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Prominent NBFCs/Banks Offering Gold Loan in India:

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Gold Loan in India

Gold Loan is a secured loan type where individuals can get financial assistance by pledging their gold as collateral. It will allow people to make use of their gold kept inside the locker and get funds for helping them during their financial crisis.

The funds which you receive can be used for any purposes like purchasing your dream home, paying off your current debts, or for your working capital investment. As per RBI guidelines, the loan amount which you will be sanctioned will depend on certain aspects.

Features of Gold Loan:

There are certain features which you should know before you opt for a gold loan like:
● Specific gold loan schemes are sanctioned only for some regions of the nation.
● When you fail to repay your loan, your gold ornaments will be auctioned.
● You can avail of a gold loan against physical gold ornaments including, gold coins. Both banks and NBFCs won’t give you a credit against gold ETF and gold bonds.
● Repayment of the gold loan can be made in any branch of the financial institutions, irrespective of where you get your loan.
● When you pledge gold ornaments with metals, stones, and gems, then only the gold value will be calculated for the loan amount.

List of Top Banks/NBFCs Offering Gold Loan In India:

1. Shriram City Union Finance Gold Loan: Shriram City Union Finance offers gold loan schemes for borrowers. The tenure and the gold loan amount depends on the plan the individuals prefer to choose. The gold which you pledge as collateral will be safe and secured until you repay the loan. Some prominent features of Shriram City Gold Loan are:
○ The Gold Loan interest rate starts at as least as 6% till 20%, depending on the gold you pledge and the loan amount you choose.
○ There is a very minimal processing fee and prepayment fee.
○ The gold loan tenure is flexible.
○ You can get a customized repayment schedule for your gold loan.

2. Muthoot Gold Loan: Muthoot Finance offers many gold loan schemes. You can choose the tenure and amount of loan you want, depending on your financial situation. Your gold items will be safe. Here are certain features of Muthoot gold loan:
○ Allows partial repayment.
○ You can avail of a minimum of Rs.1,500 with no maximum limit on gold loan.
○ Prepayment can be done without any penalty.

3. HDFC Gold Loan: HFDC bank offers a gold loan with the scheme “Sampoorna Bharaosa Gold Loan” for their borrowers. This special scheme offers and interest rates for existing account holders of the bank. HDFC bank offers a gold loan with features as below:
○ HDFC gold loan charges 1.5% plus GST as a processing fee.
○ Women customers have special and lower interest rates.
○ When you foreclose your account within three months, then you should pay foreclosure charges of 2% plus additional GST.

4. ICICI Gold Loan: If your age is between 18 to 70 years, you can opt for an ICICI bank gold loan and only when your gold purity is above 18 karats. The loan is easy to approve and gets disbursed instantly. Gold loan features for ICICI are:
○ Customers should pay 1% of the loan amount as the processing fee.
○ You should also pay 6% per year when you pay dues after the particular due date.

5. Canara Bank Gold Loan: Canara bank provides gold loan under a scheme named “Swarna Loan” with which when you pledge your gold ornaments and have an account in the bank you will be submitted with the loan. The main features of this gold loan are:
○ The interest rate varies depending on the loan amount you choose. When you get a loan up to Rs.5 lakh, then your interest rate will be 9.85% whereas when it’s above that, it will be 9.95%.
○ Appraising charges for the jewel, a document regarding the gold valuation given by a jeweler should all be provided to the provider.
○ The minimum and maximum amount of the loan which you can avail will range from Rs.1,000 to no maximum.

6. Axis Bank Gold Loan: When you are between the age of 18 to 75 years, and you have any gold jewelry which is above 18 karats, then you can avail of a loan. The axis bank gold loan offers features like:
○ The minimum loan amount you can get is Rs.25,001.
○ This loan type comes with flexible repayment options like monthly EMIs, paying loan amounts, and interest together at the loan end.
○ No part payment charges during the loan tenure.
○ You will have to pay 1% of the loan amount as a processing fee.

7. Manappuram Gold Loan: Manappuram Finances provides you higher loan to value ratio for those who want to avail maximum loan amount against their pledged gold. The main features are:
○ There is no bank account need for a transaction less than Rs.1 lakh.
○ No prepayment penalty when you repay your loan before the tenure end.
○ Don’t have any minimum or maximum lock-in period.

8. Federal Bank Gold Loan: An individual can get a gold loan from the federal bank for personal, business, or agri purposes when you give them a gold purity of 22 karats.
○ You can get a loan amount as less as Rs.1000 to a maximum of Rs.150 lakhs.
○ You can get a loan amount which is 82% of the market price of the gold for Agri purposes and 75% for other purposes.

9. Bank Of Baroda Gold Loan: Bank of Baroda provides gold loan for both priority and non-priority sectors when you are pledging gold of purity 18 karats
○ There are no prepayment / preclosure charges for your gold loan.
○ No processing fee for a gold loan up to Rs.3 lakh when taken for agriculture purposes.

10. SBI Gold Loan: SBI offers a gold loan when you have a steady income. It has loans specifically for SBI housing loans and when you are into agriculture.
○ The minimum loan amount you can get is Rs.20,000 to up to Rs.20 lakhs.
○ You will pay up to 0.50% of the loan amount as processing fees for the loan.

BUSINESS

STEP BY STEP GUIDE FOR MILLENNIALS TO BUY FIRST RENTAL PROPERTY From Ligon Brothers

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Ligon Brothers

As a millennial, have you ever thought about investing in rental property but don’t have a clue from where to take a start? If the answer to this question is yes, then don’t worry the Ligon Brothers will guide you to buy your first rental property. The Ligon Brothers, Michael, and David Ligon are seasoned Real Estate Investors and own one of South Florida’s most profitable real estate investment firms.

The Ligon Brothers provide a step by step guide for millennials to buy their first rental property. This guide is about how to prepare and save up for the first rental investment.

The first step is to establish your spending and saving habits. If you want to become a rental investor, you should know how to manage your money. If you embody a frugal lifestyle, it will be easy for you to afford your first rental property. Take a start by tracking your budget, and watching your spending.

The next step is to discuss your investment ideas with your family/spouse. To discuss rental investing, start by having budgeting meetings with your partner. You should teach your children and family members about money and spending. You can also discuss your retirement goals with your partner.

Once you decide to invest, the next step is to understand your current financial situation. It is crucial to know about your net worth so that you can plan accordingly. If you do it right, you will be able to watch your spending, learn about your cash flow, and prepare for your financial journey.

The fourth step is to get rid of your debt first. You should consider how much debt will be added when you begin investing in rental properties. If you already have debts to pay, you can minimize future stress by paying off your small debts. To reduce debt, you can use either a debt snowball method or the debt avalanche method.

The next step is to tackle your student loans. As a millennial, you may have student loans to pay. Before investing in rental properties, you should establish a plan to get rid of your student loans. If you plan well, you can even pay off your loans from rental properties.

The sixth step is to understand the market. You should learn important topics about rental investing. To learn about rental investing start attending open houses. You can also find a realtor in the open houses. Once you learn about rental investing, you will look at a home-like an inspector.

Ligon Brothers

The last step is to research and learn to become a successful rental investor. Learning will increase your chances to buy perfect properties, make good financial decisions, and build your wealth. You can educate yourself through books, podcasts, and taking courses.

The above-mentioned guide by the Ligon Brothers is a pathway for millennials to start rental investment. A millennial must follow these steps to succeed in becoming a successful rental investor.

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Top 5 Benefits of Digital Advertising for Small Businesses

Umar Nisar

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Top 5 Benefits of Digital Advertising for Small Businesses

Digital campaigns can be a boon if you want to boost up your visibility and drive sales of your brand. There’s a large number of audience online that small businesses can tap into. For that, your need to align your online marketing campaign with your goals.

All the small businesses start with a single goal in the mind, i.e. growth. To make more and more people aware of their brand and increase their sales. And with the right online advertising strategy, you can set your business to a completely new level of growth.

In this article, we will look at the top 5 benefits of digital advertising for small businesses that include these campaigns in their marketing strategy.

1. Cost-effective

Digital advertising is really cost-effective, especially when compared to its alternate counterpart, traditional or offline advertising. For small businesses, budget is a big factor when it comes to marketing their products or services. Since they are on a limited budget, they need to be more careful about where they are going to spend their money.

Hire a professional graphic designer if you want your ads to look cool and branded. If you want to go on an extra mile, you should consider hiring Dignitas Digital, a full-service digital agency in Philadelphia, to help you with your digital advertising campaigns.

2. Highly Targeted

With digital advertising, you will have absolute control over who sees your ads as well as where you are spending your money. Since they are highly targeted, you can make sure that your ads are seen by only interested people.

With keywords that are relevant to your specific services, you can target users within a certain age group to buy your products or services. You can go further by adding more specifications, such as location, interest, etc. With digital advertising, you will have more power to turn your target audience into potential customers.

3. Easy Tracking

Digital advertising is easy to layout and track. If you want to gain insights about your ad campaigns, you can do that easily by going through your digital ad campaign. You can easily measure all the key aspects of your ad campaign by going through the analytics.

For example, if you want to measure the success rate of your email newsletters, you can track how many of the people, who are receiving the newsletters, are actually opening it and taking action based on that.

4. Fast and Effective

One of the key advantages of digital advertising is that they offer fast and effective results, which cannot be said about its counterpart, traditional advertising. It requires much less turnaround time to plan and execute digital campaigns than the traditional ones.

Apart from that, going digital gives you the option to make changes in your campaign quickly whenever you need it. For small businesses and companies, time is an important commodity and having the power to save it gives opportunities to get good ROI.

5. Easy to Update

Since digital advertising is easy to keep track of, they are also easy to update. Whether you need to make any major or minor changes, you will have the flexibility to make it happen easily. With traditional ad campaigns, you cannot make such advancements.

Suppose you want to make changes in your ad copy the next day you publish it. You can update your copy by just going through your ad platform. While, in traditional copies, you will need to double or triple check your copy before you publish it since you cannot make quick changes afterward.

Final Thoughts

Digital advertising has plenty of benefits over its traditional counterparts. But there’s no secret formula for digital marketing campaign that works right every time. Having the experience, insights, and vision laid out in the right strategy can surely pay off in digital advertising for small businesses.

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How MSPs Can Assist Clients During COVID-19

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MSPs Assist Clients During COVID-19

MSPs Can Assist Clients During COVID-19

COVID-19 helps to create confusion everywhere in the world. Controlled MSPs are frustrated by the long list of tasks they need to do to maintain their company and industry running properly with their customers.

In a matter of a few seconds, the situation has transformed but there is positive news. MSPs are in a rare role to be seen as an integral part of the activities of their customers.

During these moments it is not just your customers that you should please. While some businesses fail to adapt to the modern standard, others thrive. If the MSP represents one of those vertical markets, you now have an opportunity to double and convince other businesses that the company has what it takes to keep them going regardless of what the world is tossing at them.

There are just some few things to keep a note on in order to be able to outlast the MSP to survive the COVID-19 pandemic to the financial recession.

Rapid Processing Times

Where a current or future client needs emergency IT assistance, MSPs need to be able to answer the call. Because of a branch closure, when a former customer reached out to MSPs that needed on-site IT support to decommission equipment, MSPs have been able to continue providing two techs the very following day. Most consumers are looking for this form of versatility right now because their needs are continuously evolving.

Maintain Cash Flow

Many of the companies are fortunate enough to have a distributed workforce to start operations. Some were forced to significantly limit or close down activities entirely. This is a special type of obstacle. Another that as an MSP user holds you awake at night. Your income streams are increasingly drying up, and you need to have a better look at your accounting and cash flow control.

Forego Long-Term Contracts

Potential consumers may need to help but don’t want to be tied into a long-term deal or investment. Likewise, current consumers can only need to connect to the offerings for the duration of the COVID-19 crisis. Without long-term contracts, MSPs are here to offer IT assistance and provide clients the tools they need – where they need them – and support their company going forward.

Making Interaction Better

During these pandemic MSPs will concentrate on the consumer experience. Be compassionate and empathic with challenges that customers encounter, and let any conversation get them closer to their IT goals and have a positive effect on their market.

Professional Services

Although we have a growing number of employees out of work as a result of COVID-19, many businesses do operate and continue to position talent in a wide variety of positions, like IT.

Keep spending time in talent interviews and nominating customer candidates. Providing a combination of work, work-to-hire, and direct recruitment services would make sure that during that period they can find the best IT solution for their needs.

Managing Remote Workforce

To MSPs and their customers, one of the greatest shifts has been the transition to remote work. Upon the drop of a hat, government lockdowns and social distancing compelled companies to turn to dispersed workers. You remember, as an MSP, that’s put a burden on the staff and activities.

In the weeks or months just before the epidemic, a couple of the customers may have been trying remote work out. For everything moving all at once, you need to double your capacity from everywhere to benefit your clients and your own labor force. So it looks like this worldwide home project research will in the future lead to a continuing rise in more distant research.

Conclusion

COVID-19 continues to generate chaos everywhere in the world. Managed service providers feel overwhelmed by the amount of effort they need to maintain their company running properly, and by the companies of their customers.

There is positive news because certain things have improved. Customers will now more than ever rely on technology to keep their company going. Using technology would allow them to simultaneous activities while retaining productivity and reduce costs.

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