Power Bank

     Mi 10000mAH Li-Polymer Power Bank 2i (Black)

• 10000mAH lithium-polymer battery
• Dual USB Output, Two- way Quick Charge
• Compatible with 5V/2A, 9V/ 2A and 12V/1.5A charging, Mi Power Bank 2 intelligently adjusts power output up to 18W to deliver fast and efficient charging for each connected device
• Material: Aluminium Alloy + CNC Edge
• Lithium Polymer Battery makes it more durable and optimises charging efficiency
• Mi A1: 2.2 Full Charge and iPhone 7 : 3.5 Full Charge
• 6 months warranty:For any customer queries please contact-1800 103 6286

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What is Auto Loan and how can we get Auto Loan easily

Auto Loan 
An auto loan is a loan that person takes out in order to purchase a motor vehicle. Auto loans are typically structured as installment loans and are secured by the value of vehicle being purchased.

What is an Auto Loan?
 An auto loan is a loan taken out in order to purchase a motor vehicle. They are typically structured as installment loans and are secured by the value of car, truck, SUV, or motorcycle being purchased. 

What is a secured Loan? 
An auto loan is a type of secured loan, which means that the borrower must up a valuable item to serve as collateral. If the borrower is unable to pay back the loan, the lender can then seize the collateral and sell it in order to recoup their losses. Since auto loans are used to purchases motor vehicles, the vehicle that is being purchased is what serves as collateral. If a lender has to seize a borrower’s car due to non-payment of the loan, it is referred to as “repossession.” Until the loan is paid off, the borrower does not technically own the vehicle; the lender does. Once the loan is paid off then the borrower owns the vehicle outright. This is also sometimes referred to as owning the vehicle “free and clear.” Secured loans are typically less risky than unsecured loans, which do not involve any form of collateral. This means that auto loans typically have much lower interest rates than comparable unsecured loans, such as personal installment loans. However, a borrower’s creditworthiness (their credit score and/or credit report) will still be a factor when taking out an auto loan. The better the borrower’s credit score, the lower the interest rate they can secure. 

How is an Auto Loan structured? 
As with almost any loan, an auto loan consists of two distinct parts: the principal and the interest. The principal is the amount of money that is lent and is determined by the value of the vehicle. For instance, if you are using an auto loan to purchase a used truck that costs $10,000, then the principal amount for your loan would also be $10,000. Depending on the vehicle and the dealership, there might or might not be a required down payment amount. The larger the down payment, the lower the principal of the auto loan, which means lower costs for the borrower and reduced risk for the lender. If the borrower in that example put down a $1,000 down payment on the $10,000 truck, then the amount of their auto loan would only be $9,000. The interest on the other hand, is the amount of money that the lender is charging you on top of amount lent. It is essentially the “cost” of the loan, or how much the lender is charging you for the privilege of borrowing money. Generally, interest is expressed as an interest rate, which is a certain percentage of the principal over a certain period of time. To return to the previous example, if that $10,000 auto loan came with a 5 percent yearly interest rate, then the loan would accrue $500 in interest over the course of a full year. An auto loan’s simple interest rate is different than its annual percentage rate or APR. The APR includes any additional fees or charges that are included in the loan beyond the simple interest rate. So when shopping for an auto loan, the APR is the best way to discover the loan’s true cost. Auto loans are typically structured as installment loans, which means that the loan is paid off in a series of regular (usually monthly) payments. A typical auto loan will have a term that is anywhere from 36 months (3 years) to 60 months (6 years) long. The longer the loan is outstanding, the greater the amount of interest that accrues and the more the loan costs overall. However, auto loans with longer terms will usually have lower monthly payments, as each payment will represent a smaller fraction of the principal loan amount. Most auto loans are also amortizing, which is fairly standard for installment loans. With an amortizing loan, each payment made goes towards both the principal and the interest. This ensures that every payment made goes towards paying off the amount lent. Additionally, amortization makes loans slightly cheaper; since every payment pays down the principal amount, the amount being charged in interest declines as well. 

Where can I get an Auto Loan? 
There are two primary ways that a person can get an auto loan. The first is to get one from a direct lender, and the second is to get one through the car dealership.With a direct lender, a person would find a car that they wanted to purchase and then go visit their bank, credit union or local finance company. They would then work with the lender to secure a loan in the amount they needed. The car would still serve as collateral and the lender would technically own the car until the loan was paid off. While this option is usually slower the dealership financing, it will also usually result in a lower interest rate, as there are fewer parties involved. With dealership financing, the borrower can get an auto loan through the auto dealer where they are buying the car. Dealerships often has relationship with several different lenders, which means they can get multiple quotes and then select the most favorable one. This is by far the easiest and fastest option, as the borrower would not even have to leave the dealership in order to get approved. In theory—the entire car-buying process could be accomplished in a single visit. However, this option is usually more expensive, as the dealership will be making a profit off the loan, which translates to a higher interest rate for the borrower. 

What is the difference between an Auto Loan and an auto lease? The difference between an auto loan and an auto lease is essentially the difference between renting a car and buying one. With an auto lease, the lessee agrees to rent the car for a certain period of time or a certain number of miles driven, after which they turn the car back into the dealer. Some leases do include an option to buy the car at the end of the leasing period, but many do not. The payment for leasing a car are usually less than the payments on an auto loan.However, a person who leases a car will not own the car at the end of their payment period. And while motor vehicles all depreciate in value over time, a person who purchases a car with an auto loan is likely to still own a valuable asset once they have paid off their loan. Plus, that car owner will now be free of car payments on their vehicle, while a person who leases cars will always have to make monthly payments on their vehicles. 

What is the difference between an Auto Loan and a title loan? 
With an auto loan, you are taking out a loan in order to purchase a car. With a title loan, you are taking out a loan against the value of a vehicle that you already down. People who do not own their vehicles will be unable to take out a title loan against. Additionally, while almost all auto loans are structured as long-term installment loans, title loans are usually structured as short-term, month-to-month loans. In addition to the principal loan amount—which is often only 25 to 50 percent of the car’s total value—title loans come with a flat interest rate and have to be repaid in full (principal plus interest) and the end of the loan’s term. If the borrower cannot afford to pay back the entire amount, many title lenders will give them the option to roll their loan over. This means that the borrower pays back only the interest owed on the title loan and is given another month to pay the loan back. However, they will also be charged additional interest on that additional month, which can drastically increase the cost of borrowing. In fact, cost is one of the areas where auto loans and title loans differ. A standard auto loan will have an interest rate in the realm of 5 percent per year, whereas the average interest rate for a title loan is 25 percent per month. That adds up to 300 percent per year, making your typical title loan 60 percent more expensive than your typical auto loan. These high rates, along with loan rollover and a history of deceptive business practices and the, have led many to classify title loans as a form of “predatory lending.”

Education loan and How to get education loan

Education loan 
Education loan is a special kind of loan granted by banks under which some amount of money is granted to students at special rates. With the help of education loan, the students can achieve higher and costly studies at cheaper rates. 
Education loans are basically a form of monetary assistance availed by students to meet the expenses associated with their studies. Education loans can be taken by means of funding, scholarships, financing and rewards, and are granted in cash, which has to be repaid to the lender along with a rate of interest. 

Students who wish to avail education loans are advised to borrow based on their needs as the repayment periods for these loans can vary to a great extent depending upon the lender and the amount borrowed by the student. 
Most of the student loans available to individuals in India are granted at a relatively low rate of interest, and interest payments need not be made immediately. Students are usually granted a period of time before from the time they take the loan to the time they start making repayments. 

Education loans are unsecured loans that can be used to cover expenses related to education, such as tuition fees, books, living expenses and other such expenses as transportation costs, etc. If you wish to avail an education loan but are unemployed or still studying, a co-signer may be required to avail an education loan, like an eligible adult such as a friend, parent or relative. The repayment of the loan can be done once the student has completed his/her education. Given the flexible terms and conditions associated with the repayment of an education loan, availing one is fairly simple and straightforward.

How to get education loan 
In order to avail education loan; students have to submit following documents in the respective bank: 

• The details of the course in which student have taken admission. 
• Total expenditure of course Marksheet of previous examination passed 
• Full details of scholarship availed, if any 
• Xerox of bank statement of last 6 months 
• Residential proof Income tax statement order 
• Property details 
• Two passport sized photographs 

Eligibility for education loan 

The eligibility requirements for education loan are: 

• Age limit for education loan varies from bank to bank. Generally it is from 16 to 35. 
• Students should have a good academic record 
• Students should not have year lap during their education 
• Parents should have a definite source of income 

From where to avail education loan 

Education loan facility is available in each branch of each bank of the country. According to government plans, banks should distribute education loan on the priority basis. 

Education loan limit 

Normally the students can get education loan for studying in India to a maximum limit of Rs. 4 lakhs without any security. Banks can grant loan with security up to Rs. 10 lakhs. On the other hand, you can get loan of up to Rs. 20 lakhs for studying abroad. You need to deposit some security with the bank as bail on loan exceeding Rs. 4 lakhs. This amount of loan may vary from bank to bank. Some banks offer 75% to 90% of course fee as education loan. Some banks offer loan 6 to 10 times of your parents' income. In other words, the HDFC education loan rate will be different from education loan interest in SBI. 

How to repay education loan 

The rules to repay education loan are quite simple. You have to start repayment of loan after six months of completion of course or after joining a job. If, in any case, student is unable to repay the loan, then the responsibility shifts to the guarantor. You can avail tax exemption on repayment of education loan which varies from bank to bank.

What is Home Loan and Key types of home loans

A home loan  is a secured loan that borrowers obtain in order to purchase a home. Because a home is the largest purchase many individuals will ever make, most borrowers utilize home loans to assist with their home purchase.

Home Loan plays an important role in helping one with easy availability of your dream home. There are a number of banks that offer home loans at low interest rate. You may want to either want to buy a new home or construct one; it has few formalities starting from submitting the application for disbursement of loan amount. Keeping basic documents ready in hand saves time and effort. Home Loan amount varies from person to person depending on the repayment capacity, age and income of the loan seeker, his/her dependents and so on. The loan is available to those who are eligible for a contract such as any person who is not less than 18 years, must not be insane and should not be insolvent or bankrupt. Loans are offered to salaried individuals, professionals or businessmen or self-employed individuals and NRI’s.

Some facts related to home loan

Borrowers must apply for a home loan with a lender such as a bank or credit union. Lenders require borrowers to provide proof of income to demonstrate that their income level allows them to comfortably afford the loan. Borrowers must also allow the lender to evaluate their credit history. This lets the lender determine how likely the individual is to make his mortgage payments in a timely manner.

Significance of home loan

 Mortgage loans carry an interest rate. This interest rate may be fixed and unchanging or variable and subject to change, depending on the type of loan program the borrower selects. The lower the interest rate, the less the individual pays over time for the privilege of the home loan.

Key types of home loans 

To help you understand which type of home loan may be best suited to your needs, let’s take a look at the key types of home loans available and how they work. There are hundreds of different home loans out there in the mortgage marketplace. But fundamentally, they are all based on two key things: 

• Principal – the amount of money you borrow 
• Interest – how much you pay to borrow the money. It’s calculated on the outstanding principal                                                                                                                                          From here, there is a wide variety of home loan features and structures to choose from, and it’s worth knowing what’s involved with each to make an informed decision. 

Variable rate loans This is the most popular type of home loan in world. The interest rate you pay may vary in line with movements in market interest rates, so you can expect the repayments to vary (up and down) over the course of the home loan. 

Fixed loans With this type of home loan the rate you pay – and the home loan repayments, are fixed for a set period, usually between one and five years. This makes it easier to budget for repayments and you are protected from increases in market interest rates. The downside is that if rates fall, you could end up paying more than necessary. 

Split loans Many lenders will let you fix one part of your home loan, while the remaining portion has a variable rate. This can give you the best of both worlds – some protection from rising rates though still with the ability to benefit from any rate cuts.

what is loan and types of loan

A loan is a lump sum of money that you borrow with the expectation of paying it back either all at once or over time, usually with interest. Loans are typically a fixed amount, like $5,000 or $15,000. The exact amount of the loan and interest rate varies depending on your income, debt, credit history, and a few other factors. There are many different types of loans you can borrow.

A loan is when you receive money from a friend, bank or financial institution in exchange for future repayment of the principal, plus interest. The principal is the amount you borrowed, and the interest is the amount charged for receiving the loan. Since lenders are taking a risk that you may not repay the loan, they have to offset that risk by charging a fee - known as interest. 

Types of Loan
Knowing your loan options will help you make better decisions about the type of loan you need to meet your goals. 
Open-Ended loans Open-ended loans are loans that you can borrow over and over. Credit cards and lines of credit are the most common types of open-ended loans. Both of these loans have a credit limit which is the maximum amount you can borrow at one time. You can use all or part of your credit limit depending on your needs. Each time you make a purchase, your available credit decreases. As you make payments, your available increases allowing you to use the same credit over and over as long as you abide by the terms. 

Closed-ended loans are one-time loans that cannot be borrowed again once they’ve been repaid. As you make payments on closed-ended loans, the balance of the loan goes down. However, you don’t have any available credit you can use on closed-ended loans. Instead, if you need to borrow more money, have to apply for another loan and go through the approval process over again. Common types of closed-ended loans include mortgage loans, auto loans, and student loans. 

Secured loans Secured loans are loans that rely on an asset as collateral for the loan. In the event of loan default, the lender can take possession of the asset and use it to cover the loan. Interests rates for secured loans may be lower than those for unsecured loans. The asset may need to be appraised to confirm its value before you can borrow a secured loan. The lender may only allow you to borrow up to the value of the asset. A title loan is an example of a secured loan. 
Unsecured Loans Unsecured loans don’t require an asset for collateral. These loans may be more difficult to get and have higher interest rates. Unsecured loans rely solely on your credit history and your income to qualify you for the loan. If you default on an unsecured loan, the lender has to exhaust collection options including debt collectors and lawsuit to recover the loan. 

Conventional Loans When it comes to mortgage loans, the term “conventional loan” is often used. Conventional loans are those that aren’t insured by a government agency like the Federal Housing Administration (FHA), Rural Housing Service (RHS), or the Veterans Administration (VA). 

Varieties of Loans 
Personal loans - You can get these loans at almost any bank. The good news is that you can usually spend the money however you like. You might go on vacation, buy a jet ski or get a new television. Personal loans are often unsecured and fairly easy to get if you have average credit history. The downside is that they are usually for small amounts, typically not going over $5,000, and the interest rates are higher than secured loans. 

Cash advances - If you are in a pinch and need money quickly, cash advances from your credit card company or other payday loan institutions are an option. These loans are easy to get, but can have extremely high interest rates. They usually are only for small amounts: typically $1,000 or less. These loans should really only be considered when there are no other alternative ways to get money.

Student loans - These are great ways to help finance a college education. The most common loans are Stafford loans and Perkins loans. The interest rates are very reasonable, and you usually don't have to pay the loans back while you are a full-time college student. The downside is that these loans can add up to well over $100,000 in the course of four, six or eight years, leaving new graduates with huge debts as they embark on their new careers. 

Mortgage loans - This is most likely the biggest loan you will ever get! If you are looking to purchase your first home or some form of real estate, this is likely the best option. These loans are secured by the house or property you are buying. That means if you don't make your payments in a timely manner, the bank or lender can take your house or property back! Mortgages help people get into homes that would otherwise take years to save for. They are often structured in 10-, 15- or 30-year terms, and the interest you pay is tax-deductible and fairly low compared to other loans. 

Home-equity loans and lines of credit - Homeowners can borrow against equity they have in their house with these types of loans. The equity or loan amount would be the difference between the appraised value of your home and the amount you still owe on your mortgage. These loans are good for home additions, home improvements or debt consolidation. The interest rate is often tax deductible and also fairly low compared to other loans.

Small business loans - Your local banks usually offer these loans to people looking to start a business. They do require a little more work than normal and often require a business plan to show the validity of what you are doing. These are often secured loans, so you will have to pledge some personal assets as collateral in case the business fails.

What is personal loan and how can we easily get personal loan

It is an unsecured loan taken by individuals from a bank or a non-banking financial company (NBFC) to meet their personal needs. It is provided on the basis of key criteria such as income level, credit and employment history, repayment capacity, etc. 

Unlike a home or a car loan, a personal loan is not secured against any asset. As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction anything you own. The interest rates on personal loans are higher than those on home, car or gold loans because of the greater perceived risk when sanctioning them. 

Personal Loan is your solution for instant cash and can be used for traveling, wedding, medical emergency, home renovation, or anything else. To know how to get an easy Personal Loan, first check the personal loan Eligibility criteria. Know your EMIs using the Personal Loan EMI Calculator and apply for a personal loan to finance your needs. Make sure you maintain a good credit score and a clean credit history to avail personal loan easily."
Individuals who can take a Personal Loan

• Salaried Employees 
• Salaried doctors 
• Employees of Public and private limited companies 
• Government sector employees including Public Sector Undertakings and central and local bodies 
• Minimum age of 21 years Maximum age of 60 years at loan maturity 
• Minimum net monthly income – Rs. 15,000 or $250

Documents required for Personal Loan Application form 

1. Photograph 
2. Age proof ID 
3. proof Income 
4. proof Bank statement 
5. Residence proof 
6. Signature 
7. verification proof 

Eligibility criteria 
Although it varies from bank to bank, the general criteria include your age, occupation, income, capacity to repay the loan and place of residence. 

To avail of a personal loan, you must have a regular income source, whether you are a salaried individual, self-employed business person or a professional. An individual's eligibility is also affected by the company he is employed with, his credit history, etc. 
For what purposes can it be used? 
It can be used for any personal financial need and the bank will not monitor its use. It can be utilised for renovating your home, marriage-related expenses, a family vacation, your child's education, purchasing latest electronic gadgets or home appliances, meeting unexpected medical expenses or any other emergencies. Personal loans are also useful when it comes to investing in business, fixing your car, down payment of new house, etc. 
Repaying the loan 

It can be repaid in the form of EMIs via post-dated cheques (PDC) drawn in favour of the bank or by releasing a mandate allowing payment through the Electronic Clearing Services (ECS) system. 
Prepayment/foreclosure charges 
If you decide to pay off your loan before its tenure has completed, you get charged an additional fee called prepayment/foreclosure charge/penalty. This penalty usually ranges between 1 and 2% of the principal outstanding. Some banks, however, charge a higher amount to foreclose a loan.

What is Health Insurance and why we need Health Insurance ?

What is Health Insurance?
Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.
Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.
 In health insurance terminology, the "provider" is a clinic, hospital, doctor, laboratory, health care practitioner, or pharmacy. The "insured" is the owner of the health insurance policy; the person with the health insurance coverage. In countries without universal health care coverage, such as the USA, health insurance is commonly included in employer benefit packages and seen as an employment perk.

Why get health insurance? 
Everybody at some time in their life, and often on many occasions, will need some kind of medical attention and treatment. When medical care is required, ideally the patient should be able to concentrate on getting better, rather than wondering whether he/she has got the resources to pay for all the bills. This view is becoming more commonly held in nearly all the developed nations.

Health insurance, also known as private medical insurance, is designed to ensure that if you need medical treatment in future, you won’t need to worry about paying for the cost of the treatment. If you’re treated privately, health insurance will pay all or some of your bills. It should get you diagnosed and treated quickly, as well as offer you a prompt referral to a consultant and admission to a private hospital at a time and place that is convenient for you. With health insurance, you’ll have a choice of private hospital from an agreed list provided by your insurer - most hospitals offer a private en-suite room, TV and a choice of food, which you wouldn’t necessarily get as a normal patient. 

Benefits of private health insurance
Shorter waiting times for treatment 
Better facilities 
Faster diagnosis 
Choose from a range of private facilities 
Choose a convenient time for appointments and treatments

Need for Health Insurance 
Medicare or medical costs are rising year on year. As a matter of fact, inflation in medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, medicare costs usually escalate in double digits. For an individual who hasn’t saved that much money, arranging for funds at the eleventh hour can be a task. This is particularly daunting for seniors, given that most ailments strike at an advanced age. One way to provide for health-related / medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease / ailment coverage. 
For instance, certain health insurance plans cover as many as 30 critical illnesses and over 80 surgical procedures. The insurance plan disburses the payment towards surgery/illness regardless of actual medical expenses. The policy continues even after the benefit payment on selected illnesses. With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes health insurance policies critical for individuals, especially if they are responsible for the financial well-being of the family.

Types of Health Insurance 

1.  Hospitalization Plans Hospitalization plans reimburse the hospitalization and medical costs of the insured subject to the sum insured. For this reason, the plans are also known as indemnity plans. The sum assured can be fixed -                                                                    i- For a member of the family in case of individual health policies or        ii- For a family as a whole in case of a family health insurance policy For instance, consider a three-member family with an individual cover of Rs 1 lakh each. Each member can claim reimbursement for a maximum of Rs 1 lakh as all three policies are independent. If the family applies for a family health plan cover of Rs 3 lakhs, then any family member can claim medical benefit for more than Rs 1 lakh so long as it is within the overall sum assured of Rs 3 lakhs. 
2. Family floater plans If you want to buy health insurance for your whole family, you should opt for a Family Floater plan. Unlike Individual Health Insurance, the Family Floater plan gives you a single insurance cover for your entire family so anybody in your family can claim in case of hospitalization or surgical expenses. More than one family member too can simultaneously avail the benefits of the Family Floater health insurance plan. Just like the individual plan, you have to pay a premium for the Family Floater plan. Of course, only one of the family members has to pay. Also, just like you often avail a discount by buying goods in bulk, the Family Floater plan turns out to be cheaper than individual policies.
3. Hospital Daily Cash Benefit PlansThe daily cash benefit plan is a defined benefit policy. As evident from the name,the policy pays out a defined sum of money for every day of hospitalization regardless of actual costs. For instance, the hospitalization costs for a day may be Rs 2,000/day and the defined daily limit of the policy could be Rs 1,500/day, in which case the insured receives the latter. On the other hand, if the hospitalization cost is Rs 1,000/day, he still receives Rs 1,500/day. 
4. Critical Illness Plans These are benefit-based health insurance plans which pay a lumpsum amount on diagnosis of predefined critical illnesses and medical procedures. The illnesses are specified at the outset. By nature, critical illnesses are high severity and low frequency and cost of treatment is higher compared to regular medical problems like heart attack, stroke, among others.