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Gold Loan Interest Calculator – Know How To Use

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There are times when there is a need for urgent funds. Reasons could be to give your home a small renovation or repay some debts off or pay off medical bills etc. It is during times like these that the extra gold laying in your locker can be the perfect means to cater to your financial requirements. The surplus gold in your locker can be used as a collateral to get a gold loan. Loan against gold are secured loans with an affordable rate of interest. It is an easy way to get instant cash without any hassle. It is quick and involves very little paperwork. There are a lot of other amazing features of gold loans that we are going to discuss later in this article. Gold loan interest calculators are available online to provide you with the precise figure of gold loan interest that you have to pay at the end of the gold loan tenure. This will help you compare and assess different interest rate schemes offered by multiple lenders letting you pick the gold loan scheme that best suits your needs.

Features of gold loan

There are a lot of interesting features when it comes to gold loans. Some of them have been discussed below.

Faster approval

Unlike personal loans, gold loans are secured loans. Secured loans are the one in which the applicant has to pledge some of his owned property as collateral for security. In case the individual fails to repay the loan, even within the grace period, the lender has the right to auction the individual’s collateral to get his sum back. Since the gold loans ask for pledging gold as collateral the lender is more than happy to approve the loan. Since the gold loan is secured, it requires less documentation and hence faster verification.

Avail gold loans irrespective of your credit score

The credit information bureau India ltd., also known as CIBIL in short, is responsible for assigning credit scores to an individual. CIBIL score is a three-digit score, ranging from 300-900, given to an individual based on his or her last 6 months of financial data. An individual with a good CIBIL score is considered to have financial stability in life and hence are preferred by the loan lender. Financial institutions use CIBIL as proof of credit behavior and sanction loans to borrowers with a good CIBIL score. Gold loans, on the other hand, are approved, even for applicants with a low CIBIL score since gold is already taken as collateral against the loan for security.

Less paperwork

Gold loans require very little paperwork. Since gold loans are secured loans it does not ask for the individual’s income proof or income tax return statements. The only requirements are some basic proofs of identities. This makes the verification process a lot easier and a lot faster than all other kinds of loans, making it the perfect option to go for when in urgent need of cash.

Affordable interest rates

Gold loans come with affordable rates which are much lower as compared to personal loans and others. Different lenders offer a varied scale of the rate of interest. A little bit of research on the lenders that are offering the lowest rate of interest can help you save some money. The rate of interest on gold loans can easily be calculated using a gold loan interest calculator. Let us look at how to use a gold loan interest rate calculator.

Using a gold loan interest calculator

Calculating gold loan interests and equated monthly instalments can be quite tricky. But do not worry since that is where a gold loan interest rate calculator swoops in to make your job a lot simpler and easier. Gold loan interest rate calculator programme is uploaded on multiple sites of gold loan lenders and hence can easily be found online. The user simply has to put the right inputs into the calculator to get the exact figure of gold loan interest that he or she is supposed to pay according to the terms and conditions of the particular gold loan scheme. Gold loan interest calculator comes with three fields that the user is supposed to fill which includes the loan amount, rate of interest and loan tenure. Follow these few simple steps while using a gold loan interest calculator.

->Compare the rate of interest offered by various lenders.

->Select the gold loan scheme with the lowest interest rate.

-> Select the gold loan amount and gold loan tenure according to your suitability.

-> Fill the three fields in the gold loan interest rate calculator and press on calculate.

This will give you an exact figure of the interest that you have to pay. It will also evaluate the exact amount of equated monthly instalments that you have to pay. This will help you to get a vivid idea of whether or not it will be feasible for you to repay the loan adhering to the terms and conditions of it.

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Finance

The Most Famous Antagonists That Played A Forex Trader In Movies

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The Most Famous Antagonists That Played A Forex Trader In Movies

It’s interesting how much we can find out about the world’s history through movies and mainly its economic side thanks to Wall Street, which has inspired the film industry since 1929 (yes!). It will continue to do so as we see significant technology changes, especially after the recession and rise of cryptos. But, let’s see who are the greatest antagonists in the movies we know and ones that should be on our movie list. Some are rather unexpected although they are playing forex traders, since the accent is on the other side of the personality, but is it that disconnected from their job? Is it a consequence of capitalism? Let’s see some top antagonists, who people either love or hate in the movies. 

The Wolf of Wall Street (1929) and The Wolf of Wall Street (2013)

Believe it or not, even though DiCaprio pushed for this film to be made and was impressed by Jordan Belfort’s story, there was another Wolf of the Wall Street called Jim Bradford, a world-class stock manipulator. The Academy Award-nominated George Bancroft played him. Imagine playing such an exciting role where, months before the market crash when the Great Depression started, portrayed the world of obscenity, madness, and manipulation to gain more and more. It’s important to mention the film had sound since it was still a new thing to have talking movies. 

Compared to Dicaprio’s role, there is not much difference if you tell apart different periods. The drive is the same – get more, earn more, be more recognizable and ultimately feel the consequences of this way of life. While Bradford is a real antagonist, Belfort doesn’t seem like that at first. Mostly since he redeemed himself in real life by still working, staying away from suspicious activities – it looks like he learned his lesson after losing almost everything he cherished. Even though we don’t look at Dicaprio’s role as antagonistic, we are witnessing someone with a simple drive leading a better life to become the antagonist in the end, even though he didn’t have bad intentions in the beginning. Is it what Wall Street can bring you if you get money too fast, and don’t process it? And how do you process becoming rich in such a short time?

2. Wall Street (1987)

Don’t worry, not every movie about the stock market has “Wall Street” in the title. This movie is essential antagonist-wise because it depicts the 80s excess where Gordon Gekko is the main antagonist ruthlessly running the corporate market. Charlie Sheen took on Gekko’s protegee Bud Fox’s role, and famous Michale Douglass plays Gekko. You can hate the character of Gekko since many real-life traders inspire him, but in the end, the industry is portrayed with a sentence that follows that kind of life, when Gekko says “If you want a friend, get a dog”. Nobody is your friend if you are working with money.

3. Boiler Room (2000)

Boiler Room is a must – watch a movie for every broker who’s just starting. The main character, Seth Davis, You will not come across a broker who hasn’t seen it or at least heard of it. The antagonist in the movie is the whole brokerage company that Giovanni Ribisi joins, after being busted for running an unlicensed casino. Even though his first job was quite sketchy, he quickly realized what he got into was far more sinister and robbed clients. This movie is based on real experiences. Since writer and director, Ben Younger interviewed many brokers to write the best screenplay he wanted. By the end of the movie, the question is, how far people are willing to go to secure their finances and what becomes too much?

4. American Psycho (2000)

The most famous antagonist where often people don’t even think about Patrick Bateman, played by Christian Bale is an investment banking executive. Yes, we see his “perfect” life and all the expensive things he owns, but we instead connect it with his psychopathic character rather than his job. As he descends into his madness led by his alter ego, in the end, we have to ask ourselves, what is this movie really about? It is still speculated by many is it merely someone with an illness represented in an unorthodox way. Still, maybe it’s another way to show how far people can go if their character is already prone to instability once they gain “everything that is wanted by many”.

5. Margin Call (2011)

Margin Call depicts a whole day before the 2008 financial crisis. There are many big stars in the movie from Kevin Spacey to Jeremy Irons and Zachary Quinto. The film was meant to show us, by the director’s words, the tragedy of lost potential and how manipulated a system can be. 

6. Arbitrage (2012)

Richard Gere was nominated for a Golden Globe Award thanks to his portrayal of Robert Miller, a hedge fund manager who goes on a trip trying to cover up his company’s frauds. He desperately tries to sell his company before everything gets revealed, but life gets in the way, and he becomes even more on the edge when unfortunate events unfold. 

In conclusion

What do you think? Is the case of antagonists in this line of job natural or bound to become one? Maybe it’s both? Where would you draw the line if you were in the same position?

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Use FD to Create an Emergency Fund and Secure Your Life

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The pandemic has made one thing clear – a health emergency can arrive any time and shatter the dreams of not only the affected but also a score of other people. To make things worse, a health emergency also comes with a financial emergency, and arranging funds becomes challenging, almost always. A financial crisis may also happen due to an unexpected job loss or a lack of demand in business.

With PNB Housing Finance FD, you do not need to spend sleepless nights anymore. If you save a part of your income every month, PNB Housing Finance’s high FD interest rates and easy withdrawal options, make sure that your emergency corpus is a click away when you need it urgently.

Here are the best features of an FD based emergency fund.

Withdraw Money Anytime You Wish To

As an emergency does not come with a warning, PNB Housing Finance FD comes with premature withdrawal option. You can withdraw money anytime you wish to, irrespective of the FD term. However, there is a mandatory lock-in period of three months, before which you cannot withdraw the amount. But, when you look at the high FD interest rates, this trade-off seems normal. Hence, it’s reasonably easy to get the FD-based emergency fund whenever the need arises.

High FD Interest Rates

When you avail an insurance policy, you pay for an indefinite period, and in most cases, the premium does not come back to you. Similarly, when you avail a loan or credit card, you may have to pay a high rate of interest. PNB Housing Finance FD, on the other hand, is a no-frills investment option, in which the money remains legally yours until the end of the deposit tenure, and it keeps generating money, only to come back to you when you require it.

PNB Housing offers industry-best Fixed Deposit interest rates which start from 5.90% for an FD of 12 months to 6.70% for a 120-months FD. If you choose the cumulative option, the tentative yield to maturity may go as high as 9.13% for a 120-months’ FD. Hence, unlike other options to get emergency funds, where you pay to get urgent money, PNB Housing Finance FD offers you an appreciation of your capital.

Now that you know how PNB Housing Finance FD can help you to create an emergency fund, it is the best time to explore ways how you can manage your finances to tide over an emergency.

  • Save every month – Make it a habit to keep a specific amount every month which you can use to invest in PNB Housing Finance FD and get high interest rates.
  • Cut Costs – While this does not mean you have to sacrifice your pleasures, you may sometimes regulate your spending and save money for the emergency fund. Let’s assume you drive your car to the office six days a week. You may try to avail public transport twice a week and contribute the amount for a worry-free future.
  • Use Windfall Gains to Increase Your Investments – At times, you may receive a lump sum from your office or existing investment. It is wise to spend a part of it and reinvest it to create a PNB Housing Finance FD.

Conclusion

Not having an emergency fund may worsen a financial crisis. The best time to start creating your emergency funds is now, and PNB Housing Finance’s high FD interest rates will do the rest.

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Know how to Login to the Income Tax Portal & File ITR in Easy Steps?

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The Government of India levies income tax on the earnings of the country’s citizens and non-resident Indians with a source of income in this country. For every financial year, individuals are also required to file their income tax returns within 31st August for the respective assessment year.

The procedure of income tax payment has now become more straightforward and hassle-free with the introduction of the online process. The income tax India login portal will help you to pay your taxes online without depending on any third-party.

How to register and log in to the income tax portal?

Before paying your income tax, you need to complete the online registration process. Following is a step-by-step guide to help taxpayers complete their registration for income tax login in India and return filing –

  • First, visit the official website of the Income Tax Department of India.
  • On its homepage, you will find an option ‘Register Yourself’. Click on it to begin this process.
  • At the beginning of this registration process, you need to select the user type from a drop-down available.
  • Enter the necessary details like PAN, name, date of birth, etc.
  • Duly fill in the registration form with other essential details and password.
  • Once this process is complete, you will receive a six-digit OTP. Enter it to verify the details provided.

A point to note here is that your PAN will be your user ID. So, there is no need to create a separate username for your account.

The process of income tax e-filing

The process of e-filling of an income tax return includes the following steps –

  • At first, visit the portal of income tax e-filling.
  • Next, log in to this portal via user ID (PAN), password, and captcha.
  • Now, click on ‘e-File’ and then on ‘Income Tax Return’.
  • After that, select assessment year, ITR form number, filling type (original or revised return), and then choose the ‘submission mode’.
  • Click on ‘continue’.
  • Following that, fill up the applicable and mandatory boxes on the online ITR Form, and make sure to read the instructions carefully.
  • Then, select the adequate verification process under the ‘Taxes Paid and Verification’ tab.
  • Now, verify the ITR information by clicking on ‘Preview and Submit’.
  • Submit the income tax return.
  • Use the OTP sent to your mobile phone to complete verification and conclude the process.

Documents required for registering and filing income tax

Since income tax login in India is mandatory to file the IT return, one must keep the essential documents handy to finish this process without any hurdles. Here is a list of essential documents that you need to complete this process –

  • PAN.
  • Aadhaar card.
  • Valid mobile number and e-mail ID.
  • Bank account details.
  • Income proof.
  • Investment details along with certificates as their proof.
  • Form 16 and 26 AS.
  • Documents associated with deductions under Section 80U and 80D.

Importance of income tax return as proof of earning

An income tax return is one of the essential documents required for your home loan approval, among several other requirements. Lenders consider this document as proof of your monthly income and evaluate your repayment capacity based on that.

Additionally, while repaying a home loan, you should know the tax exemptions and benefits that you are eligible for on your repayment.

The loan application is further streamlined with pre-approved offers provided by lenders. The aim of these offers is to help save time on loan processing and make it hassle-free. These offers are available on financial products like home loans, loans against property, etc. You can quickly check your pre-approved offer by providing your essential contact details.

A simple income tax login in India allows you to file your IT return quickly and in a simplified manner. The introduction of this online process also helps you to pay your income tax as per your convenience, not to mention simplifying the process of availing a home loan with documentation fulfilment.

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