Home Improvement Loan

Don’t Forget to Renovate Your House Before Selling It

Are you planning to sell your home? Home improvement is a good way to add value to your home. It may lead to a higher selling price. After all, appearances matter in a resale. Would you want to pay for a property with peeling paint and water stains? Of course not! Home improvements for resale are very important. Take care of these details to get a better rate.

Things that Affect Home Appraisal

Part of the process of selling a home is the home appraisal. So, let us look at what is considered in a home appraisal.

  • Location of your property (for example, how close it is to the main road)
  • Surrounding neighbourhood (better neighbourhoods are preferable)
  • Physical condition of your home

Anything that requires obvious repairs will have an adverse impact on the appraisal. All upgrades, even small ones, have a positive effect your home appraisal.

Best ways to add value to your home

Looks do matter when reselling a home. Home renovation could improve your home’s appearance before a resale. Here are some suggestions to do this right.

  • Paint the exteriors and repair any cracks.
  • Do you have a front yard or a garden? Keep it neat and trim. Remove weeds and plant fresh flowers
  • The kitchen and bathrooms are important. Fix any broken cupboards, leaky faucets, damaged countertops, sinks, and broken tiles.
  • Paint the interiors in neutral colours to attract more buyers. A paint job also hides problem spots, such as water stains.

How to Fund Your Home Renovation

Say you need to renovate your home before selling it. You want to get a better price. But you do not have the funds. This is where a home improvement loan comes in. Lending institutions and banks provide home improvement loans for this very reason.

How a Home Improvement Loan Can Help

Home improvement loans cover every aspect of home improvement. They even include a complete renovation of your property. You can even use the loan for small improvements, like electrical work or plumbing.

Besides, home improvement loans are easy to get. So, you do not need to worry about funding the home improvements. The repayment period for such a loan is usually a maximum of 15 years. Generally, the payments happen through equated monthly instalments (EMIs). The lender charges interest on the loan. But there are no prepayment charges. Home improvement loans are also eligible for tax deductions under the Income Tax Act.

Summing Up

Home improvements for resale increase the value of your home. After all, a good-looking property will attract more buyers. Think of it in this way: Your old house may be a dream home for someone else. Home renovation and improvements set the stage for a good appraisal. So, take a moment before you put out the ‘for sale’ sign. Think about what is considered in a home appraisal. Then make a smart investment in your home to get a bigger resale price.

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Home Improvement Loan

Paint Peeling Off Walls? Don’t Let a Low Bank Balance Stop You from Renovating

Would you like to renovate your home before the festive season? Are you looking for some interesting home renovation ideas? Costs are a factor. But we have a few home renovation ideas on a budget for you as well.

Festivals like Ganesh Chaturthi and Diwali are around the corner. At such times, it is customary to clean, renovate, and decorate your home. The belief is that this brings good luck and fortune into your lives.

Home renovation ideas on a budget

Start with the living room and bedrooms. Here are some bedroom and living room renovation ideas:

  • Change the floor tiles
  • Invest in lightweight and utilitarian furniture
  • Add new light fixtures or lamps to add drama
  • Give the room a fresh coat of paint

Are major alterations not on the cards right now? No problem. Here are some easy living room makeover ideas. Start by rearranging the furniture. If you have the cash to spare, buy one or two statement pieces. Bring out the bright furnishing to liven up the space.

The kitchen is another important space in your home. Do you want some kitchen remodelling ideas? Here are a few:

  • Modular kitchen fittings
  • A new kitchen sink
  • Light fixtures at appropriate places
  • Kitchen appliances, such as a state-of-the-art cooking ranges, oven, dishwasher and more.

For kitchen remodelling ideas on a small budget, add some quirky and functional accessories. Try your hand at painting the kitchen walls in a pop colour.

Getting a home renovation loan

To remodel your home, it is a good idea to take a home renovation loan. There are several advantages to this sort of loan:

  • You get a lump sum amount of cash to fund your expenses
  • Use the loan amount for repairs, furnishing, painting, electrical work, or flooring
  • The documentation is simple and hassle-free
  • Repayment is through monthly instalments
  • You may apply for an individual or a joint loan

A home renovation loan is meant for home improvements. You simply need to form a rough estimate of the costs. Then submit the details to your bank.

If you have a home loan already, then getting a home improvement loan is simpler. After all, the bank already has your documents. In case you do not have a loan with the bank, inquire about the application process. Typically, you need to submit your income and property documents to the bank. Bank officials will verify the site and the estimated cost. Based on their verification, they will sanction the loan. You may have to pay a small processing fee. This ranges from 0.5% to 0.75% for a home renovation loan.

Summing up

It is easy nowadays to revamp your home according to your taste and budget. Some of these home renovation ideas should help. Plus, you could apply for a home renovation loan as well. Get ready to turn your house into a dream home.

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Fintech revolution

Fintech revolution is upon us: What can we expect

Whenever you were wrongly charged on your credit card, you typically called up the bank call centre and complained. After a bit of a haggle and luck, you manage to get the charges reversed.

While this leaves a bad taste in your mouth as a customer, for a bank this is not such a good customer experience either. Banks often take action after such incidents happen. However, things have changed dramatically now.

Citi, one of the world’s biggest bank, is now using big data analytics to retain customers or acquire them through predictive modeling. Citi uses an algorithm that pores over transactional records to spot anomalies and corrects them before they are noticed.

There are three things that are fundamentally ushering in the impact on the way financial services are now being delivered.

1. The falling cost of computing power

We all know how devices are getting smaller and smarter. A revolution of sorts is underway when it comes to getting smart. Some years ago, ‘embedded systems’ was the term used commonly. It meant a technology that allows one device to talk to another. It is astonishing that nobody speaks of that anymore. Today, everyone talks about ‘a smarter planet’ or an ecosystem that enhances productivity in life.

This is possible because devices are getting cheaper as well as smarter. A smart phone today is several times more powerful than a mainframe computer was a couple of decades ago. No wonder then your bank is now in your pocket through an app on your phone.

2. Big data

Every action that you make on your mobile app is recorded. It is part of zillions of bytes of data stored for every bank customer in the world. The data is used to create patterns of usage. So it remembers the cash you withdraw each time you walk into an ATM. They also know that you utilize your reward points. They promote more ideas for you to earn more reward points. Your bank knows more about your spending habits and preferred transactions than ever before as a result of the mobile phone.

3. Smart algorithm

The falling cost of computing and big data, when combined with smart algorithms, creates a powerful tool for banks or non-banks to exploit. An algorithm is a software program that reads data and throws out relevant information like in a search engine. The logic requires parameters that suit your business.

For example, Royal Bank of Scotland in UK recently created a new data strategy called ‘Personology’. The bank combed the massive financial transaction data of customers. They identified areas where clients were paying for services to third-party vendors that were already free with their bank account. These were services like mobile phone insurance or emergency breakdown assistance.

The bank sent out messages to account holders. The initial worry was that customers could opt for third-party vendors over the bank services. However, most customers switched off the third-party service and continued with the bank.

What is happening in India

New companies are cropping up all over India to redesign the financial services processes.

A significant impact is felt on payment services, lending services, customer interaction, wealth management and brokerage businesses.

Startups were earlier considered disruptive in this space. However, existing players like large banks seem to be collaborating with many of them to enhance their customer experience.

“Large banks are tapping into the start-up ecosystem to incubate and create alliances on a variety of platforms such as wallets, investment intermediation, online client acquisition. They are not only developing platforms for such start-ups to thrive, but are also beginning to invest in such platforms,” said a report by KPMG on Fintech in June 2016.
There are primarily seven odd Fintech themes, the report argues.

These include next generation payments, peer-to-peer lending, bank in a box, financial inclusion, blockchain, robo-advisory and security and biometrics.

India is witnessing a significant investment in payments solutions. The KPMG report states that the unified payment interface could allow large and small players to boost payment transactions through mobile phones and apps. It is widely expected to move India to a predominantly cashless society. Major banks like ICICI Bank, Axis Bank have introduced such systems.

Blockchain is expected to make it easy to verify transactions in a networked world. In India, there is very limited progress on blockchain. A number of major IT players in India are piloting projects that implement blockchain in financial processes, the KPMG report observed.

Financial inclusion tops the government agenda in India. The presence of over a 100 crore Aadhaar accounts along with 100 crore mobile phone owners opens a significant opportunity in financial inclusion.

Peer-to-peer lending is not actively gaining ground as it is in places like UK, US and Hong Kong and Singapore.

Artificial intelligence

A lot of the smart technology prowess actually converges into artificial intelligence. In the financial services space, this could emerge as an impactful development.

Here are some things that could happen as a result of the innovation in artificial intelligence:

• You would soon be advised on your banking related queries by a robo assistant.

• When you use your banking or a loan app, you are most likely to be guided by a robo-agent to fill up your form or make use of your online access.

• Your investments in various financial instruments would be handled by a robo-advisory app.

• When you reach your bank for queries on your loans or service updates, a robo-advisor may guide you and sort your query.

• Your loan application would be read by a machine or a robo-officer who will cross-check your ability to repay the loan with other data and take an automated call. This is already happening in many developed markets.

There are many more situations that could be handled by artificial intelligence. This is the impact technology can have on you as a consumer.

For managers in the financial services business, this could be the calling to enhance productivity by a factor that was unheard of before. For years, as a financial services provider, you looked up for a cost-efficient way to tap retail customers or the ‘last mile connectivity’. You created a budget and exhausted it in just reaching out to the people in new cities or towns or in rural markets. However, it is possible now to reach out to a target group that you know has the capability to utilize services you offer. If it gets competitive here, you can use further technology to identify new customers in a new geography or a market by simply combing data of customer behavior.

Many argue that technology may replace human beings. The scale of transformation is likely to be unprecedented. An important factor to note here is that there is no single hardware like a sophisticated computer or a smart phone or revolutionary software driving this change. It is not just the cheap computing ability on its own that is making this change.

Simply procuring cheaper devices will not do the job. Getting just the software right will not help. Producing a volume of data that nobody can read would not help either. Your role as a manager will involve doing multiple tasks in putting things together. They need to be woven together into a vision for growing the business.

At the end of the day, technology is just an enabler for better productivity and better living.

Blog post by Rakesh Bhatt – Chief Operating Officer, Bajaj Finserv

How to buy your favourite trendy outfits with just a single swipe

Have you ever looked at your wardrobe and felt that it badly needs a makeover? You are tired of the same old clothes; you want to freshen up your look. And, to back it up, you have tons of wardrobe makeover ideas too!

Do you know what that means? You get to go shopping! But, do not step out without an EMI card.

Wardrobe makeover on a budget

Most of us love retail therapy. But buying branded clothes also means shelling out a lot of cash. So, what are your options for shopping without going broke?

  • Hard cash: If you have enough savings, you may spend cash without hesitation. However, this is not a realistic option for most.
  • EMI on a credit card: With this option, you get to buy immediately and pay over an extended period via instalments. Sounds ideal, right? Sadly, the shock will come later, when you find high interest added to your credit card bills. Say, you buy a designer sari worth Rs 17,000. The interest rates on EMIs can push up your bill to Rs 18,900!
  • EMI card: With this card, too, you can buy all your wardrobe makeover essentials at once. Pay the amount back in instalments over a few months. Unlike the credit card, this card charges no interest! So, if you buy a little black dress from UCB worth Rs 3,500, you pay Rs 3,500 and nothing more.

Features of the EMI Card

  • The Bajaj Finserv EMI card is a pre-approved loan. As soon as you swipe the card, the loan is approved.
  • It is cheaper than EMIs on credit cards as you do not have to pay the interest.
  • It has no foreclosure or prepayment charges. So, if you have a little extra money and want to prepay the loan, you will not be penalised. In fact, Bajaj Finserv encourages prepayment. It allows up to six prepayments in a year. Also, there is no limit on the prepayment amount.
  • It is quite affordable with a joining fee of Rs. 399. You pay Rs. 99 as renewal fees only if you do not use the card for 12 months.
  • EMI cardholders get an online account on which they can track their payment schedule and other information.
  • The tenure options on this card are flexible. You can choose the 3-month, 6-month, or the 12-month tenure.
  • The card requires an easy documentation and application process.
  • You also get pre-approved offers from retail partners of Bajaj Finserv. Some prominent partners are UCB, Pepe, Zodiac, Wrangler, US Polo, Globus, Global Desi, Spykar, Puma, Adidas, Reebok, Arrow, Lawrence and Mayo, GKB, and Big Bazaar.

Summing up

Get ready for a brand new you!

Step 1: Write down your wardrobe makeover ideas. Be sure to include a designer sari, a classic little black dress, a pair of blue jeans, and a smart fitted jacket.

Step 2: Head to the nearest mall. Choose all your wardrobe makeover essentials and place them in the shopping cart.

Step 3: Pay with your EMI card

Step 4: Enjoy your fresh new wardrobe and look!

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How EMI Cards allow couples to create the best moments within a budget

Honeymoons usually give newlyweds some of the best memories to last them a lifetime. Many people even have dream destinations for their honeymoon. However, dreams can sometimes cost a bit more than you can afford. But now, even with a limited budget, you can book the best holiday package without worrying about a fading bank balance. Interested? Read on.

Holiday on EMI

A trip with your spouse to the beaches of Mauritius may be tempting. Or, travelling to the pristine Swiss Alps with the love of your life may be a childhood dream of yours. But, such a holiday can be costly. Besides, the wedding may have left you a bit poorer already! What do you do then? Just plan a little in advance and pay for the travel expenses in easy equated monthly instalments (EMIs).

Travel in easy instalments

So, how can you pay your travel dues in easy EMIs? Simple! Opt for the Bajaj Finserv EMI card. With it, you can book your flight tickets or even holiday packages on EMIs. The card functions like a pre-approved loan that you can use to fund your honeymoon. After making the bookings, you can choose a repayment schedule according to your convenience.

How to get an EMI card

All you have to do is submit a photo ID and a photograph to Bajaj Finserv. They will approve your card at once and you can begin shopping with it right away. Unlike credit cards, this card will not charge you a hefty interest rate in exchange for the credit purchases. So, it will not burn a huge hole in your pocket!

Where can I use the card?

You can use the Bajaj Finserv EMI card across a large selection of vendors. This includes electronics brands, apparel retailers, and more. In the travel sector, Cox & Kings is a partner brand. All you need to do before the honeymoon is head to a Cox & Kings outlet. Check out packages for romantic getaways on offer. Do you want a luxury package or a budget one? Whatever be the case, look for an itinerary that works for you.

Once you zero in on the dream honeymoon package, swipe your EMI card to pay. The loan sanction happens in minutes, and your flight and hotel accommodation is all set.

Foreign honeymoon on a limited budget

So, do not shy away from planning a grand honeymoon on foreign shores. Whether you wish to go to Paris, Iceland, or even Mauritius, it is all within your reach. Book that fancy honeymoon package today. Then sit back and pay comfortably in easy EMIs over months.

You may need to buy appropriate clothes and footwear for the trip. As Bajaj Finserv has tie-ups with retail brands, you can fund all these purchases through EMIs.

In short, the EMI card allows you to stop worrying about the costs and focus on that dream vacation. This is the time to create some grand memories with your spouse. After all, honeymoons do not happen every day!

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Are you thinking of a wardrobe makeover, but can’t figure out how to handle the costs? The EMI card can come to your rescue

Do you stand in front of your wardrobe every morning and wonder what to wear to work? Do you waste precious time changing into and out of clothes that do not seem to work? If the answers are ‘yes’, then perhaps you need a wardrobe overhaul. Here are a few wardrobe makeover ideas for you?

How about stocking up on ethnic and traditional outfits, such as handloom saris and kurtas, for the upcoming festive season?

If Western wear is more of your style, you have a plethora of brands to choose from. Pepe, Wrangler, and Zodiac are just some you could consider. To complement your outfits, you may need smart accessories like handbags and footwear, too.

Here is a list of a few wardrobe makeover essentials:

  • Well-fitted jeans and trousers
  • A basic white shirt
  • A few fuss-free cotton saris and some silks
  • Smart t-shirts and a few formal pinstriped shirts
  • A black suit

But, how do you have a wardrobe makeover without digging deep into your pocket? Fret not! Equated monthly instalments (EMIs) may be the answer to your concern as the Bajaj Finserv card could give you a no-cost EMI option.

Advantages of a Bajaj Finserv card:

  • You do not have to pay any interest on the EMIs.
  • You can buy all kinds of products and services on EMI. Besides apparel and accessories, you can even buy furniture on your Bajaj Finserv EMI card and give your living space a makeover. The Bajaj Finserv product covers loans for travel and small appliances for your home as well.
  • You can buy the product and start using it. Then pay for it in convenient instalments over a period. So, it is easy on the pocket.
  • All you need to do is swipe the EMI card at Bajaj Finserv’s partner outlets. Some of the retail partners are UCB, Pepe, Wrangler, US Polo, Globus, Global Desi, Spykar, Puma, Adidas, Reebok, Arrow, Lawrence and Mayo, GKB, and Big Bazaar.

Wardrobe makeover on a budget:

With your EMI card, you can even go for a wardrobe makeover on a budget. Perhaps, you could buy a few essential items that you need using the no-cost EMI card. Then mix and match your outfits. Look out for special offers to add fun fashion items to your wardrobe.

How does the Bajaj Finserv EMI card work?

Users of the EMI card receive short, interest-free loans. The amount varies between Rs 30,000 and Rs 300,000.

  • You can repay the loan between three and 12 months, or even earlier, through EMIs.
  • You can use this card across more than 25,000 stores in over 250 cities in India.
  • You need to submit some documents to get this card: a government-issued ID proof, an address proof, a cancelled cheque, and a passport-size photograph.
  • Your card is likely to be delivered to you within two weeks.
  • So, you can now use these wardrobe makeover ideas and change your look with just a swipe. After all, if you look good, you feel good too!

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    Doctor Loan Blog Article

    Now Expansion For Doctors Is Easy With Bajaj Finserv

    Doctors are one of the most honorable professionals all across the world. India, as a developing country, is always in dire need of quality healthcare that spans across cities, towns, and even the smallest of villages.

    Whether you’re a doctor at a super specialty hospital or a small clinic, you are required to keep up with modern technologies and advancements in the field of medicine to provide the best possible service to your patients. Bajaj Finserv understands that establishing a self-supported medical career is quite financially challenging and is here to provide the much-needed financial support you require for your practice.

    Great Deals on Doctor Loans

    You can now buy that latest life-saving medical equipment that’ll make your work efficient, accurate, and easier with Bajaj Finserv Doctor Loan. And it gets better; the Bajaj Finserv Doctor Loan comes with new bonus features that you can now procure, along with the all existing benefits we offer to our privileged customers.

    Avail a loan of up to Rs.30 lakh, between the 13th of September and the 20th of September 2016 and win yourself a new Kindle.

    What is Bajaj Finserv Doctor Loan?

    The Doctor Loan is a loan provisioned for consultant and practicing doctors working in a private or government medical institution. You can provide that top-notch treatment and service that you’ve always wanted to with this loan.

    Also Read : How To Set Up Your Medical Practice With The Help Of Doctor Loan

    What does a Doctor Loan offer?

    Apart from the low rate of interest and quick loan approvals, Bajaj Finserv has a lot to offer.

    • You can get a loan of up to Rs.30 lakh—one of the highest amounts being offered by online financial institutions
    • You can easily avail the loan without the need for collateral or a guarantor
    • Flexible loan schemes are available with part-prepayment facilities at no extra charges. You can always re-avail this amount in a time of need, with no additional penalties
    • You can choose a flexible tenure period ranging from 12 to 60 months
    • Once your application is processed you have access to your personalized online account that holds all your loan information in one place
    • Bajaj Finserv offers pre-approved benefits from time-to-time to all its privileged customers

    How to apply for a Doctor Loan

    Whether you’re a graduate, postgraduate, or have an own clinic that you’ve inherited, you can easily apply for a Doctor Loan. Graduates and postgraduates require a minimum post-qualification experience of 8 and 5 years, respectively.

    A minimum salary of Rs.75,000 for Tier-1 and Rs.40,000 for Tier-2 are also mandatory. You’ll need to provide acknowledgements of Form 16 of the last two years, 3 of your latest pay slips, bank statements of the last 3 salaries credited to your account, educational qualification certificates, ID proof, address proof, and proof of own property-residential or office.

    Apply for Doctor Loan Online Know More About Doctor Loan

    Shop Smart Products

    Shop Smart: 5 Products that you can Buy on no-cost EMIs

    The internet and online retail have transformed how we shop. And no-cost EMI cards are transforming how we pay!

    Today, you do not need to walk or drive down to the store. Why would you?

    The store is right there on your mobile or your computer. You can access it anytime and anywhere. Besides, the number of products available boggles the mind. How can you not keep shopping?

    Yet, shopping does run up big bills. Pay by cash and you deplete your bank balance. Pay by credit card and the dues pile up.

    One smart way to shop today is by availing equated monthly instalment (EMI) plans. But, there is an even smarter way to shop: the no-cost EMI using the EMI card.

    Shopping on EMI

    In the old days, you postponed big purchases until you had the funds. Say, you needed an air-conditioner worth Rs 30,000 in May. But you had only Rs 16,000 to spare that month. There was nothing to do but sweat through the summer, until you collected the other Rs 14,000.

    The rise of EMIs changed this. You could buy the air-conditioner in May, when you needed it. You simply repaid the amount in fixed instalments.

    But an air-conditioner bought on EMI would typically cost a little more. Lender banks charge interest on the loaned amount. This interest rate commonly ranges between 12% and 15%. There may also be a processing fee on the transaction. These charges push up the cost of the air-conditioner. Instead of the affordable Rs 30,000, you ultimately end up paying a lot more!

    Shopping on no-cost EMI

    Can you eliminate this extra cost? You can, if you have an EMI card from Bajaj Finserv. You can then shop on no-cost EMI.

    Now, a no-cost EMI actually comes with absolutely no hidden charges. The EMI card gives you a loan with which to shop.

    Suppose you want to buy an air-conditioner available for Rs 30,000. Under a no-cost EMI plan, you pay only Rs 30,000. If the loan tenure is of six months, you pay six monthly instalments of Rs 5,000 each. And that’s it! Your dream air-conditioner is yours at no extra charges or interest!

    To know more about how it works, head over to Flipkart on ‘No Cost EMI Day’ this week. You can shop for no-cost EMI products if you have the EMI card. Here are some product categories available under the deal.

    Five Categories of no-cost EMI Products

    1. Mobile phones: Need a new smartphone to use for more shopping? There are several good buys here. Check out the modular LG G5 or the Apple iPhone 6S Plus.
    2. Television sets: The price tags on flat-screen LED TV can be scary. But a no-cost EMI plan may be easier on your pocket. On offer are big brands like Samsung, Panasonic, and Sony.
    3. Air-conditioners: Prepare for next summer with brand new split and window ACs. The brands include Blue Star and Voltas, among others.
    4. Washing machines: The humble washing machine has made doing the laundry so simple. Is your old one due for a change? You could look at both fully automatic and semi-automatic options. IFB, Haier, and LG are just some of the available brands.
    5. Kitchen appliances: Update your kitchen with air-fryers, dishwashers, and chimneys. Just remember the no-cost EMI scheme applies only to products priced Rs 10,000 and above.

    None of the above product categories comes cheap. That is why a no-cost EMI option seems like such a bargain. Moreover, EMI cardholders get a little gift on each successful transaction. They receive a 25% discount voucher from Jabong. And that makes the no-cost EMI deals all the more fun!

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