The COVID-19 crisis has been a whirlwind resulting in huge blow to the economy. It has been three months since the coronavirus pandemic surfaced in India and with the increasing number of cases from day to day in country; people have to self-quarantine them in their houses for indefinite period of time. Therefore, no doubt this pandemic has brought economic recession and we are looking at job losses and reduced income. Now the question on the wall is how different will be the financial life post COVID-19? There will be major shifts in your daily lives, personal finances, and household budgets as well as in financial markets as most of the people have missed credit card bill payments, loan EMIs and insurance premiums dismantling your savings. We at ShubhBank would like to support you during this difficult time with our “Gold Loan“ as it has minimum eligibility criteria and doesn’t require credit score. Here we will discuss how Gold Loan from ShubhBank would be a savior in COVID-19 economic downturn to process your credit needs.

The potential power of the Gold Loan is becoming a word of mouth nowadays. Some decades back, gold loan was a high cost affair but today this financial product has become more formal and transparent with ore organized banks and NBFCs in the market providing loan at interest rate of 15-25% per annum. The Gold Loan from ShubhBank provides you the required funds by availing your gold jewelry as collateral security. One of the major benefits of the loan is that you can use it for various purposes such as to continue your business operations smoothly after recession, debt consolidation as you were unable to pay the credit card bills or utility bills due to shortage of money while sitting back at home from three months. There are few more fundamentals that drive the demand of gold loan among individual mentioned below:

• It is the easiest way to avail money as the chances of rejection are very low because it has a secured asset in form of your jewelry as collateral. One doesn’t have to show the income proofs, bank statements and income tax returns to “Apply For Gold Loan“.
• The good thing about this financial product is that it can be used for any purpose as it has no restrictions on the usage of loan money leading more and more people to migrate towards this loan.
• The most important question in the borrower’s mind is that how much the asset value can be financed? Here, at ShubhBank, you can grab high loan to value ratio that goes up to 70-80%.
• The gold loan can be repaid in many ways as per customer’s convenience.
• You only require basic identity documents like ID proof and address proof and there is no impact of your credit score on loan’s interest rate.
• If you apply online Gold Loan at ShubhBank, you can have a fair idea about loan money per gram with just few clicks of mouse on our website.

The scenario of gold loan market would upscale at a rapid pace in India after huge financial takeaways by this pandemic outbreak. So go for gold loan to fund your financial needs and emergencies.

Nowadays coronavirus pandemic has pushed whole globe in to lockdowns generating economy crisis and messing household finances. All the world economy has witnessed a standstill and unemployment has risen to unmatched levels. Therefore, your personal finances are also suffering in this crisis. Hence, care must be exercised as smart money management is important for survival. Every individual has to think calmly that will help you to fortify your household finances making you to come out of crisis unharmed. ShubhBank is suggesting you to exercise some pillars of finances and how to manage your money amid “Covid-19 Crisis“ to get autoimmune to the financial crunch.

1. Build emergency funds: You must save something from your monthly income in an emergency fund that can be accessed during critical times such as job loss, medical treatment etc. Never use such savings for lifestyle expenses such as vacations, entertainment or shopping.

2. Liquidate your assets wisely: You should act in an orderly manner and try to liquidate your assets to cover urgent cash needs or to protect your investment from irrecoverable losses. Be careful about the tax implications as well as the costs of liquidation like penalties or exit loads.

3. Top-up your existing insurance policy: Plan to improve your insurance coverage by buying a top-up health insurance policy. It’s an easy way to get additional plus large sized coverage with your existing coverage acting as a deductible.

4. Avoid panic: A clear headed thinking is always needed for your decisions such as liquidation or fresh investment because panic driven action may compound on your ongoing losses. It is always advisable to tolerate the ongoing volatility to earn higher returns later so buy new investments only if they line in with your financial goals.

5. Evaluate your monthly investments: This pandemic has given many valuable financial lessons so no longer align to your goals can be pruned. Always continue making your monthly contributions towards SIPs or any chosen scheme if you have regular income source. Never liquidate your investment if you fall in short with cash.

6. Don’t apply a loan without comparison: Always plan a loan with lowest interest rate and that can be done by comparing the different lenders at online marketplaces. You can “Apply Online Gold Loan“ or LAP at ShubhBank that may carry lower interest rate which in turn charges you less than credit card debt.

7. Use the moratorium if you require: During COVID-19 outbreak, lenders are providing a 3 month moratorium on EMIs. You can use this option if you have cash problem but always be aware of the interest rate that accrue during the deferment. However it may relieve you from stress for short time but if you have a regular income then continue with your repayments as you will gain nothing from the deferment.

8. Keep an eye on your credit card dues: Credit card may charge you higher rate of interest per annum. So never let your dues to build up and keep them repaying to decrease the chances of debt trap.

Among the COVID-19 breakdown, the demand of personal loans has been increased as the cost of living is increasing as well as the ease of availability makes it the best option among all other financial products. It is an unsecured loan and has great potential to meet your financial emergencies and provide you with the funds needed to make significant purchases. There are also some other reasons why people are preferring more Personal Loans nowadays. Let’s have glance at those reasons:

Medical Urgency: There are few costs that protections plans don’t cover related to health related crisis and these can mount quicker than one can imagine. In such cases, many people choose the Personal loan from ShubhBank to meet these costs. With the hiking prices of healthcare facilities, surgeries and major illness cost a lot.

Debt Consolidation: It is one of the most important reasons to secure a personal loan these days. Debt trap are common and everyone at some stage of life get debt trapped. However, personal loans are bit expensive due to high interest rates but they are way cheaper than credit cards which incur interest over 30%. It is also beneficial when you have to pay for more than one or two loans, in that case, you can repay all the pre- existing loans by taking “Personal Loan“.

Improve Credit Score: A low credit rating always panic you as it affects your creditworthiness for future borrowing. Personal Loan is a great financial tool and individuals with poor credit score can take a small amount of this loan and timely repayment of this can boost their credit score but never default on the repayment as it can result in fall of credit score again.

Starting New Business: Getting approved for a business loan to start-up a new venture is a tough task. You have to meet certain criteria and have to submit piles of documents to qualify a business loan. Therefore, going for a personal loan is the best option as there is no restriction on the use of borrowed money.

Marriage Expenses: Our country is known for big fat wedding as people take this event on their financial status. It needs lakhs of money from costumes to catering, nowadays; shortage of money is not a big deal. As things are changing these days and availing a personal loan from ShubhBank is a best solution to that situation.
Purchasing Latest gadgets: Advanced mobile phones, new age home apparatuses and upgraded technology have turned out to be more extravagance than need. All these things make the personal loan a great choice to acquire your dream gadgets.

Today, the number of personal loan borrowers is increasing to greater extent due to certain obligations or may be dreams. But always be careful about borrowing as it is not a fun, you are bound to repay much more along with the interest rate. Always think wisely before borrowing and “Apply For Personal Loan“ at ShubhBank whenever you are in dire need.

A Covid-19 outbreak is deteriorating the whole nation with full force. However, this pandemic has forced majority of workforce to stay at home for an indefinite period of time but an ideal opportunity to earn money while staying quarantined. Nowadays it’s economical and safe to work from home by helping others to secure a loan in their need by becoming a “Direct Selling Loan Agent“ at ShubhBank. Staying quarantined is a good time to start on the right foot and bode well even for your finances. Read on to find how lockdown is an ideal period for becoming a DSA at ShubhBank and for earning high payouts being your own boss.

The competition in banking industry is growing rapidly these days and many of the NBFCs have appointed business seekers as DSAs who procure clients for the financial commodities like loans, insurance etc. The basic responsibility for being our business associate is to find a customer who would be a potential client to specific financial product at ShubhBank and is paid with a set percentage commission on the lead they provide to the bank. He/she have to verify and complete all the documents for the further loan process.

Benefits offered by ShubhBank to the DSA
• We give regular trainings to DSAs to increase their product and its process knowledge.
• Our financial institution provides you a good source of income while staying home and without putting in long working hours.
• We do not demand any specialized educational qualifications, so any person interested with limited qualification can work and earn smart incentives.

Attach with ShubhBank as a DSA

To work with our financial institution, an aspirant can attach as DSA in following steps with us:
1. Before signing up as business partner, checklist all the factors like commission percentage, targets, working hours etc.
2. Provide all the documents and submit the application to bank and wait for verification.
3. Once all the verification is done then bank sends an agreement for DSA with a stamp duty.
4. Read all the terms and conditions carefully and return the duly filled form to the bank.
5. Once the agreement is submitted then DSA code will be generated by the bank.
6. This code is used as an ID for all future settlements with bank and can start functioning.

ShubhBank bears all the training of DSA on its products and methodologies. So “Be Our Business Partner“ because risk assessment is very low and this work can be done as an additional income source. The loan agent helps us to get a more direct approach to the prospective client in any given geographic location. We offer a fixed share of commission to the loan agent on each product sold by him to the customer. The bond between a DSA and financial institution is considered to be symbiotic as both benefit each other coexisting in a system. ShubhBank.com can help in all kind of online registration in very less time and you can reach us here for any queries.

Nowadays, with an outbreak of COVID-19 all over the world, every individual have realized the importance of health insurance in their life. A “Health Insurance Policy“ is a necessity of modern times as it provides you the financial protection in big medical emergencies or routine ailments. It has become priority that we simply can’t live without blaming it on high rising healthcare facilities. A health insurance plan covers cost of an insured person’s medical expenses in the hospital. As we know, health complications grows more as we grow older so it is better to start it at early age because most of the insurance companies charge lower premiums from the young. So choosing a right med claim policy can be a tough and mind boggling. Here are some essential factors to inform you why health insurance plan from ShubhBank is a great deal to reap the good benefits.

1) Co-Pay term: It is the fixed percentage of hospital bill you have to pay out from your own pocket. For instance, if your plan has a 20% co-pay clause, you have to pay Rs. 200 on a bill of Rs. 1000 and rest will be paid by insurer to the hospital. If you choose a no co-pay policy then you don’t have to burn a hole in your pocket.

2) Coverage Duration: Most of the individuals do not require any medical assistance till the age of 40, so always choose a plan that provides you lifelong coverage. This way you can keep the financial worries far away when your health begins to deteriorate as your hairs grow grey.

3) Waiting Period: Be aware, the expenses related to your pre- existing disease will not be covered in policy from the day you buy the policy. In such cases, you have to wait for a specific period. Before you apply for “Health Insurance Plan“ at ShubhBank, make sure to check the duration of waiting period to get covered for the ailment you are suffering from.

4) Rent of Room: The kind of room you get admitted in hospital matters incredible as your health insurance is concerned. Always check the sub limit on room rent because if you exceeded it, the insurer will end up reducing the sub limits for other medical expenses.

5) Pre and Post Medical Expenses: Pre medical expenses will cover all the series of medical tests of insured person before getting admitted to a hospital while Post medical expenses cover all the charges incurred by a person after getting hospitalized.

At the end, we can say that if you know your policy better, then there are greater chances of claiming benefits from your insurance company. Before you sign up for health insurance from ShubhBank, we advise you to read the terms and conditions carefully, check the list of inclusions and exclusions, compare the different policies offering different benefits and choose the right one that suits best to your requirements and make a wise move.

Nowadays, there is panic in air due to pandemic of COVID-19 and staying indoors is not only an effective way to remain healthy but it may also be a good time for financial security when all of us surely need it. However, all the individuals are facing downside of not being able to business or commute to workplace but there are some upsides of this isolation period. Generally, our life is fast paced that we forget to identify our monthly budget, so it is great time to embrace the isolation and make this a productive one. Here take a look upon how to keep check on your finances while staying quarantined while checking your monthly scenario.

Check Your Credit Report
Your credit report contains all the information about your Credit Card billings and loans. Moreover, it shows you the updated repayment history. By going through it, you’ll figure out if you’ve been missing any Credit Card payments or loan EMIs. Also, reviewing your credit history every now and then will help you boost your CIBIL score and thereby increases your chances of loan approval in future.

Review Your Savings
Prepared a brand new plan to save money in 2020 so why not review how you’ve fared in the first quarter. It’ll give you an insight into how realistic your plan is, and if required what changes you can make to it. Sometimes, plans sound great on paper but they don’t pan out the same way in real life. If you find out any gap in your plan and fix it before you move ahead into 2020.

Reschedule Your Household Budget
As essentials are taking center stage during the lockdown, it’s time to adapt your household expenditures to better suit the situation. Use this period to map out the general cash flow towards daily expenses. You might be already doing everything right in this regard, but it won’t hurt you to review it for what it’s worth.

Clear Your Credit Card Dues
If you’ve been paying your minimum monthly due towards your Credit Card bills, you may want to consider clearing all the dues because these plastic cards charge high interest rates which can cause your debt to grow big. You don’t want to be in debt trap. If clearing your dues is not your style, you can always consider transferring your outstanding balance to a Personal Loan. This way, you’ll be repaying your outstanding due at a lower rate of interest.

Forecast the Lockdown Savings
If you want to look up at the “Bright Side of this Lockdown“ just try and lay out how much you’re actually saving by not commuting to work place on a daily basis. Now it is the right time to optimize your savings and make this isolation work in the favor of your finances.

Well, it’s a best time to review your finances. Do to the same what companies do during a recession like identifying weaknesses and improve accordingly.