Category Archives: Finance

This Money Mistakes and Their Easy Fixes

Sometime during our lifetime we spend more than we planned, saved less than we should have or just made some horrible financial decisions. A few financial misfortunes here and there can add up to a lot of lost cash. Check out these common money mistakes and follow the advice to help put you on the path to a brighter financial future.

Money Mistake #1: No idea where your money is going.

What’s The fix? Making a budget is the best thing you can do to find out all the ways you are throwing away your money. At the end of the month you see you have spent $250 on fast food and $0 on paying down your high interest credit card then you need to make some spending adjustments.

Money Mistake #2: Not having an emergency fund.

What’s The Fix? Try and save a chunk of money in case something unexpected happens. It’s a good rule of thumb to have 3-6 months of expenses saved in case of an emergency. Set a goal and don’t stop saving until you hit your goal. If you’re not sure how much to save look at your monthly budget and figure out where you can cut to start saving for a rainy day.

Money Mistake #3: Waiting to save

What’s The Fix? Start saving NOW. Opening a retirement account in your 20s can potentially give you twice as much money as someone who starts one in there 30s.

My recommendation is to follow the Ten Cent Law. Take ten cents of every dollar you earn and put it in your savings account. It won’t be hard to Live on of your income, and you’ll soon have a very nice nest egg.

Money Mistake #4: Using High-Interest Debt

What’s The Fix? If you are regularly overdrawing your checking account, using credit card advances or payday loans, you are essentially throwing your money away. Borrowing is OK, but those forms of debt are way to expensive. These forms of debt most always come when you have exhausted all other options.

Money Mistake #5: Paying off debts in the wrong order

Bigger balances on things like student loans and mortgages can seem overwhelming, but it’s the smaller credit card bills that can really hurt you.

What’s The Fix? Pay off the card whose balance is closest to its limit (having balances close to your limit lowers your credit score), and then start chipping away on the card with the highest interest rate. Also, refinance big-ticket balances (mortgage, etc.) to make payments a little more manageable.

Money Mistake #6: Spending money on items you could get for absolutely FREE

What’s The Fix? Did you know you can get music, books, magazines educational classes, book clubs, and even printing services at the local library? Just access their website and see what they have available. Also, get involved in a clothing swap, borrow from a friend instead of buying, and maybe talk a walk in the park or hike a national park instead of going to the mall. There are plenty of free options. You just need to find them.

Money Mistake #7: Buying NOW

If you MUST have things BEFORE you have money to cover them, you’ve fallen prey to the great American debt trap. Just look at interest charges – debt isn’t cheap.

What’s The Fix? Are you buying things before you have the money to pay for them? Remember, debt isn’t cheap. I believe in good things come to those who wait. I’m sure you’ve heard this before. If you can wait until later to buy that all important item and put money away to save for it, you won’t have to use high interest credit cards. That’s how you become debt free.

Money Mistake #8: Spending too much on housing

What’s The Fix? As we all know, it’s easy to spend way too much on housing. The rule of thumb is, you shouldn’t spend more than of your income on housing. If that doesn’t work for you, living with parents or roommates is a perfect strategy. And, when you decide to move out on your own make sure your mortgage or rent do not put your long-term financial goals in jeopardy.

Financial mishaps are certainly a part of life but it is easy to recognize your mistakes and learn from them. Make it your goal to stop making these common money mistakes. In the end, your piggy bank will thank you.

If money mistakes have gotten you off-track, reach out to the member services team at allU.S. Credit Union https://www.alluscu.com to see how we can help you become more money savvy. We take the financial well being of our members very seriously. We’re committed to being your financial advocate, providing you the necessary resources to better manage your money and make informed financial choices.

This How Tally Confirms In Top Position Over The Years

Tally, as an organisation, has gone through a roller coaster ride- right from being a start-up to a market leader, to seeing a meltdown in product pricing. It has several future goals and the main one is to become a 5,000 crore company in the near future. Bharat Goenka, the founder of Tally Solutions – India’s largest company in the accounting software domain has great ambitions. The company intends to surpass $2 billion in revenues by the completion of FY 16-17 at a growth rate that might make other start-ups to think.

Growing twenty times in few years’ time might come across as an unreasonable dream; however, the ambition to do so is perhaps more of a product of Tally’s unrealised ambitions than a statement of overconfidence. After a long road dented with struggle, success and then some huge mistakes, Tally seems to have discovered itself and sees no reason why it shouldn’t take the open road ahead in an alarming speed. The company’s founder seems to be clear on his priorities for the company this time around. According to him it’s quite easy to make money but not that simple to create an impact and if the company succeeds in doing so, it’s natural that the money will flow in.

Tally’s flagship software, ERP 9, is widely considered the best accounting package available to businesses today. Its ease of use and capability to impart real time information access, thus allowing up-to-date cash flow analysis and offering capability to better understand the numbers behind a business on an ongoing basis are what make Tally unique in India. Today, its product has an 80{0ef4929820f167e8f8519b00d9326892f772d73dd41cde984d23145009372787} market share and as per Mr Goenka, manual book keeping is the only competition. Though financial accounting is a global product, it’s extremely unique for every market.

According to experts, the accounting standard and rules in India are quite different and they change very fast as well. One of the biggest benefits Tally possesses is the understanding of the regulatory environment in the country and the fact that they update their products with great frequency. The other big benefit for Tally ERP is its strong network of partners, who actually go and sell their products in the market. Expert opine that for any global company to succeed in India, wherein lot of small businesses require to have individuals coming and selling and getting their products installed, this is a tough act to follow.

Going Forward

Tally primarily sells its products under two brands; Tally and Shoper. The company has introduced its latest version Tally ERP 9 that has been extremely successful. Going forward, it has also identified an area of opportunity, majorly ‘supply chain visibility’; looking to harness its wide reach to offer the last mile connectivity to small and mid-sized organisations.

For Tally to go past the growing completion and hit the aimed $2 billion mark, it needs to get back to the things that made it successful in the first place, which is innovation and unmatched work ethics.

Riyaz Tamboli is a Director at Antraweb Technologies Pvt. Ltd, a leading provider of Tally ERP 9 Software and support. Antraweb is a Master Tally Solutions’ partner with over 20 years of experience in providing Tally services including integration, customization, providing mobile apps, add-ons and more. His knowledge and experience has been instrumental in developing customized solutions for various businesses. Organizations can benefit from implementing Tally ERP 9 for their business and can download it from website.

This Islamic Banking Model

The origin of Islamic banking dates to the very beginning of Islam in the seventh century. The prophet Muhammad’s first wife, Khadija, was a merchant, and he acted as an agent for her business, using many of the same principles used in contemporary Islamic banking. In the Middle Ages, trade and business activity in the Muslim world relied on Islamic banking principles, and these ideas spread throughout Spain, the Mediterranean and the Baltic States, arguably providing some of the basis for western banking principles. In the 1960s to the 1970s, Islamic banking resurfaced in the modern world.

This banking system is based on the principles of Islamic law, also referred to as Sharia law, and guided by Islamic economics. The two basic principles are the sharing of profit and loss and the prohibition of the collection and payment of interest by lenders and investors. Islamic banks neither charge nor pay interest in a conventional way where the payment of interest is set in advance and viewed as the predetermined price of credit or the reward for money deposited. Islamic law accepts the capital reward for loan providers only on a profit- and loss-sharing basis, working on the principle of variable return connected to the actual productivity and performances of the financed project and the real economy. Another important aspect is its entrepreneurial feature. The system is focused not only on financial expansion but also on physical expansion of economic production and services. In practice, there is a higher concentrated on investment activities such as equity financing, trade financing and real estate investments. Since this system of banking is grounded in Islamic principles, all the undertakings of the banks follow Islamic morals. Therefore, it could be said that financial transactions within Islamic banking are a culturally distinct form of ethical investing. For example, investments involving alcohol, gambling, pork, etc. are prohibited.

For the last four decades, the Islamic banking system has experienced a tremendous evolution from a small niche visible only in Islamic countries to a profitable, dynamic and resilient competitor at an international level. Their size around the world was estimated to be close to $850 billion at the end of 2008 and is expected to grow by around 15 percent annually. While system of banking remains the main component of the Islamic financial system, the other elements, such as Takaful (Islamic insurance companies), mutual funds and Sukuk (Islamic bonds and financial certificates), have witnessed strong global growth, too. Per a reliable estimate, the Islamic financial industry now amounts to over $1 trillion. Moreover, the opportunity for growth in this sector is considerable. It is estimated that the system could double in size within a decade if the past performances are continued in the future.

News : Is It Possible to File For Bankruptcy For Free

The short answer is “Yes,” it is possible to file for bankruptcy for free, which means, at no cost to the filer. First, the costs of filing for bankruptcy include the court’s filing fee, which currently is $335.00 for a Chapter 7 case, and $310.0 for a Chapter 13 case. These are the mandatory court filing fees, however, they can be waived.

In order to obtain a fee waiver of the bankruptcy court’s filing fees, at least here in the Central District of California, in some situations, the court may approve a filing fee to be paid in installments or waived completely. Note that if an installment payment plan is approved, the payment schedule must be complied with or the bankruptcy case may be dismissed without the debtor obtaining a discharge of debts.

Chapter 13 Petition Package – In chapter 13 bankruptcy cases, it is generally not allowed to have a filing fee waived or to pay in installments. The purpose of chapter 13 is to keep current with payments, and therefore if the filing fee is not affordable, the court will question a debtor’s ability to succeed in a chapter 13 case. There is a 99{0ef4929820f167e8f8519b00d9326892f772d73dd41cde984d23145009372787} fail rate in Chapter 13 without an attorney, due to the complexity of a repayment plan case.

Chapter 11 Petition Package – In chapter 11 bankruptcy cases, fee waivers or installment payments usually are not allowed. Here, as in Chapter 13, filing without a bankruptcy attorney will doom your case to failure, again, due to the complex nature of these cases.

Chapter 7 Petition Package – If a debtor files a chapter 7 bankruptcy case and the debtor’s income is less than 150{0ef4929820f167e8f8519b00d9326892f772d73dd41cde984d23145009372787} above the federal H.H.S Poverty Guidelines (which varies depending on your family size), the court may waive the filing fee completely or approve payments in installments. The debtor must make a written request to the court and submit the request at the Clerk’s Office intake window at the time the bankruptcy petition is filed. The intake staff will contact the judge to whom the bankruptcy case is assigned, and the judge will make a decision as soon as is possible. This may require the debtor to wait at the courthouse for a few hours if the judge is not available right away, or the debtor may have to return on the next day that the court is open. Even if the court does not waive the filing fee, the court may allow a debtor to pay the filing fee in installments.

My understanding of the fee waiver program in our courts is the judge’s position in deciding whether to waive the fee is this: You cannot obtain a fee waiver if you hire a professional to assist you in the petition preparation phase. I would agree with our courts that if you can afford to hire even a petition preparer at their maximum allowed rate of $200.00, then you can certainly afford the $335.00 filing fee.

In addition to the court’s filing fee, there are two credit counseling courses that are required. You can usually obtain a fee waiver, if you are eligible as low-income. You’ll have to ask for it, but this too, is possible.

After that, the only additional costs are incurred, if you hire either a petition preparer that is not a lawyer, or if you hire an attorney to represent you in your bankruptcy case. Now, don’t get me wrong, attorney assisted bankruptcy filings tend to run much smoother than a case prepared without one, but that doesn’t mean that it’s impossible.

Someone looking to save money when filing bankruptcy, needs to consider whether they have anything to lose by doing it this way. Simply put, in Chapter 7 bankruptcy, the trustee’s job is to look for assets to take, to pay your creditors. If you have assets to protect, and you’re not familiar with how to properly protect that from the trustee’s taking, then, it would be wise to hire an attorney.

However, if you’re truly low-income, and have no assets to protect, then, you are a prime candidate to file bankruptcy on your own and obtain waivers for the filing and counseling courses fees. In fact, here in the Central District of California, we just changed our forms, in the hopes to make it more simple to file. We also have electronic self-representation ( ESR ) too, so you can handle all of this from the comfort of your home and file bankruptcy from your computer. As if that weren’t enough, there are also self-help videos and a self-help desk in most of our courthouses.

So, if you’ve got nothing to lose but time, then preparing your own bankruptcy case can save you money. It may even turn out better than if you shopped for the cheapest bankruptcy lawyer, paid them, and they messed up your bankruptcy case. Never fear, if you get into trouble, or if you encounter a unhappy trustee that asks you questions, or recommends you consult with an attorney, we’re still here to assist and correct the record; for a fee.

The Law Office of Christine A. Kingston is a Federal Debt Relief Agency. We help people file for bankruptcy under the Bankruptcy Code. Our practice is limited to Chapter 13 and Chapter 7 bankruptcies, student loans and debt settlement.

Some Tips on Improving Your Finances for Life

There is no way to avoid dealing with money and finances these days. Therefore you should try to learn as much as possible to help you make good financial decisions and to increase your confidence about money.

When you make a budget, it should be realistic regarding your income and spending habits. Be sure to include all of your income such as alimony, child support, rental income, or any other. Always use your net income not your gross earnings in these calculations. Once you have the numbers, you can consider how to adjust your spending to stay within your income range. To maintain your budget never exceed your incoming cash flow.

The next step is to total up your expenses, and you should make a list of all monthly expenses. Your list should document each and every expense that you have whether it expense, spontaneous or just a one time expense. Remember that this list needs to have a complete breakdown of your costs. Be sure to add in expenses that you have from restaurant dinners and fast food as well as grocery bills. Reduce expenses linked to your cars, such as gas and insurance. If you have payments that you make quarterly or less frequently, divide them up to reflect a monthly payment. Make sure you include incidental expenses, for instance, baby sitters or storage unit rentals. Try to have the most accurate list possible.

Now that you have a good idea of your income and expenditures, you can start planning a new budget. Look at each expenditure on your list, and decide what you could do without. If you normally buy coffee from a cafe, calculate how much money you would save on a weekly basis if you bought it from McDonald’s instead, or made it at home. Exactly what and how much you are willing to compromise is completely up to you. The first step is identifying expenses that are not necessary so you can use the money for something else.

If your utility bills are rising, you may want to upgrade your appliances to save some money. Upgrading to well-fitted double-glazed windows, for example, can reduce your heating bill dramatically. Besides you can repair any leaky pipes and only run the dishwasher with a full load.

Swap old, inefficient appliances for those that use less energy. Although doing so may cost you some money upfront, over the long-term you will save a fair penny on your utility bills. Unplug the appliances you do not need. In time you will notice significant savings in your energy consumption.

You can make a significant decrease in your heating and cooling bills by improving your insulation, as well as the roof above it. Insulation or roofing issues can be very costly, as maintaining a regular temperature in the home can be expensive. If you invest in the upgrades, it will save you a lot of money in the long run.

Using these tips not only saves you money, but it also helps you start bringing your budget under control. An expensive upgrade can save a lot of money in lowering electricity or water bills. This is one way that you can make your budget more reliable.

Some Opportunity to Learn More About the World of Finance

In a typical college business program, you will explore many of the fundamentals of the world of finance. There are some great opportunities though to get some hands on experience. One of the best is through the Goldman Sachs summer internship program. You will learn from experts in the industry. You don’t just shadow them, you work beside them!

Make sure you pay close attention to the deadline for the application. It is earlier than many of the other internship programs offered. If you send it in late, your information won’t be reviewed. If you wait too long to start getting it all together, you may be stressed and make mistakes along the way.

Who can Apply?

Individuals enrolled in an accredited business school who will be a junior or senior can apply for a Goldman Sachs summer internship. It doesn’t matter what your particular area of study happens to be as long as it is business related in some capacity. Applicants must be in good standing academically, show community involvement, and show an interest in business.

The application process does take time so don’t drag your feet getting started. You will need to complete all sections of the application to be considered. You also need an extraordinary resume and cover letter to accompany it. Make sure your application isn’t going to get lost in the shuffle because it sounds too similar to others submitted.

This is your opportunity to shine so don’t be shy about sharing your accomplishments. To get a Goldman Sachs summer internship, you need to share your education and work experience. You need to share your skills and your community involvement. They are looking for well-rounded individuals who are inspired and motivated to make a difference in the business world.

Learning

The Goldman Sachs summer internship is offered for a period of 10 weeks. Individuals will typically work Monday through Friday for a full shift. The first part of the learning is an orientation and overview of their business operations. Next, you will be assigned to a division where you will meet other people who work there.

You will be assigned various tasks to complete so you can learn first-hand about those aspects of a business. You will have others helping you with work tasks and those you can turn to for questions. Your work will be evaluated so you can understand what you are doing well and what you need to work on with future projects.

The goal is to help your grow your knowledge and skills in various areas of business operations. That growth will occur over the span of your Goldman Sachs summer internship. This is also a prime opportunity for you to explore various aspects of the business world that interest you. Asking questions and getting insider facts and opinions can help you to determine your path.

Future Job Offers

This Goldman Sachs summer internship could be your foot in the door to a great entry level position upon graduation. The company is known for frequently making such job offers to those who show exceptional potential during the summer program. You can also decide to apply with the company in the future for a job opening.

The fact that you were once part of their summer intern program isn’t going to go unnoticed. It can help you to stand apart from other people applying for that same position. Being able to secure a job with such a remarkable company can be a dream come true!

Info Fully Maintained Novated Lease Vs Non-Maintained Novated Lease

Novated lease is considered as a financially productive way in securing yourself your dream car. There are two types of novated lease. A fully maintained lease and a non-maintained lease. Both leasing options allows you to get the car that you want through salary sacrifice and with tax benefits. However, one is more financially rewarding compared to the other. Let us differentiate the two through this article.

What is a fully maintained lease?

Fully maintained novated leases were designed with an easy life for a driver in mind. In this contract, a pre-determined amount is deducted from your wages before tax in each pay cycle to cover for the lease expense as well as the operating cost of your vehicle as well as any FBT payable.

The operating expenses that is included in your lease pay is reviewed in regular intervals to be able to be in a balanced amount. If your vehicle is costing more to operate than expected, you will be expected to add a top-up on your leasing account to meet the shortfall. On the other hand, if what is being deducted to your salary as operating expense exceeds your actual expenses, you will be reimbursed with the excess funds.

A fully lease also includes several day-to-day inclusions that can help you save more in the process.

You can basically fill up with a fuel card. Simply presenting your card to participating service stations allows you to quickly purchase fuel without having to shell out cash from your pocket.

You can call for help through a 24-hour roadside assistance to help you in case of a dead battery, flat tire or even something more serious.
High maintenance anxiety can be avoided. Maintenance of your car is paid from the funds that already deposited into your salary packaging account that ensures you to receive pre-negotiated discounts on labor and parts costs that are in line with the manufacturer’s recommendation.

Life becomes even easier with a fully maintained novated lease.

What is a non-maintained lease?

Meanwhile on a non-maintained novated lease, a pre-determined amount is being deducted from the wages each pay cycle to cover for the least costs of your vehicle and any other FBT payable. Compared to a fully-maintained novated lease, you only pay for service and maintenance costs only when they occur. This plan allows you to enjoy tax benefits while paying for your car, through salary packaging, while giving you full control of your service fee, maintenance and other operating expenses.

Now Consider While Selecting a Financial Planner

Unlike someone calling himself a CPA or a physician, just about anyone can call himself a “financial planner” or a “financial advisor” regardless of their educational background and professional experience. Moreover, not all of them are unbiased in their advice and not all of them always act in their clients’ best interests.

To ensure your financial planner is well-qualified in personal finances and impartial in his advice, consider the following five things:

1. Planning Credentials: Having a highly-regarded credential in financial planning, such as Certified Financial Planner (CFP) or Personal Financial Specialist (PFS), confirms that the professional you intend to work with has acquired the education and experience necessary to serve as a financial planner. CFP and PFS credentials are awarded to only those individuals who have met the certification requirements of education and experience in planning for personal finances. In addition, they have to pass the certification examinations and agree adhere to the practice standards and continuing education requirements.

2. Subject Matter Expertise: Financial planners are planning professionals, not necessarily subject matter experts. For example, a financial planner will be skilled in tax analysis and planning,but unlike a Certified Public Account (CPA) or an IRS Enrolled Agent (EA) he might not necessarily be a subject matter expert when it comes to tax rules Similarly,a he could be skilled in chalking out an investment plan, but unlike a Chartered Financial Analyst (CFA) he may not be an authority in the subject of investments. Work with a financial planner who is also a subject matter expert in those areas of personal finance that are important in achieving your financial goals.

3. Client Specialization: Not all financial planners serve all types of clients. Most specialize in serving only certain types of clients with specific profiles. For example, a personal planner may build his expertise and customize his services to serve only those individuals and families who are in certain professions, or a particular stage of life with specific financial goals and net worth. Ask whether the planner specializes in serving only certain types of clients with specific profiles to determine whether he is the right fit for your situation and financial goals.

4. Fee structure: The fee structure largely determines whose interests he serves best – his client’s or his own. A Fee-Only professional charges only fees for their advice whereas a Fee-Based professional not only charges fees but also earns commissions, referral fees and other financial incentives on the products and solutions they recommend for you. Consequently, the advice from a fee-only one is more likely to be unbiased and in your best interests than the advice from a fee-based financial planner. Work with a professional whose fee structure is conflict-free and aligned to benefit you.

5. Availability: He or she should be regularly available, attentive, and accessible to you. Ask the planner how many clients he currently serves and the maximum number of clients he is planning to serve in the future regularly. This clients-to-planner ratio is one of the key factors in assessing your planner’s availability to you in the future. Also, ask which planning activities are typically performed by the planner and which ones are delegated to a para planner or other junior staff members. Lastly, make sure the planner is easily accessible via phone and email during normal business hours.

Once you have shortlisted a few well-qualified and unbiased financial planners in your local area, consult the ones who offer a FREE initial consultation first. During the initial consultation, assess the planner’s availability and any other professional attributes you are seeking in your financial planner.

Having a well-qualified and unbiased financial planner by your side is extremely important in your journey towards your financial goals. When searching for one, consider the planner’s professional credentials, client specialization, subject matter expertise, fee structure, and availability to select the right financial planner for your needs.

Now Enjoy Debt Relief With Help From Bankruptcy Attorney

Financial hardships can force you to declare bankruptcy as an easier way of working around them. However, it is a process that can be very complicated and you will need the assistance of a bankruptcy lawyer to file and do everything right. Generally there are commercial bankruptcy attorneys that help with filing for business and consumer bankruptcy attorneys who file for individuals. In a commercial setting, your business gets protection from creditors whereas in the consumer setting you or your spouse gets protection from creditors and dealing with clearing the debt or setting payment plans.

When to get an attorney

One of the best steps you can make when you are facing financial hardships is accepting that there is a problem and actually taking the right step in dealing with it. Inability to pay bills, bounced checks, lack of flow cash, constant creditor and debt collector calls, debt that keeps piling up and being unsure how to handle the situation are some of the signs that you need to get yourself or your business a bankruptcy attorney.

As a struggling business, your lawyer will be able to help you get time to restructure the business and reorganize debts or in worse situations close the business. On a personal level, the lawyer will get you a fresh financial start by sacrificing some of your assets or you can reorganize debts and negotiate payments plans with your creditors if you want to repay the debts.

What to expect from the attorney

1. A bankruptcy attorney will offer you competent legal advice. They will not only advise whether declaring bankruptcy is the best way to go, but also help you with filling in the right category and advice on the best ways to use bankruptcy to achieve the financial goals that you have. As part of the advice, your lawyer will also prepare you for the process, make it as easy as possible and even share risks or possible difficulties.

2. The attorney will have the ability to handle your bankruptcy. Familiarity with federal laws on bankruptcy, local court procedures and rules and even bankruptcy trustees within your area will make the process easy for your lawyer. To enjoy this you however must ensure that you choose a lawyer who has the necessary skills and experience to handle your type of case.

3. Handling of all bankruptcy paperwork. Lengthy form packets are inevitable in a bankruptcy case, but fortunately the filing is something your attorney will do for you. The attorneys have specialized software that makes it easy for them to prepare, file required paperwork with the courts. All you will need to do is provide your attorney with all information needed to fill the forms like assets, debts, income and expenses.

4. Representation at the hearings. Bankruptcy cases can have a number of hearings. Whereas you may be required to attend the meeting of creditors hearing, your attorney can represent you in any additional hearings. This representation saves you the anguish that comes with the cases.

Tips Easy Way For Borrow Money in India As a National

If you are an Indian national and have never borrowed money from a lender before, you might feel confused and intimidated by the prospect. The younger generations at least can easily begin to do this online, since they are more familiar with the virtual environment. The online opportunities are far more varied.

Why apply for loans online
First of all, it is extremely easy and fast. It only takes minutes to provide the lender the needed information and submit your application. Then, you need to wait to be approved, but with certain lenders that can be instant. The third and final stage is when the money is deposited straight into the borrower’s bank account. The entire process is automated, so the borrower does not have to meet any person in order to obtain the loan. Personal or business loans can be obtained on the Internet through the peer-to-peer lending system.

The kind of loans one can apply for
In India, it is possible to apply online for short or long term loans. The money obtained this way can be used for various purposes, such as marriage, education, car, land or home purchase and so on. Loans generally start at Rs. 10,000. Make sure to pay maximum attention when you agree on the repayments period – you must make sure you can make repayments as promised.

Eligibility criteria
To obtain a loan online without any hassle, just make sure you follow the guidelines. Also, you need to meet the eligibility criteria. Before applying, the individual needs to gather all the documents required. The PAN card will usually be necessary, as well as Aadhar card. The client must provide an address proof. The electricity bills required are not always a substitute for this proof of address. As soon as all the documents are gathered, the client should scan these and send the copies online in the provided form. Lenders require to see each client’s credit score before they decide whether to approve the loan or not. In addition, borrowers definitely need to have a valid bank account, so the money can be delivered. Nationality and residency are also important matters here. Applicants need to make proof of their Indian nationality.

How the Aadhar card helps
Having an Aadhar card can help you obtain a loan on fair terms. The purpose of the project involving it was to secure everyone’s social identity permanently. A card with a unique identification number holding biometric data can easily and accurately provide proof of identity and residency. It’s the perfect solution for today’s technological advancements that have also made quick online loans possible.

While an Aadhar card isn’t mandatory yet, it can make the entire loan application process a lot easier.