Category: Finance

Gender inequality has been a concerning point in India. While most urban Indian cities have exhibited a progressive outlook with women going all out for chasing and realizing their aspirations and dreams, few regions are still chained up in an old-school approach where women are not permitted to work out or earn a living. Over the last few years, the Indian government has launched several women empowerment initiatives to ameliorate this condition in our country. 

Breaking through the stereotypical women’s image and to endow more power, lenders offer a variant of personal loans for women at concessional rates to meet their financial goals as well as aspiration at distinct life stages. A personal loan for marriage is even a kind of loan that women can opt for. 

What’s a personal loan for women?

A personal loan for women is a kind of unsecured loan provided exclusively to women at a lower rate of interest with flexible repayment loan tenure. Such a loan can be taken up by working women working in the government or private sector and those who are self-employed business owners. A personal loan for women is designed in such a way that women can avail of it with ease and repay it as per their repayment capacity. From funds to aid their enterprise to money to pursue a program, funds from a personal loan can be utilized for anything. 

Personal loan interest rate is formed keeping in mind the budget requirements of women, so higher EMIs do not end up burdening their financial stability. A personal loan for women may be applied for online with great ease with minimal documentation. Once the application for a loan is examined and approved, funds are processed and disbursed to your bank account in only 15 minutes. 

What are the uses of opting for a personal loan for women?

Personal loans for women come in handy for various scenarios like arranging funding to travel, for healthcare exigencies, home expansion and renovation, higher studies, financing business capital and others. The beauty of availing personal loans for women is that there is zero restriction on the end usage of loan proceeds. 

Besides the above, working women may even avail of personal loans for women to begin their business journey, for paying salaries to employees, stock up inventory, and many more things for their business. Besides the reasons mentioned above, personal loans for women may be taken up for personal reasons besides gambling, speculation, and illegal activities. 

Additional Read: Personal Loan for Women

What are the benefits and features of opting for a personal loan for women?

Instant loan for women is pre-approved in nature and are designed to assist women in meeting any financial needs, whether business or personal related. Here are a few of the benefits and features of personal loans for women that you must be aware of – 

∙  Zero restriction on the end usage – You can take up a personal loan for as high as Rs 25 lakh to fund any personal or work-linked needs without any restriction on the end usage of loan proceeds. This makes it one of the versatile choices for working women. 

∙  Instant approval and disbursal – Once the personal loan application form is submitted along with the required documents, you will be provided with an initial deal or offer amount. Upon accepting this, you require verifying a few of the details, and once this is done, the funds will be disbursed instantly to your savings bank account. 

∙  Flexible repayment tenure – You can select the loan tenure according to your convenience, keeping in mind your budget, expenditures, income, and other important parameters. You can select from a tenure of between 12 months and 5 years using an online personal loan EMI calculator. With an online personal loan EMI calculator, you can decide your repayment tenure better as this calculates the final EMI and overall interest constituent instantly. So, you can check different tenures on the calculator to determine the prudent tenure that matches your cash inflow and affordability. 

∙  Zero collateral or security required – There are zero requirements to pledge any asset or security to get a personal loan. This loan is totally unsecured in nature, which does not require you to provide any collateral or security. However, note that as you do not require to provide any collateral or security in this loan, the interest rate offered on such loans may be slightly higher than the secured loan options. Lenders of personal loans offer a slightly higher interest rate to compensate for the credit risk involved in lending you. 

∙  Least documentation – Whether you are witnessing any financial exigency or in requirement of additional funds for personal requirements, you can simply apply for the loan by visiting the lender’s site by providing all the basic documents and required details. All such documents will be verified online by the lender without the requirement for anything to be uploaded. 

What are the eligibility criteria for a personal loan?

To check whether you qualify for a personal loan, read on, and evaluate yourself – 

∙  You must be aged between 21 and 60 years.

∙  You require being a residing Indian citizen. 

∙  Your minimum income (monthly) must be not less than Rs 20,000

∙  For a salaried person – at least a year of working experience is a must, with a minimum of six months in the present job. 

What’s the interest rate charged on a personal loan for women?

Personal loan interest rate for women is based on various parameters like borrower’s income, credit history, credit score, loan applied amount, and others. Based on such factors, the personal loan interest rate may range anywhere between 10 percent and 24 percent per annum. 

How can you apply for a personal loan for women?

If you are witnessing emergent financial requirements or have been looking out for a big-ticket investment or purchase, then you can consider applying for a personal loan to simply meet such requirements with ease. If you meet all the personal loan eligibility parameters mentioned above, you may qualify for personal loan approval.

In case you are in urgent need of a personal loan, then you may consider checking for pre-approved personal loans. To check for a pre-approved personal loan, you must approach your banks with whom you already share an existing banking relationship to ask if they have provided you with any such offer based on your credit profile. If you find such an offer, then you can opt for this loan. Disbursal of the loan proceeds of pre-approved loans is usually on the same day of placing the personal loan application day.

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Motorbikes have become the most widely used mode of personal transportation in India. Due to rising car prices, bikes are a significantly more cost-effective option for commuters. Additionally, they can quickly navigate through traffic. This enables riders to get where they’re going much faster than a four-wheeler. It aids in time and financial savings. Consumers prefer Honda Motocorp for bikes. This company’s stylish, budget-friendly, top-rated technology attracts everyone.

A financing option is available with easy EMIs. You can check out and compare several models’ prices, EMI, and features. For instance, you may want to check the Honda Activa EMI price. You can effortlessly do this with an online EMI calculator.

A financial tool called a two-wheeler loan enables you to borrow money from a lender for a two-wheeler. In most cases, 80% of the bike’s cost is financed through a loan. The remaining 20% must be given as a down payment to the bike dealer. These loans are popular because they have relatively low-interest rates and simple, flexible payback schedules.

Two-wheeler loans are a great option for those who want a motorbike but cannot afford one immediately. You need to be aware of many crucial details if you intend to purchase a bike on EMI.

Loan amount- The total amount of the loan you are requesting also affects the interest rate. Your loan amount depends on how expensive your bike is. You will require a larger loan if you are choosing an expensive vehicle. This leads to a higher interest rate because the financial institution is taking a bigger risk by giving you a larger sum. A bigger loan increases the likelihood that you would default. So, the interest rate gets high.

Eligibility criteria- The eligibility requirements change depending on the lender. Therefore, you should review the conditions on their website before requesting a loan. Make sure you meet every requirement. That will simplify the lending process for you.

Credit score- One of the most crucial considerations is your credit score when applying for a loan. It’s a number that credit rating organizations give you after taking into account a variety of factors. These factors include how many loans you’ve taken out, how much you borrowed, whether you made on-time payments, etc. Any score over 700 is considered an excellent score on a scale of 900. This score will determine the bike loan interest rates, and a high rating will result in a cheap interest rate.

Documents- Your lender will request supporting documentation to confirm the information you supplied. You must provide documentation of your identity and residence. You will also be required to give them all of your income-related documentation. Your pay stubs, tax returns, and bank statements will all be part of that. It will save you plenty of time if you have all your documentation ready in advance. As a result, you won’t have to wait weeks for your loan to be approved.

Interest rates- Do not choose the first lender you encounter. Do research. Compare the rates that various lenders are offering. The interest rates are offered from 9.5% to 17%. You can find the most affordable rates by comparing them. Your loan will thus become more reasonable.

Loan tenure- The cost of your bike loan EMI depends on the length of your loan. The interest rate will be lower if your monthly EMI payment is big because there is less chance that you will default. Your interest rate will be substantially higher if you have long tenure and a low EMI rate. This is a standard rule in the lending business.

Additional charges- Well, you have to pay more than just interest. Your lender will also charge processing costs. The lender will determine the costs. Processing costs can reach 3% of the overall loan amount. Be sure to choose a lender with the lowest processing costs. You’ll have less financial stress as a result.

Seasonal offers- Keep an eye out for seasonal deals and discounts on your lender’s website and social media profiles. During holidays, lending institutions frequently provide interest rate discounts. You will get to take advantage of these offers if you keep track of them.

Bike EMI calculator- You can determine your two-wheeler EMI amount with a bike EMI calculator. You can manage your finances effectively if you know your EMI amount.

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If you’re in the market for a payment processing solution, you might wonder what chargeback protection is. Chargebacks cost merchants 0.5 to 1% of their revenue, and related costs can add up to 10 percent. A recent Javelin Strategy and Research report put the cost of chargebacks at $31 billion. Luckily, merchants can use several techniques, technologies, and processes to protect themselves. Read on to learn more about chargeback protection.

Chargeback Protection

A variety of chargeback protection methods are available for e-commerce businesses. Choosing the right chargeback protection tool depends on the business’s needs. Some merchant chargeback protection methods are more effective than others, depending on the number of chargebacks you get per transaction and their causes. You can avoid or minimize chargebacks by analyzing your chargeback data and deploying targeted tools. However, before implementing chargeback protection, review your company’s charges and identify potential areas for improvement.

Many merchants opt for chargeback insurance as the first line of defense. However, this type of coverage may overlap with other policies or only work with specific gateways and processors. Additionally, chargeback insurance is not a viable solution to the underlying causes of disputes. Merchants need to resolve conflicts at the source to mitigate chargeback risk. For this, the chargeback management strategy must remain agile enough to keep pace with changing trends and technology.

Chargeback Insurance

Chargeback insurance is an essential component of credit card merchant liability insurance. It covers the liability of a merchant when a customer’s credit card account is charged back after fraud has been detected. It also protects the merchant from the penalty of a service bank if the customer does not make the payment as expected. 

One of the first things to consider when looking for chargeback insurance like when you are looking for a chargeback company is the amount of coverage you need. While some providers may not cover chargebacks resulting from friendly fraud, others will. The best way to deal with chargebacks is through prevention and recovery. It is essential to research the reasons behind chargebacks to avoid them altogether. You can fight fraudulent chargebacks by knowing your customer’s behavior and why they make chargebacks.

Chargeback Warranties

A chargeback warranty is unnecessary for small sellers and merchants who do not regularly experience chargebacks. Such contracts are only necessary when a seller or merchant experiences a spike in fraudulent orders. A chargeback warranty may be unnecessary for big merchants who are used to dealing with points in fraudulent charges. They may already have systems in place that prevent chargebacks. A chargeback warranty can also help companies that have a risk-averse culture.

A chargeback warranty can help protect your company against the loss of sales if a customer disputes a charge. This insurance policy covers your losses incurred through multiple gateways and processors and generally covers any related fee. Chargeback warranties are also available for merchants who use third-party payment gateways, such as PayPal. They can help prevent the loss of business from chargebacks and minimize their costs by thwarting them. The best way to reduce the chance of chargebacks is to avoid them proactively.

Shopify Chargeback Protection

A chargeback occurs when a credit card company attempts to recoup funds based on a suspicious transaction. One of the leading causes of chargebacks is fraudulent orders, which may result from stolen credit card numbers, fake identities, or other scams. Therefore, the merchant should carefully scrutinize high-risk orders to determine whether they are legitimate. If necessary, the merchant can also cancel the order and seek additional information from the customer.

A Shopify chargeback protection service is similar to chargeback insurance and covers inevitable chargebacks. This service does not protect the ratio, however. All chargebacks impact the chargeback-to-transaction balance, which protects revenue but does not shield the shop from chargebacks. Shopify’s chargeback protection service is designed for stores that use Shop Pay. It unlocks the best checkout experience on the internet. To find out if it’s right for you, visit their website.

Square Chargeback Protection

If you’re a small business, you’ve likely experienced the stress of chargebacks. These disputes can tie up funds and interrupt your cash flow. Square has lamented the lengthy, slow process of chargebacks, which involves a great deal of paperwork and time. With a Square chargeback protection plan, it has stepped in to help merchants mitigate the risk of chargebacks. Here are some of the benefits of Square chargeback protection:

The chargeback protection program is free. In exchange for $250 a month in chargeback costs, you can use Square’s chargeback protection plan. Chargebacks are relatively rare, but payment card fraud can cost merchants millions. This chargeback protection plan ensures you’ll never be left with such a huge loss. However, Square doesn’t cover all your chargeback costs. For example, it doesn’t cover disputes for every transaction, but it’s an excellent option for businesses that sell high-risk goods.

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There’s no running away from inflation being all over the place. Thus, making it hard for everyone to save money in the long run. However, with careful financial planning, it’s easier to have a secure future. After all, everyone wants to have a good quality of life and rest assured about a promising tomorrow. 

But how do you do it? And what for? Well, if you still have reservations about saving for the future, we’ve got you covered with compelling reasons to give it a go:

Prepare For a Medical Calamity

Life is unexpected, and every day unfolds a different story. You never know what hunts you tomorrow. But one thing is for sure, as you grow old, you might get sick. Today, millions of people suffer from cancer, arthritis, and whatnot. 

So you need to have enough money in your savings account to take care of a medical emergency in the future. For example, if you wish to consider assisted living in the future, having enough savings will help you consider these services. 

Invest in a Business

If you’re working for a firm, you’ll know how hard it is to sift through daily tasks. So if you wish to have a business of your own, you need enough savings. We recommend you secure your money in a savings account, so you’re not tempted to save every day. 

Now is the time to start saving, so you can start your venture. Having your own business is a means to self-improvement and acquiring the freedom that you’ve always wanted. 

Invest in Real Estate

Real estate is one of the fastest-growing sectors globally. After all, the rural to urban migration has compelled demand for vertical expansion in cities. You can earn rental income over the years after investing in a top-notch property. 

If you check out rural homes for sale online, you’ll be surprised to see the amazing payment plants that are easy to avail of. Or, if you invest in a mall, the rental income from shops will help improve your net worth instantly.

Get Married

If you don’t have plans to get married anytime soon, you should still be prepared for a hush-hush situation. Marriage is always unexpected, and you never know when you want to say yes to the person you love. 

And when you plan to get married, you’ll have to gather everyone who matters to you the most. So when there are many people around, spending on food and décor will become crucial. So start saving right now to have the wedding of your dreams in the future. 

Prepare For The Worse

When COVID 19 debuted globally, nobody was prepared for the worse. The global lockdown forced companies to shut down, people to lose their jobs, and businesses to crumble suddenly. During this time, people with enough savings managed to stand the test of time. 

Although the pandemic has been controlled, we still don’t know what will happen tomorrow. So it’s best to start saving and always be prepared for the worst. 

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It’s no secret that starting your own food truck can be an exciting experience. You get to be your own boss, and you also have the opportunity to share your delicious creations with the world!

Despite the many benefits, starting a food truck isn’t always easy – it takes a lot of hard work and dedication. One of the more challenging aspects of the process is securing food truck financing.

What is Food Truck Financing?

Food truck financing is securing money to start or grow your food truck business. There are various ways to secure funding, and each method has its own set of pros and cons.

The most typical food truck funding types include:

Merchant Cash Advance:

This is a loan where you agree to repay the lender with a fixed percentage of your future credit card sales. It’s a quick and easy process, but interest rates can be fairly high.

Equipment Financing:

This type of loan is specifically for purchasing equipment, such as a truck or cooking appliances. An equipment financing loan usually has a lower interest rate than a merchant cash advance, but it can be more challenging to qualify.

Business Line of Credit:

This is a loan that’s available to small businesses. It allows you to borrow money as needed, and you only pay interest on the amount you borrow. There are secured or unsecured loans. A secured loan is backed by collateral, such as your home or business assets. An unsecured loan doesn’t have collateral, and interest rates are usually higher.

Working Capital Loan:

This is a loan specifically for businesses that need to cover their day-to-day expenses, such as payroll, inventory, or marketing. The interest rates on working capital loans are typically lower than other business loans, but the approval process can be more difficult.

How to Secure Food Truck Financing

There are a few key things you can do to increase your chances of securing financing for your food truck. Here are a few good places to start:

Create a Business Plan:

One of the most important things you can do is create a detailed business plan. Your business plan should include information on your target market, your marketing strategy, financial projections, and overall business goals.

Lenders will want to see that you have a rational plan for how you plan to make your business successful. Having a well-crafted business plan will show that you’re serious about your venture and knowledgeable about your market.

Build Your Credit History:

One of the most important things lenders look at is your credit history. If you have a good credit score, you’re considered a responsible borrower who’s more likely to repay their loan.

If you don’t have a lot of credit history, there are a few things you can do to build it up. You can get a secured credit card, which is a credit card that’s backed by a deposit. Another option would be to seek out funding solutions that don’t have credit score requirements. You can find a number of these options through online lenders.

Network with Lenders:

Another way to increase your chances of securing financing is to network with lenders. Meeting with a lender allows you to ask questions and get advice on which loan is best for your business.

The Bottom Line

The critical thing to remember is that there are various financing options available, and each option has its own set of pros and cons. The best way to secure financing is to create a detailed business plan, build your credit history, and network with lenders. With a little hard work and dedication, you can make your food truck dreams a reality.

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Are you feeling stressed when it comes to managing your finances? Do you feel like there’s never enough time to keep track of everything? If you answered yes to either of these questions, you’re not alone. Many people feel this way about their finances. But even if you don’t think you have the time to handle your financial troubles, there are ways to do so.

Plan Your Bills First

The first thing you should do is plan your bills ahead of time. Writing down all your bills will allow you to keep track of how much you owe and ensure that you don’t miss any payments. It’s also a good idea to write down how much you spend each month. Once you have this information, you should be in a better position to know where your money is going. It should then be easier to plan your budget and make sure you aren’t spending money on unnecessary things.

Make Sure You Have an Emergency Fund

Another important thing is making sure you have an emergency fund. An emergency fund is a savings account that you can fall back on when things aren’t going well in your life. This account can cover issues like having an unexpected bill come up or an unexpected car repair. It’s always better to be safe than sorry.

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Find a Good Lender

You need to find a lender that you trust and is going to give you the best rate possible. As you search, you should make sure that the lenders you look at are approved by trusted sources and companies. This way, you should have an easier time finding lenders that are in good financial standing and are easy to work with. Finance providers such as Priority Plus Financial can help you find the right loans for your specific situation.

Set Up Regular Financial Check-Ups

Last but not least, it’s always good to set up financial check-ups at least twice a year. In doing this, you will be able to make sure everything is on track. A financial professional can point out any problems with your finances and then help you fix them before they escalate.

As you can see, there are several things you can do to stay on top of your finances. Money is a major source of stress for many people, but by following the right steps, you can keep everything in order.

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Do you find yourself living from paycheck to paycheck? If your bills eat up your income every month, an unexpectedly high expense such as medical costs or a car repair could spell disaster. Having an emergency fund will ensure you have the money you need should a crisis arise.

Think about cutting back on some unnecessary expenses and setting that money aside in an account you never touch except for a genuine disaster so you’re not tempted to take out another loan. While loans are crucial for larger items and can be obtained by reaching out to MaxLend and other lending institutions, it’s wiser to have an emergency fund for the small disasters that are inevitable in life. Here’s how to build one.

1. You’re Self Employed

Owning your own business is a great way to build wealth, but it also means you don’t have a steady paycheck especially when you’re starting out. During those crucial early years, the income you receive from that business tends to be either feast or famine, and it’s wise to set aside money for those months when your revenues are lean.

2. You Have Poor Health

If you live with a chronic disease such as diabetes, you’re likely to face unexpected medical bills and hospitalizations. Even if you have health insurance, you’ll have an annual deductible you have to pay. You’ll also have time off from work that might not be covered by sick leave. Having a well-supplied emergency fund will help you face such events with confidence.

3. You Rely on One Income

If you are married with children and you rely on one income each month, it’s wise to have some money in reserve in case you’re laid off. If you lose your job, it may be a couple of months before you can find a new position. Having savings will help you buy food and pay your monthly rent or mortgage. It’s a way to make sure your family life remains stable in a time of crisis.

4. You’re Trying To Get Debt Free

Becoming debt-free is a great way to have financial stability and the flexibility to pursue another career or even retire should you choose. If an emergency arises, however, and you don’t have any money in reserve, you’ll be forced to take on another debt. With a multitude of bills comes increased interest payments, meaning you’ll be further from your dream of financial freedom. Protect yourself by setting aside money in an emergency fund.

5. You’re a Homeowner

Being a homeowner is a great step toward financial freedom. Once that house is paid off, you have a place where you can live mortgage free for the rest of your life. But with that asset comes responsibility.

When the toilet backs up or the washing machine stops working, it will be up to you to hire a repairman to get these things fixed. Having some money stashed away in an emergency fund will help you face those issues with confidence.

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