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Often financial institution gives competitive rates to attract customers for loans, which can be a business loan, home loan, education loan, or a vehicle loan. When you receive such offers you should first analyze and know the EMI amount and the methods to calculate it. EMI is calculated by two processes – Fixed interest rate …
Buying your own home is a dream for most of us. For that one has to avail of a home loan, which becomes one of the biggest financial commitments and needs proper financial planning. Proper financial planning makes it essential to organize your finances so that the loan EMIs is paid on time without default …
A certain sum of amount which the borrower deposits initially, to either the bank or a non-banking finance company from whom they are trying to obtain a home loan is called as the Margin money. Lenders treat the contribution of The margin money for a home loan from a borrower is accepted as a sign …
Balance transfer of a credit card is when you move the outstanding debt on one credit card to another card, usually a new one.This is normally used when one wants to move the amount owed to a new credit card which provides lower interest rate, fewer penalties, and superior benefits, than the current used card. …
The default risk on a financial obligation which arises when a borrower fails to make the required payments is called Credit Risk. It is the possibility of a loss to repay a loan or meet the contractual obligations. A lender may not receive the owed principal and interest, which results in an interruption of cash …
What is a contract? Contracts and agreements are important for any size of business. Earlier, there were few written business contracts, and often the business and personal deals were done verbally with a handshake. In case of any dispute, the two parties could take the issue to court, even if the contract was not put …
What is Earnest Money Earnest money is a deposit made to a seller, as a buyer’s affirmation in good faith to buy a home. This is done for the buyer to get extra time to get financing and conduct the title search, property appraisal and inspections before closing. Usually, earnest money is handed down when …
Once the Personal loans has been availed, it cannot be transferred to another person. These loans are determined based on your unique credit score and your sources of income. Some personal loans such as signature loans, require your signature and use your promise to pay as collateral. Check your Instant Personal Loan Eligibility When you …