Connect with us

Finance

All you want to know about necessary requirements for Marriage Loans

Published

on

Weddings are an extremely important event in anyone’s life and people at times find it difficult to arrange funds on their own to make this event happen. Hence, the most important kind of planning that needs to be done is for arranging the finances to make your dream wedding turn into a reality.

Fortunately, we have a lot of financial institutions at our disposal to help us with funds that can help us with our wedding expenditure in the form of a marriage loan. It is a personal loan taken to fund expenses related to the wedding. The interest rates for this kind of loan range from 11.25 to 24% per annum.

Personal Loan is a great medium to consolidate debt & make the major purchases which in the case of weddings could include the payment for the venue, caterers, fancy clothing, etc. But, we should always make it a point to utilize the financial resources responsibly. This practice goes a long way in improving your financial standing & image in the market.

The entire exercise of planning for a wedding becomes a mammoth task in itself right from hotel bookings which are done in advance, the jewelry shopping for multiple occasions, planning the caterers, decorations, wedding invitations, etc. Making a budget for the wedding could be the right way to approach an event like this and can give a fair idea of how much funds can be required. This can enable clarity on how much funds need to be borrowed vs what is our own capacity to pay.

Weddings have always been a huge deal in India and people are making the best use of loan alternatives available to fund the idea of dream weddings they have in their mind. They want to shoulder all the wedding-related expenditures by themselves and as a result, are not shying away from approaching lenders for necessary funds that can help meet their goal.

One has to be eligible to obtain a marriage loan, & every lender bank will have its own criteria, yet, a few generic ones are listed below:

  1. To become eligible for a marriage loan, one needs to be at least 21 years of age & for some lenders, the minimum age applicable is 23 years.
  2. One should not exceed 58 years of age when you fall into the salaried income category whereas people who are self-employed should be not more than 65 years of age.
  3. Minimum income requirement usually is Rs.15,000 for taking a wedding loan, yet some lenders might consider Rs.25,000. The living conditions of the applicant which include the current city, age, etc also affect these particular criteria.
  4. People who are employed on a salary basis, or are self-employed are considered eligible to avail of such kinds of loans provided they meet the minimum income requirement.
  5. The steadiness of income is a must for a candidate and hence, salaried individuals should have been employed for two years & at least a year with the current employer to be able to opt for a marriage loan.
  6. CIBIL Scores should be above 700 amongst applicants and the ones who have lower CIBIL Scores may also get the loan but lenders might charge a higher rate of interest.
  7. The quantum of loan ranges between 5 Lakh to 20 Lakh but also varies from lender to lender and depends on various factors which include income, repayment capacity, CIBIL Score, etc.

Once you are eligible for availing a marriage loan, there will be a set of documentation that would be required from your end to get started with the formal process, which includes:

  1. Valid Proof of Identification: Applicants can submit any or combination of the following documents- Passport, Voters ID, Driving License, Aadhar Card, Ration Card, National Rural Employment Guarantee Act (NREGA) Job card, PAN Card.
  2. Valid Proof of Address: The documents listed below serve as proof of address and they include: Diving License, Ration Card, Passport, Adhar Card, Rental Agreement, Water/Electricity/Telephone Bill & Voters ID.
  3. Proof of Age: Usually the documents submitted have the proof of age of the applicant mentioned on them but, in case there are documents that don’t have age written then, the documents mentioned below can be submitted: School Leaving Certificate, Birth Certificate & PAN Card.
  4. Salaried individuals need to submit Form 16 or the latest salary slips or bank statements to show salary is credited in their bank account.
  5. Self Employed applicants need to show the P&L Account, Balance Sheet, and the latest Bank Statements of the primary account for the last 6 months.
  6. The Loan Application form would be available on the Lenders website or can be taken from the Lender. It needs to be filled and submitted along with the rest of the documents.

Kindly note that every lender will require a different set of documents to be submitted but the general/basic ones have been highlighted above. Most of the major banks and NBFC’s in India offer major loans like Punjab National Bank, Standard Chartered Bank. State Bank of India, IDBI Bank, Kotak Mahindra Bank, Axis Bank, and many more.

Penny Black lives in London with her husband, two kids, and two dogs. When she’s not writing, she can often be found walking in the woods with her kids, or down by the river with her dogs.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Children

How to Pick the Best School in West Bengal For Your Kid in 2023?

Published

on

By

The educational landscape, as a whole, keeps changing with time. The same goes well with the state of West Bengal. A vast array of school options are available in the state, and it can be overwhelming to select one out of the lot. Finding the best fit that aligns with your child’s unique needs, interests, and learning capabilities is paramount to boosting their academic and personal growth.

In this guide, you can find the essential factors to weigh the primary aspects in 2023 that the educational sector beholds. Learn how to select the best schools in Kolkata and the rest of West Bengal. Secure your child’s educational future by discovering the perfect match with a few easy steps.

Factors to Look Out for When Selecting a School for Your Child

While choosing a school, one should keep a few primary factors in check. Here are the factors that can make a huge difference while selecting the best schools in Darjeeling and other parts of the state.

Location

The significance of location cannot be overstated when selecting the ideal school for your child. One of the most practical reasons to consider location is the daily commute. Opting for a school conveniently located near your home can significantly reduce travel time. It eases the morning rush and ensures your child arrives at school fresh and ready to learn. A shorter commute can also offer parents more time with their children, promoting a balanced family life.

Moreover, proximity to the school allows your child to participate in extracurricular activities and events frequently. Whether attending after-school clubs, sports practices, or parent-teacher conferences, being closer to the school ensures more accessible involvement in your child’s academic journey. Further, it enhances communication and collaboration with teachers and other parents.

Curriculum

The second crucial aspect to consider is the school’s offered curriculum. In West Bengal, you will find a diverse range of curriculums, including the Indian Certificate of Secondary Education (ICSE), Central Board of Secondary Education (CBSE), and West Bengal Board of Secondary Education (WBBSE). Each of these curricula possesses its unique advantages and limitations. So it is essential to conduct thorough research to pinpoint the most suitable school for your kid.

ICSE: This curriculum is regarded as an elite education board that strongly focuses on language acquisition, science, mathematics, and social studies.

CBSE: It is the most widely adopted board of education in the country. It is renowned for its keen attention towards mathematics and science, making it a most sorted choice nationwide.

WBBSE: This is a state-run board of West Bengal that primarily aims to shape every child’s future in the state.

Teaching and Non-Teaching Staff

Another essential factor while selecting a school is considering the quality of both faculty and non-teaching staff. The teaching staff’s qualifications, experience, and expertise are of utmost importance. Highly qualified and experienced teachers are better equipped to deliver effective and engaging lessons, catering to the diverse learning needs of students. Equally vital is the student-to-teacher ratio, as smaller class sizes often translate to more personalised attention and support for each student.

Apart from teaching staff, non-teaching staff contribute significantly to a school’s success. Administrative staff, librarians, counsellors, and other support personnel are essential in ensuring smooth school operations. They significantly provide comprehensive support to students and teachers to keep the educational institution running in the heartiest way.

Infrastructure and Facilities

When evaluating the best schools in Asansol or anywhere on the lands of the Ganges, one crucial factor that should not be overlooked is the infrastructure and facilities offered by the institution. A well-designed and equipped school environment enhances the overall learning experience. It is a primary necessity to provide a scope for the holistic development of students.

When considering the physical infrastructure, scrutinise whether the classrooms are spacious, well-maintained, and safe. The physical space is a critical factor in creating a conducive learning atmosphere. The availability of specialised facilities is also essential. Look for schools that offer dedicated laboratories for science subjects, computer labs with up-to-date technology, and well-stocked libraries that encourage a culture of reading and research.

Sports and co-curricular facilities are vital for promoting physical fitness and extracurricular development. A school with playgrounds, sports fields, and facilities for other extracurricular activities can encourage students to participate in physical activities. It promotes a healthy lifestyle and provides a sound recreational space for the students.

Academic Performance

Assessing a school’s academic performance is crucial in making an informed decision about your child’s education. A school’s track record in academic achievements reflects its instructional quality and the success of its students. One key metric is to assess their board exam performance, be it CBSE or ICSE, and look for the overall academic score of the students. Compare the subject scores with national and state averages. Consistently high scores indicate a school’s dedication to imparting quality education and preparing students effectively. Choosing a school with a constantly excellent academic record helps in making wise decisions.

Fee Structure

It is not always true that the best schools in Kolkata and anywhere else have a hefty fee to be paid. One should stick to their budget while opting for a school as it is a long-term commitment and going beyond your limits can cost your child’s future. Understanding the fee structure of a school is a crucial step in the decision-making process. It allows parents to assess the affordability of the institution and plan their finances accordingly. While comparing fees, one should consider the value offered in terms of educational quality, facilities, and extracurricular opportunities.

Transparent and well-structured fee policies help build trust between the school and parents, ensuring a smooth and hassle-free educational journey for the child.

Takeaway

Whether in West Bengal or anywhere else worldwide, a few factors hold the most importance while selecting an ideal school as a parent. By prioritizing your child’s unique needs and learning styles, you can navigate various curricula, teaching staff, infrastructure, academic performance, and fee structures. Thorough research and open communication with schools will empower you to make an informed decision promoting your child’s academic growth, personal development, and overall well-being. Remember, the ideal school ignites their passion for learning, provides a nurturing environment, and equips them with the skills and knowledge they need to win over the competitive academic world. So, choose wisely.

Continue Reading

Business

Basilic Fly Studio IPO sees historic subscription of 287 times; here’s how to check allotment status and GMP

Published

on

Investors responded enthusiastically to Basilic Fly Studio’s initial public offering (IPO), making it one of the most heavily subscribed issues so far this year. The issue was fully subscribed within a few hours of it going on sale, but during the three days of bidding, it was massively booked 286.60 times.

50.96 lakh shares were offered, and 145.96 crore shares were bid for.

The most subscriptions (549.44) were made for the non-institutional investors (NII) category, followed by 415.22 for the retail investors’ component. In the meantime, 116.34 times the quota for qualified institutional buyers (QIBs) saw bids.

In contrast to the 8.72 lakh shares that were offered, the NII portion received bids for 47.93 crore shares, while the retail investor quota received bids for 84.50 crore shares. 11.62 lakh shares were offered in the QIB category, however offers for 13.52 crore shares were received.

On Day 1 there were 33.17 subscriptions, while on Day 2 there were 139.54 subscriptions.

Regarding the IPO
The subscription period for the 66.35 crore SME IPO ran from September 1 to September 5, 2023, with a price band of 92 to 97 and a minimum order of 1,200 shares. The new issue of shares totaling $60.53 crore and the promoters’ offer to sell 6 lakh shares totaling $5.82 crore made up the public offering. Prior to the IPO, the company raised 16.91 crore through QIB’s anchor book.

QIBs were allowed to purchase 50% of the issuance, HNIs may purchase 15%, and regular investors could purchase the remaining 35%.

One of the best visual effects (VFX) studios in India, Basilic Fly Studio Limited has offices in Chennai and Pune as well as subsidiaries in Canada and the United Kingdom. Over 10,000 projects have been accomplished by the business to date; BFS has worked with over 300 clients on 900 films, 2,000 television series, and 8,000 advertisements.

The visual effects (VFX) studio operator will use the proceeds from the recent issue to build new facilities in Salem and Hyderabad and upgrade the infrastructure at Chennai and Pune locations. Additionally, fresh issue money will be used to finance the extension of workspace in London, the bolstering of facilities in Vancouver, as well as general company reasons.

Allotment
The issue’s share distribution will also be completed today, September 8. The Basilic Fly Studio IPO allotment status can be viewed on the registrar’s website, Purva Sharegistry India Pvt Ltd, by investors who submitted applications for the offering.

Through the basis of allotment, investors can determine if and how many shares they have been allocated. For those who were not awarded shares, the refunding process will begin on Monday, September 11. On Tuesday, September 12, those who were allocated will receive their shares in their demat accounts.

Continue Reading

Finance

Turkey’s economic programme has Erdogan’s full support, Simsek says

Published

on

Reuters, ANKARA, September 7 – A day after the government raised its inflation estimates and lowered its economic growth expectation, Finance Minister Mehmet Simsek stated on Thursday that President Tayyip Erdogan fully supported Turkey’s economic policy.

Erdogan has publicly criticized high rates for years, holding the unconventional belief that they exacerbate price pressures. However, he claimed on Wednesday that inflation will drop to single digits “with the support of tight monetary policy,” which surprised some experts because it seemed to endorse recent aggressive interest rate hikes.

Continue scrolling to see an advertisement

At a media event, Simsek stated that he also planned investor meetings in Germany, the financial centers of New York and London, as well as in cities in Asia and the Middle East.

Analysts praised what they said was a more realistic attempt to address inflation that reached at 85% last year after Erdogan’s policy U-turn began in June with Simsek’s appointment, but they cautioned that the short-term economic pain could test his patience.

Continue scrolling to see an advertisement
Foreign investors strongly appreciate Simsek, who emphasized the president’s support.

“Our president has full support, whether it be for the budgetary policies or the anti-inflation program. We not only see it, but we can also touch it, he informed the press.

He stated, in an apparent acknowledgment to skepticism in the financial markets about his ability to see through the policy change, “…There is not the slightest doubt.”

Continue scrolling to see an advertisement

Report this advertisement
Turkey has had severe economic hardships, with its foreign exchange reserves being drained and the value of the currency falling recently. Since the May elections, it has lost another 25% of its value against the dollar.

STRESS REDUCE ACTIONS TO CONTINUE
According to the current official predictions, yearly inflation will increase to 65% by year’s end before declining to 33% the next year, from 24.9% and 13.8%, respectively, in the predictions made a year ago. GDP growth was slowed to 4.4% this year and 4% the following year, yet it is still more t

Continue Reading

Interesting Articles

Police investigate shooting on Interstate 80 in Iowa, closed down one westbound lane Police investigate shooting on Interstate 80 in Iowa, closed down one westbound lane
News14 mins ago

Police investigate shooting on Interstate 80 in Iowa, closed down one westbound lane

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp A shooting on Interstate...

go-deeper go-deeper
News23 mins ago

‘It still burns’ – The Maradona match that led to the creation of the Champions League

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp When the Super League...

Rain, snow put state's reservoirs at 128% of historical average Rain, snow put state's reservoirs at 128% of historical average
News30 mins ago

Rain, snow put state’s reservoirs at 128% of historical average

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp SACRAMENTO, Calif. (AP) —...

Rep. Byron Donalds Rep. Byron Donalds
News44 mins ago

Rep. Byron Donalds says McCarthy is ‘in trouble’ after budget deal: ‘We didn’t get anything’

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Rep. Byron Donalds, R-Fla.,...

Neighbors react after Craig Ross, Jr. charged with kidnapping 9-year-old girl Neighbors react after Craig Ross, Jr. charged with kidnapping 9-year-old girl
News46 mins ago

Neighbors react after Craig Ross, Jr. charged with kidnapping 9-year-old girl

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp SARATOGA COUNTY, N.Y. –...

Serial Scammer George Santos Delivered the Perfect House Speaker Joke Serial Scammer George Santos Delivered the Perfect House Speaker Joke
News1 hour ago

Serial Scammer George Santos Delivered the Perfect House Speaker Joke

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Representative George Santos made...

Judge issues gag order and rebukes Trump after social media post attacking his clerk Judge issues gag order and rebukes Trump after social media post attacking his clerk
News1 hour ago

Judge issues gag order and rebukes Trump after social media post attacking his clerk

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp CNN  —  Judge Arthur...

Jews spitting on the ground beside Christian pilgrims in the Holy Land sparks outrage Jews spitting on the ground beside Christian pilgrims in the Holy Land sparks outrage
News1 hour ago

Jews spitting on the ground beside Christian pilgrims in the Holy Land sparks outrage

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp JERUSALEM (AP) — A...

Mom of Nathaniel and Josh Lowe has cancer, won't attend series Mom of Nathaniel and Josh Lowe has cancer, won't attend series
News1 hour ago

Mom of Nathaniel and Josh Lowe has cancer, won’t attend series

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp ST. PETERSBURG, Fla. —...

Returned Asteroid Sample Canister Contains Way More Asteroid Than Expected Returned Asteroid Sample Canister Contains Way More Asteroid Than Expected
News2 hours ago

Returned Asteroid Sample Canister Contains Way More Asteroid Than Expected

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp NASA curation team members...

Trending