Gold has been utilised as collateral in the financial market long before the existence of any loans. Previously, individuals used to pledge their household ornaments or jewellery as mortgages to secure funds to meet their needs. Likewise, pawnshops used to keep valuables, especially gold, as collateral to lend money to those in need.
Nowadays, financial institutions have also started offering loans. Unlike any other advance, loan eligibility is not very strict, and the documents required are also nominal. Also, the loan processing time is also comparatively much shorter than other secured advances. Following is a look at the eligibility requirements for a loan and other related details that testify to the benefits of this advance.
Eligibility criteria for gold loan
Since a gold loan is a secured loan, there aren’t many restrictions attached to its eligibility factors. Therefore, you can easily avail a loan if you are:
- A salaried or self-employed individual.
- Between 21 to 70 years of age.
- In possession of enough gold assets to avail an advance against their value.
Apart from the above two factors, the loan amount you can avail of depends on the ‘Loan to Value’ (LTV) ratio. The Reserve Bank of India has set the LTV cap at 90% in case of loans. Therefore, the purer quality of gold you keep as collateral, the higher will be the loan amount you can avail.
You also have to keep in mind that financial institutions accept gold as collateral only in jewellery or ornamental forms. Gold bars and coins are not accepted as collateral.
Documents required for gold loan eligibility
After complying with the eligibility factors, you will also need to submit a few documents to avail the advance. Following are the documents that you will need to present:
- Identity proof: PAN/ Aadhaar/ Voter Card,driving license,passport, etc.
- Address proof: Ration/voter/Aadhaar Card,passport,bank passbook, etc.
You might also need to present your income proof along with the above documents if the lender requires it.
Thus, availing of a loan requires nominal paperwork and documentation. With just these few gold loan documents, you can secure a loan to back you up at the time of your crisis.
Following is a comparison of gold-loans and personal loans to gain perspective on the benefits of the former advance over the latter.
- Both loans can be used to meet any expenses.
- Both of the instrumentsrequire nominal processing time and fee.
- Gold loans fall under the secured loans category, while personal loans are unsecured.
- A personal loan does not require pledging any collateral, while it is necessary to mortgage gold ornaments to secure a gold loan.
- Periodical payment of only interest is possible while availing of a gold-loan, while it is not allowed for personal loans.
- G loans are usually short-term in nature, while personal loans can be repaid over a considerable tenor.
- Interest charged at the time of repayment is much less in the case of a loan than a personal loan.
- You can choose your monthly instalment amount according to your convenience for a gold-loan. Whereas with a personal loan, you have to pay based on your principal amount and interest rate.
- Gold loan eligibility does not abide by stringent policies and documentation. But securing a personal loan might require borrowers to prove their credibility and maintain a high credit score.
Thus, loans make for a much more viable source of financing, owing to their ease of accessibility. With NBFCs like Bajaj Finserv offering loans against easy-to-meet gold-loan eligibility and nominal documentation, individuals can avail the funds to meet any number of financial requirements.
Common Data Fabric Uses
Common Data Fabric (CDF) is a platform that allows for the sharing of data between different applications and platforms. It can be used for data integration, data warehousing, data governance, and more. CDF can be used by businesses of all sizes and industries. Some of the benefits of using CDF include easily sharing data between different applications and platforms, quickly and easily integrating data from different sources, and easily creating data warehouses and data marts. Today, we’ll examine Common Data Fabric and some of the most common uses for it.
Storing and Managing Data
One of the more common uses for a CDF includes storing and managing data. A CDF can be used to store data in various formats, including XML, JSON, and CSV. This provides many benefits for businesses. For example, it can make it easier to access and query data and make it easier to manage and update data. A CDF can also be used to store data in a data lake. This can provide businesses with a centralized location to store all their data. This can make it easier to access data and make it easier to analyze data.
Analyze Data for Insights
A Common Data Fabric is frequently used to analyze data to get insights. These insights are useful for numerous scenarios, such as understanding customer behavior, improving marketing campaigns, and detecting fraud.
For example, consider a business that wants to understand how its customers interact with its products. By analyzing customer data using a CDF, the business can identify patterns in customer behavior. This information can then improve marketing campaigns, products, and customer service.
CDF is a streaming data fabric that helps enterprises make better decisions faster by providing a platform for real-time data streaming and analytics. CDF is designed to handle massive volumes of data and allows users to quickly and easily build streaming data pipelines and applications. It provides a single platform for data ingestion, processing, and delivery, making it an ideal solution for enterprises looking to streamline their data infrastructure.
CDF is a highly scalable platform that can easily handle large volumes of data. It offers a variety of connectors for data ingestion, including support for streaming data protocols like Kafka, Kinesis, and Storm. This allows users to quickly build streaming data pipelines that can handle large volumes of data.
Master Data Management
Another common use for a CDF is a secure data management platform that enables enterprises to centrally manage and govern their data across the enterprise. As a Master Data Management (MDM) tool, a CDF can play an important role in an organization’s data governance strategy by providing a secure and centralized platform for managing data.
MDM is the practice of managing master data, which is data that is used across the organization. For example, customer data is typically master data, as it is used by marketing, sales, and customer service departments. Master data is important for organizations because it helps ensure that data is consistent and accurate across different departments.
A CDF can be used as an MDM tool to help organizations manage their master data. The CDF can provide a centralized platform for managing data and help ensure that data is consistent and accurate across different departments. The CDF can also help automate managing master data, which can help reduce the amount of time and resources needed to manage the data.
Using Common Data Fabric
A Common Data Fabric is a data store and management system that enables companies to store and manage data more effectively. It provides a common platform for companies to store and access data, which helps to improve collaboration and data sharing. A CDF also makes it easier for companies to analyze data and make better decisions. As you can see, there are many uses for CDF in business. So, if you want to make the most of your data management, consider a CDF.
A Guide to Using a Housing Loan Interest Calculator
The Reserve Bank of India has decided to keep the repo rate and reverse repo rate unchanged for the 8th time to recover the Indian economy that had been massively affected due to the pandemic. This decision brings relief for homebuyers planning to purchase a property by taking financial assistance.
With the repo rate unchanged, the housing loan interest rates have significantly reduced, encouraging borrowers to purchase houses at reasonable pricing. In this case, a housing loan interest calculator is a beneficial financial instrument that will evaluate monthly instalments and payable interest against their loan.
What is a housing loan interest calculator?
An interest calculator or housing loan EMI calculator is an effective financial tool that allows borrowers to calculate EMIs of their home loan conveniently. Using this calculator beforehand will allow individuals to make an informed decision before applying for a loan amount. This calculator also performs as an interest calculator as it also provides the interest amount to be repaid against your loan along with the overall EMIs.
To know the usage of this home loan interest calculator, individuals need to follow the steps below:
Step 1- Input your preferred loan amount
Step 2- Now, input the applicable interest rate
Step 3- Finally, input the loan repayment tenor
After completing these steps, the calculator will display the EMI amount along with other essential information, such as overall housing loan interest, total payable amount, and amortisation schedule. After knowing these details, one can look for the best loan offers available in the market and choose one that will suit their financial requirements.
Benefits of using an interest calculator
EMIs make home loan repayment convenient and flexible for customers. Here a housing loan interest calculator can help borrowers in evaluating the EMI amount and other essential factors associated with the loan.
To use this calculator, borrowers just need to visit the official website of the respective financial institution and use the tool conveniently and for free. Following are the benefits of this calculator, which will allow individuals to availhome loan and ease their repayment.
- Convenient calculation
Using a home loan EMI calculator or interest calculator is quite easy and convenient. Individuals just need to enter the loan amount, interest, and repayment tenor. The calculation will be done in seconds,and one will get the overall payable amount, payable interest, EMI break-up, etc.
- Helps in loan management
Knowing the EMIs in advance helps a borrower make prepayment plans along with timely repayments. This way, one can conveniently manage his/her loan account and repay the loan amount sooner.
- Compare loan offers
One can use this calculator to compare different loan offers available in the financial market. Since this calculator will show the total loan cost along with the payable EMIs, housing loan interest amount, and more, it will help borrowers select the best option for them that will fulfil their financial requisites without burdening their disposable income.
- Appropriate results
If a calculation is manually done, it can provide erroneous results. But one can completely rely on this calculator as it displays relevant results. The calculations are 100% accurate and leave no chance of any miscalculation.
- Helps in choosing right tenor
After knowing the EMI amount displayed by the calculator, individuals can choose a suitable loan repayment tenor. They are free to decide whether they can pay higher EMIs by choosing a shorter tenor, or they wish to opt for a longer tenor and pay their EMIs comfortably.
Therefore, by using this calculator, one can know the loan amount they can afford to repay along with interest amount and other associated costs.
Alternatively, to opt for affordable interest rates, one can choose the housing loan balance transfer facility, allowing borrowers to choose a lender that fulfils their financial requisites. In this financial facility, borrowers need to conduct in-depth research regarding financial lenders and settle for one offeringbetter interest rates.
But before applying, individuals need to know everything about home loan balance transfer to avoid any financial strain in the long run.
Leading financial institutions also offer a top-up loan facility and balance transfer facility for borrowers in need of additional funds to meet their essential financial requirements. Moreover, these financial lenders also extend pre-approved offers on a wide range of financial products, such as a home loan, loan against property, etc. These offers ensure a quick loaning procedure. One can check the pre-approved offer by mentioning his/her name and contact information. Thus, one can know their payable housing loan interest amount by using this calculator. Moreover, they can reduce the amount by making a substantial down payment or prepaying the loan amount.
MACD Histogram in Forex Trading￼
A trader can utilize the MACD histogram for trade entry and trade exit signals to reconcile the inconsistency between entry and exit signals. To do so, a trader can enter the market with a partial short position. Its always important for everyone to learn how to trade forex because its best way to make money online.
Currency traders are in a unique position to profit from this method since the more significant the job, the greater the potential profit when the price reverses. You can use this approach in the currency (FX) market with any size position without worrying about influencing price.
MACD and Currency Pairs
Understand that whether a currency pair is trading sideways, in a downturn, or an uptrend, the MACD can be utilized. The MACD is made up of three parts. Two EMA (Exponential Moving Average) lines make up the first component. The fast MACD line is one, and the slow MACD line is the other. The hues of the two lines are always different.
The MACD histogram is the second component. The histogram depicts a trend’s strength and duration. The point-of-reference zero line is the third component. A value greater than zero indicates a purchase indication, while a reading of less than zero indicates a sell signal.
Currency Pair Charts
Open a currency pair chart in your Forex trading account. To add MACD to your chart, go to the technical indicator list and click on it. The MACD will appear beside your price indicator, like as candlesticks, in the software package.
The histogram is frequently shown beneath the graph. The moving average for the last 26 closing periods, the past 19 closing periods, and the difference between the 26 and 19 closing periods are the default parameters in most MACD software.
Enable Market Conditions
Depending on market conditions, change the preset values. For example, if the market is volatile, you can shorten the time frame to match shorter period trading.
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Convergence or Divergence
Look for convergence or divergence in the MACD. Convergence occurs when price, the MACD, and the histogram move in the same direction. The histogram displays the trend’s strength, whereas the intersection confirms an existing trend.
When the price moves in the opposite direction of the MACD and the histogram, this is known as divergence. The current trend is breaking down, and the histogram will indicate the strength of the trend breakdown.
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Utilize Divergence Conditions
Before going long or short, trade the convergence by waiting for the MACD, histogram, and price to move in the same direction. Use a divergence to determine when a trend will turn.
Before entering a trade, many traders would wait until the MACD is above or below zero. Forex brokers with zar accounts is providing more information about the divergence conditions in forex.
Trading, like life, is rarely black and white. Some blindly agreed-upon norms, such as never adding to a loser, can be effectively disregarded to generate tremendous gains. Before attempting to secure payments, however, a systematic, methodical approach to breaching these important money management norms must be devised.
Trading the MACD histogram instead of the price allows you to deal with an old concept, divergence in a new way. By applying the MACD strategy to the Forex market, will allows for easy scaling up of positions. It also makes this concept even more appealing today and post traders alike.
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