A Guide to Opening A Savings Account

A saving account is a basic bank account that lets you deposit your money, secure it, and withdraw it when needed. When you open a savings account, you get to leverage interest as well. While the rate of interest is less than the fixed deposit accounts, you get better liquidity. In this article, we are helping you open a savings account.

Choose the Best Savings Account

Not every savings account is equally lucrative. There are some major banks that offer merely 4-4% annual percentage yield (APY). But certain high-yield savings account offer interest rates of around 4% and 6%.

Therefore, shop around and compare the interest rates offered by different banks. While interest rates are important facets, there is more to savings accounts than interest rates. You will acquire more from your deposits if the banks compound the interest on a daily basis than doing the same monthly. Additionally, also check out the monthly fees charged by the banks.

Visit the Bank or its Official Website

You can explore the website of the bank to gather all the details with regard to the saving accounts. Here you will also come across different options banks provide in the same category. You can also visit the bank physically and gather all the information you need to open the savings account.

The Type of Savings Account

Banks offer different types of savings accounts to cater to various financial needs. Following are the types of savings accounts offered by the bank –

  • Regular savings accounts
  • Women’s savings accounts
  • Zero balance savings accounts
  • Senior citizen’s savings accounts
  • Kids savings accounts
  • Family savings account
  • Salary account

Each of these accounts come with a different set of objectives and requirements. Make sure that you understand what is offered in them before making the decision.

Submitting the Documents

In order to open a savings account, you have to provide identity and address proof along with two passport size pictures. According to the rules laid out by RBI, there are six different identified as “Officially Valid Documents” for “Proof of Identity.” These documents include –

  • Voter’s Identity Card
  • Passport
  • Driving License
  • PAN Card
  • NREGA Card
  • Aadhaar Card

You have to submit any of these documents to verify your identity. Some of these documents contain the address as well, so you present them; it can be considered as your address proof.

Fill the Form and Make an Initial Deposit

When your documents are verified, you have to fill an application and due diligence form. Once filled, add your signatures and photocopy of your KYC form. After you have submitted everything, deposit money into your account to get it started.

With the right and well-informed approach, you can open your savings account without any hassle.

Use the Internet to Help Your Business

How much do you and your business rely on the Internet to get the job done?

If you have not been using your online options too much, is it about time you changed this?

In being more active online, you have the potential to take your business to new heights.

So, is it time to get online and be more active?

Learning How the Internet Can Propel Your Brand

In using the Internet more often to help out your brand, start by thinking of all the information that is out there.

For instance, what if your business has been struggling when it comes to finances? You can go online and see what kinds of options are potentially available to you.

So, get on the Internet to see if you qualify online for a line of credit.

With such a line, you are in a better position to get the things you need to keep your business moving ahead.

From adding new equipment to the thought of expanding your brand with a bigger office, that line of credit can give you the financial muscle you need.

Another advantage of using the Internet for your business is when you are active on social media.

Some business owners in fact drop the ball when it comes to social networking. As a result, they miss out on opportunities to move their businesses forward. Don’t be one of those guys or gals that miss out on chances to improve their companies.

Among the sites you should look into if you’ve not been all that active on social media up to now:

  • Facebook – The leader when it comes to users, Facebook can help your business gain more traction with consumers. As an example, you can run contests on your FB page and more. Since many people use Facebook to stay in touch with outside family members and friends, this is a good opportunity for you to network among them.
  • Twitter – The third most popular site in the social media world, Twitter can help you in different ways. One of the advantages to using Twitter is that you will find many posts related to the business world. As a result, you can stay in touch with what is going on in your particular industry.
  • Instagram – Having surpassed Twitter not too long ago as the second most popular social site, Instagram is great for you when it comes to using imagery. If you have photos you want to post of your goods and services, this is the site to shoot for.
  • LinkedIn – When it comes to staying in touch with other business owners like you, LinkedIn is a great place to do so. Use the site to not only reach out to other business owners, but stay updated on what they are doing. By doing this, you can pick up some good business pointers.

By being socially active, you have a myriad of opportunities to get new business and continuing existing customer accounts.

When you are searching for a model of success, you need look no further than the Internet.

If your business has not been online all that often as of late, it is the right time to change this moving forward.

Why Learning about the Basics of Money Can Save You from a Life of Financial Instability

In the ever-evolving market dynamics, understanding the basics of money can save you from financial instability. Understanding the basics of money involves realizing your earnings, figuring out what your tax bracket is, debt, and credit management. With modern technology, money does not necessarily mean liquid cash in your wallet. As online shopping continues to be a consumers’ favorite, e-wallet significantly affects how we spend, borrow, and save. With such ease of access, the need for financial literacy cannot be stressed enough.

The question, however, is what happens when you don’t the basics of money? Below is a look at why learning about the basics of money is essential.

You become self-sufficient

Understanding the basics of money allows you to devise money management techniques. That way, you can utilize your earnings in an informed manner and avoid borrowing unnecessary funds. Among the financial drawbacks is spending more than you earn.

With the readily available debts access and financial illiteracy, the chances of over-borrowing are high. As you learn the basics of money, however, you become aware of your spending habits, short term, and long-term borrowing. With such knowledge, you can efficiently eliminate the unnecessary habits allowing you to save more and become self-sufficient resulting in financial stability.

Understand the impact of financial choices

Without a clear roadmap, your capability to make a sound financial decision becomes difficult. In your pursuit for financial services, therefore, you are likely to make choices that hold negative implications on your financial performance.

You need to understand the basics of money to develop a financial roadmap that includes your earnings, spending, debts and credit and how you can effectively manage them to achieve your goals.

Gain the right attitude

People who spend unwisely due to financial illiteracy such as spending before earning hold a negative attitude towards money. This is primarily due to the lack of enough money to sustain their needs. It is from such frustrations that their attitude and behavior tends to drive them astray leading to financial instability.

With the basic knowledge about money, you get the right attitude towards money, develop practices that lead to wise money usage and saving and develop the motivation to work harder and smarter towards your goals.

Understand financial products

The financial market provides lots of choices for the consumers ranging from government funds and policies, credit unions, banks, brokerage firms, insurance firms, financial planners to mention a few. From their services, consumers can be overwhelmed, and without financial literacy, make uninformed decisions.

Most of such financial services such as mortgages, savings programs among others have a long-term effect on your financial stability. Before settling on a particular product, you need the basic understanding of your financial status to ensure that your choice does not negatively affect your financial performance as it may lead to instability owing to its long-term commitment.

Financial instability comes with a myriad of effects such as divorces, ruined relationships, low self-esteem to mention a few. For you to effectively evade such consequences, you need to understand the basics of money to ensure that you avoid financial mistakes that could frustrate your financial stability.

8 Relentless Financial Factors Hindering Growth & Profits of Business

One of the reasons so many small businesses fails the first year of operation is because their owners don’t know what it takes to make their business run and grow. Their notion is that their work ethic alone will bring them money, freedom and control of their business. They fail to understand that financial factors mentioned below are not worth paying attention to if their business is single-handedly run. They are wrong!

  1. Not Creating A Financial Blueprint

Financial blueprint, just like a business plan, is where all the finances related to the business is put together. This includes business startup cost, cost of procuring materials, equipment, place and personnel and transportation among many other things. A financial blueprint will describe the source of fund, such as banks, credit unions or other financial institutions, who your investors are and how much of the personal asset will you set aside for the business. Not having this blueprint is equivalent to showing to the lenders that your business is a bad risk.

  1. Not Investing In Technology

It used to be such that all a business would need is a telephone and fax machine. Not anymore. Today, every business irrespective of its size and mode of operation needs a computer and access to the internet, a full-pledged website where customers and clients can interact with the business, software to manage accounting and other mandatory operations and other technology related elements. There is a need to manage the information accumulated and make the best use of the collected customer data as well. Not investing in technology can set you back and cost valuable clients, information and all the good things the modern world offers.

  1. Non-utilized Fund

The goal of your business is to make a profit and grow at the same time. It is also to build a long-term relationship with your clients and create excellent customer satisfaction. When you are short on the fund, your lenders will help you get through. However, you can always utilize fund from your business account and reduce your interest and borrow only if absolutely necessary.

  1. Unprotected Business

You will need to protect your business as well as employees for which you need adequate insurance coverage. To be precise, property insurance, liability insurance, workers compensation insurance, assets and errors insurance and omissions insurance are some of the required insurance types. Without them, your business will suffer financially. In essence, keeping the coverage up-to-date will make the difference between closing the business permanently and running it with a minimum possible loss.

  1. Neglecting Compliance

Neglecting such significant issue like compliance can put companies at risk which can harm their reputation as well as the brand. The company should avoid such consequences or should take immediate actions to avoid further damage. Similarly, to avoid decreasing customer base, the companies could outsource to handle the operations such as legal fee financing,  & helps to run the transactions smoothly.

  1. No End Goal In Sight

Financial setback can occur when you are not sure where your business is headed and what you can expect in two years, three years or five years down the road. You started with a vision with the intention of making it a reality. The hard part is, only goal-oriented businesses survive and grow in a competitive world like this. You need to put in place the goal-setting system to make the business successful. You will also need to gather the team that will help your business grow. This vision or goal needs to be created, first inside your own mind and then put into action with preparation and planning. If you are leading the business this way, you will find that creating that goal and achieving in the outside world is easier than dreaming.

  1. Unorganized Worksite

Good business owners are organized, punctual detail oriented and neat. They will not end their day without a balanced financial statement. In other words, not being organized will lead to huge financial loss. You would probably end up with the wrong information about how many sales were made and how much money was earned or lost. If someone is organized, it means they are using the needed software or balance book to the fullest. It also means they have the knowledge, skills and are financially responsible that will help the business succeed.

  1. Stubborn Attitude

Change is something every business faces, and adapting to that change is a prerequisite to run a business, not an option. Simply managing the business to stay alive is not adapting to changes. Certainly being adaptable means money well spent or saved for the future. The only way to do this is to check the progress frequently and consistently and make sure the goals are closer. Running a business is about making an honest assessment of what aspects are working and what are not working and changing accordingly.

How-to Quest: Optimum Utilisation of Disposable Income

Despite its name, disposable income is not the money you throw away in your trash. It is the amount of cash left over from your current salary after paying all the local, state and federal taxes as well as insurance and pension fund contributions. If you think of this cash as disposable and therefore something to spend on indulgent or frivolous items, it’s a dangerous trap for your life.

If you are a starter, you will need to pay off all the necessary charges such as your mortgage, rent and utility bills as well as other regular payments. You will still need to spend your disposable income lightly, even after paying off all the necessary charges. Everybody understands that it is essential to have fun with your family and friends, splurging on nights out or holidays once in a while is a perfect way to treat yourself, your family and friends.

However, there are many ways in which you can utilize your disposable income such as paying for your term insurance that will benefit your future than your present. Even if it is a small amount of cash, there are many sound ways to put your money to excellent use. You can invest your disposable money in various sectors which include real estate and investing in precious metals such as silver and gold. Here are the tips you can use to utilize your disposable income in an optimum manner for the betterment of your family and business.

Pay Off Your Debt

Paying off your debts is probably the least enjoyable way to spend your disposable income since you will not have anything essential or tangible to show for it. However, paying off your debts provides you with one of the excellent returns on investment.

If you pay a certain percentage of your disposable income on your credit card balance, it means that you will be in the position to reduce the debt over the coming years. If you are not able to pay off your balance entirely, putting some cash toward it will help you lower your future payments as well as the remaining balance.

Save for Your Future

Saving for your future is among the logical things you can do with your disposable income. You should understand that the saving does not mean putting it in the sock drawer and leaving it for the rainy day. It means depositing your cash in your bank account that will ensure that your money grows.

Currently, most individuals do not have savings at all, which is an unfriendly situation to be in when the worst happens to you. By putting some of your discretionary cash into a savings account, you’ll be maximizing its return on investment without having to lift your finger. If you have this cash sitting safely out of reach means that it is available when you want to access it.

Invest in Your Home

Your home is the single most significant asset you have, and it can be quick and easy to fall behind in upkeep and maintenance. Using your disposable income to renovate and improve your current home can potentially help lower your monthly utility expenses and raise your property’s value. Spending your discretionary income on insulation or windows can significantly lower your cooling and heating expenses which will help improve your bottom line across the year.

Take a Vacation

Currently, there is nothing essential than your relationship with the family. Spending the disposable income on an enjoyable and affordable vacation with your family is a perfect way to reconnect with the individuals you love most. You’ll come home feeling energized and refreshed, which will improve your performance at work.

If you have disposable income, you should think twice before going out to purchase something you have been dreaming of. Also, you should understand that there are other options that will provide you with higher returns on investment.

Invest in Your Education

Spending some of your money on education is a perfect way to utilize your disposable income. Currently, there’re some courses you can pursue that will support and help you advance within your current career. Also, setting out on a different career path can be a great way to spend your leftover money. Investing in your education is a perfect way to boost your earning capacity as well as helping you find a career that’s both financially rewarding and personally fulfilling.

Similarly, if you are a parent, you are likely concerned about college expenses even if your child future by opening tax free plans ensures that you can comfortably pay for your child’s tuition in the future. You should continue adding some cash to your plan, and by the time your children graduate from school, they will have enough cash for their tuition.

Boost Up Saving Tips To Restore Bad Credit

Living with bad credit is not easy. If you have a history of bad debts, banks can turn you down for a mortgage or car loans, insurance companies can charge you more to get insurance for your vehicle, and you can even be required to put up a significant deposit before getting your gas or electricity turned on. Not to mention that some employers also pull your credit report before they choose to hire you.

Then there’s the inconvenience factor. Need to rent a car? Lots of luck without having a major credit card. Need a replacement car for your old clunker? It’s not impossible to get financing for a used or even new car, but you’ll pay a pretty penny in monthly interest charges. The same goes for buying a home. There are firms and individuals who will lend you the money, but not banks, who were affected by the mortgage loan debacles of the 2000s.

Here are several tips for repairing your bad credit:

Get your free credit report

By law, you are allowed to get a free copy of your credit report. But beware of fraudulent websites that seem to offer you a credit report, only till later do you realize they do in fact charge. If you want your 100 per cent free credit report guaranteed by law, you need to instruct your browser to go to

What if you own a business

Credit affects businesses too. And when a business needs a new piece of equipment, needs to relocate to a better area of town, often banks have very tight policies on business loans. To avoid dipping into your personal credit allow you to borrow on your invoices, in order to free up needed capital for improvements. This form of borrowing on your invoices is called debtor factoring. It helps in reducing the cash cycle as it enables businesses to release their cash invoices. Ultimately, debtor factoring accelerates growth. However, there are other such resources that help in controlling cash flows.

Consider paying for all three credit reports

The three major credit rating companies are Experion, Equifax, and TransUnion. If you are mystified why you got turned down for a loan, chances are, one of the companies rated you differently than the other two. Find out why?

Dispute any errors on your account

Errors, such as a company reporting a charge-off that you in fact paid, and in a timely manner, do occur on credit reports. Or maybe the company even has you confused with someone else with the same name. Be sure to challenge any errors, in writing. When you order a credit report, there are instructions on how to dispute errors. You also have the legal right to challenge errors reported on your credit report, direct to the company involved. By law, they are also required to investigate their original information.

And after having the error cleared, the credit rating company should not only issue you a new credit report but also notify the other two of a successful resolution of an item on your original report.

Pay-off or make current any delinquent debts

If a debt is under 180 days old, you can either start making pay payments or even better yet, pay off an account in its entirety. Your payment history makes up a little over one-third of your FICO score, so any accounts you can make current or pay-off will significantly affect your score.

Pay-off charged-off accounts

Although they can continue to show up on your credit history for several years, paying off charged-off accounts can open up new opportunities to get credit, where they were previously closed. Your credit reports will reflect that you paid off the charged-off account. Also, it might be possible for you to negotiate with the company you owe debts with to accept a lesser sum, than the total to clear off the entire amount. Figuring some money is better than none, and knowing how expensive lawsuits are, chances are they will go for it.

Bring high balance accounts down

Your credit utilization makes up another significant chunk of your Fico credit score. If you have one or two credit card accounts that are heavily leveraged, try to bring those down. They are costing you not only plenty of interest but points on your credit score.

Try to bring loan balances down

Even if you have been paying on time if you borrowed $2,000 through purchases on a credit card and three years later, your balance is $1900, this is costing you valuable points on your credit score.

Focus on getting past due accounts in control first

Chances are, you only have a limited amount of money to dedicate to debt control. Therefore, prioritize and do your best to keep any future accounts from falling into past-due status.

Driving Crypto Exchange Increases Margin Trading Leverage for Bitcoin, Ethereum, Bitcoin Cash, Litecoin and EOS

Malta-based OKEx, one of the biggest crypto trades by volume, is expanding its edge exchanging influence level from 3x to 5x for Bitcoin, Ethereum, Bitcoin Cash, Litecoin and EOS.

The trade says it will utilize its hazard the board framework to control higher exchanging volumes and to permit the influence level increment.

Exchanging sets offering 5x edge exchanging influence

  • And so on/USDT
  • And so on/BTC

By volume, OKEx is presently the second biggest crypto trade for spot exchanging, overshadowed just by Binance, as indicated by information incorporated by CoinMarketCap.

Top 4 Bitcoin Exchanges by Trade Volume

Top 4 Bitcoin Exchanges

OKEx first propelled spot edge exchanging last February for ETH/BTC, BTC/USDT and XRP/USDT.

Edge exchanging enables clients to use their position and make a short position by getting tokens. While the training is a shelter for dealers, it can prompt sharp misfortunes.

Says Lennix Lai, money related market executive of OKEx,

“The excellence of edge exchanging is to utilize obligation to augment the potential return. However, I might want to remind our clients to exchange edge with alert. Since edge would too misrepresent your misfortunes.”

The expanding number of spot edge exchanging choices exhibits how much crypto exchanging stages are beginning to look like customary financiers where edge exchanging is the standard. Various well known crypto exchanging stages offer edge exchanging, including eToro, Kraken and Bitfinex.

A year ago Poloniex expelled edge exchanging for US-based clients.

BitMEX is the greatest crypto subordinates trade, offering influence up to 100x on its day by day Bitcoin/JPY fates contract and the ceaseless Bitcoin/USD never-ending contract.

Spot edge exchanging, nonetheless, isn’t right now bolstered by Binance or Coinbase Pro, two of the biggest crypto trades.

Keeping Your Home Business Taxes In Order

Running your own business is not easy. The hours are long, the work is difficult, and the clients and employees are a story for themselves. So, in other words, you need every break you can get, and any mistake you make should be minimal. That’s where keeping your taxes in order comes in. A simple concept really, it’s just common sense. And yet everybody does their taxes at the last moment, skims through the paperwork, and basically does it only if they have a metaphorical gun to their head.

But handling your taxes for your home business can not only save you from possible headaches but can even get you benefits and write-offs. Below you can read some advice on how to get your home business taxes in order. And note that these, of course, vary from country to country, and from region to region, but the core ideas of this article are pretty universal.

You are eligible for a workspace write-off

One of the first things you can do is write off your home office. If you are in the line of work that allows and necessitates that you are constantly in the same room every day, then you can write it off. You can also write off a part of a shared room, the rules are pretty much similar. Namely, the space you are using is calculated as a percentage of your home’s total area. Then you apply this to the utilities, costs, insurance, rent… Now, of course, you must be honest. Don’t fudge the numbers, and don’t include things like fancy paintings or artwork that you don’t really need.

Getting a proper tax depreciation report done can also show just how much money you can actually save and write off. It can essentially present to you by how much you can lower the amount of taxable income you have.

Don’t forget about your retirement

Don’t forget to pay into your social security and your health insurance, however, know that you can get a certain amount of contributions you pay in reduced, while still keeping the same results. You can fund your own retirement plan specialized for self-employed individuals. Know that getting a good accountant can always help you a lot.

Keep a journal

Audits are no joke, and they happen. Still, if you are honest, and have kept your books in order then there’s nothing to worry about. The last thing you need is to get audited without any record of your business dealings. Essentially keeping a daily log of your home business activities can save you from any unnecessary unpleasantness. So, write down receipts for the paper you bought for your printer, do the same for your phone calls, mileage, and any other payments made by your home-company.

Business trips, not vacations

Now, we’re not saying that you should lie when reporting this kind of things. But just because you’re having some fun on a trip that is all about networking and professional self-improvement doesn’t mean it can’t be considered a business trip. On a business trip, all your travel expenses and some percentage of your food percentage are tax deductible. Just remember to justify these expenses properly, keep receipts, tickets, seminar invitations, and mileage tracking records after your trip is over.

Don’t just pay, employ

Many home business owners have family members who take part in their business. They provide their services and then get paid. However, what people forget to do is to actually employ, not just pay, their family members and friends. What we mean by this is that it can actually be cheaper, tax-deductible, and carry many more benefits if you fully employed the people that are helping you.

Get your office set up

Know that getting new office furniture, a new laptop, software, printers… is tax deductible. Of course, there is a limit to this, and the things you buy must be used regularly (majority-usage) and be actually directly useful for your business. So, a new laptop and office chair is ok, but a widescreen TV not so much.


All the rights and obligations surrounding taxes fall onto your home business as much as they would on any megacorp. Now, the obligations part is pretty obvious, but people forget just how much they can write off, and how much assistance they can get.

Stretch Your Budget and Save For Emergencies

A survey from Solution Loans, a leading online finance broker has shown that 60% of people in the UK have less than £1,000 saved for emergencies such as a dishwasher or boiler breaking down. More worryingly, slightly over 10% of Brits have no savings of any kind for this this kind of scenario.

In the UK an average replacement boiler costs over one thousand pounds. Whilst this shouldn’t be a regular expense (boilers typically last around 15 years)  anyone who’s moved into a house with an older boiler could be looking at having to replace it at short notice.

The study did however reveal that almost a quarter of Britons have over £5000 in savings to cover an emergency, enough to repair their roof if it came to it. However, this varied heavily across age groups with just 7.7% of those aged 18-24 with this level of savings whilst 37% of those aged 55 and over had this level of savings.

What can people do to help build up the kinds of savings required? Here are some simple tips:

  • Make a budget each month and stick to it. Ensure that your outgoings don’t exceed your income. Save anything that’s left over
  • Cut down on expenses as much as possible. Not drinking that coffee every day and taking a pact lunch to work are good ways to reduce costs. If possible, make saving into a game to make it more fun and keep it foremost in your mind.
  • Live within your means by shopping smart. Bargain hunt and take advantage of two for one offers.
  • Keep on top of credit cards and pay off as much as you can afford every month, ideally the full balance as this will prevent you from being charged.

Many people can fall into the trap of not saving sufficiently, and then borrowing money when problems do occur. Whilst borrowing can be a sensible way to manage finances, if a household is under pressure to make emergency repairs to an item then this can mean that the financial implications of borrowing aren’t thought through carefully.

Amanda Gillam from Solution Loans said: “Whilst saving isn’t always the most exciting thing a person can do with their money, its vital that if people can save that they put something aside for when times are hard. It’s important to consider the consequences of being caught out if something goes wrong at home and a household item needs to be replaced or repaired.

“Whilst borrowing money can help meet these short-term needs, in some cases unplanned borrowing can lead to people getting into financial difficulties over time. By simply putting away a small of money each month people can avoid these potential problems.”

When and Where to invest,in this jungle of investment???

Many times we think about Should we invest Now ? Where to invest ? Does it matter lot in which investment avenue we invest ? Lets get a brief answer of all these questions…

Financial world has very important concept of Compound interest which is described as “the eighth wonder of the world” and “the most powerful force in the universe” attributed to Albert Einstein. Compound interest is the interest earned, not only on a loan or investment but also, on the interest previously earned.

Because of this compound interest, a delay of few years can dampen your returns like anything in long run. As the magic of the compound interest can be seen only in long run.

Let’s take an example to of 2 friends Nihar and Alpesh to understand the things. They both started working and joined company together at the age of 20.

Now let’s see first Case of Nihar

As Nihar understands the importance of investing early and benefits of compounding so he spends less money on entertainment and makes sure that he is investing Rs. 50,000 every year.

On this investment Nihar gets 10% return on his investment every year. At the end of 10 years, the accumulated amount is now Rs. 7.96 lakhs. (5,00,000+ 45000+40000+35000+30000+25000+20000+15000+10000+5000). However, due to some issues, Nihar is unable to save more money now but he doesn’t touch the accumulated invested amount. He keeps the amount (Rs. 7.96 lakh) as a fixed deposit in a bank at 10% interest rate till he gets retired at the age of 65. Nihar does not make any fresh investment. The interest keeps on accumulating on Rs. 7.96 lakh till 35 years. Finally at the age of 65 years, he gets Rs. 2.23 crore.

Now let’s see 2nd case of Alpesh

Alpesh spends a lot of money and doesn’t believe in investing early. He starts investing after 15 years when he is 35 years old and invests with discipline for next 30 years. He regularly invests Rs. 50,000 each year till he is 65 years old. Just like Nihar, Alpesh also gets a return of 10% per year. Now at the age of 65, he gets a maturity amount of just Rs. 82.24 lakh.


Yes, even though Alpesh invested 20 years more and Rs.12 lacs more than Nihar.Niharinvested regularly for only 10 years but Alpesh invested regularly for 30 years. However, Alpesh gets Rs. 1.41 crore less than Nihar. This is almost 63% less.

Therefore, it is important to invest early to get the benefit of compounding.
When we invest early in our lives, the amount keeps growing at a specific interest rate. At the time of maturity, it becomes a big chunk. This is because the growth in amount in later years is lot more, compared to the initial years.

Now we know early investment is very important to build huge money but the other important thing to build huge wealth is returns in long run. Even a difference of single % has huge affect on your wealth in long run.

We suggest to invest early and that too in best returns providing assets for long term. Invest in best stocks to buy as stock market gives highest returns. Stock Market can give returns ranging from 15–25% CARG depending on the product you selected. Now you will think what is the need to invest in stock market as in long term all assets gives fabulous returns because of compounding.

Then my dear let me clarify you one thing even a difference of single % returns in such long period makes huge difference lets understand this also with the help of example.

Now again assume Nihar and Alpesh started together and both invested together 1,00,000 for next 45 years. But now here there is slight difference in returns they are getting. Nihar invested in the 10% returns providing asset and Alpesh invested money in 9% returns providing investment i.e. difference of only 1%.

Now at the end of 45 years here Alpesh will get 57 crores andNihar will get 90 crores. Yes Just the gap of 1% in returns and difference of 36% in final amount.

Now after reading all this you must be thinking to invest as early as possible and as discussed above, stock market is the best returns providing investment option and one more thing in long run Stock market not only provides highest returns but that returns are with lower risk as risk reduces over the long term horizon.

Now which stock to buy in the jungle of so many stocks ??? You can invest in Indian Multibagger Stocks (stocks of the companies with small market share in their industry and which are expected to grow at abnormal rates) and you can also invest even in Value Stocks (Beaten down Stock of the companies that are market leaders in their industry).

Now as this investment is a deep subject so the new question comes is Multibagger Stocks or Value Pick Stocks ? It is not like which is better among both , as both are good but selection is made according to your risk return profile. If you have high risk return profile then go for Multibagger Stocks as these are high momentum Stocks and such companies looks bright initially but may fail even but Value Stocks are very safe kind of stocks for investors with low risk return Profile.

If you have good investment capacity then make investment in both the types of stocks, ratio depends on your risk return Profile and this will give you best investment plan i.e. (Multibagger Stocks + Value Stocks) more the risk taking capacity more proportion of Multibagger stocks and Vice Versa.

Get Your Business Loan Application Approved with Bad Credit

Contrary to what you may think, you are still able to get a business loan even if you have a bad credit. The choices for applying will be limited, but still, you will be able to access a number of lenders. This is possible since these lenders don’t only observe your credit history, but also review other aspects of your business.

Revenue, operating history, potential, and other parameters are what these lenders take into consideration when reviewing your loan application. A bad credit score implies that you weren’t so good at managing your finances in the past or you are a young business. But the economy is constantly changing and so does these rules, which means that there are lenders who are willing to give you loans.

Check your business credit score

To check the status of your business credit score and correct any possible mistakes within this data, use the credit bureau. Inaccuracy tends to happen and if not caught in time, it can negatively affect your overall credit score. There are also companies that can do this for you by reviewing the reports and comparing them with the collected data.

If you plan to take the loan in the future, knowing your current credit score will help you improve it. Also, it will give you an insight into the options you have at our disposal for getting a loan and type of lenders.

Prepare your documents

Although the needed documentation will vary from lender to lender, there are some basic documents you should acquire before applying for a loan. This will include your bank statements – personal and business, net income, general business information, information about your clients, partners and customers.

It would also help to have recommendations and testimonials from the individuals or companies that worked with you or used your services. Not all lenders will include these officially in their decision, but it will give them a more clear picture of you as part of the community.

Consider microloans

If you are a start-up or fall under the specific group of businesses, then you can apply for the microloan. These loans are specifically designed to help thriving businesses from the disadvantaged areas or rural regions. They come from non-profit organizations and have no interest rate, but in turn, these loans are small usually $50,000 or less.

A home equity line of credit

A home equity line of credit is a high-risk option that is intended for business owners who also own a house. Basically, this means that you will use your house as collateral for a bank loan which can sometimes be quite unfavorable.

The market changes and you may get into financial trouble before you pay off your whole loan. In this case, if you don’t pay your installments in time the bank can take your house and sell it to cover your debt. Consider this type of loan only as the last resort and when everything else fails.

Seek investors

Finding investors is one of the options you can use when you have a bad credit score. They may also require to review your financial records and credit score, but are more likely to give you the funds you need. However, keep in mind that investors may have their own conditions which sometimes may not be appropriate for your business.

If this is the case, ask family and friends to give you a loan and thus become investors in your business. Additionally, prepare your offer for the future investors that will be agreeable for all parties involved. This way you will be ready to negotiate the terms of their investment and improve your business plan.

If you are a young business

Being a start-up business with barely a year of revenue behind you is going to make it hard for you to get a loan, regardless of bad credit. You can use startup financing options which are specifically designed for young entrepreneurs. Another option is getting business credit cards which will allow you to borrow a certain amount of funds but based on your personal credit score.

However, from then on, you should pay close attention to how you manage your finances in order to create a good credit score. Use the credit cards responsibly and organize your budget beforehand, so that you can leave a positive impression on your future lenders.

Research the lenders

Before you start applying all around, take into consideration that preparing documentation will be an expense. Instead of wasting your money, do some research and assess the potential lenders you can ask for a loan even though you have a bad credit score. Family owned lender companies like EFT finance businesses based on their comprehensive performance on the market, and not only their credit.

Traditional bank loan

When it comes to banks, your options may be quite limited for a loan although not impossible even with a bad credit score. But the conditions for the loan will be a little bit different for you and that is something you should ask about before applying. Namely, the interest rate may be higher and you will have to provide more collateral then businesses with good credit score.

To make sure that this is not something that will get you into financial trouble, calculate all fees and costs. Add this figure to the borrowed sum and you will calculate your monthly payments and overall value of the loan. However, keep in mind right from the start that your fees may be higher and the payment period shorter.

In the end

When it comes to loans of any type, it’s important not to rush into them without knowing all the facts. Even businesses with bad credit scores can apply for loans under slightly different conditions and requirements. Before you decide on the lender, do your research and examine all the offers available for you in order to make the best possible choice.

In the end, it’s important to find the solution that won’t affect your business negatively or get you into financial troubles.

WinTech Rapid Tooling – The Reach of the Plastic Molding Industry

In Mainland China, the plastic molding industry is one of the benchmarks of the strong economy of the Asian nation. You can get a simple idea of how big this business is just by taking a look at anything you have near your reach that is made of plastic. The chances are that you will find the old classic “Made in China” printed at the bottom or to the side of it. This is not exactly new: the country is known for having a very profitable manufacturing industry that is projected to keep growing steady for the next 3 years and generating earnings for at least $163 billion worldwide.

The Power of Economics in a Very Competitive Market

This very fact has made difficult to avoid the realization that plastic injection molding has had quite an impact on our everyday lives and we probably are not even aware of it. The markets that require our services most frequently are the ones related to vehicular transportation (either by air or ground). The medical industry also requires plastic molded parts, especially on everything related to prosthesis developments. Nearly all the items found in the sports industry require some sort of plastic molding tolling to be manufactured.

Certain industrial materials are often designed and crafted using plastic molding such as pipes, filters, lever mechanisms, etc. The toy industry it’s also big on plastic injection molding procedures, mostly due to the fact that toys have become more intricate and complex as the years go by. A lot of electronics also demand the services of this market since almost all the encasing of modern devices are cast out on plastics. Even the food industry has embraced our designs to keep their products fresh while designing more intricate packages that can sell their products while making them visually striking for their customers.

Professionals Ready to Deliver on Request

In WinTech Rapid Tooling we are very much aware of this fact, and as such we are willing to go above the call of duty to make our clients’ feel happy and secure with our services. Since our goal is to craft out the best articles on any project brought by our clients, we employ the best designers, and the most efficient tooling engineers and technicians. They work alongside a team of mechanics to handle the right logistics of each order as well as the supervisor and managers that help out to keep everything on schedule.

As you probably have realized by now, being able to achieve great numbers in this industry is by being able to deliver on our offerings and working clean deals with our clients. In WinTech Rapid Tooling we make use of some of the best-regarded resins to get our products done, such as POM, TPE, PC+ABS or special materials such as PPS, PEEk and PPS+30%. We work with the most reputed providers of these components on the world such as Sabic, Dupont, and Bayer. While it’s still being revised, we are also looking to work with some green materials such as biodegradable biopolymers.