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Applying for a loan while being unemployed might not get you high approval chances for the loan you are looking for. Lenders would need to see a source of income, so that they will have an assurance that you will make your payments on time. Having a guarantor will give you a better chance of qualifying for the loan. But even though if you don’t sign a guarantor you can always go for a secured loan.

A credit score is a 3 digit number that represents the evaluation made on a person's capability to repay loan amounts and other debts like credit card payments. Credit bureaus like CIBILTM, Experian, Equifax, CRIF HighMark provide credit scores that are calculated based on their credit history. Having a good credit score is a must as banks and NBFCs provide you the top credit cards or loans based on your credit score.

When it comes to GST, there are both positive impacts and challenges that are faced by small and medium enterprises. If a business operates across different states, your business would have required VAT registration, before GST was introduced. Different tax rules in different states incurred high procedural fees. With the introduction of GST, starting a business as well as expansion has become easier, which is an added advantage for SMEs.

Monitoring your credit score doesn’t reduce it. Accessing your credit report doesn’t have any affect on your score. Reviewing your credit score is a soft inquiry. A soft inquiry is made by lenders to check if you are preapproved for a loan or credit card offer, or if a potential employer wants to check your credit report. These inquiries are made with your permission and will not affect your credit score.

GST (Goods and Service Tax) has a direct link with your working capital and can impact your business's liquidity. With the introduction of GST, inventory management has seen a big change. Earlier, companies had warehouses in each state to avoid cross border taxation costs. Upkeeping all the warehouses would have been cumbersome, with all the different tax structures. Since GST has been introduced, the companies only have to maintain 4-5 warehouses to fulfill demand across all the states in the country. When the goods are moved, they don’t have to pay taxes every time they cross the border. This will save a lot of working capital.

GST is an indirect tax that is levied on goods and services. Business loans have become expensive after the implementation of GST. This is because the GST is levied at the rate of 18%. Thus, the processing fees of these loans make it expensive for borrowers.

High NAV Guaranteed Plans are products that investors see as a safe investment equity product. These funds help investors to get the highest returns from the stock market in the long run. These schemes are structured in such a manner that the collected funds can be invested either in equities or in debt instruments. As per the stock market conditions, the funds will be shifted into debt or equity portfolios.

The actual loan amount you qualify for depends on several factors like the loan type, your credit score, debt-to-income ratio, other debts, etc. Your income is just one of the many factors that determine the loan amount. 

You can get a credit card with a salary of Rs. 12,000, but you would have limited options. Each lender would have their own criteria of qualifying for a credit card. Lenders would want to know if you will be able to pay your credit card bills on time every month. To know about your repaying capabilities, your credit history will be checked. Having a good credit background would get you better chances of qualifying for a credit card even though your choices may be limited. But having a bad credit background can bring down your chances of getting a credit card.

You can get a credit card with a salary of Rs. 10,000, but you won’t have a wide variety of options when it comes to picking the credit card you want. You might not even be able to get a credit card from a specific lender that you prefer. Only a very few lenders will have credit cards for people who have a salary of Rs. 10,000. Apart from your salary, your credit history will also be checked, if you want to qualify for these credit cards. If you have a good credit score, you have a better chance of getting approved for a reasonable credit limit. 

Personal loans are easy to avail and you wouldn’t need to pledge collateral as they are unsecured loans. Due to this reason, these loans have comparatively high interest rates, when compared to secured loans like home loans and gold loans. The loan amount that you get approved will depend on different factors: your monthly salary, your credit score, your repayment capability, etc. A lender will want to know your monthly salary, so that they have an assurance that you will make your monthly EMIs without any delays or difficulty.

There are a few factors that will be taken into consideration before you qualify for a personal loan. One of the main criteria that will be checked is your monthly salary. The minimum monthly salary you would need to apply for a personal loan will be approximately Rs. 15,000. People who have a salary below that might find it difficult to qualify for a loan. They might have chances of qualifying, but might not get high loan amounts and would have to pay higher interest rates. But banks usually prefer borrowers to have a monthly salary of Rs. 25,000.

Starting to save for the long haul is important. It’s better if you start planning for your future financial needs as early as possible. If you start early, you will be able to save more and create a good corpus amount that you need for your retirement. Financial planning should be kept separate from short term and medium-term goals, such as buying property or for the education of your children. You have to estimate how much you would need for your retirement and separate your savings from short term and medium term spends. 

Diversification is done to reduce the risk. There are different ways in which an investment portfolio can be diversified. It can be diversified through asset allocation, by determining investor’s risk appetite, by diversifying within an asset class and investing through equity mutual funds. These equity mutual funds will be managed by fund managers or investment experts, who ensure that your funds are diversified across several sectors that will provide the maximum returns. If you buy an equity mutual fund, you get the benefit of owning a diversified equity portfolio that will also be managed by a fund manager.

When it comes to retirement, it’s always better to start saving earlier. It’s always better to classify your savings into long term, short term and medium term. If you decide to start a business with the long term money that you had saved for your retirement, then you would be short of funds when you start your retirement life. Your long term savings can’t be used for your immediate needs of starting a business as you might not have anything left for your retirement.

Diversified equity funds invest in companies regardless of their size, sector and whether they are large caps, mid caps or small caps. These are pooled investments that build portfolios across several asset classes, regions and/or industry sectors. This becomes an investment strategy for reducing risk in a portfolio while maintaining levels of expected return. According to the fund manager’s perception of the market conditions, the investments can be made. An investor who is ready to take risks and planning to make a long term investment can go for equity funds. As these funds invest in companies across a particular sector or industry, they can choose to invest in engineering industries, automobile industries, financial services, etc.

A loan is itself a debt. To pay off your existing debt, taking a loan can increase your debt burden as a loan comes with interest payment. However, it also depends on the type of debt you have at the moment. For example, in case you want to consolidate all your debts and pay off as a single one, you can opt for a debt consolidation loan. This can help you make a single payment each month to one lender. However, you need to compare the interest rates on existing loans and the new loan. Higher interest on new loan means higher repayment.

Every lender has a set of eligibility criteria that borrowers must meet to get a loan. While salary and good credit score are the major criteria, the lender also prescribes a minimum income requirement, which may vary among different lenders. Although Rs. 16,000 will qualify with certain lenders, some may not approve your loan application especially if you live in metro cities. You need to check with the respective lender about the details. 

Borrowing money from banks would require you to fulfill certain eligibility criteria laid by them. The major criteria are your income, credit score and employment. When you are unemployed, it could be difficult for you to get approved for a loan. However, if you have regular monthly income through some source like receiving rent, you are likely to qualify for an unsecured loan.

Going cashless has brought numerous benefits to people and business organisations. With the cashless transactions, there are chances of burglary and theft. The policemen have to worry less about such crimes.

Any Indian citizen between the age of 18 to 40 years can open Atal Pension Yojana. The scheme is administered by the Pension Fund Regulatory and Development Authority through NPS architecture. Under this scheme, there is guaranteed minimum pension for subscribers ranging between Rs. 1000 to Rs. 5000 per month.