Is insurance compulsory for an agricultural loan? What are its merits?

Agriculture is truly the backbone of our country's economy. Most of the people engaged in farming and agricultural related activities in India often struggle from a lack of sufficient funds. Loan against gold can be helpful to meet some of the immediate requirements of farmers if they have gold in the form of jewelry or other articles in their hands. The gold loan interest rate is also quite low because it is a secured loan. However, this loan wouldn’t be sufficient enough to meet all agricultural requirements. The best solution would be to apply for an agricultural loan. Banks, NBFCs and other financial institutions in India provide agricultural loans to people engaged in farming activities...
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What Is The Difference Between Secured And Unsecured Loans?

There are many reasons why you may need to borrow money- you may want to buy a house, there may be medical expenses to meet, you may want to send your child abroad to study. Borrowing money from friends and family may seem cheaper than taking a loan from the bank but this has the risk of spoiling relationships. So, when it comes to borrowing money, it’s always better to approach a bank. Loans can be broadly classified as secured and unsecured loans. Knowing the difference will help you choose the loan best suited to your needs...
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What documents would I need for my business loan application? What are its benefits?

Several businesses that are well established and have succeeded in building a brand name had their humble beginnings in the past. Most of them started with just enough funds. However, these funds weren't always sufficient to expand their operations. This means they’ve had to look elsewhere to get extra funds to expand their business activities and to become established in their respective fields. Who gave them the funds required? The Banks. Most the people approach a bank for a loan whenever they require some extra funds. People usually take short term loans like a personal loan or a loan against gold to meet their immediate requirements. Gold loan interest rates are quite low because it's taken against gold in the form of jewelry or coins. However, if you are looking for a loan to expand your business you can apply for a business loan...
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How do you get a business loan in India?

A steady flow of cash is necessary for the growth and success of any business. Doesn’t matter if it is small or big, no business firm can survive without sufficient funds. The money that is raised in from the market or that is pooled in by the promoters of the business depends on the size of the business, its nature, and viability. Funds are much required especially during its growth stage. As the business matures the requirement for capital and working capital depreciates. Some people who have gold in the form of jewelry or coins takes a loan against gold to meet some of the requirements of funds in their business. Because this loan is secured the gold loan interest rates are quite low. However, not all requirements can be met using a gold loan all the time...
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Why a good Gold Loan Calculator is a must-have on an NBFC website?

Gold loans are used by customers who are looking to get the most money they can at the lowest rate as fast as possible. Before the days of the Internet, people did not have a way to find out the relevant information and they just walked into the nearest branch of the most branded NBFC for the loan which they got at higher rates. During this era, brand image mattered the most and everything else came secondary. This has helped the biggest brands in the industry get the lion's share of the market. In the current age of Internet revolution which is getting accelerated by low mobile connectivity rate from telecom companies and JIO Fiber, all this is going to change. It wouldn’t take much effort for a customer to look up the best gold loan products on their mobile or internet televisions at home...
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Which bank is best to take an Education loan in India with minimum interest?

Education is expensive! It doesn’t matter if you are pursuing it in India or abroad. If you are looking for quality higher education you must be willing to pay a good amount as fees and other educational expenses. The best ways by which a student can pursue his/her dream without having to struggle financially is by applying for a scholarship or an educational loan. You can apply for an educational loan to do a course in India or abroad. Unless the student is employed his/her parents/guardian will have to be their guarantors to get an educational loan. You can consider taking a loan against gold if you have gold in the form of jewelry or coins. Gold loan interest rates are quite low compared to other loans like a personal loan...
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What is a mortgage loan and what are its advantages?

A mortgage loan refers to a loan granted by a bank/NBFC/financial agency /a lender to any person against his/her property through a legal contract. The property can be a house, a plot of land, or a commercial or personal real estate that is registered in that particular individual's name. Since the loan is secured against a property the bank/lender does not have to worry about losing their money if the individual fails to repay the loan amount. The property can be sold by the lender/bank to clear off the existing debts. A mortgage loan can also be taken against a newly bought property to pay off the cost of the property. This is referred to as liens against the property...
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How do i get an educational loan?

It is every parent's dream to give their children the best quality education available. However, the cost of education seems to be ever-increasing. Parents find it quite difficult to meet all the amount required to send their children for higher studies in recognised institutions within India and abroad. Most of the parents try to meet the amount required by taking a loan. Banks and other financial institutions provide loan against gold if you have gold in the form of jewelry, coins or other articles that can be kept as collateral security. The gold loan interest rate is quite low and these loans are quickly sanctioned. However, these amounts are not always sufficient to meet the entire costs of higher education most of the time...
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Personal loan 2019 Key benefits of prepayment and partial payment.

When you require some additional cash to meet expenses for buying a property, for marriage, buying a vehicle, for a vacation or an unexpected medical emergency you can think of applying for a personal loan through a bank or financial institution. Banks and NBFCs provide different kinds of loans including personal loans and loan against gold to meet immediate cash requirements. Gold loan interest rates are lesser since it is taken against collateral security. However, you get only up to 75%-85% of the total value of the gold you’ve given as security to the bank. A personal loan is a short term loan. Unlike a gold loan, these loans are provided to individuals taking into consideration their credit score and ability to pay off the loan. A high credit score and a good monthly income increase your chance to get the maximum loan amount possible at a minimum rate of interest. The paperwork and documentation required for this loan is minimum...
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How much time it will take my personal loan to get approved?

The quickest way to take care of an urgent requirement for extra funds is by applying for a personal loan. You might be wondering how long it would take to get this loan approved. Since this loan is unsecured the approval time might be longer than loan against gold. The time taken for the approval of personal loans varies from lender to lender. Depending on the type of lender you’ve chosen the approval time could be anywhere between a few minutes to a few weeks. While online lenders could sanction your loan in a few minutes, banks, NBFCs, and other financial organizations might require a few days or weeks to give their approval. Unlike the online lenders who use algorithms to process your loan application, banks and NBFCs rely on their staff to verify and process the loan application...
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