Monthly Archives: June 2018

Things to consider before buying a bike

All that you need to know before buying a Bike

Bikes are a relief especially when you are hustling to reach somewhere, cutting through excessive traffic on Indian roads. Not only can you curb your costs while commuting in public transport, but also find quicker solutions to being ‘stuck in traffic’. However, there comes a lot of responsibility when you bring your dream bike home. Riding necessitates sharp riding skills, blended with a sense of control, quick reflexes and ability to handle dangerous circumstances. With the two-wheeler bandwagon flooding Indian markets, it becomes extremely crucial for you to understand what type of bike shall serve your purpose, what are its key features and what are the bike finance options available in the market today. In this comprehensive guide, we shall help you choose a bike that is the best-suited for you.

Standard Bikes, Mopeds and Scooters

If you are looking for a bike that would help you run your daily errands, standard bikes and scooters are what you should go for. These bikes are stacked with features that help you ride comfortably. For instance, an upright seating structure, moderate engine sizes, user-friendly and functional design, and proper placement of handle bars and foot pegs. Standard bikes, mopeds and scooters are an ideal choice especially for beginners, and generally do not pose a threat while you’re still in a learning process.

Key Features

Let us now look at some of the primary features of these standard bikes, mopeds and scooters that you must take into consideration before purchasing your set of wheels.

Engine Size – Engines are measured in cubic centimeters. It is the volume inside the engine where air and fuel is combined to power a bike. It is advisable to go for a bike with higher number of CCs because it has a bigger engine with more power and faster speeds.

Mileage – Good mileage is economical, and one of the highest priority of a regular bike-rider. On an average, standard bikes provide 35kmpl to 40kmpl mileage.

Height of Seat – Your feet must touch the ground while you stop riding the bike. If that doesn’t happen, the height is too tall for you.

Weight of Bike – Make sure the bike’s weight does not become too heavy for you. The heavier it is, the more uncomfortable it becomes for you to ride it.

New vs. Used – If you think buying a used bike could save you some money; always remember that you might have to spend lump sums in its repair and other additional maintenance. If you can afford a new bike, you must always go for a new one. Bike loans have become readily available these days. However, it is advisable to study the available options in the money lending sector, so as to make the right decision before opting for a two-wheeler loan.

Other important things to remember before purchasing your Bike

Research – Do your own research to understand the different process offered by dealers in the market. You must not accept anything at face value, and always ask for a proper price breakup which includes RTO expenses, insurance, etc.

Insurance – Indian roads have witnessed some of the deadliest accidents. To make sure, you have a safe ride while commuting, buying insurance is a must! Insurance can save you and your property from unforeseen circumstances while riding. It helps you evade the financial impacts of damage caused to the third parties.

Proper Documentation – If you are a responsible rider, you must always have all the proper documents in place. Get a two-wheeler driving license mandatorily. Carry the other important documents such as RC, PUC and Insurance certificate while you are riding your bike.

Proper Safety Gear – Get a set of riding gear for yourself – a helmet for sure, and a jacket and a pair of gloves if necessary.

Learning road rules – It is very important to learn the rules of road, hand signals and their importance while riding a two-wheeler. You must always comply with the traffic rules.

Financing your Bike

Now, if you are willing to buy a new bike, and do not have sufficient finances for it, let us tell you that achieving that dream is still possible.

Tab Capital Limited offers you easy and affordable two-wheeler loans that are extremely convenient and customer-friendly. Bike loans disbursed by Tab Capital are super fast and grants up to 100% of the on-road price. The entire process done completely online, with facilities like minimum documentation, on-spot transaction, zero prepayment charges and no hidden costs, ensures that you walk out of the showroom with your dream bike in just 10 minutes! So, now that you are well adept with the bike-buying fundamentals, you may as well click here and apply for a bike loan without further ado!

Two Wheeler loan Rejected

Know Why Your Two Wheeler Loan May Get Rejected

You have applied for a two-wheeler loan at a financial institution recently, but unfortunately, your loan has been rejected! Unexpected events as these come up quite often while dealing with monetary matters. So, you must get to the root of the issue, and understand the reason of your loan rejection. Applying somewhere else hurriedly could also be a wrong decision. Since, you got a chance to rectify your errors and apply for a loan application afresh; you should check and update your credit record thoroughly before approaching another lender. Financial institutions provide you with loans based on certain relevant facets, such as your age, income, job stability, and credit worthiness to repay the loan amount. In case there is a discrepancy noted in either of these significant areas, there are high possibilities of your loan to get rejected. Let us look at some of the primary reasons which can affect your CIBIL record, and maybe the reason why your two wheeler loan was rejected.

Main reasons why your two-wheeler loan is not approved:

  • Your residential address has made it to the defaulter list

Most banks and lenders maintain a database of defaulter list, which keeps a detailed record of the defaulters’ addresses. It might be the case that someone living in the same address before you has missed a loan repayment, and has therefore been reported to CIBIL. The reason of your loan rejection in this case might be an overlap of the same residential address.

  • Bad Credit Record

You have slipped up on a lot of credit card dues, and have hence accumulated a lot of pending loan payment. This makes your credit history blacklisted. Most financial institutions consider poor credit records as the most legit reason to reject a loan in a jiffy!

  • Burden of too many loans

Sometimes, too many loans cause a severe stress on your daily income. In such a scenario, your real income is considered as the amount that remains after subtracting your ongoing credit repayments from your total income. This could indicate your disability to repay the new loan amount, thereby leading to a loan rejection.

  • You do not have a great luck being a Loan guarantor

As a loan guarantor, you are held responsible when the applicant who you have vouched for does not pay up a loan amount.  In situations like these, you are compelled to repay the loan on their behalf. If you are unable to do so, the bitter repercussions reflect in your credit report.

  • Your co-applicant has a bad credit history

Sometimes, you end up being in a fix due to someone else’s mess. Such is the scenario in the money-lending business as well.  You may have been eligible to borrow money as per the norms, but, if your co-applicant has a bad credit history, it is quite likely for your loan to be rejected as well.

  • You are a compulsive job-switcher

If you do not have job stability, you are not guaranteeing your true worth of repaying a loan to the money lender. Most banks and NBFCs would only entrust people, who have stable jobs, with a lump sum amount of money.

  • Your loan application has been rejected before

Make sure you have rectified your previous mistakes before applying for a two-wheeler loan again! Repeating the same mistakes would lead to the same disappointment every time.

Having said that, let us now walk you through these important pointers which can help you plan your steps before applying for a two-wheeler loan:

  • Calculate your net worth, and loan repayment ability.
  • Get a credit report from CIBIL, and go through it thoroughly.
  • In case there are any defaulters indicated in your CIBIL record, update the information by submitting a proof to CIBIL.
  • Keep backup funds in case any unexpected situation comes up.
  • Make the maximum down payment so that you can repay the EMIs without a financial pressure.

TAB Capital, one of the fastest and most reliable online money lenders, provides customer-friendly two wheeler loans to salaried and self-employed persons, at an attractive rate of interest. You can now borrow a two-wheeler loan, which is maximum of the on-road price and choose to repay the amount conveniently within a range of 5 years.  To know more about the eligibility criterion and other benefits associated with TAB Capital’s two-wheeler loan, Click here.

Online Business Loans, unsecured business loans

Here’s Why An Online Business Loan Is A Better Choice For You!

A business needs financing to invest in its growth. Choosing the right Business Loan is very important especially for MSMEs, because it helps an entrepreneur expand his business model by extracting the loan’s optimum benefits. Since the world is turning toward digital lending now, the traditional money lending system, hitherto the most dependable, is eventually taking a backseat now. There are a myriad of online tools available that can help you assess the various kinds of loan products available, based on which you can make an informed decision regarding a new unsecured business loan.  Growing your business exponentially becomes easier when you have the scope of focusing solely on your business plans, rather than wasting a laborious amount of time standing in queues and waiting for your loan request to get approved!

Let us look at some of the most important reasons which attest the importance of digital lending and online business loans in millennial times.

  • More Options Available – While the stringency of traditional lending restricts you to opt for local banks or NBFCs only, an online marketplace gives you a plethora of choices when it comes to choosing a money lender who suits your need the best! You can browse through a digital lender’s loan products; compare repayment schemes and interest rates; and conduct an extensive research on all the available options before taking a call!
  • Easy Application Process – Applying for an online business loan eradicates the need for running to the bank and going through a tedious loan approval process. With a simple on-click solution, an online business loan can be applied for from the comfort of your own home, office or study! Online lenders are available 24/7. So don’t be surprised if you are done with the entire application process in less than 2 minutes!
  • Faster Verification –Developments in the digital space like Aadhar based authentications, digital records of property, facilities of e-signatures and e-banking, has opened up newer avenues in the digital-money-lending scenario. Once you upload the required set of documents to the online lender’s portal, your request is processed through a data and algorithms based activity. There is no scope of delay as there are no hassles of printing and dispensing.
  • No collaterals needed – Most online lenders are open to providing their customers with unsecured credit loans, whereas banks have an aversion to sanction loans without collaterals. They typically insist on disbursing figures worth of machinery, equipment or real estate, so as to anchor the loan. More often, they only provide loans to businesses that earn comparatively higher annual revenues and have good credit scores. Online loans do not bring you such hassles, as you get maximum loan amounts even when there is no collateral or security involved in the process.
  • Quick Disbursal – Since most online lenders automate the entire loan disbursal process through high-end financial technology, getting a loan through to the customer is possible just within 48 hours! A combination of advanced algorithms and flexible approval processes makes the otherwise time-consuming methodology of money lending, extremely quick and customer-centric.

Going by the above-stated reasons, it is but obvious that digital lending has outweighed the backlogs of traditional money-lending, thereby making things simpler for SMEs and MSMEs.

TAB Capital provides unsecured business loans to businesses, which are in need of a financial boost at the earliest! With higher loan eligibility, minimum documentation and loan disbursals within just 2 working days, TAB Capital thrives to provide an optimum finance solution in the digital lending domain. Apply for your online business loan on TAB Capital here!

 

POS Machine Benifits

Top 5 Reasons to use POS Machine in Retailer Shops

Running a retail business is not an easy feat. The enumerable challenges that come your way while handling a business are quite cumbersome. From managing inventory to tracking analytics and sales, a business that does not operate through the internet, is often prone to greater risks in terms of business monitoring and customer satisfaction. No matter how big a business is, adopting a retail POS system can streamline the entire business process, thereby giving way to a healthy amalgamation between manpower and automation. Gone are the days when you do all the billing manually and provide your customers with printed bills. In the present era of digitization, people are turning towards cashless digital transactions; and to make sure that your customer base does not get affected due to a lack of credit/debit card purchases, you must get a Point-of-Sale-System right away! Furthermore, if anytime soon you are gearing for a business scale-up, a POS Machine can also help you avail the various benefits of a Merchant Cash Advance or Loan against POS Machine Transactions.

Here is a list of the top 5 reasons that testify the importance of POS Machines in small trader shops.

  • Quick, unerring billing system– Nowadays, handheld billing systems like tablets and smartphones are in vogue. Accessing the POS system through a small icon that sits in your smartphone is also possible today. This is the ideal method to bill customers without any errors, especially for small-scale businesses. For instance, if you have a website and your POS system is integrated with the same, you shall get notified whenever a customer makes an online purchase. The same mechanism can be implemented if you set up a pop-up store in the local market. Smart credit card readers can leverage your sales through debit and credit card purchases made by customers. Since POS systems give error-free results and support all modes of payment, i.e., cash, cheques, etc., your customers shall be well-served and you would automatically increase your customer base rapidly.
  • Proper Inventory management– A small-scale trader needs to stay updated on how much inventory he has, how much has moved out of the store, and how much more does he need. A traditional stock management technique mandates the trader to go through the tedious process of validating stocks on a regular basis. Often, executing a manual counting and paperwork brings in loopholes. The trader has to go through a laborious process when numbers do not match. POS system simplifies this process, and automates the entire work for you. All that you need to do is scan the barcode, enter the count, and specify the price of the product. The POS system keeps a track of your entire inventory, notifies you when you are running low on stock, helps you create purchase orders and keeps a daily count of the on-hand inventory.
  • No fear of theft– Small trade shops are mostly vulnerable to customer and employee thefts. Monitoring inventory can get easier with the installation of a POS system in your store. It gives you a stronger control on your items, and helps you protect your store against shoplifters.
  • Provide affordable offers– It is very important for a retailer to know which of his products are only consuming shelf space. Estimating the prices of these items can be made easy with the help of a POS system. This cloud based POS Machine can give you an in-depth detail of the items in your stock, and render an insightful analysis, based on which you can come up with attractive deals and offers.
  • Track Customer data– Even though you run a small business, you need to track your customer behaviour, and generate leads for new customers. POS machines can help you collect email IDs, and other relevant customer information, through which you can send them daily newsletters and gift cards. You can also set up a loyalty programme, and keep a record of their favourite product purchases.

Adhering to the above-stated reasons, it is fair to say that implementing a POS system in your business shall not only help you execute your daily tasks smartly, but also keep you equipped for a business expansion in the future. Getting loans against POS Machine transactions is simpler because your credit card sales history backs your competency in repaying the loan in future, and you keep working towards achieving greater sales effortlessly.

Merchant Cash Advance is a unique offering by TAB Capital, which gives small-scale retailers an opportunity to convert future POS card swipes into current cash flows. Apply now to get a loan amount of up to Rs. 1 crore in just 2 days!