How to Avoid Frauds When Choosing School Abroad

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There are scammers who take advantage of the good faith of people who seek to realize their dreams and literally’ tumble’ them with their curriculum abroad. However there are ways to avoid falling into the trap.

Never trust what is too cheap. That is a signal that should help students and their parents and alert them to possible fraud. But it has happened in terms of studies abroad, that some individuals set up those illegal colleges that end up promising this life and the other to dreamers who go after their intention to improve their knowledge or learn languages.

Ask for legal documents

A school must have permits and authorizations in the country to operate. Don’t be afraid to ask about the registration in the Chamber of Commerce, its registration with the government, among others.

Better if it is referenced

Many centers live from the good reviews left by other people who already know their services. In this, it is important that you ask, research, and have someone you know tell you about your relationship with the school. That creates more credibility. Try to connect with multiple people who have given reviews, over Facebook or Linkedin. By doing this, you will come to know the real inside picture of the said school. Do not blindly trust reviews, as anyone can create fake profiles and start writing positive reviews.

Is the school affiliated?

Another key is to check whether the school is affiliated or has recognized partnerships. For example, support from LSI (Languages Studies International) is a bonus for the school that offers programs in the UK, USA, Canada, Australia, New Zealand, Switzerland and France. This ILS manages agreements with the British Council, ETsS, Cambridge English Language Assesment, among other entities, with which it goes more’ fixed’.

Get more information from embassy

It is a good practice to ask directly at the embassy whether the institution that is working with you or where you plan to study has any recognition at the embassy in the destination country.

Remember it’s your career and money is involved. So it’s your duty to choose the best school and make career.

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6 ETHICAL Ways Low Income Earners Can Earn Extra Money from Home

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By now everyone must be aware of Rs. 11,300 crore loan scam. Although it was a fraud committed between multiple entities, one thing to note is income is the most important criteria in availing any type of credit.

Higher the income, higher would be the sanctioned loan amount. Income of businessmen, salaried, or self-employed basically helps in evaluating the credit worthiness of the applicant in addition to other factors such as credit score, years in job, and others which are also taken into consideration whenever loan application is processed.

However the process of getting any type of credit is very easy for higher income earner but is equally difficult for a poor income earning person. So even if a low income earner wants to invest money in something new for e.g. starting a business, chances of getting a loan are extremely difficult. Although there are banks offering loan to low income individuals, the money may not always be sufficient to meet the demand.

So the other alternative is to earn second income in addition to your existing job/business. And there are many ways to generate additional income that too from home requiring bare minimum investments.

And here’s the list especially for low income earners to earn side income sitting at home.

Sell Unused Items

Open any closet in your home, and I bet most of what you’ll find are things you haven’t used in the last 6 months. Don’t you think it’s time to clean up and get rid of what you don’t use and it’s just sitting there collecting dust?

Selling your clothes, gadgets, or other items that you no longer use is a good way to earn few extra rupee.

You could sell anything:

  • Furniture
  • Mobile phone, Laptops
  • Clothing and accessories
  • Books and CDs
  • Bikes, Bicycle
  • Small household appliances
  • Crockery
  • Toys your children no longer use
  • Musical instruments

You have several options where you can sell them online in India on websites of Ebay India, Quikr, EazySeller, Olx, Koove.

This is one of the best ways to earn extra money, because you can go around your house right now, look for these things you don’t use anymore, take one or two photos, upload them to one of these websites listed above… and you can sell it off in fast depending on the requirement, condition of the product, etc.

Sell Your Talent and Earn Extra Money

Talent is everything. If you are good at something, then you will definitely earn good money. Having multiple talents is always a boon. For e.g. if you are a software developer and at the same time have a good writing skills, then you can earn extra money in your free time by writing for companies located across the globe. There are many freelancing websites which let you work from anywhere and pay money.

List of top websites where you can find work as a freelancer are:

  • Freelancer.com
  • Upwork.com
  • Elance.com
  • Guru.com
  • Peopleperhour.com

Blogging

A good flair for writing is another option to start making money from home or anywhere. Once you gain good traffic and meet other requirements, you can start earning money through advertising (adsense/affiliate).

Take Care of Neighbor’s Children

Babysitting is one of the best source to earn extra money. In fact some individuals make a living of it. However you should be a pro in dealing with children. Any misdoing will land you in legal trouble. So be extra careful while putting your hands in babysitting.

Cashback

Being a poor earner, getting a credit card becomes difficult similar to a loan. However there are cards for low income earners and if you manage to get any of these card then cashback is the best way to earn money by spending money. Cashback is nothing but the reimbursement (part of purchased amount) you receive on the purchase made online. Although in order to earn more cashbacks, you have to spend more, but finally money is money – whether small or big.

Youtube Channel

If you have an excellent skill/s, create educational videos and earn money by adding adsense. And this is possible through Youtube. By launching your own channel on any topic (makeup, hairstyle, cooking, etc.) and then growing the traffic, you can create good side income.

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6 Money Making Scams You Should Know But Always Ignore

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This article is on a funny side but with a serious message. And should give you a smile in the end or will atleast stop you from falling into the trap of quick rich schemes.

So here’s a list of money making scams tricks scammers use to entice individuals with an objective of duping money.

You’ve won millions

Commonly spread through E-mail or SMS stating “Congratulations your mobile number has won 1.2 million euros or dollars”. Reply with your name, and E-mail to receive money”. Once someone replies, more communications will take place and the other person will ask for your bank account details. And in order to receive the money, you will be asked to first transfer small amount of money to the sender. And in return, the person will promise to send the award money.

So imagine – if 1 million individuals receive such E-mail or SMS and 10, 000 reply and of that 1000 ultimately end up transferring money hoping to receive the award money. That’s it. Scamster’s objective is achieved and your objective to earn money will turn into ashes.

Here’s one such sample:

Crazy, isn’t it. Look at it this way and ask yourself – is money making so easy? Why the hell would you send money to an unknown individual and why would someone, an unknown person, is trying to give you money?

Inheritance Scams

Wow, you are about to inherit an enormous amount of wealth from someone who’ve never seen. Hahahaha..isn’t that great?

Here’s one such scam promising to make you rich by millions of dollars.

 

Business Proposal

Give this a try. Open your E-mail box and search for business proposal. You will get a lot of such E-mails with this or related subject line. Here’s one such sample E-mail.

Straightaway sounds fishy, isn’t it? Why an unknown person would want you to handle his/her business? So if anyone replies, string of conversation will happen and the other person will ask you to invest some money.

Earn passive income every month, doing nothing

There is something certainly worth noticing “Doing Nothing”. Ofcourse everyone wants to earn money sitting at home. But always remember there are no shortcuts to success especially earning money. Had they existed, every individual on this planet would’ve become super rich today. First thing to remember is there is no free money on this earth. To earn money, you need to invest money. Although not every trick is suspicious and there could be genuine business opportunities as well. But before even thinking of putting money, do a detailed research on such proposals.

Don’t sell your dreams, be your own boss

No one wants to work in a 9am-5pm job or work under an arrogant, over demanding boss, who doesn’t care about his/her sub-ordinates. So such individuals are the targets of fraudsters, who try to lure you by showing you following catchy stuff:

There is no shortage of such communications sent in various forms, such as – work from home and earn in dollars, become rich instantly. So be careful.

Double your income

You can definitely grow your money twice or thrice the investment amount but only through legit financial products such as stocks, mutual funds, real estate, etc. However if someone claims to double your money by investing in growing businesses, operating in other countries or investing in, then read it, but take no action, straightaway ignore.

Finally two things to remember when it comes to money –

“Work is a surefire money making scheme” and
“Never give money to unknown”.

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ELSS Vs. NPS: 26 Differences, Features, Tax Benefits

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With financial year coming to end, many individuals must be rushing to invest money in order to get tax benefits under the new Section 80C of Income Tax Act 1961.

Everyone wants to gain as much as return possible through the investments made as all types of investments made to get section 80C benefits has a mandatory lock-in period which is varying. However with range of investment options available in the market; where to invest is the common question amongst tax payers.

There are broadly two categories of investment instruments:

The first option is highly recommended for conservative investors who are ready to earn small but guaranteed returns whereas the second option is for people who are ready to take risk their money with an objective of earning high return along with tax benefits.

In this article we’ll discuss the differences between Equity Linked Savings Scheme (ELSS) and National Pension Scheme (NPS) with both having risks associated due to the equity exposure.

While ELSS has been a favorite amongst investors because of highest return in a short period of time, since it has lock-in period of just 3 years with an option to continue further in the same fund. However recently, NPS has also started gaining interest amongst long term investors wanting to safeguard financials during retirement as portion of money is invested in equity, although small, and what option they really choose.

Following table shows the feature comparison of NPS and ELSS:

FeatureNational Pension System (NPS)Equity Linked Savings Scheme (ELSS)
Type of schemePension schemeMutual fund scheme
Primary objectiveProviding security and pension to all Indians after retirementSave tax
Who is the sponsorer?GovernmentMutual fund houses
Section 80C BenefitYesYes
Lock-in PeriodTill retirement. i.e. until investor reaches 60 years of age3 Years
Amount of tax deduction that can be claimed1.5 Lacs1.5 Lacs
Tax TreatmentEET (Exemption on investment, Exemption on return, Taxation on redemption)EEE (Exemption on investment, return, and redemption)
Premature withdrawal possible?Yes. Only upto 25% and only for certain purpose and provided you purchase annuityNo
How many times money can be withdrawn partially?3 times during the tenureWithdrawal not allowed
Additional tax benefit?Yes. Rs. 50000 under Section 80CCD(1B)No
Are the returns guaranteed?NoNo
Are the returns tax free?Only 40% of corpus is tax-freeNo. Entire corpus is tax-free as it is a long term capital gain.
How to invest?Through select fund housesThrough multiple fund houses
Minimum contributionRs. 6000 per year in Tier-I and Rs. 2000 at the end of year in Tier-IIRs. 500 as a lump-sum in a year or every month as SIP
Withdrawn money can be used anywhere?No. 40% should be used to buy annuity, which becomes pension after the retirement and remaining 20% to buy an annuity or withdrawn after paying taxes. 40% of the corpus is tax-free.Yes
Who can invest?Indian citizens above the age of 18 yearsIndian citizens above the age of 18 years
Can NRI invest?Yes. But is useful if NRI settles in India after retirement.Yes
Historically who has offered highest returnAverage 14%Depends on the scheme but average 15%-18%
Who manages the fund?7 pension fund managersFund managers of respective fund house
Best recommended for?RetirementShort term growth
Can you hold investment after lock-in period?Yes. But only Yes
Where is the money invested?Max 50% in equity. And remaining in corporate debt funds (bonds) or government securities.Minimum 80% is invested in equity and remaining in in debt, money market instruments or cash
Can you shift from one fund to another?Yes. But only once a year.No
Can a investor choose where his/her money is invested?YesNo
Can an investor invest in multiple funds?No. Only one NPS account can be opened by a subscriberYes
Does employer also contribute?Yes, under Tier-I accountNo
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Loan for Low Income Earners against FD: Min. Amount 10,000

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There are multiple ways to get personal loan in India and amongst all the most convenient option is to invest in fixed deposit and get personal loan against the FD.

This option may not be suitable for everyone. But for low income earners, personal loan against fixed deposit is the best solution. Reason is when a poor income earner, applies for an overdraft loan via traditional way i.e. application and then awaiting for the lender’s reply is time consuming and at the same the result in most of the cases is not satisfactory.

This is because the eligibility criteria for loan are very stringent and applicant has to meet following two main conditions:

  • Income – The most important criteria checked worldwide including India. There is a minimum annual income required to get a loan.
  • CIBIL score – In order to evaluate credit worthiness of the borrower, banks do a rigorous verification check via CIBIL, India’s credit rating agency. Banks get access to the borrower’s past financial transaction history and based on that they calculate the CIBIL score (out of 900). If the score is above the minimum threshold, then applicant has a good chance of loan approval otherwise not.

There are many other conditions such as address proof, employer status, type of job etc. However the above two eligibility criteria are always checked.

But in case of poor earning person – salaried or self-employed; getting a loan becomes difficult because of the first condition i.e. income. Although there are banks offering personal loan to low income earners (requiring monthly income starting from a minimum Rs. 5000), there are denial possibilities because of inability of meeting other eligibility criteria.

Other option is to get loan from co-operative banks having less stricter eligibility norms.

Therefore taking overdraft against FD is most convenient as there are multiple benefits as follows:

  • No income criteria
  • Fast loan disbursal
  • No CIBIL check
  • Minimum documentation
  • Low interest rate compared to traditionally taken loan and few others
  • No prepayment penalty
  • Low processing fee. Some banks do not even charge this fee.
  • Borrower can use the fund for any purpose

Here is the table showing minimum loan amount offered by various banks against fixed deposit:

Financial InstitutionMinimum Loan Amount (Rs.)
Axis Bank25,000
ICICI Bank10,000
State Bank of India25,000
Bajaj Finserv25,000
Kotak Mahindra Bank25,000
Bank of Baroda1,00,000

Few points to take a note of when thinking of taking overdraft facility against FD:

  • You can borrow after a certain period of opening FD account. Typically 3 months is the minimum period.
  • There is no standard tenure of taking loan. However it should not be more than the FD tenure.
  • You cannot borrow more than the FD amount. Typically 80% – 90% of the deposit amount can be granted.
  • Interest is charged only the amount drawn and not on the entire amount kept in FD.
  • If you fail to repay the dues, bank has authority to recover from the FD.
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2018: 74 Credit Cards for Low/High Income Earners

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Ever thought of getting free money every month to buy almost anything in the world, from anywhere, in addition to free period to payback the bill, and that too with an option to pay minimum amount only and not the full amount?

That’s what credit card is all about, the most widely used payment method in the world whose usage is now growing steadily in India as well. These are just few benefits offered by the credit card but the most important ones attracting users across the globe.

However the painful thing is not everyone is eligible to get credit card despite of everyone being interested in owning a one.

Card applications are scrutinized in detail and typically are rejected because of:

  • Poor credit score
  • No credit history
  • Low income
  • No income/address proof and few others.

The decision to approve or reject the application is solely dependent on the bank or card issuer and you may never come to know the reason for the rejection. For e.g. If you are able to meet income criteria, the card application can get rejected, if you do not have income proof and so on.

In case of credit card (or loan) the applicant’s income is the most commonly checked eligibility criteria. Income/salary is actually directly proportional to the credit card limit and approval chances. Income and credit history check are the only ways for a card issuer to evaluate credit worthiness of the individual and stop them from investing in a loss making customer.

Higher income will add more weightage to your application and you will have good chance of card approval along with a high credit limit. But at the same time, low income may result in application rejection. And if approved, the limit will be lower. But this doesn’t mean – poor income earners will never get a credit card. Because issuers want to sell more and more cards (but only to individuals who according to them are credit worthy). There are cards for low income individuals offered by various banks in India. Their objective is to tap low income groups in need of credit.

Here is the table showing 74 credit card and the annual/monthly income requirement:

Sr. NoCredit Card NameMinimum Annual Income Required (Rs.)Equivalent Minimum Monthly Income (Rs.)Card Issuing Bank
1India Card75,0006,250Bank of India
2Visa Gold1,50,00012,500Bank of India
3Visa Gold International1,50,00012,500Bank of India
4Axis Bank Gold1,80,00015,000Axis Bank
5Select9,00,00075,000Axis Bank
6Vistara Infinite6,00,00050,000Axis Bank
7Vistara Signature6,00,00050,000Axis Bank
8Vistara6,00,00050,000Axis Bank
9Privelege Credit Card6,00,00050,000Axis Bank
10Freedom Card1,44,00012,000HDFC Bank
11Bharat CashBack1,44,00012,000HDFC Bank
12Diners Club Premium7,20,00060,000HDFC Bank
13Diners Club Rewardz3,60,00030,000HDFC Bank
14Business Regalia First7,20,00060,000HDFC Bank
15Canara Visa Classic / MasterCard Standard1,00,0008,333Canara Bank
16Canara Gold2,00,00016,666Canara Bank
17RuPay Platinum1,80,00015,000Andhra Bank
18VISA Classic3,00,00025,000Andhra Bank
19VISA Platinum5,00,00041,666Andhra Bank
20VISA Signature10,00,00083,333Andhra Bank
21RuPay Select5,00,00041,666Andhra Bank
22Titanium2,00,00016,666Bank of Baroda
23Signature12,00,0001,00,000Bank of Baroda
24Platinum4,00,00033,333Bank of Baroda
25Bombay Bullion (Co-branded)3,00,00025,000Bank of Baroda
26Gold for Salaried1,80,00015,000Corporation Bank
27Gold for Professional1,80,00015,000Corporation Bank
28Gold for Senior Citizen1,20,00010,000Corporation Bank
29Gold for Self Employed2,00,00016,667Corporation Bank
30Platinum for Salaried2,50,00020,833Corporation Bank
31Platinum for Professional3,00,00025,000Corporation Bank
32Platinum for Senior Citizen2,50,00020,833Corporation Bank
33Platinum for Self Employed3,00,00025,000Corporation Bank
34Signature Card for Salaried10,50,00087,500Corporation Bank
35Signature Card for Professional10,50,00087,500Corporation Bank
36Signature Card for Senior Citizen10,50,00087,500Corporation Bank
37Signature Card for Self Employed10,50,00087,500Corporation Bank
38Visa Classic for Salaried60,0005,000Vijaya Bank
39Visa Classic for Self Employed50,0004,166Vijaya Bank
40Visa Global for Salaried1,20,00010,000Vijaya Bank
41Visa Global for Self Employed1,00,0008,333Vijaya Bank
42Vijay RuPay Credit CardNANAVijaya Bank
43MasterCard Titanium1,50,00012,500Central Bank of India
44Visa Gold1,50,00012,500Central Bank of India
45RuPay Platinum1,50,00012,500Central Bank of India
46MasterCard World5,00,00041,666Central Bank of India
47Visa Platinum5,00,00041,666Central Bank of India
48Aspire (Against Fixed Deposit)20,000 (Minimum Deposit)-Central Bank of India
49Rupay PlatinumApplicant should be account holder-Central Bank of India
50RuPay SelectApplicant should be account holder-Central Bank of India
51Gold1,50,00012,500Indian Bank
52Classic1,50,00012,500Indian Bank
53Bharat72,0006,000Indian Bank
54Platinum1,50,00012,500Indian Bank
55Gold for Salaried1,50,00012,500Syndicate Bank
56Gold for Self Employed2,00,00016,666Syndicate Bank
57Classic for Salaried60,0005,000Syndicate Bank
58Classic for Self Employed1,00,0008,333Syndicate Bank
59Classic for Senior Citizen60,0005,000Syndicate Bank
60Empowerment for Salaried80,0006,666Jammu and Kashmir Bank
61Empowerment for Self Employed1,50,00012,500Jammu and Kashmir Bank
62Visa Platinum5,00,00041,666HSBC Bank
63Gold5,00,00041,666HSBC Bank
64Platinum Chip2,50,00020,833ICICI Bank
65Coral5,00,00041,666ICICI Bank
66Rubyx10,00,00083,333ICICI Bank
67Sapphiro15,00,0001,25,000ICICI Bank
68Ferrari Signature15,00,0001,25,000ICICI Bank
69Jet Sapphiro15,00,0001,25,000ICICI Bank
70Jet Rubyx10,00,00083,333ICICI Bank
71Jet Coral5,00,00041,666ICICI Bank
72Ferrari Platinum5,00,00041,666ICICI Bank
73Instant Platinum (Against Fixed Deposit)20,000 (Minimum Deposit)-ICICI Bank
74Coral 20,000 (Minimum Deposit)-ICICI Bank

Few cards (RuPay) and against fixed deposit, as mentioned above, are offered only to the account holders of the respective bank with income being the least important criteria. For cards against FD, income is not the eligibility criteria. Only a minimum deposit amount is required to get a credit card against FD.

As you can see, low monthly income earners can also get credit card provided they meet other eligibility criteria of the issuing bank. There are many other cards offered by various banks in India but income criteria could not be retrieved. So if you are approaching any bank for credit card, ask for list of all the cards.

Note: As mentioned above there are many reasons for card application rejection and income is one of them. The decision is solely on the bank to approve or reject.

And in your spare time, do mention the card name, income criteria and name of the bank in the comment section of this page. We will add the card to the above list, so that it will help other readers of the site.

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6 Ways to Get Personal Loan with No Income Proof

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Digitization has made the process of borrowing money extremely easy. In fact, many lenders claim to approve the loan within hours of application. However there are terms and conditions involved and most important being the income and proof. Every commercial lender will first ask the applicant for the annual income and then ask proof verifying the income – salary slip and income tax return statement.

The reason why income is most important criteria is because credit worthiness of the applicant is evaluated on this basis. There is no other way to evaluate the risk associated with the applicant apart from credit history check, which is not a full proof method.

However not every employer in India provides pay slip at the end of every month due to whatsoever reasons. Or many companies pay salary in cash or cheque. But this creates problem for following category of loan applicant employee when he/she applies for the loan:

  • Salary is paid in cash with no proof showing that it is paid by the company you work for.
  • Salary is paid via cheque but no pay slip is given.
  • Self-employed – earning irregular income with no income tax paid.
  • First time in job
  • Homemaker

So can such individuals get personal loan with no income proof?

Answer is YES. Getting loan is possible (though difficult) with no income documents available.

Here are the options to meet the money requirement:

Ask friends or relatives: One of the best and most widely used alternative to get money at the time of need. This option of borrowing money works completely on trust. What best you can do is give interest to your acquaintance (lower than what a bank charges) in addition to the borrowed money. So borrowing money actually becomes a personal loan. Borrower will be happy as he/she would get more money in return. And in future, can provide you more money, at the time of urgency. Basically mutual trust will further strengthen.

Joint loan: If above solution does not work, then you can request other person to apply for a joint loan (assuming the other person is eligible to get loan). The loan will be on his name. And loan repayment responsibility will be completely on your shoulder. Again this option works on trust. It is similar to supplementary credit card.

Against fixed deposit: One of the best recommended option to get personal loan with no income proof or if applicant is self-employed or student or homemaker, is loan against FD. It is a secured loan, where applicant must have FD account with the bank. And the loan amount is dependent on the money kept in the account. Typically 80%-90% of FD amount is given as the loan amount. This option has multiple benefits such as no pre-payment charges, low interest rate; but 1%-2% higher than the interest offered on the FD amount, interest charged on the used amount and not the whole amount. If you can show healthy balance in your bank account then lenders will automatically offer pre-approved loan by asking you to get loan against fixed deposit.

Private money lenders: This is the least recommended option to get loan due to two main reasons – very high interest rate and bad recovery process. If you are using this option to get a loan, then check out this article containing information on pros and cons involved in private money lenders.

Co-operative banks: Commercial banks (e.g. ICICI, Axis, HDFC & others) will always ask for pay slip to verify the income. However commercial banks have less stricter norms and they do not ask for income documents. In order to get loan, you need to be a member of the bank along with other terms.

Peer to peer lenders: These online marketplaces for loan are other option to explore to get personal loan. You can bargain for interest rate and the eligibility criteria are less strict compared to commercial banks and not everytime you will be asked to produce income documents.

How to convince lenders to provide personal loan when no documents are available?

If you are a genuine applicant and income documents such as salary slip is not available, then you can request lenders by providing following additional documents which will add more weightage to your personal loan application.

Employment offer letter: Even though your company does not offer salary slip, employment offer letter showing currently drawn income may help in some way.

Income proof from previous job: If you had been working earlier where salary slip was given regularly, then keep it handy and submit as a proof. And along with that, you can show offer letter of the current employer showing your salary. Typically, when you switch jobs, income also increases.

Bank statement: To further support above two documents, bank statement showing income from your employer can also be helpful. Statement showing money deposited in your bank account on a specific date of the month is an excellent income proof.

Photocopy of cheque: Many organizations pay salary to their employees via cheque. One of the first thing to do when you receive cheque is to take photocopy and snapshot of the same and then deposit the money in the bank account. Photocopy of cheque is also a good income proof.

Although these documents are not a replacement, but your application will definitely be considered for a review.

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Monthly Investment with Rs. 56 Lakhs on Maturity

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The golden rule for a successful, secure, and growth oriented financial future is consistent investment in best products for a long term and depending on the risk appetite.

Now investments can be made in zero risk or high/medium/low risk avenues. And both have its own advantages and disadvantages. Risk and returns are the top features to be taken into account while investing. Risk here means the money is not guaranteed to provide you positive returns.

Zero risk, as the name suggests, carries absolutely no risk but gives lower returns whereas high risk investment products has risk associated with them but claims to offer high return on maturity. In case of no risk instruments, your invested money is absolutely safe and you are assured of returns. In fact, you can easily estimate your returns since the interest rates are fixed. Although in some products, the rates keep on varying but estimates are easy to calculate. However in case of risky products, the returns are not easy to estimate. This is because depending on the product, the returns fluctuate.

Now depending on the risk appetite of the investors, money can be put in either of the above mentioned categories or mix of both as follows:

Risk Free: Best recommended for conservative investors wanting guaranteed returns. Public provident fund, Sukanya Samriddhi Yojana, Fixed Deposit are few examples of safe investment options.

Investment ProductInvestment Tenure (Years)Current Interest RateMonthly Investment Amount (Rs.)Total Invested Amount (Rs.)Return Amount (Rs.)
Sukanya Samriddhi Yojana148.3%10,00016,80,00056,18,575
Public Provident Fund157.8%10,00018,00,00034,58,202
Fixed Deposit 56.5%Lump sum investment for 5 years2,40,0003,40,563
Recurring Deposit37.5%10,0003,60,0004,04,828

Risky Assets: This category of investment Equities, Mutual Fund, Company Fixed Deposit, Non-convertible debentures, (NCD) and Bonds, Real estate before launch.

Investment ProductInvestment Tenure (Years)Expected Annual Returns (%)Monthly Investment Amount (Rs)Total Invested Amount (Rs)Expected Return Amount (Rs)
Equity Linked Savings Schemes315%10,0003,60,0004,56,794
Mutual Fund515%10,0006,00,0009,00,000
Equities5-Bought 1000 RIL shares in Jan'13 & sold in Jan'184,40,0009,50,000

In the above table, for investments associated with risk, the estimated returns are calculated on the basis of historic returns of each product or fund or equities. And there is no guarantee that the investor will earn similar returns in the future.

Calculating equity returns is very difficult as it depends on which company’s share purchased, quantity bought, price at the time of buying, and at the time of selling. So someone who had purchased 1000 RIL shares in January 2013 at the price of Rs. 440/share (i.e. total investment of Rs. 4, 40,000) and sold all 1000 shares in January 2018 with current market price of around Rs. 940/share, would have earned Rs. 9, 40,000. This is almost a 113% increase in 5 years which beats any other investment products (except real estate). Investing in equity can be done by putting all eggs in one basket or eggs in different baskets. It’s all about timing the market, at the right time, and at a right price.

Similarly returns from mutual funds depend on invested amount and the fund. Every fund gives varying return depending on the fund performance over a period of time.

Always remember to invest depending on the risk appetite and never get attracted towards quick get rich money making schemes/products. There is no investment product which will make you enormous amount of money in short span of time. It takes years of efforts to generate wealth ethically.

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Buy & Sell Bitcoins: 5 Most Secured Websites

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Whether you want to buy or sell Bitcoin on the web, you will find many sites claiming to be intermediary in this type of transactions as a way to provide security to people and their hard earned money. This is because nowadays there are many forms of deception and fraudulent tricks that can end up leaving investors without money.

Although this intermediation involves a small cost. But it is worth it, as they safeguard your money to do business and infact normal trading.

So here is a brief overview of the best platforms to buy and sell Bitcoins so you can trade your money with confidence. These are the most popular sites that have maintained a good reputation in the transactions carried out through them.

Bitcoin’s Best Buying and Selling Platforms

The percentages they charge for their services vary and in some cases benefit those who operate with large amounts of money, which is very attractive.

So here you go:

Coinbase

This is one of the best sites out in the market for trading digital currencies including Bitcoins, especially since it makes trading extremely simple.

Users are given the opportunity to benefit from the ‘dollar cost averaging’ method. This means that you can set it up to buy bitcoins automatically on a weekly or monthly basis. But the biggest advantage is that, it is one of the safest places to carry out bitcoin trading.

Every transaction is monitored and every time a suspicious activity occurs, there is an investigation into the matter. And the company reserves the right to close the account once they prove that it has been abused.

Interested in purchase or selling of Ethereum and Litecoin, then this is the best online platform to earn money.

Official website: https://www.coinbase.com/

LocalBitcoins

The service offered by this site has the advantage that you will be able to find buyers and sellers of Bitcoin in your own country, which gives you the advantage of being able to use domestic banks to make transactions. It is also the fastest platform for trading the cryptocurrency.

There is no official price here, the seller sets the price and its reputation is supported by users who have already linked to it. During the transaction process Escrow or intermediary to ensure the legality of transactions.

Official website: https://localbitcoins.com/

Bitstamp

Here you can find a variety in the price of Bitcoin, either for purchase or sale. It has a very simple system to operate, but it is very safe too. The operations are carried out very quickly.

The collection of transaction fees varies according to the movement of Bitcoin’s value during the month in the market. The acceptable currency for the purchase and sale of the digital currency is the dollar.

Official website: https://www.bitstamp.net/

Kraken

On this site anonymity is also important, your data will be well protected and cannot be used by third parties.

The amount of commissions you are charged for transactions depends on the type of currency used. Dollar and euro accepted.

Official website: https://www.kraken.com/

Bitfinex

This Bitcoin market place is not as popular as the previous ones, but it does provide an excellent level of security to its users, as it makes a daily backup of the operations done on their platform.

In addition, it uses the service of a security company to prevent unwanted break-ins of which these companies are targets. The dollar is the currency you accept for transactions and the percentage of your service fees decreases as you make more transactions.

Official website: https://www.bitfinex.com/

There are many online platforms out there in the market to trade cryptocurrencies such as Bitcoins,  but the above listed ones are very safe and trusted by traders across the world. If you know any other platforms, then mention in the comment at the end of this article. We’ll include it in the list.

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Ripple: Features, How to Buy, Safety, Future, Comparison

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Although Ripple has all the characteristics of a cryptocurrency, it differs from others in a couple of ways.

First of all, it is not a completely decentralised currency, it is under the control of Ripple Labs. And this for many people is not a point in their favour, because its value is intrinsically related to what happens with that company.

Secondly, this coin cannot be mined.

Main Features of Ripple

It is an alternative cryptocurrency that is based on Bitcoin technology, with which the money could easily be exchanged. An alternative that is revolutionizing the way banks operate.

It uses ripple technology, this is nothing more than releasing the money. It would no longer rely on banks, credit cards or any other means of restricting international transfers.

Its use enable banks to substantially reduce operating costs and offer new services to their users for instant international transfers and payments.

It provides access to any interbank network, speed for instant settlements and transfers, certainty for the mobilization of money and costs to the minimum value for each transaction made by users.

Is Ripple safe?

Large global financial institutions have started using Ripple protocols for real-time inter-network trading and currency exchange. Unlike other crypto currency coins, their actual use has meant that more and more banks are using them to offer better services to their customers, starting by reducing costs. It is as simple as transferring $1, 00,000 to Japan, for example, immediately, this currency is received and converted into the local currency. No intermediaries in between and in matter of seconds.

The expectations and advantages offered by Ripple, has led large companies such as Google Ventures, Standard Chartered, Accenture Ventues, to invest millions of dollars in their market. In addition, it is receiving the support of adding to its customer networks, financial institutions with broad international strength such as American Express, Santander, BBVA, Cambridge Global Payments, YES BANK, MUFG, eZforex.com, SEB, Star One Credit Union, Akbank, SBI Remit and Banco del Eje. On 12 January, 2018 MoneyGram also announced partnership with blockchain startup Ripple.

With these entities, there are already more than 50 entities that are using Ripple. This has led them to have the most modern interbank network services worldwide. To let you the power of Ripple, it can settle 1,000 transactions per second, which is faster than biggest cryptocurrency out in the market – bitcoin which has capability of handling 7 transactions per second.

And this is what is attracting financial institutions.

Buying Ripple in 2018

The process for buying Ripple does not differ much from the way the other cryptocurrencies available in the market are traded. You just have to meet some conditions and know how to pay.

In the first place, one must resort to what is known in the world of crypto coins as Exchange. These are online platforms that function as a financial market where you can buy different types of cryptocurrencies. For example, there is exchange where individuals can trade only Bitcoin.

The safest and most popular Exchanges to buy/sell are:

Changelly: This exchange is easy to use and accepts other cryptocurrencies as payment. Just open an account on the platform, select the amount of XRP you want to buy, the currency in which you want to pay and the wallet where you want to receive the XRP.

Bitstamp: In this platform you can buy XRP not only with crypto coins, but also with other types of monetary units such as dollar/euros, and widely used payment method – credit card. To purchase XRP here, you need to open an account on the site and make a deposit or money transfer to have a balance in the account. The next step is to select the type of currency to be paid, either digital or dollars, etc., add the wallet and confirm the purchase.

GateHud: Here you can also buy XRP with various currencies (dollars, euros, etc.) or digital money by following a very similar process.

In the course of the XRP purchase it is necessary to provide the wallet or, in some cases, these remain in the exchange. If this is the case, it is necessary to pass the XRPs to the personal wallet of preference. It is always recommended not to leave them on the Exchange platform.

Ripple against other digital currencies

Before Bitcoin, in the coin market, there were other digital coins.

However, it was Bitcoin that revolutionized the technology offered by the blockchain to strengthen this market and become the first currency to be accepted for the payment of goods and services by large companies engaged in international trade.

The problem with Bitcoin is that it is designed to generate a certain number of coins. As a result, new digital proposals have emerged that solve this problem, the most popular being Ethereum and Litecoin.

Ripple’s difference between these digital currencies and the one that makes the difference is that it provides currency exchange without intermediaries. This element has led to billions of dollars in investment, which has led to the capitalization market being ranked in third place, behind Bitcoin and Ethereum.

What is the future of Ripple?

When talking about the future that Rippple will have in the market, as with the rest of the cryptocurrencies, some doubts and uncertainties tend to arise in this regard.

But for many experts in the field believe that the characteristics that differentiate XRP from other currencies will make it maintain its position in the market even if there are still ups and downs in its price as is common in the financial market.

One of the elements that gives stability to the XRP is that it has a large number of portfolios that make transactions flow and, therefore, helps to maintain liquidity in your market. And it is in this liquidity where its market is supported to lay the foundations of the confidence that some banks and financial institutions have begun to have in it to carry out some operations with Ripple.

Another important element that ensures the future of this cryptocurrency is the low transaction costs that are made through the system. This particular feature has made many people prefer to perform operations using Ripple.

The value of Ripple in the market may have a tendency to rise in 2018, but it is still one of the most accepted and used cryptocurrencies to perform operations. If all this is taken into account, it can be said that Ripple will maintain its strength in the market, which makes it a good investment option.

Ripple provides a common system

Using a common system to operate between banking networks is what Ripple is making the difference. As a result, banks make transactions within a country through their network, but when they are going to operate outside their borders it is where problems arise, where the first drawback, especially for the user who uses the service, is that the cost per transaction is very high.

In this case, Ripple uses a common system through Gatehub, its official connection between banks that have been added to this growing network to use its protocols. This is how the currency exchange is carried out automatically after the transfer and the money is available in seconds to the recipient, without the cost per transaction being high. This is a great advantage for both banks in the Ripple network and their customers.

It is undeniable that this innovative common system is being the revolution to operate with crypto currency and is therefore becoming a point of interest for large companies, especially in stock markets around the world. Ripple was the trend in 2017, so the statistics show that it will strengthen as the best cryptocurrencies on the market.

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