Financial lenders across the country have been consistently reducing their interest rate on home loans recently. This has encouraged many borrowers to shift from their existing lenders to alternate financiers.
Calculations indicate that even a mere difference of 0.5% in the interest rates can amount to considerable savings. Borrowers can opt to shift their remaining loan to another lender that offers a comparatively cheaper interest rate than the existing one. This process is known as home loan balance transfer.
With a home loan transfer, one can easily reduce the quantum of the monthly installments. Additionally, He/she can also ask for a revised repayment tenor and enjoy other offers and benefits.
5 things to consider before opting for a home loan balance transfer
Home loan transfer is a highly beneficial facility for borrowers. However, they must learn everything about a home loan balance transfer before choosing to proceed with it.
Here are some pointers that can help out in this regard –
- Negotiate with the existing lender
Before you rush to transfer your home loan, try to negotiate the interest rate with your current financier. If you have been a loyal customer, chances are your lender might pay heed to your request.
This way, you can reduce the home loan interest rate and the subsequent EMI burden.
You can check how much you would save through a home loan interest rate calculator.
- Look out for associated charges
When you change your home loan financier, the process usually requires you to incur certain fees and charges. These include application fees, processing charges, administration fees, inspection fees and many more.
These charges can be levied by both the existing as well as the new lender. One must make sure that these do not exceed the amount he/she will save.
- Healthy credit score
Maintaining a healthy credit score is extremely crucial for transferring your home loan. Without a strong credit score, one simply would not be eligible for a home loan transfer. Your new lender will examine your credit score before taking up your home loan transfer application.
- Read the terms and conditions carefully
Before choosing a new financier, it is essential to go through all the conditions associated with the product they are offering. A lower interest rate can be quite tempting, but one must be sure of what exactly the new lender has to offer.
By knowing the terms and conditions, one can avoid any hidden charges levied by the new lender.
- Duration of the remaining repayment tenor
Most financial experts suggest that you shouldn’t change your lender if your repayment tenor is almost nearing an end. Ideally, you can opt for a home loan balance transfer when your remaining tenor exceeds five years.
With a longer repayment tenor, one can avail of the advantages of lower interest rates.
Most HFCs today offer the facility of transferring home loan balances from an existing financier. They offer reduced interest rates, minimal documentation, quick approval, and various pre-approved offers and benefits.
These offers are also available on various financial products like home loans and loans against property. You can check your pre-approved offer by simply providing some of your basic contact details.
This home loan balance transfer process involves a home loan takeover. Here, the new financier pays off the loan balance to the previous lender. Thereafter, the borrower begins paying the monthly installment amount to the new lender.
Simply put, a home loan transfer can effectively help to save money. To shift to a new loan financier smoothly, one must make sure to keep the above-mentioned pointers in mind.
Do’s and don’ts of business networking
Business development is something that is a constant focus of most businessmen. There are many things that a businessman has to take care of in order to ensure that business is growing at a good pace. Among other things, networking is something that helps a business walk on the path of constant development and growth.
Talking about networking, it is like those necessary evils that when used adequately benefit you well. Now the ability of good networking is not something a person is born with. One has to over the course of time develop the skills of developing healthy and beneficial relationships.
Well, developing the skill to build good relations takes time and practice. There is a lot one learns from experience and so today we will be talking about the do’s and don’ts of business networking.
In networking events, do not hesitate to be the one who approaches first. Networking events are held so that you can meet new people and make new connections. Often people go to networking events hoping to meet some new people and so they go to such events by themselves.
You can feasibly approach someone and start off a conversation politely. All you have to do is be a little confident and clear with what you say and you will be good to go. You don’t need to worry about anything, you just need to approach and see where things go.
Use Social Media Carefully
Your presence on social media as a business plays an important role in what impression you leave on your audience. When you connect to people through social media you have to be careful with the content you post on your handle.
You have to remain professional all the time and ensure that you avoid getting involved in any political or offensive content. Apart from that, you also need to be active on your social media regularly so that you keep your audience active as well.
Listen And Learn
One of the most important factors of networking is listening. The whole point of networking is connecting with people that benefit us and learning from them for our own betterment. At networking events, people are often promoting themselves. However, if you choose to listen instead, people are more likely to value you and remember you.
Apart from that, listening has its own benefits, the more you listen to people you get to know different perspectives and opinions that help you form your approach. Moreover, it is listening to others or rather more experienced people that help you learn.
Neglect Business Cards
Networking and marketing go hand in hand. We all know that a business card is the most basic tool one can use for marketing or even networking. Exchanging business cards is something that has been around since the very beginning and is still considered one of the best ways to exchange information.
However, with the developments in technology, these cards seem to be neglected. However, you need to make sure that you don’t make the mistake of neglecting these business cards. When it comes to staying put with technology you can always use a virtual business card.
It is often a tendency of people to be a little pushy when you really want to crack a deal or form a good connection with someone. However, this forceful nature of being overly persistent will cause more harm when trying to make a connection.
Being forceful often promotes aggression and makes people lose interest very quickly. One needs to have a sense of when to stop insisting on a conversation. All you need to do is be as patient as possible and wait till you get a positive response. Other than that, being pushy is pretty contradictory to being professional.
The last thing you want in networking is not knowing what to do. Let’s say if there is a business event or a networking event that is filled with opportunities to meet new people and build new connections, and you don’t have enough information about it, doesn’t sound good, does it?
Well, this is exactly why you should always be prepared for any business or networking event. You need to have a good idea about what you need to know from others and what you need to tell them about yourself. Lastly, you don’t want to find yourself caught short on information that would have benefited you otherwise.
The 10 Best Sites That Are Like Afterpay
Have you used Afterplay before? Although they offer the great benefit of making purchases, receiving your products now and paying later, there are other options that you can also consider if you want to try another platform with similar services. Some of the factors why people start looking for alternatives to this popular app is the improved customer service level, an interface that is more intuitive to use or due to the fact that they have built a good and reliable brand. In this article you will see a series of payment gateways similar to Afterpay, as well as a practical short review.
Although this app is more expensive to use, they offer the option to buy now and pay later without having to worry about the interest, as long as you pay your installment plan before the previously accorded due date.
2. PayPal Credit
Just as you may imagine, this version of paypal gives you the flexibility to buy those things you probably can’t afford just now, you can get your order now and pay over time, just consider that the services of this app are more expensive.
3. G2 Deals
This is another buying software that takes pride in being cheaper than its competitors, and they have built a trusted business among users, plus they offer extra benefits to their customers.
If you are looking for a fin tech solution that allows you to put your finances in order through their online services, you might consider this alternative. They have a great interface but it’s more expensive than Afterpay.
This payment gateway provides the common payment methods and focuses on giving their users outstanding support. At Klarna, they will do an amazing job to meet or exceed your expectations and their app is in general very easy to use.
Considered as a suitable alternative if you are looking for a company who offers services at a worldwide level. By using this app your payments will be required on a monthly basis instead of the 2-week period provided by Afterpay.
They will offer you the flexibility of splitting the total charge of your purchase in four parts and pay for them later. Although this is a more expensive deal, you will enjoy a better built app as well as more dedicated customer service.
This is the best option overall in our rank, thanks to the set of benefits you will enjoy with this payment gateway provider. If you want to have the freedom of scheduling your payments without any kind of setup charge or monthly/annual fees, this is your go to. Plus, your transactions will be protected by their FraudGuard service, which you get for free.
9. Go cardless
An online payment tool that delivers what they offer, you can learn how to use it very fast and the customer service is wonderful. Just keep in mind that there is a 1% fee per transaction.
Just like the name describes it, it will allow you to buy things now and pay later without needing a credit card. While they are reliable and the app has a friendly interface, their service is more pricey.
Ways to Use Brochures to Advertise your Brand
Custom brochures are the most significant marketing tool for your brand. Many companies are advertising their brochures to create a sense of familiarity with their brand and provide information about their services as a way to initiate and develop relationships with potential customers.
Why use brochures?
A brochure can be an effective way to get a message across. Most companies spend heavily on brochures because they know that brochures have the power to sell their brand and make money. A compelling brochure can have many forms like direct mail, postcards, and more. The value of the content can easily be increased by designing it for social media.
Tips for Looking Trendsetting
Occasional updates to your existing marketing material can help you improve how your brand is perceived, how long it takes someone to reach a decision on purchase, and how likely they are considering a purchase. Staying on top of trends with the use of brochures can also boost prospects for high return, low-cost marketing campaigns.
Use Product Brochures
If you need to establish your brand, improve the effectiveness of your marketing campaigns with brochures. They can be produced in a plethora of ways and may serve several roles depending on the needs of your campaign. A used as a marketing tool to knock doors your product can be displayed or just provide important information like contact info or product specifications.
How to design a product brochure?
Product brochures are a part of marketing strategy for any company. Many businesses opt to include a brochure that features their company as well as an individual product. Designing an eye-catching brochure is time consuming and takes more than just your typical type of fonts and layout. You’ll need to consider what colors you want your design to be made in, what will appeal most to your audience, etc.
What paper choices are there for your custom brochure?
There are several different choices when it comes to publishing your custom brochure. You can choose from glossy or other fine-grained papers, or print on a website that offers an interactive design like infographics, papers woven in transit and much more. To tailor your marketing strategies with certain materials, think about what message you would like to convey the world with your custom brochure. Choose between the glossy paper for high-quality printing, or the matte finish for consumer convenience when you need to manage multiple copies on-the-go.
Tip for Look Trendsetting
Brushing your teeth is one of the simplest ways to change up your appearance, but the easiest way to see a noticeable difference in how others look at you might be by changing up brochures. You want people to read them for hours on end and leave with a heartfelt message about how awesome you are and what your brand does for them, right? So go out of your way to make these things as eye-catching as possible. Use bright colors, slick paper, large fonts and more and watch as competitors turn green with envy!
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