Blog Articles
Top Personal Finance Habits You Must Follow
No matter whether you are beginning to get your finances or you have got your finances more than Elon Musk, creating good financial habits will help you set up for your success in life. To help you get started, here are some financial habits you need to develop.
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Top Possible Business in Nepal After COVID-19
Coronavirus has brought the world to a standstill and as a result, many businesses are struggling to stay afloat. However, some industries have tremendously increased their profit despite lockdown and are likely to continue post-pandemic. In the current situation, we shall focus on grasping the current work opportunities that COVID 19 lockdown has generated.
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What is a Base Rate ?
Base rate is defined as the minimum interest rate below which the banks are not permitted to lend to their customers. Unless there is a government mandate, the NRB rule specifies that no bank may offer loans at an interest rate lower than the base rate. Loans are priced by adding the base rate to a suitable spread, subject to the credit risk premium.
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Loan To Value Ratio
Loan to value ratio (LTV) ratio refers to the proportion of the value of a property that a lender agrees to finance when you take out a loan.The LTV ratio plays a crucial role, and is especially considered in case of high value loans to be sanctioned by the financial institutions
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What is a Cheque Bounce?
A cheque is said to be bounced or dishonored when a bank refuses to make payment to the party by returning the cheque due to insufficient funds, overwriting in the cheque, mismatch of signature, expired cheque, etc.
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How The Interest-free Period Is Calculated on your Credit Card ?
Banks, of course, want you to spend your money using Credit Cards. This is because they earn a commission i.e,1-2% of the total purchase value from the merchant you have purchased from. However, you are given an interest-free period to pay back the money you have spent from your Credit Card. The interest free period given by the Credit Card company is normally 45 days in Nepal.
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Bank Guarantee
Bank guarantee is a kind of guarantee from a lending organization. The bank guarantee signifies that the lending institution ensures that the liabilities of a debtor are going to be met. In other words, if the debtor fails to perform the obligation, the bank will cover it
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EMI(Equated Monthly Installment)
Equated Monthly Installments(EMI) represents a fixed sum of money consisting of both principal and interest repayment of the loan obligation, adjusted with time value of money over a certain period of time.
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