7 ideas that will transform your Indian bedroom for the better – all under Rs.20 lakh

Often, Indian bedrooms can be too cluttered and dark, making you feel closed in and cramped. The problem of space often leads to overcrowded bedrooms that have too much stuff on the floor and everywhere else. These décor tips will help you solve all your bedroom woes and create a space that look bigger, brighter, cleaner and more stylish.

Here and 7 ways to to revamp your bedroom décor creatively and efficiently while staying within your budget:

  • Go for warm colours

Do you want your bedroom to look classy and cosy? If your answer is yes, then keep it simple. Choose minimalistic accessories, lightning and even furniture and choose wood or earthy tones to create intimacy. Use dim lighting with lamps and concealed ceiling lights for subtlety, which keeps the costs low and makes your décor more elegant too. They will cost around Rs.2900 per piece, and your total expense shouldn’t be more than Rs.75,000 including installation costs.

  • Use contrast for a modern look:

If you like plain walls, create drama with colourful soft furnishings and drapes. If you like textured walls or printed wallpaper then go with monotone furniture. Use cushions in different colours and patterns if your overall bedroom décor is plain to create an impact. While you’ll be spending about Rs.1 lakh on soft furnishings, a good way to save on furniture costs is to buy in pieces that match during sales.

Add the right accessories

Since your bedroom should reflect your personality, a creative way to showcase it is to add artefacts or memorabilia from your travels or your childhood. You can also buy some antiques accessories like sculptures, bedside tables or framed mirrors for old-world charm. These additions needn’t be too expensive, but can really boost the ambience of your bedroom while personalising it for you.

  • Use fabric cleverly

One of the most important things when it comes to interior design using soft furnishings is to ensure that maintenance is easy. So pick fabrics that are easy to vacuum, wash and dry when you redo your bedroom. You can use damask and jacquard fabrics for curtains and upholstery, and add a colourful throw with tassels for the bed. Jacquard fabrics are Rs.350 per meter.

  • Adopt a green outlook

Fresh indoor plants and decorative foliage can make your bedroom look and feel more vibrant. If your bedroom doesn’t get enough light or doesn’t have a balcony, then you can choose to add artificial plants and trees to match your décor. A small cascading waterfall can also bring you peace and tranquillity when you retire to your bedroom, giving you the opportunity to create a serene environment away from all the other chaos. An artificial waterfall set will be Rs.1.5 lakh per set.

  • Add a lively work station

Do you end up working in your bedroom? If you’re bringing work home and need a calm place to read official reports and use the laptop, create a small space just for this. Rather than using your bed for work, adding a small desk with a comfortable chair is a better idea. This will look aesthetically more organised and allow you to carry out your work more efficiently. A nice work station will cost approximately Rs.60000.

  • Add to space with wall cupboard and wardrobes

One of the most common complaints in Indian bedrooms is lack of space. To do away with clutter, ensure that you have enough storage options. Get a bed with storage, add wall cupboards and spacious wardrobes to ensure your things have a place where they can be neatly stowed rather than taking up space on the bedroom floor or chairs. Simple wardrobes start from Rs.37000.

Want to get started on revamping your bedroom? It’s easy to plan and execute with a top up loan when you do a home loan balance transfer! Choose a Balance Transfer with Bajaj Finserv and you will not only enjoy lower interest rates on your home loan, but also get a Top Up Loan, which you can use for redoing your bedroom. Find out about the low interest top up loan that Bajaj Finserv offers here.

Don't use your savings for your child's education abroad. Here's a better option!

What makes a Personal Loan the best way to Fund an Education Abroad?

From a degree in Film-making at New York University to a Master’s in Economics at Harvard, your child can benefit from a world class education at one of the best universities on the planet. But a world class education costs money. And while most Indian parents finance their children’s education by dipping into their own savings, there are other alternatives available.
Keep your hard-earned money aside and consider a personal loan for education. It is a convenient financial solution that can help you manage the expenses that are associated with studying abroad – without the additional burden on your savings.

Four Advantages of a Personal Loan for Education:

1. Loans up to Rs. 25 Lakh

Finance your child’s education at some of the best universities in the world with a personal loan for education up to Rs. 25 lakh. And as these are unsecured loans, you can avail the loan amount without having to worry about any security or collateral.

2. Instant Approval, Quick Disbursal

You can get an approval for your personal loan for education application in just 5 minutes! And with quick loan disbursals offered by Bajaj Finserv, the money can be at your disposal in as little as 48 hours.

Also Read : Get Tax Benefits with A Personal Loan for Education

3. Flexible Loan Tenor

Depending on your preference, you can choose to repay your personal loan for education over a tenor of 12 to 60 months. Pick a tenor that helps you manage your repayments without putting a strain on your finances.

4. No Hidden Costs

When you apply for a personal loan for education from Bajaj Finserv, you do not need to worry about hidden costs or charges. All terms and conditions of the loan, as well as the repayment structure and other details, are mentioned upfront so that you know how to manage your payments.

And that’s not all. The details of your personal loan for education – from the repayment schedule to your installment details – are available on the Bajaj Finserv customer portal. This means you can access your loan details online whenever you want.

Finance a Great Education with Ease

Availing a personal loan for education is easy, and you won’t even have to worry about diluting your savings to meet the expenses. Access the application form for a Bajaj Finserv Personal Loan for Education and take advantage of pre-approved offers, instant approvals, flexible tenors, and attractive interest rates.

 

Apply for Personal Loan Online Check your Personal Loan Eligibility

Assured Airline Vouchers, Shopping Cards And More On Personal Loans From Bajaj Finserv

A Personal Loan and Personal Line of Credit can come in handy when you need money. Be it to manage a medical emergency, to plan a vacation, to finance higher education, your dream wedding, or anything else, these unsecured loans are a source of instant financing over flexible tenors.

And Bajaj Finserv, one of the most diversified non-banking financial companies (NBFCs) in India, brings to you a limited time offer on its Personal Loan and Line of Credit products. Avail a Personal Loan from Bajaj Finserv between 10th and 15th August and get assured gift vouchers and shopping cards worth up to Rs.13,000.

What’s on offer?

If you are a salaried individual and you apply for a Personal Loan from Bajaj Finserv through our online application process, you stand to get:

Here are the details of the offer:

Date Offer Terms of the offer
10-Aug Airline Voucher Loan amount of Rs.4 lakh to Rs.6.99 lakh: Rs.5,000 Voucher/Cash Card
Loan amount of Rs.7 lakh to Rs.9.99 lakh: Rs.8,000 Voucher/Cash Card
Loan amount of Rs.10 lakh and above: Rs.13,000 Voucher/Cash Card
11-Aug Cash Card
12-Aug Amazon Voucher
13-Aug Jewelry Voucher
14-Aug Cash Card
15-Aug Amazon Voucher

Line of Credit Facility Available

Along with a Personal Loan and this exclusive offer, Bajaj Finserv also offers a Line of Credit facility. A personal line of credit is a unique credit facility allocated to individuals for a specified amount. The person borrowing the amount is free to withdraw any amount of money from within the allowed limit. The distinguishing feature of this however, is the fact that you only have to pay interest on the amount you withdraw. While this interest is payable every month, the total amount withdrawn has to be repaid at the end of the chosen tenor of the facility.

Check your Eligibility and EMI

Before you apply for a Personal Loan, you can check your eligibility for the Personal Loan by putting in basic information such as your income, employer, date of birth, etc. in our Personal Loan Eligibility Calculator.

Once you know you are eligible, calculate your probable EMI to get a better idea of what to expect.

Instant approval

Bajaj Finserv approves loan applications instantaneously. Post approval, the loan amount is disbursed to your account in as little as 48 hours. All you have to do is apply for one on the website, show that you meet our eligibility criteria and get your application approved.

To further sweeten the deal, Bajaj Finserv is also offering you a number of exciting gifts.

Vouchers with every Personal Loan

Bajaj Finserv is offering you airline vouchers, cash cards as well as shopping vouchers worth up to Rs.13,000 on every Personal Loan or Line of Credit.

Remember the dates, apply between 10th and 15th August and fulfil your financial needs. Simply log on to the Bajaj Finserv and apply!

Apply for Personal Loan Online Check your Personal Loan Eligibility

Home Loan Low Interest Rate

Limited Period Offer: Bajaj Finserv offers Home Loans at 8.35%

If you are considering buying a home or switching your existing home loan, Bajaj Finserv has a limited period offer for you! For six days starting 10th August, you can avail a home loans or a home loan balance transfer at special rates starting 8.35%.

This limited period offer is valid till 15th August and can help you save as you chase your dream home.

Home Loan from 8.35%

Buying a home is one of the most important decision in your life, and you should take extreme care when it comes to applying for a Home Loan as you don’t want a loan that puts unnecessary strain on your finances. And that’s a good enough reason to opt for a Home Loan from Bajaj Finserv.

If you opt for a home loan of Rs.75 lakh and above during the offer period, you can avail your home loan at 8.35%. For loans of Rs.50 lakh to Rs.74.99 lakh, Bajaj Finserv is charging a special interest rate of 8.40%, while loans of Rs.25 lakh to Rs.49.99 lakh can be availed at 8.50%. This offer is valid on online applications for home loans and balance transfer from other banks.

(These rates are applicable only when you apply for a Top-Up loan along with your Home Loan Balance Transfer. Pure balance transfer cases will be charged rates 10 bps higher than those mentioned above)

Here are some of the reasons why you should opt for a Home Loan from Bajaj Finserv:

Easy loan approval and disbursal

Choose the option to apply for a home loan at your convenience. As long as you fit the eligibility criteria, you can get approval for home loan in as little as 5 minutes!

Top-up loans

If you opt for a home loan balance transfer with Bajaj Finserv, you can also get a top-up loan of up to Rs.50 lakh at a low rate of interest, which you can then use to set up your dream home or for anything else you need.

Refinance

If you have used your own funds to purchase a house in the last 12 months, then you can opt for the refinance option offered by Bajaj and avail a loan amount that’s less than or equivalent to the registered value of your property.

3-EMI Holiday

Bajaj Finserv offers a 3-month EMI grace period to help you plan your monthly expenses.

What are the requirements?

You need to be a salaried individual to avail this offer. You need to apply for your home loan or balance transfer through our online application form. You should have your credit score and required documents handy. Here’s a list of documents you need to apply for a home loan.

Check eligibility

Check your home loan eligibility through our Home Loan Eligibility Calculator. If you are eligible, you can apply for a home loan with through our online application form. Your loan will be approved within few minutes and a Bajaj Finserv representative will get in touch with you to collect your documents.

Don’t miss the bus!

For most of us a home loan is an investment of a lifetime and therefore it is necessary to opt for an affordable home loan. Bajaj Finserv’s Home Loan offer starting 8.35% interest rate is valid till 15th August, 2017.

So, apply for your home loan right now!

Apply for Home Loan Online     Check your Home Loan eligibility

Why a premature withdrawal or breaking of Fixed Deposit is not financially advisable?

Why breaking a Fixed Deposit prematurely is a bad idea?

Many invest in Fixed Deposits (FDs) as they are one of the safest investment options available to us. But often, when we require funds in an emergency, FDs are one of the first investments that we tend to break. As a result of which, we not only lose out on the interest rates but also incur a penalty on the maturity amount.

Consequences of premature withdrawal

  1. Penalties: Premature withdrawal usually involves your bank or financial institution charging you a penalty for withdrawing your FD before maturity.
  2. Interest loss: Interest returns are what you get on a periodical basis from the bank over the tenor period. By withdrawing your FD prematurely you are losing out on the interest gains that you could have received by completing the tenor, which could cause a financial loss for you.
  3. Prevention of growth: Every FD multiplies into an attractive amount over time. The longer the tenor, the more value is added to your FD. Once your initial investment grows, you can use it for holidays or purchases of assets. However withdrawing your deposit prematurely hinders this growth and you only get back the money you had invested. You would lose out on the matured amount of the FD.
  4. Financial uncertainty: If you are retired and have invested in FDs for higher gains, premature withdrawal can cause a considerable amount of uncertainty. You would lose out on a source of income. This would cause worries about paying bills and other rising expenses. Rather than this, taking a loan on your FD is more advisable.
  5. Cumbersome procedure: As most transaction procedures, even breaking of FDs comes with its own share of formalities. These formalities involve filling forms and submitting a range of documents. Only after this can you get your invested amount back.

Premature withdrawal of a fixed deposit can have an adverse set of consequences. You should thus consider these factors before making the final decision of breaking your fixed deposits.

Tips and warnings:

  1. Do a thorough research on the terms and conditions of your FD.
  2. Search for alternate modes of finance instead of breaking your FD.
  3. These could be taking a loan against your FD or opting for a personal loan or line of credit.
  4. Avoid breaking the FD at the end of the tenure period since this may incur higher penalty.
  5. Always have a financial backup of other FDs, shares and mutual funds to support you when you need money for emergencies.
  6. Keep about half of your finances liquid to help you access funds in times of needs.

Why choose Fixed Deposits:

As time passes, it becomes more essential for you to save money in safe investments. Fixed deposits are the safest option of investment. They offer you steady and attractive interest returns as income over a chosen tenor. You can benefit from a range of advantages if you keep your FDs secure until maturity. These include:

  • Provide a fixed and steady income from interest gains.
  • They help your savings grow and mature over the tenor.
  • Ideal for senior citizens who seek income after retirement.
  • Help put your savings to good use.
  • Interest income can be used for various purposes like daily living expenses or buying an asset or even paying for a holiday.

Invest in Bajaj Finance FD with higher rate of interest, stability, cumulative and non-cumulative options and much more.

Calculate FD Maturity Amount

Invest in Fixed Deposit

What Is The Cibil Transunion Score 2.0?

CIBIL stands for Credit Information Bureau India Ltd. It is considered India’s first credit information company. As a credit bureau, CIBIL’s responsibility is to collect and manage payment records for loans and credit cards, for both individuals as well as commercial entities.

As these payment records are collected each month from various financial institutions, a credit information report, as well as a credit score are issued. This allows lenders to evaluate and potentially approve those looking to apply for new loans, therefore, making this score extremely valuable.


An Improved Way To View Credit

CIBIL has now introduced CIBIL Transunion Score 2.0. This is simply an improved version of the original CIBIL Credit Score and has been created keeping in mind the current habits and changes in both consumer profiles and credit data.

Financial institutions are slowly transitioning to this new credit score, and you might notice a difference in your own score with this change. Most individuals notice a slight drop in their score with the 2.0 version. However, this drop will not affect the lender’s decision during the loan approval process, since both versions of the score have different score eligibilities. Some financial institutions make this approval process simple, like Bajaj Finserv, who offer a 100% online approval process for all of their Loan options, making it easier than ever to obtain your funds quickly and conveniently.

Read Blog : A Good CIBIL Score Can Help You Get a Better Deal On Your Personal Loan

Short Credit History? No Problem

Yet another aim of the CIBIL Transunion Score 2.0 is to make it easier for individuals or companies with a short credit history to get approved for the loan of choice. It seeks to classify new borrowers with a credit history of less than 6 months into specific categories. These borrowers were previously labelled under the category of “no history” in the original version of the credit score. Individuals are rated on a range of 1 to 5, with 1 being “high risk” and 5 being “low risk.” The higher your score is; the lower amount of risk you will have on your credit report. If you are still feeling a bit confused about what is involved in your credit score, Bajaj Finserv provides a Financial Fitness Report for a small fee to all of their salaried customers, allowing you to view and understand your own personal credit score.

Improving Your Credit Score

Now that you understand the importance of your score, let’s look at some ways on how to improve your credit score.

Pay On Time: Your ability to pay your bills on time can bring your score to new heights since missed or delayed payments can have an extremely negative effect on your score.

Lay Low: Keep balances on credit cards and other forms of debt as low as possible, as high numbers of outstanding debt can impact your score negatively.

Proceed With Caution: Only apply for new credit accounts when it is absolutely necessary. Having numerous accounts can easily become overwhelming, and most likely won’t do much for your current credit score.

Pay Things Off: Instead of moving your debt around, pay it off. Also do not cancel unused cards to improve your score, since owning the same amount, but having a smaller amount of open accounts can actually lower your score.

Read Blog : How To Get A Personal Loan When You Have A Bad CIBIL Score

After you apply these tips to improve your CIBIL Score, you’ll find an entirely new plethora of financial options at your doorsteps, such as the many attractive, Personal Loan, Business Loan and Home Loan options from Bajaj Finserv.

A Bajaj Finserv Personal Loan comes with a number of benefits such as instant loan approvals, financial assistance in as little as 72 hours and pre-approved loan offers worth up to Rs. 25 lakh. If you earn a monthly salary of Rs. 30,000 or more and meet the eligibility criteria laid down by Bajaj Finserv, a personal loan is just a click away.

Apply for Personal Loan Online     Check your Personal Loan Eligibility

Recurring deposit vs Fixed Deposit: which should you choose and why?

Recurring Deposit vs Fixed Deposit: Which Should You Choose and Why?

A Fixed Deposit is a financial product where you invest a sum of money with a financial institution or bank for a chosen tenor to earn a fixed interest and receive your invested principal at maturity. Recurring deposits, on the other hand, involve investing recurring sums of money on a monthly basis and gaining interest. There are numerous benefits that both options have; however, you should ask yourself a few questions before choosing one over the other.

Questions To Consider Before You Choose Between FD and RD

  1. Do you want the stability of income?
  2. Do you have the income to invest on a monthly basis?
  3. What kind of a tenor are you looking for?
  4. What interest rates are you expecting?
  5. Do you seek tax benefits?

Asking yourself these questions can help provide you better clarity in the FD vs RD debate.

Similarities and Differences between FDs and RDs

Before we study their difference, let’s have a look at their similarities:

  1. Both Fixed deposits and recurring deposits offer safe and risk-free investments, which are popular amongst most investors looking to save money for retirement as well as during their working life.
  2. Both these options offer you numerous benefits like steady returns, attractive interest rates, nomination facilities and loans against the investment, and both schemes are easy to sign up for as they are offered by numerous lenders and financial institutions.
  3. Fixed deposits and recurring deposits also feature tax exemption on interest earned up to Rs.10,000 per year and are taxed as per your income slab above this figure.
  4. Both fixed deposits and recurring deposits allow the investor to withdraw the sum after the end of the tenor. However, premature withdrawal is penalized in both cases.
  5. Fixed deposits and recurring deposits both need you to submit ID proofs and address proofs like Aadhar card, pan card and more before your accounts can be started. They also involve carrying out the usual formalities like filling an application form, viewing terms and conditions and more.

Here is How Fixed Deposits Differ From Recurring Deposits:

  1. Lump Sum vs Periodic Investment: A Fixed Deposit is best suited for those who have accumulated a sum of money as savings, and want to invest it for a short term. A recurring deposit, on the other hand, is best for those who can invest a smaller amount every month.
  2. Tenor: This is the amount of time that takes for the deposit to grow and mature. The tenor for traditional Fixed Deposits range from 7 days to 10 years, and the tenor for recurring deposits range from 1 year to 10 years. Also, FDs are a one-time investment, whereas recurring deposits need continuous investment, just like the name suggests.
  3. Rate of Interest: Interest rates for FDs and recurring deposits only vary with the amount invested and the scheme selected. The more you invest in an FD at one time, the more it grows and matures. However, the overall maturity of an RD remains unaffected by the numbers of times you successively make a deposit. Usually, FDs offer more interest than RDs.
  4. Maximum Investment: These are the limits that financial institutions and lenders put on deposits. The usual maximum limit for FDs is Rs.1.5 lakh; however, this can vary amongst lenders. For RDs, the maximum can usually go up to Rs.15 lakh.
  5. Returns: These refers to the interest that your investment earns over a given tenor. For FDs, the interest returns range from 6.96% to 8%. For recurring deposits, the interest rates over a tenor of a year vary from 5.25% to 7.90%.

Thus, you can see that both recurring deposits and FDs come with their own benefits that can be ideal for you depending on your requirements. If you are looking to inculcate the saving habit, and would like to invest a small amount from your monthly income, an RD is best for you. But if you have accumulated savings and need a safe way to make your money grow, choose an FD.

Bajaj Finance offers you profitable FD investment schemes to secure the future of your family.

Calculate FD Maturity Amount

Invest in Fixed Deposit

Fixed Deposits: your gateway to a safe present and a secure future

Fixed Deposits: Your Gateway To A Safe Present and A Secure Future

Fixed deposits have a long history of being one of the safest investment options available to Indian investors. They are considered to be a necessary part of any prudent investor’s financial portfolio. In the case of fixed deposit investments, it is important to note that you do not have to spend money to make money. In fact, with proper planning and the right financing corporation, you can go on saving money by reinvesting the money you saved in the first place. All it takes is a smart investment plan which offers a high interest rate, flexible tenors and easy functionality.

The advantages of fixed deposits begin with instantaneous online application approval and carry on all the way to the end with highest rates of return on the longest tenors. There are companies where customer satisfaction is accorded with the highest priority through hundreds of fixed deposit-dedicated branches across the country, completely online management of your account, and an accurate calculator that determines exactly how much you earn after your fixed deposit matures.

Financial Safety at Its Best

Most investors know the regular benefits of FD like higher rates of return and better liquidity options, but here’s a list of what makes a fixed deposit one of your safest preferences:

Guaranteed Return on Investment

Fixed deposits come with a fool-proof offer of receiving your funds back, with interest. No matter what the market condition is, you can always trust fixed deposits to come through for you.

Fixed Rate of Interest

From the moment you apply for fixed deposits until the maturity of your tenor, the interest rate on fixed deposits is never subject to any change. Even if the rates for other investments experience a downfall, your rate of return will not be affected at all.

Flexible Tenor

If you’re planning on saving money, it’s important to know what the future holds. That is the only way most investments pay out profitable returns. With fixed deposits, however, you do not have to worry even if your future in uncertain because they offer a highly flexible tenor period—from 12 months to 60 months.

Tax Savings

Under section 80C of the Income Tax Act formulated in 1961, fixed deposits up to 1 lakh are eligible for tax deductions if the maturity period is 5 years, but the interest earned is taxable.

Safety Net

If, due to unforeseen circumstances, you require a loan from any financial corporation, fixed deposits provide an easy option by letting you take a loan on FD. This means that the company will give you up to 70% to 90% credit as a loan on your own fixed deposit.

Cumulative or Non-cumulative Fixed Deposits

In the interest of financial safety and to keep a constant tab on your funds, some companies offer the option to choose between cumulative and non-cumulative fixed deposits. Although the rates of interest are slightly lower on non-cumulative fixed deposit, you can check through online fixed deposit calculator how rate of interest vary in cumulative and non cumulative fixed deposit. You have the advantage of obtaining a steady flow of cash throughout the tenor period.

Get Started On A Better CIBIL Score

Not only can you keep earning money on your fixed deposits even if you take out a loan on them, you can also improve your CIBIL score using the same loan since financing corporations need to have your credit information recorded with CIBIL to provide loans at a low cost.

Check FD Interest Rate

Invest in Fixed Deposit

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