Recently I received a query from one of the readers of my blog Mr. A regarding personal loan eligibility. He asked me that he is in an urgent need of money but the bank is not willing to lend the desired amount. As I shared in my other posts related to a loan that loan eligibility depends on multiple factors. There are 2 types of factors i.e. direct factors and indirect factors. Let's accept the fact that only direct factors are in the control of a borrower whereas for indirect factors you can't do much. Some readers asked me what these indirect factors are. One of the indirect factors is the ... Read More
How To Get Short Term Loan At Zero Percent Interest Rate
Short Term Loan is very common in the western world. These are popularly known as payday loans. Though both are technically not the same. The reason I referred both of them is that borrower pay or clear the same once he/she receives next salary. In banking parlance, a loan of up to 1-year tenure is referred as short term loan. You can also refer it as a cash advance. "What's in a name?" if you need a loan for short term max up to 52 days at zero percent interest rate then this post is for you. Even in 80's and 90's, the concept of the short term loan was popular but those days, the common ... Read More
Buy Property And Double Your Investment – Do You Really Believe
Are you planning to buy property? Buy property in a project A or project Z to double your investment in 18/24 months. I am not suggesting you buy property in these projects but sharing excerpts of a pamphlet on my doorstep. Coincidentally, the same day two readers of this blog posted a query wherein they were trapped in a similar scheme. I tried to find out more about these schemes and thought of sharing my findings with the readers of this blog. Firstly, let me ask honestly do you really think that someone can double your investment in just 18 months or 24 months. If the answer is NO then i ... Read More
When is the BEST Time To Shop To Get Discounts and Great Deals
A few years back, the board of SALE was rare outside retail stores. In recent times, i observed that retail store owners have permanently FIXED the board of SALE outside the store. The discounts offered under the sale are mostly fake. I shared my personal experience of one such sale in my post, The real truth behind the sale. The higher the discounts offered, the higher is the probability of sale. But always remember that there are NO FREE lunches in this world. In past, i have shared posts cautioning buyers on the pricing and tricks associated with the same. You may check following ... Read More
How Credit Card Companies Make Money or Earn Profit
Recently one of the new age private banks forays into the credit card business. One of my clients asked me why we have so many credit card companies. The reason being, it becomes more difficult to select the right credit card. In India, only banks can offer a credit card. Here by credit card companies i mean banks including their partners, marketing agencies, sales agents etc. From bird's eye view, it is a charitable business. A bank issues a credit card to the customer. Customer use the card and bank provide temporary credit. Customer pays the bill and that's it. Prima facie the only source ... Read More
7 Tricks How Banks Make You Spend More On Your Credit Cards
Credit Cards are both boom and doom for a user. The scenario depends on how good a user is in debt or credit management. I using credit cards from last 12 years and i have never defaulted on bill payments of the credit cards. I am not saying that i am the BEST in debt management but i learned fast from my initial mistakes. Once i knew the tricks of the trade i turned, credit cards to my advantage. I shared some of these tricks in my posts, Credit Card - Save While You Spend and How to Use Credit Cards Smartly? Otherwise, credit cards can be a wealth destroyer. As a customer, i am playing ... Read More