Our businesses are like football team, each player needs to contribute towards that winning goal.
One of the key driver for any business is finance, a right lending partner could help you never miss opportunities.
Choose Bokdia Finance as the right lending / funding partner which has more than 40+ years of experience in this field.
What is Gold Bond:
Sovereign Gold Bonds (SGB) are government securities denominated in grams of gold. The bonds are issued by Reserve Bank of India on behalf of Government of India and it substitutes holding of physical gold. SGBs carry sovereign guarantee and are classified as government securities.
Last week a manufacturer of recycled plastic granules approached Bokdia Finance for a working capital loan. During the course of our 1-2-1 meeting, we discovered that she held Government issued Sovereign Gold Bonds.
We directed her to approach the issuing bank to avail gold loan by pledging the Bond. The issuing bank recieved first such loan request (after the Government came out with SGB schemes) and due to some technical difficulties it could not process the loan.
The promoter asked us if we could help her in providing Business Loan against the SGB. We processed her application in less than One business day and disbursed working capital term loan which is payable in easy monthly installments through her bank account.
The manufacturer was impressed with the fact that Bokdia Finance had an option to foreclose / pre-close the loan at any given point of time. This suited well for her business as it had multiple bills receivable.
Bokdia Finance & Estate arguably became the first Private Financier / lender in Chennai to provide business loan against Sovereign Gold Bonds.
Call us at 9150132003 or visit or website http://www.BokdiaFin.in
Now let us understand what is the difference between a good loan and a bad loan.
Good debt or loan is a type of loan which creates assets over time and the product will not decrease with time such as education loan, home loan etc.
It is considered as good debt as the loan availed will serve the purpose of completing the education and become financially independent.
b) Home Loan
Home loan is a good debt under every circumstance. Not only does the asset value increase with time, one can avail tax benefits on the principal home loanamount as well as on the interest paid.
Availing loan for the second house is also a good debt as this investment is mainly to be given out on rent and can avail tax on the interest paid under deductions.
However, if you own two houses, one would be deemed to have given on rent, whether you rent it or not. So, income from rental will accrue on one of the houses for sure.
Business loans help individuals borrow money to expand their business, hire extra people, for a new product etc, which in turn help to grow business.
Bad loans or bad debts are those which is availed to serve only for a luxury purpose such as buying luxury items from credit cards, availing loan for a foreign trip, auto loan.
a) Credit cards
Credit card debt is usually considered as bad debt as the interest charged on them are very high. Bad credit debt can destroy your financial health. Instead, one can save regularly and buy at one go.
There are individuals who avail loan to make payment for their credit card bill.
Interest rates on personal loan are supposed to be high. One can consider only when it is absolutely necessary. Availing loan for an international trip can serve as bad debt as for a vacation of one week, they can end up paying EMI for 2-3 years which does not sound like a good idea.
c) Auto loans
Auto loans can be good or bad falling and is generally considered a grey are. Good or bad depends on the purpose of buying the vehicle and repayment capacity.
We at Bokdia Finance with more the 40 years of experience provide only good loans as a matter of policy and focus sharply on Business Loan for the growth of your business. Call 9150132003 or visit http://www.BokdiaFin.in for more details