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Securities are financial instruments which are tradable or can be sold or bought. Shares and bonds are considered to be securities and can be transferred to a person. While long term deposits like fixed deposits cannot be transferred to another person and therefore cannot be called securities. Securities have financial worth that can be traded in the public market. There are different types of securities like debt securities and equity securities.

The Annual Percentage Rate(APR) will be the total cost of borrowing, while normal interest rates are what your monthly loan payments are calculated on. The APR takes into consideration the interest you are going to pay over the entire life of the loan in addition to any extra charges or fees that you will be associated with obtaining that loan. Extra charges like processing fees, foreclosure amount, etc.

Seller financing is a loan provided by the seller of a property to a potential buyer. The buyer will make a down payment to the seller and then pay the rest of the money, including the interest rates, in the form of Equated Monthly Installments (EMI). This is typically a transaction where the seller provides a loan to the buyer rather than approaching a bank. To the seller, this will be an investment in which the return will be guaranteed only by the buyers ability to pay back also known as their creditworthiness.

SBI had stated that the option of wanting to take the EMI moratorium or to continue making payments is upto the borrower. If you have enough cash flow then it is not necessary to take up the EMI holiday. So if you have given instructions to deduct payments as per schedule to SBI, it will continue to happen until you intimate your bank about wanting to opt for the EMI holiday. So to opt for the moratorium, you would have to mail the bank instructing the same.

Once you apply a MUDRA loan, this will be updated in your credit report. And if you apply for another MUDRA loan under another lender, they would know that you had already applied for a MUDRA loan elsewhere. So that lender will most likely not approve your MUDRA loan application. And it is not advised to take two loans at a time because it would become hard to pay interest and EMIs.

No, opting for the moratorium/repayment holiday will not impact your credit score and if you don’t make payments during that time it won’t be reported to the credit bureau. However, if you fail to make payments after the moratorium gets over, your credit score will take a hit.

Carrying out banking transactions through mobile phones gets easier through mobile banking. As mobiles are easily accessible and used by everyone, making transactions will become faster. To activate mobile banking, you would have to follow the below steps:

Financial institutions are allowed to permit 3 month repayment holiday on interest with respect to working capital facilities that fall due between March 1,2020 and May 31,2020. The accumulated interest will have to be paid immediately after the repayment holiday/moratorium gets over.

The process of opting for the moratorium might differ from bank to bank. Ever since RBI had announced the repayment holiday, banks have followed suit on announcing details of the loan EMI holiday on their respective websites.

Due to the hardships being faced by people because of the Coronavirus situation, the Reserve Bank of India has allowed banks and other financial institutions to provide a 3-month EMI holiday, starting from March 1, 2020 till May 31, 2020. However, you should remember that EMI holiday accrues simple interest on outstanding amounts which needs to be paid additionally. Term loans include all kinds of retail loans such as personal loans, home loans, vehicle loans, education loans, agricultural term loans as well as crop loans.

EMI Holiday does not mean waiver of repayment, but it is deferment of payment.The interest will continue to accrue on your EMIs during this 3 month period and will get added to your outstanding amount. This will also increase your financial burden when you start paying your EMIs from June. If you are getting your salary on time or have enough cash in hand, it’s better to pay your EMIs regularly.

Due to the Coronavirus pandemic, the 21-day lockdown has affected a lot of people financially. Many daily wage workers and salaried individuals have had pay cuts or have been laid off during these difficult times.

The EMI holiday is applicable for both the principal of the loan amount and the interest. The moratorium will not provide a waiver and the interest will continue to accrue on your EMIs during this 3 month period (from March 1,2020 to May 31,2020) and it will also get added to your outstanding amount. If you have already made payments for the month of March, the EMI holiday will only benefit you for the months of April and May.

The Unified Payment Interface(UPI) is a payment model that allows you to use your smart phones to send or receive money instantly. UPI merges various banking services and features under one roof. A UPI ID and PIN are sufficient to send and receive the money; real time payments can be made using a mobile number or virtual payment address. To transfer money you don’t need to remember the receiver’s account number, account type, bank name and other information that you would usually need for making transactions.

No, they are not the same. BHIM(Bharat Interface for Money) is a mobile wallet app that helps drive payments online. This app is similar to Paytm, Freecharge, etc, but is the government version. It is a unified app based on UPI which can be synced to any of the UPI-enabled bank accounts. The Unified Payment Interface(UPI) is a payment model that allows you to use your mobiles to send or receive money. This acts as a platform, while BHIM is a separate mobile wallet app.

Due to the coronavirus pandemic, RBI has allowed banks to push the billed credit card dues between 1 March,2020 and 31 May,2020. This is not a waiver that is provided on the repayment amount. If you plan to opt for the EMI holiday(moratorium), your credit scores will not be affected during the 3 month period. However, the interest rates will continue to be charged at current rates or as specified by your credit card issuer. For credit card dues, billings will be restored on 31st May, 2020.

The Reserve Bank of India has permitted banks and other financial institutions to allow postponement of EMIs for 3 months starting from March 1,2020 to May 31,2020. The borrower would have to request the bank and show that his/her finances have been affected due to the coronavirus disruption to avail the EMI holiday.

Most financial institutions like banks and NBFCs provide MSME loans to individuals who are looking forward to starting a business or need funds for their already existing business.

Any financial institution will give you business loans at low interest rates if you have a good credit score and credit background. With a good credit score to back you, you will be able to bargain for low interest rates business loans.

MUDRA loans are provided to people who are looking forward to starting activities in the food product sector like papad making, achaar making, jam/jelly making, agricultural produce preservation at rural levels.

In developing countries the share of indirect tax is much higher than direct tax. GST implementation allows the government to have a better grip on taxpayers.