge upward to 1000 dollars a day for their services depending on how complex and spread out your business is. Small Businesses looking for local traffic more often than not will get quality service and expert advice for much less.

An experienced online marketing consultant will provide a conclusive Marketing Diagnostic of your business, allowing you to better understand what actions and processes are needed to increase revenue and profits.

Strategic marketing plans come down to looking at what your company offers in relation to when and how the market wants it presented. In order to set the foundation of a strategic business marketing plan in place, you need a marketing diagnostic.

It summarizes what your company’s marketing is trying to accomplish and the methods of doing so, but not the specific actions to get there. The online consultant has given you direction, and now it is up to you to put a tactical plan in place.

So no matter how big or how small of a company you own, we all understand that with out proper marketing and advertising our businesses will not retain the customers we need to say in business. You are spending money each and every month promoting your business. Wouldn’t it be nice to spend that money more wisely by understanding the overall scope of things?

The Point is this…

Before you grab the internet marketing bull by the horns and start spending money all over the map attempting to find something that works, hire an online consultant to point you in the right direction. This one time investment will save you valuable time and money.

Get a Marketing Diagnostic to learn where your business stands and learn how you can improve your marketing by harnessing the power of the internet.
Take your new found knowledge and build a strategic marking plan that lays out in detail how to implement these avenues of online marketing.
Judge the complexity of the job at hand and decide whether to go it alone or hire a professional consultant to manage your businesses marketing.
Most cases prove that online marketing consultation is likely a better investment than going at it alone in the jungles of the internet super highway. With out a decisive plan of attach and some sound advice, you will more than likely fall prey and run the risk of putting your company in jeopardy.

Get started with online marketing as soon as possible and gain ground on your competitors. Get a marketing diagnostic review today and you will be well on your way to capturing the potential and power of the internet for increasing business revenue.

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A Franchise Consultant Can Help You Find the Right Opportunity

Jul 06 2023 Published by admin under Uncategorized

If you have been thinking about starting your own business, you’ve probably considered the possibility of opening a franchise. Becoming the owner of a franchise is not for everyone, but for the right person with drive, determination and the ability to follow a proven business model, a franchise business is the perfect opportunity for success.

Finding a franchise business that is right for you, however, can be a frustrating task. If you have ever researched viable franchise opportunities in your area, you know that there are many. Narrowing down the businesses that fit your personality can be a long and arduous task. The most important thing to remember when searching for a franchise business that is right for you is that you will be spending a tremendous amount of time and energy working on getting the business running. It is critical that you have a natural interest in whatever goods or services the franchises sells.

An advantage to starting a franchise, though, is the franchisor provides a great deal of startup training and materials for promotion and marketing. If you were starting your own individual business, you would have to come up with these business models and startup costs yourself. Following a proven business plan and marketing strategy will allow your new franchise business to thrive much sooner than if you were creating a new company completely on your own.

Hiring a franchise consultant can significantly contribute to your goals by helping you focus your effort on finding a franchise business that is right for you. Franchise consultants that will spend long hours researching companies on behalf of their clients, and will make an effort to steer them toward the franchise business that appears to be the best fit. Certain franchise companies seem to always thrive, and the franchise consultant will let you know if you could be successful with a popular chain in your market region.

There are facts, figures and statistics that a franchise consultant will study in order to determine whether the franchise business can be successfully run in a certain area. It is important for you to work with the consultant to explore all potential business options to find the right fit for your personality and your financial goals. Starting a franchise business requires a serious investment of money and time, and a utilizing the services of a professional franchise consultant will help ensure that you don’t waste that investment.

The information a potential franchise owner can gain by using a franchise consultant is invaluable. It will give them negotiating power and a strong foothold on the market when the business finally opens its doors. Franchise consultants can be your most valuable asset when searching for the right business opportunity.

Mr. Abernathy is a marketing agent of Frannet. The franchise consultants offer assistance to new owners experiencing the franchise owning process for the first time. From fees, licensing, taxes, and more – your franchise consultant is there to help you reach your goals and dreams of being a business owner. For more information on Start a Business please visit their website.

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Top Reasons to Hire a Marketing Consultant For Your Small Business

Jul 06 2023 Published by admin under Uncategorized

If you have worked hard to grow your small business but noticed that sales have hit a plateau, it is time to consider hiring a marketing consultant. You may not think that a stranger could do the marketing job you can but there is a reason why your growth has only gone so far. A professional consultant that specialises in small business, especially your niche, can help you break through that plateau and garner new clients.

Why You Need to Hire Outside Marketing Help

With a small business, you probably have a small staff and they may not have the in-depth, intimate knowledge of the goods and services you offer. They will have the broad general knowledge but they likely cannot help you put together a detailed and effective marketing plan. By hiring an outside marketing consultant, you are not only getting that upward push in business but also their personal knowledge too. Once your marketing project is finished, you will have learned some valuable tips to maintain your momentum in sales.

Another reason to hire a consultant for your small business promotional needs is that all of your in-house labour resources are most certainly tapped out and you cannot afford to hire another employee. The beauty of a consultant is that they are there to help you with your project and once it is done, they are gone. You do not have to pay health insurance and payroll taxes as you would with an employee.

Fresh Perspective

Building your business from the ground up, you can be too close to offer a fresh perspective for your marketing efforts. However, hiring a consultant who is not personally vested in your small business can help you see the things you have missed. They can also bring new ideas to the table, things you may not ever think of because of your intimate knowledge.

You cannot devote the time you need in developing and improving your core products and services if you are busy trying to promote your company. You can have a revolutionary product but without knowing how to properly market it, it is dead in the water. You may not want to spend the money on an outside professional, but without a consultant’s expertise, your small business could be robbed of the growth and success it deserves.

Focus on what you do best and hire a marketing consultant to help you bring your products and services to the right clientele. You may have great marketing ideas but no clue on how to implement them. By hiring an outside consultant for your small business marketing needs, you will boost sales.

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Management Consultant – Understanding the Role and Responsibilities of a Consultant For Management

Jun 14 2023 Published by admin under Uncategorized

If you want to start a career in management consulting, it would work to your advantage if you know your roles and your responsibilities. Read on and find out!

- Conducting analysis and research.
- Data collection.
- Conducting interviews with clients, their employees, and their management team.
- Facilitating workshops and assisting focus groups.
- Organizing business presentation and business proposals.
- Managing a highly motivated, results focused team.
- Consolidation of metrics needed for planning and business reviews.
- Identifying and isolating pressing issues.
- Formulating and implementing solutions or recommendations.
- Assisting clients in putting plans into action.
- Managing programmers and existing projects.

Keep in mind that management consultants are mainly involved in providing objective expertise, advice, and specialist skills with the aim of improving business performance and maximizing its growth.

As a consultant, you are expected to operate across a wide variety of services which include marketing, financial and management controls, business strategy, e-business and operations, information technology, and supply-chain management.

As a management consultant, your day to day activities are often varied and complex as consultancy is project-based and essentially entrepreneurial in nature. Your projects can last from 2 weeks to one year depending on the needs and demands of your clients. For some projects, organizations may choose to hire just you or a group of management consultants. You may also be asked to work on your client’s site or offer your expertise using other mediums like internet, email, and phone. So, it is important that you know how to use these technologies to easily fill the unique needs of each of your clients.

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Using a Consultant to Help Find an International Courier at the Right Price

Jun 13 2023 Published by admin under Uncategorized

Global Business requires International Couriers to help ship goods and documents around the world, from one corporation to another. Quite often these shipments are time sensitive and have tight deadlines so that contracts can be won or orders delivered.

It is for these reasons that businesses need access to an International Courier service that they can rely on. Although many don’t realise it, most businesses could save a lot on their International Courier shipments through the services of a consultant.

Courier Consultants scour the market to find out the best deals for customers, whilst also evaluating the quality of service through independent feedback. Through years of research they build up a database of courier companies, their prices and the quality of their feedback and after finding out a little bit about the requirements of the client can match them to the right courier.

The aim of the Courier Consultant is to

(a) Ensure that you are getting the best quality service in terms of delivery.
(b) Ensure you are getting the best possible value for money.

Many Courier consultants work on a no win no fee basis as they earn their living through commission from the courier companies. This means that you can use a courier consultant on a no risk basis – because if you don’t go along with their suggestion it doesn’t cost you a penny!

International Couriers do not necessarily have to be based in your country of origin as they are travelling the world all of the time anyway. A good courier consultant will research couriers globally, and not just those local to them. This means that you really do get the best possible information when it comes to helping to choose the right courier.

Courier Consultants understand how critical logistics can be to a business – the important thing to remember is that they are completely independent and on your side. It is in their best interests to recommend a good company to them as their reputation depends on it.

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