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Not Just EMI, Here Are Flexible Repayment Options When Taking Canara Bank Gold Loan

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Flexible Repayment Options

Gold loans are a popular way to get credit because they can be paid back quickly, there are no restrictions on how the money may be used, and your credit score has little to no impact on whether or not you are approved for a canara bank gold loan. Another crucial point that is frequently overlooked is that there are many ways to repay gold loans.

Besides the usual EMIs, here are some other flexible modes available to repay gold loan.

Bullet payment

The use of a bullet payment is among the best methods of gold loan repayment. It enables the borrower to pay off both the principal and interest of the loan when it expires. The lender will typically bill interest on a monthly basis. Even though the terms for the majority of gold loans range from three months to three years, the “bumper” option typically has terms of up to one year. The bullet repayment option should be taken into account by borrowers who are unsure of how much they will be able to pay back over the course of the loan. The “bullet repayment” option would have the highest canara bank gold loan interest rate because the principal and interest are both paid back at the conclusion of the gold loan’s term.

Only making monthly payments of interest 

In this case, you pay the interest in accordance with the EMI schedule each month and the principal amount when the loan is paid off. Only interest is due from the borrower during the term of the gold loan. For those who don’t make enough money or don’t have enough cash flow to cover the principal and interest payments, this is a good option. 

The borrower will be required to pay a higher interest rate, though, if the principal is not repaid each month. Therefore, borrowers who choose this method of loan repayment should speak with their lenders to learn whether doing so would be feasible and how much it might cost. As a result, the cost of interest would be lower, and it would be simpler to repay the entire principal in one lump sum at the end of the canara bank gold loan‘s term.

Upfront payment of interest

When using this method of loan repayment, the interest is fully paid at the time the loan is granted. The principal of the gold loan must be paid back at the end of the loan’s term. The interest on a loan is typically subtracted from the principal when it is repaid. For borrowers who are unable to make monthly loan payments but would rather have a less expensive option than the bullet payment option, there is the upfront interest payment option. 

The regular EMI payment

Gold loans typically offer the option of regular EMI payments, just like most other loans. Because both the principal and interest must be paid back over the course of the canara bank gold loan in the form of EMIs, the total cost of interest with this method of repayment is lower than it would be with other methods. Regular EMIs are most advantageous to those with steady income and cash flow.

In conclusion, which payment option should you choose?

Borrowers should choose their preferred method of repayment when applying for a gold loan based on how much money they expect to earn and how much money they expect to spend during the loan’s term. Given that the ongoing pandemic has adversely affected many people’s incomes, non-regular EMI repayment options, such as the bullet repayment option, can be advantageous for those with limited cash flow. For those who are confident that they will have a steady source of income, the regular EMI option, which has the lowest canara bank gold loan interest rate of all the ways to repay a gold loan, is the best choice.

It is wise to take into account these other factors when taking out a gold loan, knowing your options for repayment.

total borrowed

Banks and NBFCs are only allowed to lend up to 75% of the value of the gold when making gold loans in accordance with RBI regulations. The majority of lenders currently offer gold loans for amounts between Rs 1,000 crore and Rs 10 crore. So keep that in mind before applying for a gold loan.

the rate of interest

The interest rate you receive for a gold loan application depends on a number of factors, including the LTV ratio, loan term, loan amount, and other variables, as well as how risky the lender thinks the canara bank gold loan is. For instance, a higher LTV ratio means the lender is taking on more risk, so they frequently charge a higher canara bank gold loan interest rate to make up for the higher risk. The typical annual interest rate range for gold loans is 7% to 29%. (p.a). (p.a.).

Term of a Loan

Gold is typically used as collateral for loans with three to five year terms. When choosing the loan’s term, you should think about how much you can afford to repay and choose a length whose EMI you can afford. Utilize an online EMI calculator along with the loan amount, canara bank gold loan interest rate, and term you choose to get a good idea of your monthly payment. The EMI amount increases as the loan term does, and vice versa.

processed fees

Processing fees for gold loans can either be a flat fee or a percentage of the total loan amount, depending on the loan amount. Others may charge a percentage of the loan amount up to 2%, while some lenders may charge a flat fee as low as Rs 10. Before submitting your gold loan application, take into account the processing fee that the lender may impose. The total cost of the loan may be significantly impacted by this fee, particularly for large loans.

Gold’s worth and purity

You can borrow a specific amount of money in exchange for gold depending on its type and quality. The most common gold items that can be used as collateral are different pieces of jewellery, coins, etc.; however, this will differ depending on the lender. Lenders also evaluate the gold that has been pledged, either internally or through external evaluators, and base the canara bank gold loan amount on the purity and appraised value of the gold that has been pledged.

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What Better Way To Promote Your Brand Than With Custom Ice Packs Featuring A Team Pitcher’s Logo?

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Businesses are always in the search for innovative solutions in the highly competitive sphere of marketing and brand advertising.The personalised gel ice pack is a very helpful but sometimes disregarded marketing tool. These adaptable gifts can be effective brand ambassadors and offer recipients usefulness, especially when personalised with the emblem of the winning pitcher for the club. This post will examine how these distinctive promotional items might strengthen your brand and make an impression on your intended market.

Personalisation: The Shifter

Gel ice packs are unique among advertising items since they may be personalised. You can make a distinctive and eye-catching product by adding your business colours, logo, and even a picture of a pitcher from a well-liked team. In addition to adding appeal to the ice pack, this degree of personalisation helps to cement the bond between the customer and your business. Every time someone grabs an ice pack, they are reminded of your brand and its connection to their preferred athlete or sports team.

Increasing Brand Loyalty via Association

You can harness the power of connection by showcasing the logo of a well-liked team pitcher next to your branding. Because dedicated sports fans are, you can cultivate a sense of brand loyalty by associating your firm with their preferred team or athlete. Because the recipients sense a personal connection to the promotional item and, by extension, your brand, this emotional connection can result in greater brand loyalty and customer retention.

Effective Long-Term Marketing at a Low Cost

Custom gel ice packs are a more affordable way to achieve long-term brand exposure than conventional advertising techniques like print or television commercials. The durability and frequent use of ice packs ensure that your brand message is seen long after the original distribution, even though the initial cost may be higher than for certain other promotional items. Due to the ice packs’ many applications, this increased visibility offers great value for your marketing investment and may reach a larger audience.

Improving The Client Experience

Customer experience is crucial in the industry of today.This is because you can show that you have the welfare of your clients at heart by including gel ice packs with company logos imprinted on them in your marketing strategy. Whether it is used for maintaining the freshness of the things that need to be eaten during lunch, for alleviating aches felt after exercising or even for dressing a knee that a child may have wounded, these useful products show that your company is sensitive to its clients’ needs. Customers’ perceptions of and pleasure with your brand can be greatly improved by using this deliberate approach.

Aiming for Sports Fans and Other Audiences

Custom gel ice packs with the pitchers logo are appealing to sports enthusiasts, but their uses are not limited to this group. Target audiences and a variety of sectors can be catered for with these promotional goods. For example, healthcare professionals might give them to patients; fitness facilities could utilise them as a bonus for membership; and outdoor equipment dealers could give them along with camping supplies. Finding out how your target market can use the product and tailoring it to suit their needs are crucial.

Flexibility in Advertising Campaigns

A variety of marketing initiatives and techniques can make use of custom gel ice packs. It works well as a gift at trade exhibits, sporting events, and neighbourhood festivals. They can be given to devoted customers as a thank-you present or as part of a welcome package for new ones. They can be incorporated into seasonal promotions in the summer to show off your brand’s year-round relevance. 

Crafting Authentic Brand Experiences

It is accomplished by fusing emotional appeal and usefulness in custom gel ice packs featuring the logo of the team pitcher. Beyond only visual identification, they establish a visceral bond with your brand. Customers are positively and concretely interacting with your brand when they use an ice pack bearing your logo to relieve sore muscles following a workout or to keep their drinks cold during a picnic. These exchanges create favourable associations that have a big impact on how people perceive and stick with a brand.

Conclusion:

Finally, branded gel ice packs and promotional gel packs with a team pitcher’s emblem present a distinctive and practical approach to building your brand. These promotional objects go beyond conventional advertising techniques by fusing functionality, personalisation, and emotional appeal to produce enduring impressions. They generate brand loyalty, add value to the recipients, and present flexible marketing options for various markets and target audiences. 

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How to link a current account with GPay?

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GPay


GPay has become one of the most popular digital payment apps in India. Its unified payments interface (UPI) makes transferring money instant and hassle-free. If you have a current account, you can also link it to GPay and make seamless payments. Here is a detailed guide on how to link your current account with GPay in a few simple steps:

Prerequisites for linking a current account with GPay

To link your current account with GPay, ensure that:

  • You have an active digital current account with a bank that supports UPI payments and integration with GPay.
  • The mobile number registered with your current account is accessible and working.
  • You have downloaded and installed the latest version of the GPay app on your Android or iOS smartphone.

Steps to link current account with GPay

Follow these steps to link your current account to GPay

Step 1: Open the GPay app and tap on your profile picture

Launch the GPay app on your phone. Tap on your profile picture on the top right corner of the home screen.

Step 2: Tap on the ‘Bank account’ option

Under your profile section, tap on the ‘Bank account’ option to add or manage linked accounts.

Step 3: Tap on ‘Add bank account’ 

On the bank account page, tap on the ‘Add bank account’ button at the bottom to link your current account.

Step 4: Search and select your bank 

GPay will display a list of banks supported by the app. Search and select your bank where you have the current account.

Step 5: Choose the account type as ‘Current account’

On the next page, GPay will fetch all your accounts linked with the mobile number. From the list, choose your account type as ‘Current account’ to link it.

Step 6: Enter the last 6 digits of debit card for verification

To verify the current account ownership, GPay will ask you to enter the last 6 digits of your debit card along with the expiry date associated with your current account. Enter the details and tap ‘Proceed’.

Step 7: Set UPI PIN 

You will now need to set a UPI PIN for authorising transactions from the current account. If you already have a UPI PIN, enter it when prompted. Otherwise, set a new 6-digit UPI PIN of your choice.

Step 8: Start transacting from GPay

Once the UPI PIN is set, your current account will be successfully linked to your GPay profile. You can now start using GPay to instantly send or receive payments from your current account directly.

Benefits of linking a current account with GPay

Linking your current account to GPay offers multiple benefits like:

  • Instant transfers – Make seamless money transfers between your linked current account and other GPay users in real-time.
  • Cashless payments – Pay your vendors, employees, and bills directly through GPay using a current account.
  • Transaction history – GPay provides a detailed statement of your current account transactions.
  • No transaction charges – As per RBI guidelines, all UPI transactions are free. Only merchant payments above ₹50,000 carry charges.
  • Raise invoices – You can create UPI QR code invoices and receive payments into the current account instantly.
  • Wide acceptance – GPay is accepted by millions of offline and online merchants nationally.
  • Enhanced security – GPay uses MPIN and biometrics for safe transactions from the linked account.
  • Avoid card risks – Transact directly from the current account avoiding risks like card skimming, cloning, etc.

With GPay linked to your current account, you can ditch cash and make safe digital payments seamlessly anytime, anywhere. It makes vendor payments, customer collections, and expense management quicker and more efficient for your business.

Thus, with a few simple steps you can link your current account to GPay and start making fast digital payments on the go. Do make sure that you follow the latest RBI guidelines for UPI-based transactions from a current account. Link multiple current accounts to GPay if needed and seamlessly switch between them. Lastly, it is also advisable to use all the available settings on GPay to enhance security and control transactions.

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Tips to Choose the Best Permanent Recruitment Services

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Best Permanent Recruitment Services

The most importantly, it can be said that hiring correctly can go a long way in securing your business success. This is where a permanent recruitment services could prove to be valuable. These experts assist businesses in finding and employing the top permanent workers. Finding a good employment agency among the thousands of them can be quite difficult; so, what are you going to do with this? This is the document that contains those guidelines and recommendations to help make the decisions easier. They will cover it all here – from working out what your recruitment needs are, to evaluating a recruitment agency. When it is all said and done, you will have learned how to select an actual hiring agency that will result in your company succeeding.

1. Recognize Your Needs for Hiring

Before looking for a recruitment agency, take a step back and think about your company job needs. Take into consideration your business environment and what types of roles you need to hire for with all the necessary criteria. Consider your current and future personnel needs. Professional workers or entry level staff? Do you need an expert from a particular field? Well if you know the answers to these questions it should be easier for you by searching on internet or phone book directories to find a recruitment agency that specialises in catering exactly what you’re looking for.

2. Examine the Agency’s Standing

The reputation of a recruiting firm can reveal a lot about the services it provides. Seek out companies with a proven track record in your sector. Examine internet testimonies and reviews from employers along with prospective employees. Request referrals from other companies in your network. Take note of the agency’s duration of operation and any accolades it may have received from the industry. A reputable company with good reviews has a higher chance of offering dependable service.

3. Assess the Agency’s Knowledge of the Industry

Every industry has its own hiring criteria and obstacles. An agency with knowledge of your particular sector might be quite beneficial. They will be knowledgeable about the abilities, credentials, and work history required for different positions in your industry. They will also be aware of industry-specific trends and difficulties in addition to having a network of qualified candidates. Inquire about the experience that possible agencies have in your industry. Find more about their accomplishments and the kinds of jobs they have occupied in your sector.

4. Evaluate the Hiring Procedure

An exhaustive and effective hiring procedure is essential for identifying the suitable applicants. Request a step-by-step explanation of the recruitment process from possible agencies. How do they find potential candidates? Which screening techniques do they employ? How do they evaluate the abilities as well as cultural fit of a candidate? Seek out employment services that employ a blend of contemporary and conventional methods, including AI-powered screening tools and social media outreach. A competent agency should also be able to modify its workflow to meet your unique requirements.

5. Examine the Variety of Services Provided

Even though hiring permanent staff may be your most pressing necessity right now, take into account agencies that provide a wider range of services. This could involve hiring temporary workers, looking for executives, or even providing HR advice. As your company expands and your employment requirements change, an agency offering a variety of services might be a reliable long-term partner. Additionally, they could provide value-added services like background checks, skills assessments, along with onboarding assistance. Make sure, nevertheless, that providing a variety of services doesn’t come at the expense of proficiency in long-term hiring.

6. Examine the Candidate Matching Quality

The ability of a recruiting firm to match qualified applicants with open positions is the real indicator of that agency’s efficacy. Inquire about the applicant matching procedure used by prospective agencies. How do they make sure that applicants are a good fit for your corporate culture in addition to possessing the necessary skills? Find out what percentage of placements leads to long-term hires they have success with. A reputable agency has to have references from past matches that worked out well.

7. Analyse the Agency’s Reach and Network

Finding excellent personnel can be greatly impacted by a recruitment agency’s network. Inquire about the number and makeup of their applicant pool. Are passive applicants, or individuals who are not actively seeking a job but are receptive to chances, available to them? Think over the agency’s reach geographically: can they find applicants locally, nationally, or even abroad if necessary? Examine their strategies for creating as well as sustaining their network as well. Do they participate in professional associations, go to industry events, or employ creative networking strategies? You can identify the ideal candidate for your vacant roles more easily if your agency has a strong and broad network.

8. Examine the Structure of Prices and Guarantees

Although it shouldn’t be the sole consideration in your choice, price is undoubtedly significant. Request a thorough explanation of the agency’s cost structure. Is there a fixed cost or a portion of the recruited worker’s pay that they charge? Do services like background checks along with competence evaluations come with an additional fee? Ask about their warranties as well. If a placed candidate is not successful within a given time frame, reputable agencies usually guarantee a replacement. You can ensure that you’re receiving a solid return on your investment and avoid unpleasant surprises by being informed of the financial specifics up front.

9. Verify Ethical and Compliance Practices

Ethical and legal compliance are critical in the recruitment industry. Make sure the organisation you’re taking into account complies with all applicable employment laws and rules. Regarding matters like applicant confidentiality, equal opportunity employment, as well as data protection, they ought to have explicit policies. To be sure they’re not sending you individuals with phoney credentials or employment history, find out about their screening procedures. Reputable agencies ought to be open and honest about their procedures and prepared to supply any required paperwork.

10. Evaluate Customer Service and Communication

An effective working relationship with a recruitment firm depends on effective communication. In your earliest interactions, take note of the agency’s responsiveness and accessibility. Do they respond to your inquiries in a timely and clear manner? Do they provide information along with updates on a proactive basis? Think about the primary point of contact you will have at the agency: do they appear competent and well-mannered? The placement process is only one aspect of excellent customer service. The organisation ought to be prepared to handle any problems that crop up and offer continuous assistance.

Conclusion

Choosing the right permanent manpower agency, therefore, is vital to ensure that you get maximum from your headcount and hence help in growing business with a sensible bottom line. Consider things such as industry experience, methods of recruiting and quality in applicant matching to help you find a permanent placement consultant that really understands your requirements- which can only be served effectively by an ethical provider.

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