Market figure – Plamo http://www.plamo.info/ Sun, 19 Sep 2021 19:34:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://www.plamo.info/wp-content/uploads/2021/06/icon-3-105x105.png Market figure – Plamo http://www.plamo.info/ 32 32 A look at BNPLs and how they stack up against other forms of unsecured credit https://www.plamo.info/a-look-at-bnpls-and-how-they-stack-up-against-other-forms-of-unsecured-credit/ https://www.plamo.info/a-look-at-bnpls-and-how-they-stack-up-against-other-forms-of-unsecured-credit/#respond Sun, 19 Sep 2021 19:34:38 +0000 https://www.plamo.info/a-look-at-bnpls-and-how-they-stack-up-against-other-forms-of-unsecured-credit/ Ahead of the festival season, a comparison of buy-it-now and post-payment programs with credit cards and loans Adhil Shetty | Posted 20.09.21, 01:04 AM There’s a new player in town, and his name is BNPL. Buy Now Pay Later loans are not a recent invention. However, given the economic hardship caused by the pandemic, they […]]]>

Ahead of the festival season, a comparison of buy-it-now and post-payment programs with credit cards and loans



Adhil Shetty

|



Posted 20.09.21, 01:04 AM


There’s a new player in town, and his name is BNPL. Buy Now Pay Later loans are not a recent invention. However, given the economic hardship caused by the pandemic, they are becoming more and more popular.

While people have struggled to stabilize their incomes and have had to dip into their savings to support themselves, it has also become more difficult for some to use other forms of credit. For example, without a stable income and repayment of other loans, it is difficult to qualify for a new personal loan.

Therefore, there is a need for a short term credit solution which can be used without hassle and repaid at no cost. Think of it like maintaining a tab with your local grocer: at the end of a month, you make a lump sum payment to settle your dues, and there is no interest or processing fee. Actually, you can get a little discount if you pay on time. As the holiday season approaches, you’ll hear about your borrowing options. So let’s take a look at BNPLs and how they stack up against other forms of unsecured credit.

What is BNPL?

BNPLs have been around for a few years, and you would have seen them as a “payment” option on taxi aggregators, online grocery stores, or food delivery services. In a BNPL loan, you get a micro credit – Rs 5,000 to Rs 25,000 in most cases – and you have to repay the contributions within 14 to 90 days. The loan is interest free. There are also no processing fees or renewal fees, just a penalty for late payments. You can get it quickly from your preferred BNPL provider. BNPLs are now visible on a number of online services. While the number of use cases they currently have is low, the number of merchants integrated by lenders is growing rapidly.

Why is it gaining popularity

The global BNPL market was valued at $ 7.3 billion in 2019 and is expected to reach $ 33.6 billion by 2027, according to market research. The BNPL survey for the fourth quarter of 2020 indicates that in India, the gross value of goods will reach $ 52.8 billion by 2027. The rapid increase in BNPL in India coincides with the loss of revenue from the pandemic as well. that the public going online for every need, whether it’s paying bills or shopping for groceries. Many fintech lenders are now offering BNPLs and a few large private banks have also entered the fray.

Take advantage of a BNPL

Unlike bank loans where credit score and income verifications are required in loan underwriting processes, BNPLs are less stringent. BNPLs can be used online with minimal paperwork or even without having to meet with the lender. This is a good option for new credit borrowers, especially those who have not yet accepted a credit card. Once you have signed up for a BNPL, you need to link the account to the merchant you wish to purchase with and use the BNPL as a payment option when finalizing your purchase.

Credit card vs BNPL

The similarities between the two are ease of access and use, revolving credit, and an interest-free window. But there are a lot of differences. Credit cards may allow much higher spending limits compared to BNPL, which can be as high as Rs 1 lakh in a few cases.

In BNPLs, late payments result in penalties but not interest, except for BNPL EMIs where interest may apply. The cards charge both penalties and interest. Cards are universally accepted, online or offline, in India or globally.

BNPLs can only be used with traders linked to the lender on specific platforms. The cards also come with plenty of rewards, cash back rewards, and perks that can improve the borrower’s lifestyle, but BNPLs usually don’t have any rewards.

The cards allow cash withdrawals at an additional interest charge; BNPLs do not.

Personal loans vs BNPL

Personal loans can reach Rs 40 lakh in some cases and can be repaid with interest for terms of up to five years. BNPLs are micro-credits with much shorter durations and without interest. The loans are deposited in your bank from where you can spend the money as per your requirement, even in cash. BNPLs stay with your lender who settles invoices on your behalf with partner merchants. Personal loans are one-time loans while BNPLs, like credit cards, can be used over and over from your approved loan balance as long as you continue to repay your contributions.

BNPLs, credit cards, and personal loans are various forms of unsecured credit, each with their own advantages. Borrowers with good credit profiles will receive many offers for these during the holiday season. But any form of credit should be used with financial discipline. Users should not over-borrow and should minimize their use to finance their lifestyle and consumption.

BNPL registrations do not normally require a serious credit check, which can lower your credit score slightly. However, late payments are sure to hurt your score. Therefore, borrowers should make sure to read the terms and conditions carefully, borrow thoughtfully, and always repay their dues on time.

The author is CEO, BankBazaar.com

]]>
https://www.plamo.info/a-look-at-bnpls-and-how-they-stack-up-against-other-forms-of-unsecured-credit/feed/ 0
Hard Money Loans – When a Real Estate Investment Needs Quick Financing »RealtyBizNews: Real Estate News https://www.plamo.info/hard-money-loans-when-a-real-estate-investment-needs-quick-financing-realtybiznews-real-estate-news/ https://www.plamo.info/hard-money-loans-when-a-real-estate-investment-needs-quick-financing-realtybiznews-real-estate-news/#respond Sat, 18 Sep 2021 15:10:00 +0000 https://www.plamo.info/hard-money-loans-when-a-real-estate-investment-needs-quick-financing-realtybiznews-real-estate-news/ There are many ways to successfully invest in real estate. We don’t hear so much about hard money lending these days, but it still has a valuable place in the investment world. Hard money lenders typically don’t assess real estate the same way most investors and other real estate professionals do. Hard money loans can […]]]>

There are many ways to successfully invest in real estate. We don’t hear so much about hard money lending these days, but it still has a valuable place in the investment world. Hard money lenders typically don’t assess real estate the same way most investors and other real estate professionals do. Hard money loans can be easier to obtain, but they can be expensive. Despite their cost, they are an essential tool for investors. Knowing when to use hard money and how to get it is essential.

As an investor, you need to know your local market inside out. You should instinctively get a good idea of ​​the property’s value after a brief inspection. What is different for hard money lenders is that they often lend money outside of their local market. It could be in a remote city or across the country. Hard money lenders cannot physically inspect the property themselves and do not have a solid understanding of local property values.

Every private contract is written for the mutual benefit of the investor and the lender, but there are general rules that govern the hard money market. Hard money lenders do not use the standard underwriting process used by banks. Banks focus on the borrower’s credit history and income. A bank loan is generally 90% or more of the value of the home.

Hard money lenders focus on the value of the property rather than the creditworthiness of the borrower. Sure, they’ll look at a professional appraisal, but it’s not the only appraisal tool they rely on. Often times, they want at least two and maybe three assessment models to make an informed decision. Hard money lenders will review tax appraisal records, but again, this is not a reliable way to appraise real estate. The tax assessment districts calculate the values ​​on an annual basis at best and many only every two years. In addition, the tax authorities only assess properties at the edge of the street. They do not have access to the interior of the house.

Another tool that hard money lenders use to value property is the Broker’s Price Opinion (BPO). A BPO is an appraisal by a broker of the value of the property. However, hard money lenders are also skeptical of these valuations, as brokers tend to overvalue properties in the hopes of a higher listing fee and an optimistic view of the local real estate market.

The value a lender places on a property has nothing to do with the purchase price you negotiated. It will be based on what the market values ​​the property at.

Ultimately, hard money lenders take all the information available to make an informed decision. They ask themselves questions like, “If the market hits a bottom, will I be able to get back the money loaned for the property?” Will I take advantage of this property even if I have to regain control of it in the event of a default? “

To fully protect themselves, hard money lenders typically only lend 50-70% of the property’s value. As an investor, you will either need to negotiate a purchase price within this range or have additional financing available. Also, keep in mind that a hard money lender knows the repair and rollover business as well as any investor. They will want to know your exact plan for the property and will need to approve it along with the value of the property.

Most hard money lenders make short term loans on average between six months and two years. Generally, the biggest benefit of hard money is a quick close. Since there is no credit check, closing can take place a few days after an application is approved. If you have established a relationship with a hard money lender, the loans can be funded within hours. An investor interested in hard money should know what documents will be needed to approve the application.

If your ducks aren’t all lined up, funding may take a few weeks, but as little as three to five days are possible. If you have a trusting relationship with a hard money lender, you may be able to have funds within 24-72 hours.

Hard money is not for everyone (or even most people). The only reason to take out this type of loan is a great investment that requires a quick response. It can cost you 10% of the loan amount for interest and loan fees. But when you can earn 30% on a deal in a matter of weeks or months, paying more for quick finance is probably worth it. When a good investment won’t wait, a hard money loan can always be the best answer.

What else do you think investors need to know about hard money loans? Share your ideas and experiences by leaving a comment.

Additionally, our weekly Ask Brian column welcomes questions from readers of all levels of experience with residential real estate. Please send your questions, inquiries, or story ideas to askbrian@realtybiznews.com.

Photo by Frederick Warren on Unsplash

Author Biography: Brian Kline has been investing in real estate for over 35 years and has been writing about real estate investing for 12 years. He also draws on more than 30 years of business experience, including 12 years as a director at Boeing Aircraft Company. Brian currently lives in Lake Cushman, Washington. A vacation destination, close to a national and the Pacific Ocean.

]]>
https://www.plamo.info/hard-money-loans-when-a-real-estate-investment-needs-quick-financing-realtybiznews-real-estate-news/feed/ 0
Take these essential steps before canceling a credit card https://www.plamo.info/take-these-essential-steps-before-canceling-a-credit-card/ https://www.plamo.info/take-these-essential-steps-before-canceling-a-credit-card/#respond Sat, 18 Sep 2021 15:00:34 +0000 https://www.plamo.info/take-these-essential-steps-before-canceling-a-credit-card/ There may come a time when you decide that you are ready to cancel a credit card. Maybe you don’t like customer service, or you’ve found a different card that better meets your needs. In some cases, canceling a credit card that you don’t think you will use much makes sense. But before you embark […]]]>

There may come a time when you decide that you are ready to cancel a credit card. Maybe you don’t like customer service, or you’ve found a different card that better meets your needs. In some cases, canceling a credit card that you don’t think you will use much makes sense. But before you embark on this path, here are some important steps to take.

One Email a Day Could Save You Thousands

Expert tips and tricks delivered straight to your inbox that could help save you thousands of dollars. Register now for free access to our Personal Finance Boot Camp.

By submitting your email address, you consent to our sending you money advice as well as products and services which we believe may be of interest to you. You can unsubscribe anytime. Please read our privacy statement and terms and conditions.

1. See how long the card has been open

Canceling a credit card that you haven’t opened for a very long time isn’t a big deal. But canceling a credit card you’ve had for 10 years is another story.

A key factor that goes into calculating your credit score is the length of your credit history. Keeping long standing credit card accounts open is actually good for your score, so before you cancel a card, see how long you’ve had it in your name. And consider keeping it if it can help keep your credit score intact.

2. Check if the card charges an annual fee

If you have a credit card that doesn’t work for you and comes with a high annual fee, then canceling it could make a lot of sense, even if that card has been open for a while. But if there’s no fee on hand and you’ve had it for a while, then you might as well keep that card.

And even if you do not have if this card has been open for so long, it still adds up to the total spending limit on all of your credit cards. The higher your spending limit, the more it can improve your credit score by keeping your credit utilization rate in favorable territory. This ratio measures your credit card balances to your total line of credit, and keeping that not-so-good card open means keeping the spending limit it gives you. (Plus, it never hurts to have this map handy in an emergency.)

3. If there is is fees, see if it’s negotiable

You never know when a credit card issuer may be willing to lower or waive their fees, permanently or for a period of time. Before closing a credit card, it’s worth having this conversation and seeing what your options are.

4. Make sure you have used all of your reward points

You may decide that one of your credit cards is just not worth keeping. But before you close your account, be sure to redeem any reward points or cash back rewards you are entitled to. In fact, don’t just use these perks – wait until you make sure you receive your reward item in hand or your cash back arrives in your bank account before canceling your card.

In some cases, canceling a credit card won’t really have an impact on you. But in other cases, closing a credit card account can have consequences. Before you take this step, check these key items off your list. This way, canceling your card will not damage your credit or lose the financial rewards you are entitled to.

]]>
https://www.plamo.info/take-these-essential-steps-before-canceling-a-credit-card/feed/ 0
Nifty Loans Company Offers Quick Personal Loans For People With Bad Credit https://www.plamo.info/nifty-loans-company-offers-quick-personal-loans-for-people-with-bad-credit/ https://www.plamo.info/nifty-loans-company-offers-quick-personal-loans-for-people-with-bad-credit/#respond Fri, 17 Sep 2021 19:26:12 +0000 https://www.plamo.info/nifty-loans-company-offers-quick-personal-loans-for-people-with-bad-credit/ The Australia-based company assures that even though its team of experts performs a credit check in its loan assessment, it won’t just look at a person’s bad credit. Individuals just need to submit a simple online application and get their results within an hour. Leading Australian company Nifty has stepped up efforts to provide quick […]]]>

The Australia-based company assures that even though its team of experts performs a credit check in its loan assessment, it won’t just look at a person’s bad credit. Individuals just need to submit a simple online application and get their results within an hour.

Leading Australian company Nifty has stepped up efforts to provide quick loans to people with bad credit.

Bad credit refers to a low credit score or a short credit history. Reasons such as maxed out credit cards or late payments can lower a person’s credit rating.

“If you have bad credit, you can’t avoid rejection from every lender. Some people may make the rule of not lending to anyone with bad credit and will reject you no matter what you do. This is where Nifty comes in, ”says Andy.

Nifty assures that even though its team of experts performs a credit check in its loan assessment, it will not just look at a person’s credit rating.

“We want to know your current financial situation and your spending habits. That’s why we can offer instant loans to people with bad credit, ”said Andy. “We support you, even if you have bad credit. “

For fast cash loans, individuals can apply online for a loan between $ 500 and $ 2,000 and repay it over a period of 12 months.

Customers just need to submit a simple online request and get their results within an hour.

“Nifty is proud of their super easy application process. Our loan applications are 100% online and only take a few minutes to complete. Compare that to getting a loan in the past, where you had to physically apply for a loan from a bank manager. Using our application process couldn’t be simpler. All you need is a device connected to the Internet, and you are good to go, ”says Andy.

The company has taken a unique approach to getting its customers the money they need by ensuring that small, affordable and fast loans and bad loans are available to ordinary Australians without having to shop around. traditional lender.

“We pride ourselves on a pragmatic approach to loans. Those who choose to apply with Nifty enjoy quick results, high customer service standards, and a smart application form that doesn’t grant them any administrative loans, ”Andy adds.

Nifty also has a special blog section where Australians can check out some helpful guides and tips, including tips on how to pay off a loan faster and how to budget.

Nifty’s recent article provided the top 10 tips for loan approval for those with bad credit. Some of the best tips include checking credit scores frequently to make sure people are on top of their financial game, are considering a credit card, and are handling multiple types of credit.

Those wishing to learn more about Nifty’s requirements or how loans work can visit the website for more information.

Media contact
Company Name: Smart personal loans
Contact: Customer service
E-mail: Send an email
Country: Australia
Website: https://www.niftypersonalloans.com.au/

]]>
https://www.plamo.info/nifty-loans-company-offers-quick-personal-loans-for-people-with-bad-credit/feed/ 0
Check your finances now before you fall behind https://www.plamo.info/check-your-finances-now-before-you-fall-behind/ https://www.plamo.info/check-your-finances-now-before-you-fall-behind/#respond Fri, 17 Sep 2021 10:02:10 +0000 https://www.plamo.info/check-your-finances-now-before-you-fall-behind/ Fall is a great time to review your finances as there is still time to make adjustments before the end of the year. The lingering pandemic and economic uncertainty are complicating matters, but financial experts recommend taking a close look at your savings and planning your goals for 2022 now. Many government programs, including supplemental […]]]>

Fall is a great time to review your finances as there is still time to make adjustments before the end of the year. The lingering pandemic and economic uncertainty are complicating matters, but financial experts recommend taking a close look at your savings and planning your goals for 2022 now.

Many government programs, including supplemental unemployment assistance, suspension of federal student loan payments, and child tax credit advance payments, are set to expire in 2022 or earlier.

“People are starting to pay for things again,” says Malcolm Ethridge, a certified financial planner and host of the Tech Money Podcast.

Here are some financial tasks to do this fall:

Speed ​​up short-term savings

Ethridge suggests preparing now for the phase-out of government benefits: “The people who have been given a moratorium on your student loans, are using those extra dollars in your pocket to pay off credit card debt so you don’t have to. you don’t have to pay both at the same time, ”he says. . “We will find that we are not as rich as we thought for a year and a half,” he adds.

Ethridge also recommends building a cash stack. “We have no idea what next year will look like,” he said. Having cash on hand allows you to deal with unforeseen expenses as well as potentially take advantage of investment opportunities.

Anticipate tax changes

If you’ve undergone any major changes in the past year that could impact your tax situation, such as moving to a new state, getting married or divorced, or changing jobs, you may want to consider talking to a tax professional. . now, before their busy season begins in the new year and they are overwhelmed.

“They work long hours and focus on processing tax returns in the spring, and now is not a good time for them to dig deeper into your situation or give you strategic advice,” says Angela Moore, CFP and founder of Modern Money Education, which offers online personal finance courses for women.

Thinking about 2021

“It’s a good time to think about it: did we do what we said we were going to do? Says Christine Centeno, CFP and founder of Simplicity Wealth Management. She recommends reviewing your savings and spending over the past six to 12 months so you can make the necessary adjustments.

Open enrollment, when employees can make choices related to health insurance and other benefits like life insurance, also tends to take place before the end of the year. Centeno suggests carefully considering your options before making a final choice and considering any additional insurance needed, such as disability insurance or life insurance. Also make sure that the listed beneficiaries are up to date. “People are feeling more urgent to put things back in order” because of the pandemic, she said.

Complete pension contributions

“See if you can increase your pension contributions and maximize them before the end of the year,” says Moore. You can continue to contribute up to $ 19,500 to your 401 (k) until December 31; if you are 50 or older, you can contribute an additional $ 6,500 for the year. Roth IRA or IRA contributions can continue until the April 15 tax deadline.

If you are lucky enough to have already maximized your pension contributions for the year, you will notice that your paycheck is larger because these deductions are no longer taken. Ethridge suggests looking at additional savings options such as putting money into after-tax savings accounts or college savings for kids. Vacation spending also hits the end of the year, so setting aside some money for that is another good idea.

Prepare for 2022

Lazetta Rainey Braxton, CFP and co-CEO of 2050 Wealth Partners, says some people are also thinking about job changes right now.

“For a lot of people, they don’t want to go back to work in person, so they’re looking for new jobs,” she says. If so, you may need to put some money aside for a job transition, especially if it could mean lower pay, she says.

Other big goals for 2022 could finally include taking a vacation that was postponed earlier in the pandemic or renovating a part of your home that you spent so much time in. “The sooner people say what they want and put it on the table, you can put that money aside to be ready,” says Braxton.

Part of that planning also means preparing for continued economic turmoil, warns Frank Pare, CFP and chairman and managing partner of PF Wealth Management Group.

“If something happens, like the market reservoirs tomorrow, money should be set aside for your short-term goals so that the uncertainty doesn’t affect you,” he says. That way, he says, you can always pursue your plans, whether it’s finally retiring or taking a trip delayed by a pandemic.

This article was written by NerdWallet and was originally published by The Associated Press.

]]>
https://www.plamo.info/check-your-finances-now-before-you-fall-behind/feed/ 0
Helio 2021 Loan Review • Crypto Loans • Benzinga https://www.plamo.info/helio-2021-loan-review-crypto-loans-benzinga/ https://www.plamo.info/helio-2021-loan-review-crypto-loans-benzinga/#respond Wed, 08 Sep 2021 13:57:52 +0000 https://www.plamo.info/helio-2021-loan-review-crypto-loans-benzinga/ Helio Lending is a great platform that allows you to mine your digital assets for short-term cash. It’s simple and easy to use, and the company does all the work to find the best loan for you. Helio is a CeFi aggregator that offers several loan options to customers, starting with a loan amount of […]]]>

Helio Lending is a great platform that allows you to mine your digital assets for short-term cash. It’s simple and easy to use, and the company does all the work to find the best loan for you.

Helio is a CeFi aggregator that offers several loan options to customers, starting with a loan amount of $ 50,000. In addition, the company can also handle larger transactions in the range of millions of dollars.

The crypto-finance company helps you find the perfect loan based on your situation. Helio takes your loan needs into account and examines different currencies, interest rates, and loan terms from up to 9 lenders to find their clients the best loan for them.

To apply for a loan through Helio, you must click on the “get a loan” button on the home page. You then fill out a short form that asks you for details such as contact details, the amount you want to borrow, the ratio of the loan to the value of your asset, and the cryptocurrency you hold.

Helio offers loan-to-value ratios of 40%, 50%, 69% and 70%. Your APR depends on the loan-to-value ratio, which can be as low as 0%. The company also offers a flexible choice of repayment options that include interest-only or full repayments.

One downside to the signup process that prevents Helio from getting a 5-star rating is the initial difficulty in going through the steps to create an account. Several times the form kept hanging up. However, as long as the contact information you provide is correct, the company will contact you within 48 hours to proceed with the next steps.

Helio’s customer service offering is good. Unfortunately, it only provides one method of contact on its contact page, which is to send an email through the contact form on its website. However, you can schedule a free 15-minute consultation with the Helio team, allowing you to get all the information you need from one place.

To find the company contact number, you scroll down the home page to the frequently asked questions section, click “Can I speak to someone at Helio?” Question, and you’ll receive a contact number and email address.

Overall, Helio’s customer service team are friendly and helpful.

Helio also offers clients the opportunity to earn interest on their crypto holdings. Deposit cryptocurrency into an interest-bearing account and earn up to 10% per year. You can use this option with a wide range of stablecoins and altcoins, including USD Coin, Paxos, Stellar Lumens, Bitcoin, Litecoin, and Ethereum. In addition, Helio does not charge any withdrawal fees.

Elsewhere, Helio has partnered with a real estate transaction platform to allow non-fungible real estate tokens (NFTs) to be used as collateral for loans in the same way as a cryptocurrency-backed loan. Thanks to Helio and the partnership, you can use real estate NFTs as collateral to borrow up to 70% of the NFT value.

When calculating the APR, it includes the interest expense of the loan, fees and other costs related to the loan. With Helio, the APR can be as low as 0%, which it claims to be “the best rates on the market”.

Helio does not charge consumers any fees. Plus, you usually won’t have to worry about margin calls, you can count on loss protection for loans, and you will feel secure knowing that your digital assets remain in a cold warehouse. However, certain products supplied by Helio will be subject to a margin call. Usually these are loans over $ 1 million, but if you don’t want them included you can let the company know and they will only find products with no margin calls.

Of course, the main advantage of the platform is that you can use your crypto holdings as collateral to access money.

However, the platform offers other advantages, such as its simplicity. All you have to do is apply for the loan, and the company does the rest of the work, finding the best deal for you by comparing their 9 different lenders, at no cost to you.

The wide range of loan structures and deposit options gives Helio users great flexibility in choosing the best loan for them.

You can also use the platform as a way to earn interest on your crypto holdings or use Helio to use your digital assets (including NFTs) as a way to buy your next home. During this time, you can be sure that your cryptocurrency is stored safely.

The loan application process on Helio is straightforward and the site is easy to use. Once you click on the “get a loan” button on the home page, all you need to do is fill in the details and hit submit.

Contacting support by sending an email through the form on the website is also simple. The form appears once you have clicked on the “contact” page. However, finding the company’s contact number is a bit more difficult as it is not listed on the contact page. Instead, it’s displayed on the homepage in the FAQ section, which is why it didn’t get all the ratings here.