http://www.usaprimeloans.com/ Sun, 19 Sep 2021 17:32:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 How to open a UAE savings account from abroad http://www.usaprimeloans.com/how-to-open-a-uae-savings-account-from-abroad/ Wed, 15 Sep 2021 00:45:29 +0000 http://www.usaprimeloans.com/how-to-open-a-uae-savings-account-from-abroad/

Your work can take you anywhere in the world. When you move to a new country, you need a few essentials to survive. One of them being a savings account. Whether you are settling permanently in the United Arab Emirates or moving there for a few months, you will need a savings account to manage your finances and financial transactions. Understanding the importance of a savings account in the UAE, the country’s standards allow individuals to open a bank account from abroad so that your finances are even sorted out before you arrive.

Why open a UAE savings account from abroad?

Whether you are moving to UAE for a few months or permanently, you need to transfer your money to the country for two reasons. First, you can’t move all your money from one country to another. While traveling, it can be difficult to carry cash. If you lose your luggage or your wallet, you can end up losing the gains of your life. If you are moving to the United Arab Emirates for a few months, you will still need to carry the cash with you. In addition, you will also need a regular money transfer. Therefore, in either case, it is more beneficial to open a savings account in UAE before moving to the country.

Can I open UAE savings account from abroad?

Although you are allowed to open a bank account in the United Arab Emirates, there will be restrictions on where and what type of bank account you can open. UAE standards require that an individual be physically present to open a bank account, including UAE savings account. But you can open a savings account from abroad without being physically present with international banks operating in UAE such as Citibank, HSBC, Standard Chartered and others. In some cases, you may choose to hire a local-international representative who will act on your behalf in the UAE to open your savings account. Also, according to the rules, most UAE banks will allow non-residents or tourists to only open a savings account.

Banking restrictions

When you open a savings account as a foreigner, you are required to operate your account with certain restrictions:

  • First, there will be a limit on how much you can borrow in a day or in a month.
  • Second, since you will be opening a savings account, you will not receive a checkbook. However, you will receive a debit card for transactions via ATM.
  • Third, the services available to you will be limited.
  • Fourth, you will be allowed to open UAE savings account with any currency from GBP, USD to Japanese Yen. However, the interest rate on currencies except the AED and the USD is often negative, which means that you will end up paying money to maintain the savings account.
  • Finally, since you will be operating your account from outside the country, you will need to maintain a minimum balance to avoid any fines or additional charges.
  • Some UAE banks may require you to maintain a minimum balance of up to $ 100,000 to open a bank account from abroad.

Documents required to open a UAE bank account from abroad

  • Copy of passport with UAE entry stamp
  • Passport-size photograph
  • Completed application form
  • An original copy of a reference letter from your bank where you have your bank account in your home country or in any other country
  • An updated Curriculum Vitae (CV)
  • An original copy of your account statement for the last six months from your bank account anywhere in the world.

Procedure for opening a bank account

When you are abroad, follow these steps to open a savings account in UAE:

Step 1: Find the bank of your choice that allows you to open UAE savings accounts from abroad.

Step 2: Contact the bank to confirm the required documents

Step 3: Visit the bank and discuss your needs

Step 4: The bank will open a bank account

Please note that this account will not be fully activated until you travel to the United Arab Emirates for the final account setup.

Alternatively, you can open a savings account with an international bank and transfer your savings account to the UAE.

Once you have arrived in the UAE, you can complete the account setup to receive a debit card and complete transactions.

If you want a checkbook, you can open a checking account in the United Arab Emirates after receiving your Emirates ID. However, as a first step, if you open a bank account from abroad, you need to open a savings account with an international bank so that you can transfer the amount easily.

List of international banks offering the best savings account in UAE

  • CitiBank
  • HSBC Bank
  • Standard chartered bank
  • Royal Bank of Canada

Best local banks offering savings account in UAE

Once you have moved to UAE, you can also refer to other local banks that offer the best savings account options in UAE:

  • Abu Dhabi Commercial Bank
  • Islamic Bank of Abu Dhabi
  • Ajman Bank
  • Arab bank
  • Dubai Commercial Bank (CBD)
  • International Commercial Bank (CBI)
  • Islamic Bank of Dubai
  • Emirates NBD
  • Abu Dhabi’s leading bank (FAB)
  • Mashreq Bank
  • NBF Bank
  • RAKBANK
  • United Arab Bank

Conclusion

With certain restrictions, you can open a UAE savings account from abroad. However, only a savings account is offered in such cases and you can only use this facility with international banks operating in the United Arab Emirates. If you do not wish to continue with the bank or wish to open another type of bank account, you can do so once you arrive in the UAE. However, before coming to UAE, you should consider opening UAE savings account to facilitate transactions.

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6 best cryptocurrency savings account in 2021; Deposit cryptos and earn interest up to 8% http://www.usaprimeloans.com/6-best-cryptocurrency-savings-account-in-2021-deposit-cryptos-and-earn-interest-up-to-8/ Sun, 12 Sep 2021 08:00:29 +0000 http://www.usaprimeloans.com/6-best-cryptocurrency-savings-account-in-2021-deposit-cryptos-and-earn-interest-up-to-8/

Blockfi

The BlockFi Interest Account is the perfect place to earn interest on Bitcoin, Ethereum, and stablecoins. BlockFi, a fully regulated and licensed bank-type provider of cryptocurrency savings accounts, loans and foreign exchange services, was formed in 2017 and has financial licenses to operate in 48 US states.

They usually have the best rates for stablecoins, which are cryptocurrencies whose value is directly tied to the value of a fiat currency such as the US dollar. USD Coin (USDC), GUSD, and PAX, for example, are all stablecoins that can earn 7.5%. Tether (USDT) has the potential to gain up to 7.5%.

Nexo

Nexo

Nexo’s high yield interest accounts pay up to 12% APY on 17 different cryptocurrencies daily. Only members of the Nexo loyalty program, which is based on holding their original coin, the NEXO token, benefit from the best rates.

Cryptocurrencies such as Bitcoin, Ethereum, and Ripple have rates ranging from 4% to 8%. Stable coins like USDT, USDC, and DAI, as well as cash deposits in USD, GBP, and EUR, yield between 10% and 12%.

Celsius network

Celsius network

Celsius Network is not only the most transparent but also the most profitable crypto lending platform in the world. It was launched in 2017 by serial entrepreneur Alex Mashinsky (one of the inventors of VoIP), and it already has over $ 200 million in funding and 40,000 active wallets.

Celsius Network offers some of the best cryptocurrency interest rates and accepts a variety of leading cryptocurrencies and stablecoins including Bitcoin, Ethereum, USDC, PAX, and others. Plus, it pays weekly interest, with the possibility of earning more when paid in Celsius native cryptocurrency CEL.

YouHodler

YouHodler

With offices in Cyprus and Switzerland, YouHodler is a European banking-style crypto asset management platform. The company offers a crypto savings account with a high compound interest rate of up to 12%, as well as crypto-fiat loans with loan-to-value ratios of up to 90%.

There are a total of 25 cryptocurrencies and stablecoins to earn interest on, with BTC paying 4.8%, ETH 5.5%, LINK 6.2%, and stablecoins paying around 12%. There is no lock-in period with YouHodler, and investors can withdraw or sell their assets at any time.

Binance Win

Binance Win

Binance Earn is Binance’s one-stop crypto interest solution. Binance Earn provides a comprehensive set of staking and savings solutions to earn passive income from your crypto assets without having to trade.

There are over 60 cryptocurrencies and stablecoins to choose from, with fixed or varying terms for earning interest.

Regular savings products, milestones and DeFi solutions are available to users, each with their own set of risks, conditions and rewards. Savings with flexible or defined terms, Locked Staking, DeFi-Staking, ETH 2.0 Staking, Liquid Swap, Launchpool and the yield aggregator BNB Vault are some of these options. While the various features can be intimidating at first, if you’re willing to learn how to use them, Binance’s savings and staking solutions could potentially generate passive income.

Loan of parts

Loan of parts

Coinloan is a legal and regulated cryptocurrency lending and borrowing market established in Europe. The company started operations in 2016 and is regulated by the Estonian Financial Supervisory Authority, indicating that it holds a European financial license.

Interest on the cryptocurrency is calculated daily on your deposit and credited to your wallet on the first of each month. Interest rates for coin loans vary, but can be as high as 12% per annum. CoinLoan keeps cryptoassets in offline, cold, multi-signature wallets with digital asset custodian BitGo, which is insured by Lloyd’s for $ 100 million.

6 best crypto savings account in 2021

6 best crypto savings account in 2021

Rank Society Stablecoins Bitcoin Ethereum
1 BlockFi 8.6% 6% 5.25%
2 Celsius network 10.5% 4.74% 5.5%
3 YouHodler 12% 4.8% 4.5%
4 Binance 12.4% 7.40%
5 Loan of parts 10.3% 5.2% 5.2%


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Is It Wise To Borrow Money To Invest In Your Startup? AFN News http://www.usaprimeloans.com/is-it-wise-to-borrow-money-to-invest-in-your-startup-afn-news/ Wed, 08 Sep 2021 15:05:23 +0000 http://www.usaprimeloans.com/is-it-wise-to-borrow-money-to-invest-in-your-startup-afn-news/
Previous story:

Sandeep Mohan’s highly anticipated contemporary drama film Nirmal Anand Ki Puppy is gearing up for theatrical release

Is it wise to borrow money to invest in your startup?

Posted on September 8, 2021

After validating an idea that has circulated in your brain, the overwhelming belief that it has the potential to develop is a real test. The idea can only be tested when it is built and a minimum viable product or prototype will do. Even if these factors are ignored, minimal capital investment is required to fund the start-up objects. Most current start-ups are initially financed by the founders either by their own savings or by bank loans, but what if you have no savings and do not want to borrow from the bank?

The difference between traditional businesses and start-ups

Traditional businesses often come with predictable cash flow, which makes it possible to borrow bank loans to fund them because the bank will provide you with leverage that will require you not to dilute your stake in the business. Most of the time, traditional businesses offer a secure way to make money in the long run. However, things are slightly different for start-ups because it involves risk and therefore financing a start-up is also risky because you don’t know if you will make a profit or not like any other. Sambad Lottery. If you borrow money from a bank for your business for your start-up, it doesn’t matter if you make a profit or a loss, the loan must be repaid within a specified time. Plus, it’s no secret that startup failure rates are very high, making it difficult for founders to choose to withdraw money from the bank. This is one of the main reasons founders prefer to start the business at an early stage. When you run out of savings to finance the start-up, the only option left is to raise funds.

Will Angel Investors and Venture Capitalists Fund Your Startup?

When raising funds for a start-up, we often look to angel investors or venture capitalists. The harsh reality is that it is not possible to recover funds from them at an early stage. The simple reason is that early stage startups are risky, even for those who see raising funds from an angel investor or venture capitalist as a viable option. Just like the result of a Team result, even investors want to have solid proof that the business is doing well by having solid proof and, unfortunately, creating that proof takes money.

It’s okay to borrow money from friends and family

If you do not have enough money in your savings account to finance the start-up or cover its needs and you have ruled out borrowing money from a bank or raising funds from investors , the only option left is to borrow money from friends or family. If you are lucky, you will find someone your friend or family who has enough capital to support your business. However, it goes without saying that risking their hard earned money is a difficult decision and requires careful thought. If you’re thinking about borrowing money from friends or family, you’ll be relieved to hear that many Founders have followed this month. The popularity of fundraising in this way for pre-seed investing is so popular that it has been called the FFF (Fools, Friends and Family) round in the startup community.

If someone is personally invested in your success, borrowing a certain amount of money shouldn’t be a problem. Yes, it does come with risks but sometimes it is worth it and even if the money borrowed from your parents does not bring in any return, it can be seen as an investment in your personal development. Borrowing money from parents shouldn’t prove to be a problem for their children, as it can be used as a way to support a child in need. Plus, borrowing money from friends or family won’t require you to earn 10x return. The only downside is if the lender doesn’t understand the implication of the money they loaned and ends up losing it could cost you dearly in your relationship. It is, of course, a terrible situation, but everything in life requires risk and sometimes a leap of faith can work wonders. If you are considering borrowing money from your friend or family for a seed investment, it is best to explain the implications of this to them first and once you have the money use it to create your start-up and make sure you make the money within a considerable time.


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How To Borrow Money From BTC – Crypto Lending Explained http://www.usaprimeloans.com/how-to-borrow-money-from-btc-crypto-lending-explained/ Sat, 28 Aug 2021 09:56:56 +0000 http://www.usaprimeloans.com/how-to-borrow-money-from-btc-crypto-lending-explained/

Borrowing and returning with interest is an old profession. If you are in a crypto investment, you know that cashing in your coins or trading is not the only way to get money. Investors who have registered their coins on trusted platforms that earn interest can also borrow cryptocurrency or fiat currency and use their deposited digital assets as collateral.

Any investor who is considering seizing this opportunity should first know how to borrow money from BTC. The good news is that there is a lot of information to help you make informed decisions about Bitcoin lending sites, and this article just happens to be one of the sources.

How To Borrow Money From BTC – What You Need

  • A reliable crypto-lending platform – These platforms offer loans while allowing investors to save and earn interest. So while choosing, find one with affordable crypto loan rates and high interest rates on your savings. There are many platforms as we will see shortly. Once you’ve chosen one, open an account and start saving.
  • Bitcoins – Before you even know how to borrow money from BTC, you need to have BTC that you will use as collateral. For now, they can be in your digital wallet ready to be deposited into your crypto savings account. However, well-established platforms like YouHodler allow you to directly top up your account with BTC using fiat currency or other cryptos through their inbuilt exchange.

How to borrow money from BTC – best platforms

To successfully borrow Bitcoin online, a reliable and trusted crypto-lending platform plays a major role. Since they all claim to be the best, take your time to research and figure out how to borrow BTC money on each of them. This list will help you make up your mind.

  • YouHodler – Are you looking for a platform to securely register your Bitcoin to earn interest and later borrow money against it? YouHodler is one of the most trusted platforms for several good reasons. The interest rates on your investment are excellent and the loan rates are affordable. In addition, it is very secure. In addition to “hodling” and borrowing money for Bitcoin, YouHodler opens up a lot of other crypto opportunities, especially when connecting with other members of the community.
  • Hodlnaut – It’s an alternative to YouHodler, and it has a pretty similar concept. If you are wondering how to borrow money from BTC on another platform, opening a Hodlnaut account will open up great opportunities for you. The platform handles BTC and many other cryptocurrencies, and it’s worth checking out.
  • CoinLoan – Looking for the best way to ‘lend my crypto’ to a trusted community? CoinLoan is a platform that will help you grow your assets and offer loans against the crypto you have registered. Their minimum deposits are attractive, as are the loan fees. If you are a beginner, this might be an ideal option.

Conclusion

Now that you know how to borrow money from BTC, don’t leave your digital investment in a digital wallet idle. The above information is invaluable for any new crypto enthusiast or even any seasoned investor. This will help you understand crypto loans.


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Savings account vs. Money market account vs. CD: Which is the best? http://www.usaprimeloans.com/savings-account-vs-money-market-account-vs-cd-which-is-the-best/ Thu, 26 Aug 2021 15:36:55 +0000 http://www.usaprimeloans.com/savings-account-vs-money-market-account-vs-cd-which-is-the-best/
  • A savings or money market account could be a good place to keep your emergency fund.
  • You can use a CD to save for a goal a few years from now, like buying a house.
  • Your choice between the three accounts will likely depend on when you need your money.
  • See Insider’s Picks For The Best High Yield Savings Accounts »

A savings account, money market account, and certificate of deposit are three places where you can save your money. But how do you choose the one that best suits your situation?

Your right choice will come down to several details, including interest rates and how much you have available for an opening deposit. The most important factors will probably be when and how you want to access your money.

Which account is best during the COVID-19 pandemic?

Many Americans have changed the way they think about their savings during the coronavirus pandemic. So which of these three savings tools is the best option right now?

You probably want easy access to your money during the pandemic. If you’re one of the many Americans who lose their jobs, you’ll need to tap into emergency savings to cover necessary expenses. You could also face a huge and unexpected hospital bill if you or a family member becomes ill.

This means that a savings or money market account is probably the best choice these days. If you have an emergency and need to withdraw funds from a CD sooner, you will need to pay an early withdrawal penalty.

But depending on your situation, you might still want to open a CD, especially if you already have a fully funded emergency fund in another account and want to save for another purpose. For example, you might want to buy a house in a few years. You could open a 2-year CD and earn a guaranteed rate of return without risking your home equity savings.

Savings account vs money market account vs CDs

Here are the main differences between savings accounts,

money market accounts
, and CDs. These are general rules, but keep in mind that accounts vary by institution. For example, this table indicates that more CDs require high minimum deposits, but banks like Ally and Capital One don’t have a minimum.

Still not sure which account is right for you? Here are the pros and cons of each type:

Advantages and disadvantages of savings accounts

Pros and Cons of Money Market Accounts

Advantages and disadvantages of CDs

What is a savings account?

A savings account is a place to put the money you might need for the next two years. It’s also a great place to store your emergency fund, or money you’ll need if you lose your job or your car unexpectedly breaks down, for example.

Savings accounts generally require a low minimum deposit. You can probably open one with $ 100 or less, and many don’t require an opening deposit at all.

Few savings accounts come with debit cards or paper checks, so you’ll want to find a way to quickly access your savings if needed. In most cases, this means opening your savings account at the same bank as a checking account. This way, you can just transfer funds between accounts and spend the money almost instantly.

You will earn interest on a savings account, but the rate may change after you open it. Rates tend to rise when the economy is booming and fall when it is struggling. Many banks pay low rates on savings accounts – the national average is 0.05%. But you can open a high yield savings account at an online bank like Ally, Discover, or Capital One to get much better rates.

What is a money market account?

Money market accounts work the same way as savings accounts. These are useful tools for saving for relatively short-term goals. You will earn interest on your money, but the rate may change after you open the account.

Depending on the bank, you may need a low to medium minimum opening deposit. Some institutions do not have a minimum deposit amount, while others charge hundreds or even thousands of dollars.

The biggest difference between a savings account and a money market account is the way you access your money. With a savings account, you will likely need to transfer funds to a checking account. But money market accounts usually come with debit cards or paper checks, making it easier to spend your money. This means that money market accounts are particularly useful places to store your emergency savings, as you can access your money in the blink of an eye.

You can find money market accounts online with high rates. Some of the more competitive accounts are those of Axos, Sallie Mae and CIT Bank.

What is a CD?

A certificate of deposit is another type of savings tool, but it works differently from a savings or money market account.

You choose a CD term, such as six months, one year, or five years. You will deposit money on your CD and withdraw funds when the term ends. You can’t early withdraw money unless you want to pay a fee.

You will earn interest on a CD, and unlike a savings or money market account, this rate will not change as long as the account is open. If you open a five year CD at 0.50% APY, you will still earn 0.50% over four years and 11 months.

It is possible to find a bank that requires low minimum deposits on CDs, if any. But for the most part, minimum deposits are relatively high, typically thousands of dollars. You also can’t add more money to your CD later on, like you can with a savings or money market account. You place your opening deposit in the account and let it sit until the end of the term.

You can earn a higher rate on a CD than on a savings or money market account, especially for longer terms. You will likely get a better rate if you go with an online bank, like Synchrony or Marcus from Goldman Sachs, than with a large physical bank.

How to choose the right account

First ask yourself how long do you think you will need this money. Could it be any day now, or at the drop of a hat like with an emergency fund? If so, you probably want a savings account or a money market account. If you are saving for a longer term goal, you may prefer a CD.

Then think about if you want a debit card and paper checks to access your money. If you like the idea, you might want a money market account. If you think you’ll be tempted to spend, a savings account may be best.

Finally, look for an account that does not charge a monthly service fee or allows you to easily waive it. You don’t have to pay a bank just to store your money.

Keep in mind that you don’t necessarily have to choose just one of these accounts. You can open two or even all three, if that makes sense for your savings goals.


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FNB Launches New Shares Zero Investment Account With No Monthly Account Fees http://www.usaprimeloans.com/fnb-launches-new-shares-zero-investment-account-with-no-monthly-account-fees/ Thu, 26 Aug 2021 11:48:45 +0000 http://www.usaprimeloans.com/fnb-launches-new-shares-zero-investment-account-with-no-monthly-account-fees/

Through Vernon Pillay August 26, 2021

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One of the interesting effects of the Covid-19 pandemic and national containment is the growing interest in investing in local and international equity markets. That’s according to FNB, which announced the launch of a new FNB Shares Zero investment account with no monthly account fees.

Raj Makanjee, chief executive of FNB Retail, says the growing interest in investing is evident across all income segments of the bank. “Despite the financial challenges of Covid-19, we have seen a year-over-year increase in the number of clients opening new investment accounts with us, with an increase of approximately 41% in business values ​​of actions. The launch of our Shares Zero ETF investment account further accelerates our efforts to expand our range of investment solutions and minimize the cost to clients of managing their money for both short and long term goals, ”he said. he declares.

Sizwe Nxedlana, Managing Director of FNB Wealth and Investments and Ashburton, said that “FNB Shares Zero came at the right time for South Africans, many of whom wanted to invest in global stock markets but were excluded by high brokerage fees. . and financial constraints. We urge clients to take advantage of the new solution to begin their ownership journey. It’s another way to help our clients unlock their wealth creation journey, by investing in stocks. “

Shares Zero ETF account holders will not pay any monthly account fees and brokerage fees when purchasing FNB or Ashburton exchange traded products. FNB also offers valuable training to guide new investors through their investment journey with ongoing access to real-time trading tips, market insights and sharing, as well as insight and advice. expert advice.

Nxedlana says Shares Zero ETF aligns with its recognition that investing in stocks can and should be a valuable part of any effective money management strategy. “Given the important role that investing plays in building a financially secure future, we have worked hard over the years to educate clients on the benefits and value of investing in stocks, while also making this investment easily accessible to as many South Africans as possible, “Nxedlana explains,” and the launch of Shares Zero is, in many ways, the pinnacle of these efforts, as it allows almost anyone to get started or to start. extend your personal investment journey. “

FNB Shares Zero is the perfect complement to ETN’s exchange-traded notes (ETNs) which were very well received by investors when the bank launched them in 2020. These innovative global investment vehicles allow South Africans to invest effectively in many of the biggest and best performing companies in the world, including Microsoft, Netflix, Apple, Tesla, Coca Cola and many more. A Shares Zero account also allows you to invest for free in the diverse range of Ashburton Exchange Traded Funds (ETFs), including the popular Ashburton Global 1200 ETF which tracks the performance of the world’s 1200 largest companies.

Nxedlana claims that having a Shares Zero ETF account also allows you to invest directly in the companies represented in the JSE ALSI Top 40 Index, which are among the largest and most well-known brands in South Africa. And these Top 40 investments are also made possible at a very low brokerage fee of just 0.25% of the trade value.

“Making your money grow through local and international action can be a reality for anyone,” he said.


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Neobank Freo partners with Equitas SFB to launch 7% interest savings account http://www.usaprimeloans.com/neobank-freo-partners-with-equitas-sfb-to-launch-7-interest-savings-account/ Wed, 25 Aug 2021 04:40:46 +0000 http://www.usaprimeloans.com/neobank-freo-partners-with-equitas-sfb-to-launch-7-interest-savings-account/

NEW DELHI : Freo, India’s first credit neobank, has partnered with Equitas Small Finance Bank to launch a zero-balance savings account that will offer an interest rate of 7% on a minimum balance of ??1 lakh.

According to the neobank, the new product, Freo Save, will enable customers to make informed financial decisions and strengthen their credit profile in the process.

Along with features like zero balance and 7% interest rate, the savings account will allow seamless integration with UPI to facilitate fund transfers and bill payments.

Commenting on the launch, Anuj Kacker, co-founder of Freo, said, “People have the power to analyze their spending habits and take small steps that can help them build and strengthen their credit score with just some help. All of our features are designed to achieve this goal and give users the freedom to spend without fear and give them the added convenience of meeting all their aspirations. “

To gain access to credit, users must now maintain a good credit rating, which is a metric that reflects their financial credibility and likelihood of default. The only way to build a credit history is to get a credit card or a loan. These have very different eligibility criteria and not everyone qualifies for these options.

According to the company, Freo Save was designed to help individuals achieve better credit scores.

According to Vaibhav Joshi, Chief Digital Officer, Equitas Small Finance Bank, the partnership with Freo will help elevate the future of financial services by reaching out to and empowering young people, families and business people across India. discover a new way to access banking through application-based banking solutions.

So far, as part of its MoneyTap service, Freo has disbursed loans of over ??4,400 crore to its users. MoneyTap offers a line of credit of up to ??5 lakh. Its services include Freo Pay, which offers a buy-now and pay-after function.

To make banking operations more convenient and meaningful, financial technology (fintech) startups are launching neobanks. These players are partnering with traditional banks and delivering better solutions using technologies such as artificial intelligence (AI) and machine learning (ML).

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The benefits of a MESP university savings account for children http://www.usaprimeloans.com/the-benefits-of-a-mesp-university-savings-account-for-children/ Tue, 17 Aug 2021 18:45:03 +0000 http://www.usaprimeloans.com/the-benefits-of-a-mesp-university-savings-account-for-children/

College expenses cause stress. It’s a simple truth for parents, whether your child is newborn or about to graduate. Another truth? Opening an education savings account for your child is a smart way to keep these future costs under control, no matter where you are in your parenting journey.

The Michigan Education Savings Program, or MESP, is designed to help you do just that.

This Michigan 529 University Savings Plan offers both flexibility and stability in the face of these tumultuous costs, including tuition, room and board, books and more.

“The cost of college education is a major concern for most families with good reason,” notes the MESP on its website. “It is increasing at a faster rate than inflation. The unforeseen financial challenges brought on by a global pandemic did not help matters.

But the good news is that MESP can provide a solid foundation. The sooner you start, the more money you will have to help pay for your child’s college dreams.

Here’s a closer look at this plan, how it works, and how you can start one for your child today.

What is a 529 plan?

In short, a 529 plan is a tax-advantaged savings plan designed to help save for qualifying graduate costs. The “529” refers to Section 529 of the Internal Revenue Code.

The MESP is similar to a 401 (k) or Roth IRA in that you take after-tax contributions and invest for your loved one’s future. MESP offers 18 different investment options to suit everyone’s investment strategy. These grow, tax-deferred, over time (note that funds fluctuate with the economy).

When you finally withdraw the funds for higher education expenses, you are not taxed. Your MESP funds can be used for schools in the state or out of state. And, more specifically, you can use them to cover tuition, room and board, and additional college fees.

Keep in mind that you cannot deduct your contributions from federal income tax.

How much to contribute

“It only takes $ 25 to open an account and that’s the minimum amount you can contribute. You can contribute as often or as infrequently as you like, weekly, monthly, once a year at bonus time, ”says Jennifer Burke, Senior Director of Marketing for MESP. “The commitment to save can fit any budget. “

Anyone can participate – family members, friends, both in-state and out-of-state – and for any occasion, whether it’s a birthday, a birthday party, or a birthday party. diploma, vacation or just because.

There is also no limit to the amount you can invest each year, but the maximum balance per account is $ 500,000.

You can also set up direct payroll deposit through your employer with a minimum of $ 15 per pay period. It’s a smart way to set recurring contributions as a fixed expense, so you don’t even have to think about it.

Opening an account

Getting started is in a few simple steps – just 15 minutes on average. Start by visiting the “Open a 529 Account Now” page on MISaves.com. You can also print your registration forms from the site, fill them out and mail them.

Be sure to read the Enrollment Kit book for a quick overview of how MESP works.

To set up your account, prepare a few things to speed up form filling. According to the MESP, these are the following:

  • Information about you (address, date of birth, social security number)
  • Information about your beneficiary (date of birth, social security number)
  • Bank information (account number, routing number)

Note that the first The social security number that you will enter on the form is that of the account holder (parents, grandparents, etc.) and the second is the beneficiary (your child, niece, etc.).

There are no subscription, start-up or maintenance fees to open your MESP account.

Flexibility is the key

Funds in your MESP account can ultimately be used for any eligible institution in the United States, as well as overseas. This includes public and private colleges and universities, trade schools, graduate schools and vocational schools, notes the MESP.

What if your child decides not to go to college or if some of the funds are not used? You can optionally transfer them to the plan of another eligible family member. Keep in mind that ineligible withdrawals are subject to federal and state taxes, as well as a potential 10% federal income penalty.

And, while starting earlier is ideal, investing later in the game is far from the deciding factor.

“Even if you start saving when your child is in middle or high school, putting money aside can help reduce their need to borrow,” notes MESP.

To learn more about MESP, visit MISaves.com or call 877-861-MESP from 8 a.m. to 8 p.m. Monday through Friday.


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How to calculate simple and compound interest http://www.usaprimeloans.com/how-to-calculate-simple-and-compound-interest/ Thu, 12 Aug 2021 07:00:00 +0000 http://www.usaprimeloans.com/how-to-calculate-simple-and-compound-interest/

Mathematics is an integral part of programming. If you cannot solve simple problems in this area, you will have a much harder time than you need to.

Fortunately, learning how to do it is not too difficult. In this article, you will learn how to calculate simple and compound interest using Python, C ++, and JavaScript.

How do you calculate simple interest?

Simple interest is a method of calculating the amount of interest charged on a principal amount at a given rate and for a given period of time. You can calculate simple interest using the following formula:

Simple Interest = (P x R x T)/100 
Where,
P = Principle Amount
R = Rate
T = Time

The problem statement

we give you principal amount, interest rate, and time. You need to calculate and print the simple interest for the given values. Example: Either principle = 1000, rate = 7 and timePeriod = 2. Simple interest = (principle * rate * timePeriod) / 100 = (1000 * 7 * 2) / 100 = 140. Thus, the output is 140.

The C ++ program to calculate simple interest

Here is the C ++ program to calculate simple interest:

// C++ program to calculate simple interest
// for given principle amount, time, and rate of interest.
#include <bits/stdc++.h>
using namespace std;
// Function to calculate simple interest
float calculateSimpleInterest(float principle, float rate, float timePeriod)
{
return (principle * rate * timePeriod) / 100;
}

int main()
{
float principle1 = 1000;
float rate1 = 7;
float timePeriod1 = 2;
cout << "Test case: 1" << endl;
cout << "Principle amount: " << principle1 << endl;
cout << "Rate of interest: " << rate1 << endl;
cout << "Time period: " << timePeriod1 << endl;
cout << "Simple Interest: " << calculateSimpleInterest(principle1, rate1, timePeriod1) << endl;
float principle2 = 5000;
float rate2 = 5;
float timePeriod2 = 1;
cout << "Test case: 2" << endl;
cout << "Principle amount: " << principle2 << endl;
cout << "Rate of interest: " << rate2 << endl;
cout << "Time period: " << timePeriod2 << endl;
cout << "Simple Interest: " << calculateSimpleInterest(principle2, rate2, timePeriod2) << endl;
float principle3 = 5800;
float rate3 = 4;
float timePeriod3 = 6;
cout << "Test case: 3" << endl;
cout << "Principle amount: " << principle3 << endl;
cout << "Rate of interest: " << rate3 << endl;
cout << "Time period: " << timePeriod3 << endl;
cout << "Simple Interest: " << calculateSimpleInterest(principle3, rate3, timePeriod3) << endl;
return 0;
}

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Simple Interest: 140
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Simple Interest: 250
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Simple Interest: 1392

Related: How to Find All the Factors of a Natural Number in C ++, Python, and JavaScript

The Python program to calculate simple interest

Below is the Python program to calculate simple interest:

# Python program to calculate simple interest
# for given principle amount, time, and rate of interest.
# Function to calculate simple interest
def calculateSimpleInterest(principle, rate, timePeriod):
return (principle * rate * timePeriod) / 100

principle1 = 1000
rate1 = 7
timePeriod1 = 2
print("Test case: 1")
print("Principle amount:", principle1)
print("Rate of interest:", rate1)
print("Time period:", timePeriod1)
print("Simple Interest:", calculateSimpleInterest(principle1, rate1, timePeriod1))
principle2 = 5000
rate2 = 5
timePeriod2 = 1
print("Test case: 2")
print("Principle amount:", principle2)
print("Rate of interest:", rate2)
print("Time period:", timePeriod2)
print("Simple Interest:", calculateSimpleInterest(principle2, rate2, timePeriod2))
principle3 = 5800
rate3 = 4
timePeriod3 = 6
print("Test case: 3")
print("Principle amount:", principle3)
print("Rate of interest:", rate3)
print("Time period:", timePeriod3)
print("Simple Interest:", calculateSimpleInterest(principle3, rate3, timePeriod3))

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Simple Interest: 140.0
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Simple Interest: 250.0
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Simple Interest: 1392.0

Related: How To Complete The FizzBuzz Challenge In Different Programming Languages

The JavaScript program to calculate simple interest

Below is the JavaScript program to calculate simple interest:

// JavaScript program to calculate simple interest
// for given principle amount, time, and rate of interest.
// Function to calculate simple interest
function calculateSimpleInterest(principle, rate, timePeriod) {
return (principle * rate * timePeriod) / 100;
}
var principle1 = 1000;
var rate1 = 7;
var timePeriod1 = 2;
document.write("Test case: 1" + "<br>");
document.write("Principle amount: " + principle1 + "<br>");
document.write("Rate of interest: " + rate1 + "<br>");
document.write("Time period: " + timePeriod1 + "<br>");
document.write("Simple Interest: " + calculateSimpleInterest(principle1, rate1, timePeriod1) + "<br>");
var principle2 = 5000;
var rate2 = 5;
var timePeriod2 = 1;
document.write("Test case: 2" + "<br>");
document.write("Principle amount: " + principle2 + "<br>");
document.write("Rate of interest: " + rate2 + "<br>");
document.write("Time period: " + timePeriod2 + "<br>");
document.write("Simple Interest: " + calculateSimpleInterest(principle2, rate2, timePeriod2) + "<br>");
var principle3 = 5800;
var rate3 = 4;
var timePeriod3 = 6;
document.write("Test case: 3" + "<br>");
document.write("Principle amount: " + principle3 + "<br>");
document.write("Rate of interest: " + rate3 + "<br>");
document.write("Time period: " + timePeriod3 + "<br>");
document.write("Simple Interest: " + calculateSimpleInterest(principle3, rate3, timePeriod3) + "<br>");

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Simple Interest: 140
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Simple Interest: 250
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Simple Interest: 1392

How to calculate compound interest

Compound interest is the addition of interest to the principal amount. In other words, it’s interest over interest. You can calculate compound interest using the following formula:

 Amount= P(1 + R/100)T
Compound Interest = Amount – P
Where,
P = Principle Amount
R = Rate
T = Time

The problem statement

we give you principal amount, interest rate, and time. You need to calculate and print the compound interest for the given values. Example: Either principle = 1000, rate = 7 and timePeriod = 2. Amount = P (1 + R / 100) T = 1144.9 Compound interest = Amount – Principal amount = 1144.9 – 1000 = 144.9 Thus, the output is 144.9.

The C ++ program to calculate compound interest

Below is the C ++ program to calculate compound interest:

// C++ program to calculate compound interest
// for given principle amount, time, and rate of interest.
#include <bits/stdc++.h>
using namespace std;
// Function to calculate compound interest
float calculateCompoundInterest(float principle, float rate, float timePeriod)
{
double amount = principle * (pow((1 + rate / 100), timePeriod));
return amount - principle;
}
int main()
{
float principle1 = 1000;
float rate1 = 7;
float timePeriod1 = 2;
cout << "Test case: 1" << endl;
cout << "Principle amount: " << principle1 << endl;
cout << "Rate of interest: " << rate1 << endl;
cout << "Time period: " << timePeriod1 << endl;
cout << "Compound Interest: " << calculateCompoundInterest(principle1, rate1, timePeriod1) << endl;
float principle2 = 5000;
float rate2 = 5;
float timePeriod2 = 1;
cout << "Test case: 2" << endl;
cout << "Principle amount: " << principle2 << endl;
cout << "Rate of interest: " << rate2 << endl;
cout << "Time period: " << timePeriod2 << endl;
cout << "Compound Interest: " << calculateCompoundInterest(principle2, rate2, timePeriod2) << endl;
float principle3 = 5800;
float rate3 = 4;
float timePeriod3 = 6;
cout << "Test case: 3" << endl;
cout << "Principle amount: " << principle3 << endl;
cout << "Rate of interest: " << rate3 << endl;
cout << "Time period: " << timePeriod3 << endl;
cout << "Compound Interest: " << calculateCompoundInterest(principle3, rate3, timePeriod3) << endl;
return 0;
}

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Compound Interest: 144.9
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Compound Interest: 250
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Compound Interest: 1538.85

Related: How to Invert an Array in C ++, Python, and JavaScript

The Python program to calculate compound interest

Below is the Python program to calculate compound interest:

# Python program to calculate compound interest
# for given principle amount, time, and rate of interest.
# Function to calculate compound interest
def calculateCompoundInterest(principle, rate, timePeriod):
amount = principle * (pow((1 + rate / 100), timePeriod))
return amount - principle
principle1 = 1000
rate1 = 7
timePeriod1 = 2
print("Test case: 1")
print("Principle amount:", principle1)
print("Rate of interest:", rate1)
print("Time period:", timePeriod1)
print("Compound Interest:", calculateCompoundInterest(principle1, rate1, timePeriod1))
principle2 = 5000
rate2 = 5
timePeriod2 = 1
print("Test case: 2")
print("Principle amount:", principle2)
print("Rate of interest:", rate2)
print("Time period:", timePeriod2)
print("Compound Interest:", calculateCompoundInterest(principle2, rate2, timePeriod2))
principle3 = 5800
rate3 = 4
timePeriod3 = 6
print("Test case: 3")
print("Principle amount:", principle3)
print("Rate of interest:", rate3)
print("Time period:", timePeriod3)
print("Compound Interest:", calculateCompoundInterest(principle3, rate3, timePeriod3))

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Compound Interest: 144.9000000000001
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Compound Interest: 250.0
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Compound Interest: 1538.8503072768026

Related: How To Find The Sum Of All The Elements In An Array

The JavaScript program to calculate compound interest

Below is the JavaScript program to calculate compound interest:

// JavaScript program to calculate compound interest
// for given principle amount, time, and rate of interest.

// Function to calculate compound interest
function calculateCompoundInterest(principle, rate, timePeriod) {
var amount = principle * (Math.pow((1 + rate / 100), timePeriod));
return amount - principle;
}
var principle1 = 1000;
var rate1 = 7;
var timePeriod1 = 2;
document.write("Test case: 1" + "<br>");
document.write("Principle amount: " + principle1 + "<br>");
document.write("Rate of interest: " + rate1 + "<br>");
document.write("Time period: " + timePeriod1 + "<br>");
document.write("Compound Interest: " + calculateCompoundInterest(principle1, rate1, timePeriod1) + "<br>");
var principle2 = 5000;
var rate2 = 5;
var timePeriod2 = 1;
document.write("Test case: 2" + "<br>");
document.write("Principle amount: " + principle2 + "<br>");
document.write("Rate of interest: " + rate2 + "<br>");
document.write("Time period: " + timePeriod2 + "<br>");
document.write("Compound Interest: " + calculateCompoundInterest(principle2, rate2, timePeriod2) + "<br>");
var principle3 = 5800;
var rate3 = 4;
var timePeriod3 = 6;
document.write("Test case: 3" + "<br>");
document.write("Principle amount: " + principle3 + "<br>");
document.write("Rate of interest: " + rate3 + "<br>");
document.write("Time period: " + timePeriod3 + "<br>");
document.write("Compound Interest: " + calculateCompoundInterest(principle3, rate3, timePeriod3) + "<br>");

Go out:

Test case: 1
Principle amount: 1000
Rate of interest: 7
Time period: 2
Compound Interest: 144.9000000000001
Test case: 2
Principle amount: 5000
Rate of interest: 5
Time period: 1
Compound Interest: 250
Test case: 3
Principle amount: 5800
Rate of interest: 4
Time period: 6
Compound Interest: 1538.8503072768008

Learn to code for free: start with simple and compound interest

These days, the impact of coding is increasing exponentially. And at the same time, the demand for skilled coders is also increasing exponentially. There is a misconception among people that they can only learn to code after paying high fees. But this is not true. You can learn to code absolutely free from platforms like freeCodeCamp, Khan Academy, YouTube, etc. So even if you don’t have a big budget, you don’t have to worry about missing something.


Code editor on a laptop
The 7 best ways to learn to code for free

You can’t learn to code for free. Unless you use these proven resources, of course.

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What’s the best way to borrow money to expand my house? http://www.usaprimeloans.com/whats-the-best-way-to-borrow-money-to-expand-my-house/ Tue, 10 Aug 2021 07:00:00 +0000 http://www.usaprimeloans.com/whats-the-best-way-to-borrow-money-to-expand-my-house/

Dear Gareth,

I just bought a property with a 10% down payment. I want to add an extension to increase the space and value of the property. How could I go about taking this out of the equity I have in the property? Can I borrow 5% more? Or do I have to wait until I own more of the asset before borrowing against it?

Name and address provided

Gareth says …

It’s common for people to use the money they’ve accumulated on their property to pay for renovations, but that’s not the only solution. Remember, a mortgage is decades of debt, so any additional borrowing you take out stays with you for the life of your loan. What may seem like the obvious place to fund your project, could end up being the most expensive.

“Some elements to take into account”

Let’s take a closer look at what you have to offer. Since you have just purchased the property, what you are looking to do is increase your mortgage. Doing this with your existing lender is often called an “additional advance”. This allows you to borrow more money from your current lender over the life of your mortgage contract.

The rate will depend on what your lender is offering – sometimes it can be the same as your existing mortgage rate, but you might have to pay a higher rate, making it more expensive than your existing mortgage. .

The advantages here are that you don’t have to switch providers to get a loan, you can spread your repayments over a very long period of time, and even if the interest rate is higher than your mortgage, it is likely to fall. ‘be cheaper than what you would pay on an unsecured loan.

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Does using PayPal to pay online affect my section 75 rights?

There are a few things to consider – the most important being whether your lender would actually give you an advance.

Lending to people with a 10% deposit is riskier for mortgage lenders, but borrowing an additional 5% of the value of your property would push it to the maximum that a bank or mortgage company is willing to lend.

She may not be willing to take that extra risk – some banks will only consider a new advance if you own at least 20% of the equity in your property. Some lenders offer a separate loan alongside your mortgage. It is worth understanding its terms before applying.

You will also need to consider affordability – will you be able to afford the increased monthly mortgage payments? And by tying the loan to your property, defaulting on repayment if you are having trouble could result in repossession of your home.

Since you have just purchased your property, re-mortgage with another lender before your term expires would incur prepayment charges which would make the cost of borrowing higher.

Prepayment charges are usually around 2% of the value of your loan, forcing you to find thousands of pounds just to borrow more.

I think your suggestion to wait until you have accumulated more equity is the most sensible course. When your current mortgage contract expires, you can remortgage to free up cash on your property.

If your property has gone up in value, the combination of that and any return of capital you made during the transaction will hopefully give you a lower LTV – say 15 or 20 percent.

Then you can remortgage up to 90% of the LTV, 85% covering your existing loan and an additional 5% to finance your renovations. I would suggest seeking independent mortgage advice to find a bank willing to lend you on these terms.

There is a risk here. Interest rates are at their lowest. There is no guarantee that the rates will be this low in two years – and you could end up with higher monthly repayments.

To put yourself in the best possible position for this, consider overpaying your mortgage. This will allow you to acquire more equity in the property, so that when you come to remortgage, you can do so at a much more attractive loan in relation to the value.

Who? posted a calculator – visit which.co.uk/overpayment


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