Life is unexpected and a financial crisis can happen at any time. People keep aside a part of their earned money as savings to deal with such financial crises. However, when an emergency arises, people often look for different sources from which they can borrow a loan, or mortgage their assets. However, there is one easier and simpler option too. Buying a loan against FD can get you instant liquid cash for managing such situations. All you need to do is have an FD, and the company or bank with which you have it, will provide you a loan against 70-90% of your total principal amount deposited in FD.
Great Option for Small Loans
Loan against FD is a great option for dealing with short-term crisis or when you want small amounts of money. FD can come to your rescue before they get matured by providing a loan/overdraft facility. Companies offers loan against FD facility by providing its customers a loan of 60% of the principal amount in the case of non-cumulative FD. Whereas, in the case of a cumulative FD it amounts up to 75% of the principal amount.
Less Interest Rates
A great advantage these loans have over other loans is they have much lesser interest rates than other loans. The rates of interest on these loans is charged only from 2% to 3% more than the interest rate on your FD. NBFCs offers interest on FD at 7.60%, and the loan interest rates amounts up to 2% above that rate. Normal loans are charged between 9% to 15%, hence, a loan against FD is a much better and cheaper option when looking for small amounts of loans.
Minimum Documentation and No Costs
The duration for which the loan is taken is generally for the same time period in which the FD gets matured. Sometimes it can be less than the duration of FD, but can never be more than that. While taking a loan against FD, you won’t be able to break it to get your principal amount before it gets matured. You cannot withdraw any money from your FD till you would repay the whole amount of loan in full. NBFCs have a very simple process of providing the loan with a single page documentation. There are no processing fees or any other costs, and you get the disbursal of amount in your bank within 24 hours.
Prepayment and Foreclosure
Foreclosure is the procedure of foreclosing your loan by repaying the amount of loan before the duration of the loan ends. Unlike other loans, loan against FD doesn’t charge you any such charges or fees. This gives you the flexibility of paying off the loan amount whenever you want to. Company offers flexible repayment options for these loans which is within the tenure of the FD, which initiates after the 90 days from which the FD has started.
An important thing to be noted is – the time when you are applying for the loan. If you are applying for the loan when the maturity date of the FD is near, the maximum duration you can get to pay the loan off is limited to the time remaining till the maturity of the FD. Due to this, you might not have many months and you would have to pay higher EMIs to pay it off. So, ensure that you check which FD you are applying for loan against, if you have multiple FDs of short durations. Look for the one whose maturity date is farthest by analysing how much EMIs you would be able to pay.
HOW WE RESTORE TRAVERTINE TILE FLOOR
Travertine Floor Restoration all-natural rock such as Marble, Stone, Onyx, Limestone, Slate, etc. The main element of the big difference between Travertine and other natural rocks lies in the formation of the rock, the hardness of the rock, and its appearance. Travertine is shaped in hot rises and limestone caves. Travertine is different from Marble or Limestone, which comes in the metamorphic rock category. Critical faculties of Travertine rock would be the holes within the rock which are due to co2 evasion.
What is the big difference between advanced rank travertine, industrial rank, or A level?
The rank of Travertine is all of the time established based on the holes within the stone. Holes within Travertine rock are the principal rocks in nature and criteria. Within the travertine business nowadays, the flash rule is …the fewer holes you will find within travertine rock, the higher the quality. Travertine pavers with barely any holes inside them are considered A-Rank or Premium Rank quality, while porous rock with plenty of holes inside it (looking like a sponge) is deemed industrial quality.
We send the process as 4+ restoration process of travertine ground as it involves four significant steps and sometimes a few added kinds according to added requirements.
As you will see, travertine tile ground displays significant wear signals and grab, scratches, dullness, etching marks, and dirty grout, which in some places is damaged or missing.
We modify various determination quantities of stone impregnated patches to eliminate scratches, etching, dullness, and imperfections. We grab surplus water with a damp cleaner system.
Following a long time of wear and grab the grout with this travertine ground turned dirty. We inspect the grout thoroughly. We clean grout lines with a floor machine and manually applying alkaline cleaner. We repair the damaged and plots lacking grout.
They usually are occurring travertine holes.
Travertine consists mainly of calcium carbonate. Travertine is usually shaped with numerous holes in its structure. Those commonly occurring holes make Travertine quite a distinctive stone.
As required, these travertine holes may be filled or remaining as is. Frequently, travertine tiles are supplied during the production process.
When rock specialists refinish travertine tile floors in almost every instance, numerous commonly occurring holes can become exposed.
In this instance, travertine tile ground must be filled up with grout throughout the whole surface. Unless you find only a few big wholes exposed and the remaining floor is in great form, these holes can be filled separately, one by one.
In that project, we had a case of a few big holes being exposed after refinishing. We completed most of the travertine holes with unique filler.
Even as we approach the final few steps of our project, we use stone-impregnated patches for excellent polishing. The patches we use are made with billions of tiny diamonds. They help us carry travertine ground to a perfect shin finish.
We use a unique natural rock wax after the restoration process is total to guard the stone’s natural splendor and prolong the travertine tile life.
As a result, we have repaired travertine tile ground with a beautiful sheen, clean and repaired grout, and filled exposed travertine holes during all travertine surfaces. The consumer is very pleased with the result.