Monthly Archives: December 2016
Education is highly expensive nowadays and costs for higher studies are shooting sky high. It is foresure that with the handful of savings that our parents have will prove insufficient in front of the creeping costs of education. Therefore, they might opt for various ways for quality education like traditional finance, property mortgage etc. But education loan has come as the best helping hand for student to pursue quality education at low costs interest rates, fair amount of time to repay the loans and more importantly flexible ways to repay them.
However, when it comes to choosing the amount, interest rate applicable, tenure taken, principal amount deduction it’s a big dilemma for people. Therefore, banks and firms have introduced Education loan Interest to make life easy for students in choosing the best loan facilities.
While taking loan parents and students often stuck in lot of pros and cons and are mostly unable to figure the exact amount sufficient to meet their requirements especially for higher studies. Another big concern is that they are often tensed is the repayment modes and flexibility options available to clear off the debt at optimum costs with maximum term in hand. With Education loan Interest you can easily estimate your monthly loan payments amount in a matter of seconds. These calculators help to lower the repayment burden as well.
The interest rates on education loan are either fixed or variable basis. It ideally varies with the category of the course and location where the student is going to pursue his or her studies. If it’s foreign studies it will be expensive compared to Indian studies. These education loan calculators let borrowers to enter their total income, their domestic status, loan amount, interest rate applied etc.
Once you provide this details an array of principal amount calculated, EMI set, interest calculated, timeframe till when you need to clear debt will be displayed on your computer screen. These calculators also facilitate users to know the balance of their education loan after some period. Some loan interest calculators on comparison sites provide dropdown menu that allow borrowers to choose amongst similar categories loans for local & abroad that will assist families to consolidate loan amount and interest rates.
While identifying EMI, variable like your marital status, age and how long you will be attending studies, extra income source can be utilized for equation.
What you can contribute and what scholarships or concession you have in hand will also help study loan calculator to draw conclusion on facts like what amount of debt you can expect to take on, or cost after pursuing higher studies? This will let you know your risk appetite. While calculating loan is a tuff part and never seems to be happy story, with Education loan Interest atleast things are simple and sorted. Every person who pursue higher studies might face high or low in career, job prospects and money savings but education loan calculator makes these debt more manageable, and, in the long run, worthwhile. It helps students and parents stay mentally prepared with the loan structure, their outstanding amount from time to time and flexible options available to clear off the debt. More importantly it sets a peaceful frame of mind to get an effective approach plan for clearing education loan.
In order to make sure that no student is denied of pursuing higher education, various banks and private finance firms in India have come up with low education loan interest rates, flexible repayment options and better repaying tenure facilities for educational loan scheme. And Education loan Interest act as perfect guide that will help you ease the processing of complex calculations with flexible repayment procedures as well.
Investments are made solely with the aim of acquiring attractive returns in the future; for some they portend short term returns while for others, they are an assurance of long term returns. SIP Mutual Funds facilitate the savings of individuals in the most orderly manner. Mutual fund investments have become a hot property for those with heavy pockets and SIP mutual funds come to the rescue of all investors, big and small. Prior advice and guidance from Fund managers or experts helps you invest in the correct manner.
Investments through credible brokers:
Brokers often offer investors aggressive and conservative SIP mutual fund options. The former involves making investments in at least two large-cap stocks and 3-4 mid-cap stocks while the latter involves investments in at least five large cap stocks. Some finance institutions go a step further with an additional ‘moderate’ option of investment. Under the circumstances, Brokers apprise investors consistently about all updates and performances of the stocks in question.
You should leave the decision of selecting the most suitable stocks to your broker /finance experts as they are skilled professionals in this domain. They guide you towards understanding the risks and the returns which you may be totally ignorant about.
SIP Mutual Funds include investments of your money across sectors in established industries which have a proven track record of positive performances over a period of at least 6-7 years. This diversification of your funds helps reap the greatest rewards over a long time-frame. Your savings are compounded & the returns are striking. You must remember though, that the performance of these stocks has to be consistently progressive. These funds are a panacea for unstable economic situations as they safeguard your funds to the hilt.
SIP Mutual Funds comprise of the highly risky, Equity-based Growth Funds, totally dependent on the performance of the stock market. Investments upto 6-7 years in these funds bring highly lucrative returns to investors. The less risky, Equity-based Balanced Funds, involve investments in Equity & Debt. A lock-in period of at least 3 years guarantees investors with impressive rewards. You can also consider Debt-based Income Funds and Debt-based Ultra short term funds. The former requires a time -frame of at least 3 years while the latter requires only two years and would not reap you great benefits.
Investments in SIP mutual funds offer you the luxury of re-investing the returns you receive at the end of the said tenure. This simply means more benefits and more wealth for investors.
There are many merchant services that offer different ways to process credit card related transactions. Choosing the correct process for transaction purposes can lead to the efficient and smooth running of the business. The four methods of services which people should be aware of are online, terminals, manual transactions, and mobile terminals.
In this article, we will explain each process in detail to help you understand which method would fit best for your company or business transactions.
Terminals are basically the card readers that are used by retailers where customer’s card gets to slide into their magnetic strip while paying for a product. There are also terminals which can be simply tapped to complete the transaction and they are known as “tap and pay.” Such terminals read cards using Radio Frequency Identification chips inside them.
Irrespective of which terminals you plan to use, these machines are attached to retailer’s cash registers and the transaction is processed using internet connection.
Online processing of credit card payments involves using an online website to sell services and products. We all have experienced and seen the option of shopping cart provided by merchant services which help customers to place the order for goods quite easily.
This method of card payment processing is one of the best choices for those who sell their products through online portals. This type of service is also very convenient for customers for purchasing products online.
Mobile terminals are quite portable and are plugged into mobile phones. In this process credit card is swiped through the mobile terminals and the transaction is processed through mobile internet. There are many merchant services that can also process the payment without the terminals. There are special applications on the phone where the retailer types the card information and the application sends the payment information directly to the merchant services and the payment is further processed. This method is constantly used by the sellers who are involved in door to door selling and constantly travelling.
The manual transactions for card payments are processed without any use of the electronic machine. Merchants use manual imprinter of credit card and create a copy of consumer’s credit card. The manual imprinter machine is placed over the credit card and a special piece of paper is kept on it. The lever of the machine is pulled which reads the raised information including card numbers against the paper.
If the process is done properly, the card information and letters get printed off on the paper. As soon as, the process is complete the information is further manually typed and sent to the merchant services. This method is extremely helpful to those businesses where credit card transactions are less, on daily basis.
To conclude, every type of business looks for efficient method to provide the best payment solution to the customers and to save card fees. To improve and give the best merchant services there are few added services offered by many companies such as high-speed terminals, low processing, backup connection for the emergency, wireless terminals.
Always consult the experts of a service company and discuss the business requirements and accounts. They will guide you in setting up the payment service and also give technical support and backup options in case of any concerns.
Over the last few years, the field of electronic funds has witnessed a rise over the past few years. This has resulted in an increase in the opportunities in the e- commerce and m – commerce industry. Banks and financial institutes are now interconnected via a centralised network, thus allowing easy access to any account details on the central server. This enables users to transfer funds between any accounts, although there is considerable distance between each of them.
Banks have introduced several additional services making financial transactions a convenience for many. Amongst these services, the instant money service has been one of the most beneficial ones. Instant money transfer service, is an innovative card less cash withdrawal service. Through this service, you can remint funds to anybody within the locality or country. In some cases, you can even transfer funds to another individual, just by providing a mobile number. The receiver can then withdraw and access the funds from the account, without the requirement of using a banking card.
When to make use of the instant money transfer?
One of the main benefits of this money sending service is that it can be used at any time. Additionally, the beneficiary can have access to instant cash anytime they require it. This service is beneficial for cases wherein :
- The receiver needs instant money
- The receiver needs to make a cash transfer
- The receiver does not have a bank account
- The receive is not in the vicinity where cash can be delivered.
- The sender does not have details of the receiver’s account number
How does instant money transfer work?
Instant cash can be transferred to any mobile number in India. All you need to do is provide the beneficiary’s mobile number. In order to make the fund sent, the sender or receiver must login into the internet banking service and initiate the money transfer. The sender and register must then register a one-time account by entering one’s name, mobile number and the required address details. Once both the accounts have been registered, the money transfer service can be initiated once both parties receive information about the details of the transfer.
Normally the details regarding this transfer include:
- Transfer amount
- SMS code, which provides the authority to withdraw funds
- The unique code referring to the transfer
- Expiry dates of the transfer.
Instant money transfers withdrawal
Once the process has been completed, the beneficiary can access the funds through the bank’s ATM or even use the funds directly from the instant money transfer account. When withdrawing funds directly from the ATM’s account, you will need to provide details of:
- The mobile number on which the transfer details were received
- Sender’s code
- SMS code
- Transfer amount