Taking a loan against your residential or commercial property can help you fund your financial needs with ease by offering you substantial funds at a lower interest rate than collateral-free loans. However, you can also use a loan against property to improve your credit score. By paying attention to repayment and interest features of a loan against property, you can ensure timely EMIs, which can boost your score. Read on to know how you can achieve the same.
Consolidate Debt with a Loan Against Property
When you have credit card debt that is piling up or a personal loan that comes at a high interest, resulting in bouncing EMIs and late payments, your credit score is likely to suffer. You can consolidate all your outstanding debt with a loan against property. Debt consolidation loan enables you to save on your expenses while paying only one EMI at a nominal interest rate instead of making multiple payments at different rates of interest at different deadlines.
With a loan against property in India you can avail a substantial amount to pay off all your existing debt without having to look for additional funds from another source. With only one EMI date to keep in mind, you are less likely to miss out on your monthly payment. Additionally, your monthly cashflow isn’t majorly affected by these EMIs as they are smaller in value. This makes repayment easy. The successful repayment of your outstanding debt and timely repayment of your loan against property is sure to boost your credit score.
Take a Loan Against Property to Build Credit History
In an instance where you haven’t borrowed credit previously or haven’t borrowed credit in the last 36 months, it is possible that your credit score may be too low since you lack credit history. In such a case, it may be difficult for you to avail an unsecured loan like a personal loan without having to pay a high interest rate. So, choose to avail a loan against property instead. The loan against property eligibility criteria is simple and you can enjoy lower interest rates against the value of your home. Making timely payments towards your loan can then help you build your credit score while successful repayment of your loan shoots your credit score up.
In order for the above methods to help you increase your credit score, it is necessary that you borrow only as much as you can repay and choose a lender that offers you affordable loan options. Taking a loan from Bajaj Finserv for example will help you ease repayment and make it effortless too.
Additional Read: Clear all your Debts with Loan Against Property
Bajaj Finserv offers you a Loan against Property that gives you finance up to Rs.1 crore if you are a salaried individual and up to Rs.3.5 crore if you are a self-employed individual. This funding is available at low interest rates and with minimal documentation too. This, coupled with a short application form that doesn’t take too much of your time, enables you to have your loan processed within 72 hours. You can also benefit from online account management and minimal prepayment and part-prepayment charges. Furthermore, a Flexi Hybrid facility enables you to borrow as you need and pay interest only on the used amount. You can also choose to pay interest-only EMIs.
Keep the above points in mind and choose a lender that offers the best loan against property features to help you repay your borrowed loan easily and successfully.
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How Fashion Websites Are Successful in Gaining Traffic with the Help of Instagram
Instagram introduced the business accounts in the year 2016, and this social platform has been helping businesses to grow and gain traffic ever since. It has been helping various brands interact with all the followers as well as the target customers in ways that are not only meaningful but also productive. The social platform not only allows the businesses to gain likes or follows but has assisted them to expand like never before. If you have a fashion blog or website, and you want to gain more traffic, you have to learn how you can earn these clicks with the help of Instagram.
Link in Bio
You might already be aware of the “Link in Bio” concept, especially if you are in the fashion business or any other business for a long time. This is considered to be one of the simplest ways in which traffic can be driven to your website in an easy and effortless manner buy Instagram followers. You can simply upload a post regarding your new fashion line, and post a caption that is meaningful and trendy, with the line, “Click the link in our bio to know more,” or, “Click the link in our bio to make this dress yours!” Interested Instagram will click on this link and visit your website. The best part is that the link can be updated at any point in time. Ensure that you are creative; so that you can end up attracting more audience.
Running Instagram Campaigns
Another simple yet incredible way to gain traffic is by running the advertisement campaigns. You should know that unlike all the organic posts, you can click on the Instagram ads. Users can click on a particular advertisement and you can simply direct them to a web page of your choice. Furthermore, Instagram assists you by adding “Learn More”. This call-to-action button helps in enhancing the click-through rate. You are free to target any kind of user.
Tagging Products or Services
Instagram has rolled out a new service, which allows businesses to tag different kinds of products or services in the organic Instagram photos. When users click on this product, they will be able to see a short description of the product, and after that, they can click-through to a business website if they want to. Through the website, they can not only learn more about the product, but they can make a purchase as well. This is another great way to direct traffic to your website. You can also buy real Instagram likes to give assurance to your followers regarding your product, because more the number of likes, more people will be attracted.
“See more” or “Swipe up” Instagram Stories
If your business account is verified by Instagram, you can link your organic stories to a particular product. Most of the brands are becoming eligible for verification, and for that, you do not need a huge number of followers. When users swipe up on a particular Instagram story, they will be redirected to a web page that has been decided by the brand.
Getting more traffic can be a hassle if you do not have a proper idea about making use of your Instagram account. It is important that you go through all these methods once, and see if you are getting the intended traffic volume on your fashion site.