Hurray………
The Economic Times, The Power of Ideas Campaign is now in its second phase.
Today, it has published the shortlist of 1000 entries for The Power of Ideas initiative. To find out if your idea is there, Click Here.
The Next phase will be of Tips by ET. And after that in the Mid 2009, all of them will be sent to Venture Capitalists & Angel Investors who will Invest in their Ventures.
Punjab National Bank (PNB) has introduced a new Online Service.
PNB Online – Utility Bill Payment Services.
Just register as a PNB Internet Banking Customer. After that visit www.pnbindia.in and click on Bill Payment Link. Select the type of payment from the drop down box and your account will be debited online once your Net Banking User ID & Password are authenticated.
Key Features -
- Free Service
- Instant receipts
- No separate account, credit or debit card is required.
You can Pay Online -
- Telephone / Mobile Bill Payment
- Electricity Bill Payment
- Insurance Premium Payment
- Online Donation Payment
- Magazine Subscription Payment
It’s secure & hassle-free. Go ahead & try it.
The term Signature Loan may sound to you fancy. But it is not. It is a Simple type of Personal Loan without any collateral.
Definition: – Signature Loan -
- Wikipedia: A Signature loan is a loan that is not backed by collateral. Also known as a Unsecured loan or personal loan.
- Investopedia: A type of personal loan offered by banks and other finance companies that uses only the borrower's signature and promise to pay as collateral.
A signature loan can typically be used for any purpose the borrower chooses, although the interest rates will be higher than most forms of credit due to the lack of any real collateral.
Also known as a "good faith loan" or "character loan".
- A loan for which no collateral is pledged.
- An unsecured personal loan based on a borrower's credit history.
Explanation: -
Banks will give Signature Loans also known as Personal Loans to those who fulfill the following 2 criterias.
01) A Solid Credit History
02) A Solid Source of Income
Sometimes a Bank may ask for a co-signer. but the co-signer would only be signing a promissory note, and would be called upon only in the event that the borrower is unable to repay the loan.
Finance Gurus Say that, Signature Loans are the one of the worst Debt Products after Credit Cards. Because their Interest rates are very high. So Borrowers should avoid these type of loans if possible. Even if in case of acute Emergency, one should consider the other options to raise the money rather than blindly go for a Signature Loan.
As Economy advances, People will need more and more Debt to consume products. And Loan Broker will come into play this time. The Financial market is a Jungle. It is full of so many Loan/Debt products that it is almost next to impossible to analyze various loan deals. A Loan Broker will work as a intermediary party between lender and borrower and help to find out great deal.
Definition: – Loan Broker
- A Loan Broker is one who, for a Fee, brings together a borrower and a Lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as a security.
A Loan Broker is also commonly known as a Mortgage Broker.
Explanation -
A Loan Broker has a complete knowledge of the Financial Market and various Debt Products available in the market.
Commonly the job of a loan broker is to find a good Deal for you from the market and do a necessary paperwork for you. Commonly Loan Brokers work as a Mortgage Brokers because Property Deals are big deals and so they can charge high fee.
A Loan Broker will find a perfect Lender for you. He will also compare the Interest rate, various charges and terms associated with the lender.
In short, if you find a perfect loan broker for you, than he will assist you in all the legal documentation and paperwork for taking a Loan (Mortgage Loans). Of course loan brokers don’t work for free. But their Fee is worth it…..!!!!!
Refinancing Loans are now a days becoming more and more popular because of the bad credit history of people. People take loans without thinking much about it but after that one day in the morning when they wake up, they find themselves in a deep debt, up to their eye balls.
Definition: Refinancing Loan / Refinancing -
- Wikipedia: Refinancing refers to the replacement of an existing debt obligation with a debt obligation bearing different terms. The most common consumer refinancing is for a home mortgage.
- Investopedia: Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many common reasons why homeowners refinance: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa; the opportunity to tap a home's equity in order to finance a large purchase; and the desire to consolidate debt. Some of these motivations have both benefits and pitfalls. And because refinancing can cost between 3% and 6% of the loan's principal and - like taking out the original mortgage - requires appraisal, title search and application fees, it's important for a homeowner to determine whether his or her reason for refinancing offers true benefit.
Explanation: -
There are so many reasons for refinancing the loan. There are some advantages and disadvantages of Refinancing.
- Shortening the Loan’s Term
- Converting between Adjustable & Fixed rate Mortgages
- Tapping Equity & Consolidating Debt
Advantages of Refinancing Loan -
Refinancing can be a great financial move if it reduces your mortgage payment, shortens the term of your loan or helps you build equity more quickly. When used carefully, it can also be a valuable tool in getting your debt under control.
Disadvantages of Refinancing Loan -
According to the Finance Gurus, Refinancing won’t work for People even though the Maths & Logic behind it works….. Because the people have not changed their Bad Financial Behaviour & Habits.
What Most of the people do is, they take the Refinance Loan to convert their high interest credit card & personal loans into low interest loans and to free the Credit Limit of their Credit cards. But they don’t change their behaviour and Money Habits so after taking a Refinancing Loan, they again start scratching their Credit Cards & start taking more Personal Loans. So the next time situation becomes more worst.
Because Now they are in 2 debts. One is Refinancing Debt & other is their Credit Cards Debt. So the situation worsens more……!!!!!! And that’s why Finance Gurus advise to change your Spending behaviour before taking Refinance Loans.
The term Subprime Lending or Subprime Mortgage or Subprime Loans become very much popular since last 2 years. So it is very important to know that What i Subprime Loan & How actually it works?
Definition: Subprime Loans -
- Wikipedia: - Subprime lending (near-prime, non-prime, or second chance lending) is a financial term that was popularized by the media during the "credit crunch" of 2007 and involves financial institutions lending to borrowers who do not meet prime underwriting guidelines. Subprime borrowers are more likely not to pay the money back, such as those who have a history of not paying loans back, those with a recorded bankruptcy, or those with limited debt experience.
Although there is no standardized definition, in the US subprime loans are usually classified as those where the borrower has a FICO score below 640. Subprime lending encompasses a variety of credit types, including mortgages, auto loans, and credit cards.
- Investopedia: - A type of loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans. Quite often, subprime borrowers are often turned away from traditional lenders because of their low credit ratings or other factors that suggest that they have a reasonable chance of defaulting on the debt repayment.
Explanation: -
Again, According to Finance Gurus, This is the bad type of loan. Because the Lenders will charge you very high interest rate on this Loan.
However, Subprime Loan is still a good option if you are going to use it to repay your ultra-high interest rate loans such as Credit Card Loans.
Otherwise, This Loan is not in any way a Good Loan because you already have a Bad credit score and on the top of this the Lenders are charging you much higher interest than the prime Loans. So your chances of default rises several folds.
Finance Gurus don’t suggest to take these loans. Because Poor Credit Score means you are already a Bad borrower than why to take more loans and worsen your Credit Score More?…..
Hard Money Loan is also a very popular type of Loan. But many people don’t know what is it and how they can use this type of loans carefully to build their wealth? Some people have a misbelieve that Hard Money Loans are the loans which offers you hard cash. But this is not true.
Definition: Hard Money Loan -
- Wikipedia: - hard money loan is a specific type of asset-based loan financing which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.
Many hard money mortgages are made by private investors, generally in their local areas. Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the maximum loan to value ratio is 65-70%. That is, if the property is worth $100,000, the lender would advance $65,000-70,000 against it. This low LTV provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.
Explanation: -
Again this is a trap. According to Finance Gurus, this is nothing but the another Debt Trap. Lenders love to give these type loans to you because these loans are high interest loans so your chances of default become very very high. And another thing is that, this loan is backed by Mortgage (Your Home or your Property). So in case of your default, your Lender will have a first right on your property.
Initially it will look cool. Because Lenders offer this type of loans very freely. The real reason for this is, because Hard Money Loans are backed by your property. So in case of your default, your lender will become the owner of your property.
If possible, never ever take this loan. Because it is the very risky loan. Because of the very high interest of this loan, your chances of default become very high.
Home Improvement loan is the another bad loan. Its nothing but the another trap to give you a Bad Debt.
Definition: Home Improvement Loan -
- Home Improvement Loan (HIL) is a Home Mortgage to finance permanent improvements for energy conservation, solar installation, rehabilitation, modernization or addition.
- A home improvement loan is (a) any dwelling-secured loan to be used, at least in part, for repairing, rehabilitating, remodeling, or improving.
- An advance of funds, usually not secured by a mortgage and usually short-term, made to a property owner for such improvements as maintenance.
- A loan made for the purposes of making improvements to a property.
Explanation -
Home Improvement Loan is also known as HIL. HIL may or may not be secured by a Mortgage (Your Property). It really depends in the country you live and your credit report.
Some Banks give you Home Improvement Loans without asking for you a Mortgage while some will ask for a Mortgage.
According to Finance Gurus, This is a Bad Loan. Because after taking this loan and improving your home you are not going to increase the value of your property. They argue that, if you want to improve your home than why not save first and than spend rather than taking a loan today and paying it with interests tomorrow?
Some people excuse themselves that, Because Home improvement loan gives the Tax Breaks. But this is not the reason to take a HIL. Any Loan which does not produce an Asset at the end is not the Good Loan but the Bad Loan.
Bad Credit Loans are increasingly becoming popular now a days. These Loans are offered to people who have a Bad Credit History.
Definition: – Bad Credit Loan -
- A Loan that is offered to people with Bad Credit History is known as Bad Credit Loans. There are many banks who give you Bad Credit Loans. The reason why this loan is popular for banks is, Because Banks can charge you a higher interest rates than traditional loans by giving you the excuse that they are offering you Bad Credit Loans.
Explanation -
You have to understand the different between Bad Credit Versus No Credit. Both the words are entirely different. Bad Credit means in the past your Loan paying history was very bad. Means you were defaulted or not regular in paying your loans. In fact you may have filed Bankruptcy because of the Bad Credit.
While No Credit means, you have never ever taken any kind of loan or borrowed money from anyone in your life. And that’s why there is no Credit Report at all for you.
According to Finance Gurus, Bad Credit Loan is a trap. It is the trap you to push towards higher interest rate loans. Some Banks offer you Bad Credit Loans easily even though you were defaulted in paying loans in the past because Banks can charge higher interest from you.
People think that Bad Credit Loans are Mercy Loans for them. Because usually Lender (Banks & Financial Institutes) never give you a loan for bad Credit History in the past. But This is a trap. By telling you that, the Lender is offering you a Loan even for your Bad Credit, they will charge much higher interest from you.
In short, The chances of default of Bad Credit Loans are very high.
What it means by Financial Independence? Does it mean that you are Rich Now? Does it mean that you have to be Rich to be Financially Independent?
Financial Independence does not have anything to do with Rich. Financial Independence means You no longer have to depend on your hard earned Money. It means that weather you work or not, The Income from your Assets (& other sources) is much more than your expenses.
It means that Your Passive Income is much much higher than your Active Income. So Weather you work or not in the Economy, Your Passive Income from various sources will maintain your life style.
Financial Independence in true sense can be achieved. In other words, Financial Independence means Retirement. You can chose the path of your life & not allowing the circumstances to chose the path of your life.
So How Can you achieve Financial Independence?
Well, you can achieve Financial Independence in your life very early. Earlier than the usual retirement Age (60-65 years). But for that you have to start 2 things early.
- One is Investments &
- Second is Start Developing your own Assets (Businesses).
I have observed that the people who have started the above 2 things since their early life have become Financially Independent very early in their life in comparison to those who have started one or 2 of the above things in their late lives.
I have also observed that, people who don’t believe in Investments & Developing Businesses (Probably because they think that it is Risky) can not retire early in their life. In fact, they can never be Financially Independent in their lives. They have to work in the economy even after the age of 65 years to accommodate their expenses.
So Starting Investments & Developing your own Businesses is very important in your life to achieve Financial Independence.
Equity Loan doesn’t mean Loan on Equity (Stocks). Many people have a misbelieve that Equity Loan means Loan against Equity. Basically it is a ‘Home Equity Loan’.
Definition: (Home) Equity Loan -
- loan usually secured by the proportion of the home in which one has equity. It usually operates like an overdraft, where the borrower has a set credit limit to which they can draw funds.
- Wikipedia Definition: An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.
- A loan taken against a home's equity; in essence, the homeowner is taking out a loan against him or herself, and is repaying into their own mortgage.
- A loan based upon the equity in a property.
- A loan based on the borrower's equity in the home.
- loan that uses the borrower's equity in real property as collateral. The loan may be for a variety of purposes. Also known as a second or junior mortgage loan.
- Investopedia Definition: A home-equity loan, also known as a second mortgage, lets homeowners borrow money by leveraging the equity in their homes. Home-equity loans exploded in popularity in 1996 as they provided a way for consumers to somewhat circumvent that year's tax changes, which eliminated deductions for the interest on most consumer purchases. With a home-equity loan, homeowners can borrow up to $100,000 and still deduct all of the interest when they file their tax returns.
Explanation: -
Two Types of Home-Equity Loans Home equity loans come in two varieties - fixed-rate loans and lines of credit - and both types are available with terms that generally range from five to 15 years. Another similarity is that both types of loans must be repaid in full if the home on which they are borrowed is sold.
Fixed-Rate Loans
Fixed-rate loan provide a single, lump-sum payment to the borrower, which is repaid over a set period of time at an agreed-upon interest rate. The payment and interest rate remain the same over the lifetime of the loan.
Home-Equity Line of Credit
A home-equity line of credit (HELOC) is a variable-rate loan that works much like a credit card and, in fact, sometimes comes with one. Borrowers are pre-approved for a certain spending limit and can withdraw money when they need it via a credit card or special checks. Monthly payments vary based on the amount of money borrowed and the current interest rate. Like fixed-rate loans, the HELOC has a set term. When the end of the term is reached, the outstanding loan amount must be repaid in full.
Benefits for Consumers Home-equity loans provide an easy source of cash. The interest rate on a home-equity loan - although higher than that of a first mortgage - is much lower than on credit cards and other consumer loans. As such, the number-one reason consumers borrow against the value of their homes via a fixed-rate home equity loan is to pay off credit card balances (according to bankrate.com). Interest paid on a home-equity loan is also tax deductible, as we noted earlier. So, by consolidating debt with the home-equity loan, consumers get a single payment, a lower interest rate and tax benefits.
Benefits for Lenders Home-equity loans are a dream come true for a lender, who, after earning interest and fees on the borrower's initial mortgage, earns even more interest and fees. If the borrower defaults, the lender gets to keep all the money earned on the initial mortgage and all the money earned on the home-equity loan; plus the lender gets to repossess the property, sell it again and restart the cycle with the next borrower. From a business-model perspective, it's tough to think of a more attractive arrangement.
Recognizing Pitfalls The main pitfall associated with home-equity loans is that they sometimes seem to be an easy solution for a borrower who may have fallen into a perpetual cycle of spending, borrowing, spending and sinking deeper into debt. Unfortunately, this scenario is so common the lenders have a term for it: reloading, which is basically the habit of taking a loan in order to pay off existing debt and free up additional credit, which the borrower then uses to make additional purchases.
Reloading leads to a spiraling cycle of debt that often convinces borrowers to turn to home-equity loans offering an amount worth 125% of the equity in the borrower's house. This type of loan often comes with higher fees because, as the borrower has taken out more money than the house is worth, the loan is not secured by collateral. Furthermore, the interest paid on the portion of the loan that is above the value of the home is not tax deductible.
Paying for a child's college education is another popular reason for taking out home-equity loans. If, however, the borrowers are nearing retirement, they do need to determine how the loan may affect their ability to accomplish their goals. It may be wise for near-retirement borrowers to seek out other options with their children
Direct Loan is the program run by Federal Government, USA to finance student’s Education via giving them direct loans without involving third parties.
Definition: Direct Loan -
- a loan by a lender to a customer without the use of a third party; direct lending gives the lender greater discretion in making loans.
- The William D. Ford Federal Direct Loan Program, also referred to as Direct Loan Program, is a federal program that provides loans to student and parent borrowers directly through the US Department of Education.
- Direct Loan Servicing Center - The US Department of Education's agent contracted to collect Direct Loans and handle deferments, repayment options, and consolidation.
Explanation: -
Click Here to go to Direct Loan Servicing Online
Federal Government of USA is very much conscious about Student Education. So they have launched The William D. Ford Federal Direct Loan program also known popularly as Direct Loan Program. Under this program, Federal Government provides loan to students and parents directly through the US Department of Education without involving third parties.
The main advantage of Direct Loan is that, no third parties (Banks & Financial Institutions) are involved in giving loans so the interest rate of this loan is very low plus other service charges are also very minimal.
Right now in the USA, this is the Best funding option to Finance the College Education. This is the best type of Student Loan in USA right now.Direct Loan is a very cheaper say Cheapest Student Loan.
As Global Economy is growing, more and more Banks are offering Bank Loans to people. Bank loans are of so many types. Such as Home loans, car loans, personal loans, mortgage loans, Education/Student Loans….and many more…
Definition: Bank Loan -
- loan made by a bank; to be repaid with interest on or before a fixed date.
- A Bank Loan can be of any type such as Car, Education, Home, Personal, Mortgage….etc… Bank has a portfolio of Debt products known as a Bank Loan.
Explanation -
There are several varieties of Bank Loans available in the Financial Market. But Middle Class people don’t know that how the Maths behind Bank loans work? They just take loans whenever they get a salary rise.
But a Smart person is one who uses these Bank loans in favour of him to get more richer. Say for Example, Typical Middle Class take Personal Loans, Car Loans & Credit Cards while a Smart person takes Education loans, Business loans & Mortgage loans to get richer faster than anyone else.
Your Financial Success depends on which Bank loan you take and how you use it in your favour to get rich. And this is purely dependent on your Financial IQ.
Rich people always take a Good Bank Loans while middle class always take a Bad Bank Loans. Good Bank loan is one which at the end of the loan repayment produces an Asset for you (Property, Home, Business, Education). While a Bad Bank Loan is one which at the end produce only depreciating items (Car, Mobiles, Shopping items, Consumer Goods…etc…)
Car Loan is the second most commonly used loan after Credit Cards & Mortgage/Home Loans. Banks and Financial Institutes love this loan because consumers often can’t stop their temptation to buy a new car.
Definition: Car Loan -
- Car Loan is a type of Auto Loan. Auto Loan is a more broad term. Car Loan means a personal loan to purchase a Car.
- There is another entirely different variety of Car Loan also known as a ‘Car Title Loan’. A short-term loan in which the borrower's car title is used as collateral. The borrower must be the lien holder (i.e. own the car outright).The borrower must be the lien holder (i.e. own the car outright). Loans are usually for less than 30 days. If the loan is not repaid, the lender can take ownership of the car and sell it to recoup the loan amount. These loans are also known as "auto title loans" or just "title loans".
Explanation: -
Car Loans are Auto Loans which are used to finance the purchase of a New Car.
While Car Title Loans are the loans in which the borrower already has a Car. But he/she puts this Car as a collateral and borrow the money. These loans are for short time period. Means less than 30 days.
Car title loan lenders often target those with low incomes and bad credit and charge high interest rates; those with access to credit cards or bank loans would not be the target customers. Car title or auto title lenders are sometimes called "predatory lenders" because of the way in which they prey on those who need cash in emergency situations.
Although lenders must state the interest rate at the time the loan is made, if it is a short-term loan, the borrower may not realize that the quoted rate is not annualized. For example, if a one-month loan rate is advertised at 25%, that annualized rate is actually 300%.
In short, Car Title loans are the traps. They are nothing but the ultra-high interest rate loans. Lenders give these loans to people with a low Financial IQ and a bad credit history.
Consolidation Loan is a part of Debt Consolidation. These types of loans are for those who are in a deep debt by several loans.
Definition: Consolidation Loan -
- Debt consolidation loan entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.
Debt consolidation loan can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.
- A manufactured home loan obtained that combines payments of separate bills into one loan payment.
- combining of several different debts to create one monthly payment, typically more affordable and sometimes with a lower interest rate overall.
- The replacement of two or more loans with a new single loan, often with a lower monthly payment and a longer repayment period. Also known as a consolidation loan or debt consolidation.
- combining several debts into one loan usually to reduce the annual percentage rate or the dollar amount of payments made each month, extending them over a longer period of time.
- Allows the borrower to combine a number of existing loans into one loan. Borrowers typically consolidate loans to lower monthly payments.
Explanation: -
Say for Example, you are in a deep debt of several loans. Such as you have 5 credit card bills out standing, you have your car loan remaining, on the top of this you have taken education loan for your children plus you have taken several personal loans.
Now you can’t pay all of these debts because combine payment of all of these debts goes beyond your monthly Income. So What you do is, You go for a Debt Consolidation.
Your Debt Agent negotiates with your lenders and convert all of your loans into a Single, low interest, long term loans backed by your Home (Most Commonly). This is known as Consolidation loan or Debt Consolidation.
Well, according to some Finance Gurus (Dave Ramsey), Consolidation Loan (Debt consolidation) doesn’t work for you even though the maths behind it works because you haven’t change your behavior. The main reason why Debt Consolidation doesn't work is, people have bad financial spending habits of taking loans.
Auto Loans are the variety of loans to finance your vehicle. Auto Loans includes Car loan, two-wheeler loans, motor cycle loans & Commercial vehicle loans.
Definition: – Auto Loan
- Also known as Automobile Loan. In fact Auto loan is the short form of Automobile loan. a personal loan to purchase an automobile.
- Auto loan is the type of loan which is manly used to finance the automobile purchase.
Explanation: -
Commonly people take Auto loans to finance their purchase of Automobiles. But the problem is that, Middle Class people don’t have much Financial Education. So what they do is, as their Salary Income goes high, they take higher and higher auto loans to purchase more and more costly vehicles.
Banks & Financial Institutes love this. Because higher the loan their customers take, higher they will make profits from them from interest, late payment fees…etc…
Middle Class don’t want to understand and accept the fact that, they should not take auto loans. While on the other hand, Rich people are Financially more intelligent than the rest of others. So instead of taking Auto loans, they prefer to buy second hand used vehicle. So that they don’t have to take any Auto Loans.
Remember, If you take Auto Loan for your Business purpose means as a Business Vehicle, than its a good expense because after all it helps your business to grow. But if you take Auto loan just because your Salary is increased, its a fool’s plan.
Smart people are those who take Auto Loans to finance their Business Vehicles and not their Personal Vehicles.
Credit Card is the fifth Business idea ever since the history of Man Kind after Internet, Google, Mobile & Chip.
Definition: Credit Card -
- A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.
- A plastic card, with a magnetic strip or an embedded microchip, connected to a credit account and used to buy goods or services.
- A credit card is a card whose holder has been granted a revolving credit line. The card enables the holder to make purchases and/or cash advances up to a pre-arranged limit.
- A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual's credit rating.
Explanation: -
Credit Card is the Worst Financial Product ever in the history of man kind. It is the worst Debt Product of the mankind. Credit Card Companies charge anywhere between 35-50% per Annum interest rates.
In USA, Buy today (with Credit Cards) and Pay tomorrow culture become popular since the Credit Cards came.
In USA, more than 75% of Bankruptcies are filed because of the Credit Cards.
Finance Gurus advise people to cut down all of their credit cards and replace it with Debit Cards. But because of the aggressive marketing of the Credit Card Companies, people blindly buy Credit Cards without thinking much about its consequences.
Home Loan is a most popular variety of Loan. In USA, since last so many decades Home loan is so much popular that people are using home loans to fund their various personal needs.
Definition: -
- a loan secured by equity value in the borrower's home.
- Home Loan is a property backed (Your Home) Loan. It is commonly known as ‘Mortgage’. A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.
- A mortgage is the pledging of a property to a lender as a security for a mortgage loan.
- A home loan requires you to pledge your home as the lender's security for repayment of your loan. The lender agrees to hold the title or deed to your property until you have paid back your loan plus interest.
Explanation: -
A Home Loan is a very powerful tool to build Wealth if used properly. However, according to Finance Gurus, Home Loan/Mortgage is a Double Edged sword. Because if used properly, it can make you Rich, Ultra-Rich but if it works against you, it can make you poor or even Bankrupt.
Some people take Home Loans to fund their property Investments. And this use makes them rich in the long run. But some people use it to fund their personal needs. And this is very dangerous and risky. Many people became Bankrupt by doing this. So Financial IQ is the key to success in using this tool in favour of you….!!!!
Mortgage loan is the most commonly used loan type all around the world. In countries like USA, mortgage loans are the main source of Income of any Bank.
Definition: Mortgage Loan -
- A mortgage loan is a loan secured by real property through the use of a mortgage (a legal instrument). However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.
- A loan which utilizes real estate as security or collateral. The mortgage or Deed of Trust is the agreement to pledge a home or other real estate as security.
- A loan used for the purchase of a home. The home is the collateral for the loan.
- A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
- Special type of instalment loan involving the purchase of real estate and allowing for regular payments of interest and principal. Typically, a mortgage loan involves a larger sum of money and a longer repayment period than an ordinary instalment loan.
Explanation -
A Mortgage Loan is the Best way to buy your own Dream Home. Say for Example you want to buy a house of US $ 1,00,000 than you put a 10% ($ 10,000) Down payment & take rest of $ 90,000 as a mortgage loan from a bank by putting the same home as a collateral.
So in case of if you fail to repay that loan, your bank will do the foreclosure of that property and by selling it repay your remaining loan amount with interest and giving back you remaining amount.
However, Mortgage loans are risky according to some Financial Advisors & Finance Gurus especially when you put your real estate (property) on mortgage to fund your personal needs or to convert your Credit Card Debt into a Secure mortgage loan by putting your home or property as a collateral.
Credit Card is the unsecured loan while Mortgage is the property backed loan. Banks will tell you that by taking a mortgage loan, you can convert your high interest loans into low interest loans but they will never tell you that you are converting your unsecured loans into secured asset (Property) backed loans.
Student Loans are the best way to Finance the students’ Higher Education. It is commonly taken by students to fund their higher education.
Definition: Student Loans -
- Student loans are loans offered to students to assist in payment of the costs of professional education. These loans usually carry a lower interest rate than other loans and are usually issued by the government. Often they are supplemented by student grants which do not have to be repaid.
- Money issued to a student on the understanding that it will be repaid upon the completion of a student's studies
- student loan is a type of loan that is used by a student to pay for education expenses, such as tuition, books, or room and board.
Explanation: -
In Developed Countries like Europe & USA, student loans are very popular. Government also gives student loans on very low interest rate which students have to start repaying after the completion of the study.
Students loan is an Asset producing Loan & That’s why some Financial Planners call it Good Debt. (Credit Cards, Car Loans & Personal Loans are Bad Debt.). However, Some Financial Advisors & Financial Gurus argue that, going into a huge Debt for taking higher education degrees is an insanity especially you know that there is a severe job crisis in the job market.
According to them, Education system is no longer effective to ensure any kind of financial success in your life. So why to go into a deep debt by taking Education Loans especially you know that there is a crisis in the job market. Rather why not to start your own Business with this much Money?
According to some Finance Gurus, Rather than taking student loans, you should start your own Business. Investment in Business is better than Investment in Education.
However, It is a controversial theory. Some people believe this theory and some are against it.
What it means by Commercial Loans? This Article is all about brief description of Commercial Loans.
Definition: Commercial Loan -
- Also known as Business Loan: a bank loan granted for the use of a business.
- A Commercial Loan means a debt-based funding arrangement that a business can set up with a financial institution. The proceeds of commercial loans may be used to fund large capital expenditures and/or operations that a business may otherwise be unable to afford.
Explanation -
Commercial Loans are for small to medium sized Businesses. The reason is, because of their smaller size they are not allowed to raise Capital directly from (Primary) Equity & Debt Markets. And that’s why they have to be dependent on Financial Institutions mainly Banks.
There are so many varieties of Loan products under the heading of Commercial Loans. Some Examples are A Line of Credit, Un secured Loans & Term Loans. There are many other varieties of Commercial Loans.
In Simple words, Commercial Loan is one which a Company takes from Financial Institutes (Banks) to expand its Business. Commercial Loans are for Business Purposes.
However, small businesses should shop around at different institutions to determine which lender offers the best terms for the loan.
This Article is all about Best Web Businesses on the Web. These are the Best Web Businesses. I have published this list for you so that you can have a better idea about best Web Business. Not only this but you may find some great Web Business idea over here.
Here are the Top 25 Best Web Businesses on the Web -
Apartment Therapy
www.apartmenttherapy.com 
Having an attractive, organized, and healthy home to retreat to will fortify you against just about anything the outside world has to throw at you. Apartment Therapy can help you create such a space for yourself. This excellent blog is packed with design, style, and shopping tips suitable for any home, whether your taste (or budget) inclines more to simplicity or luxury.
Epicurious
www.epicurious.com 
Who can afford to eat out anymore? The rising cost of food doesn't mean that you can't eat well, however. It just means you need to learn to cook. An enormous collection of recipes and a vibrant user community make Epicurious your top stop for any meal you want to create yourself.
ESPN
www.espn.com 
From world-spanning events like the Olympics to local high-school football, ESPN covers it all, and is the Web's premiere sports site.
FoodNetwork.com
www.foodnetwork.com 
If you're addicted to the Food Network TV channel, chances are you'll love FoodNetwork.com. Tons of quick and easy recipes, cooking tips, and a shopping site that'll sell you the tools you need to make the meals you want (and the stuff hawked by your favorite FoodNetwork host) add up to a great site.
io9
io9.com 
If you dig the science fiction of Iain M. Banks and William Gibson and Ronald Moore's Battlestar Galactica, if you like science fiction that intersects more with present-day reality and politics than tired old Cold War-era franchises like Star Trek, then this blog's for you.
PostSecret
postsecret.blogspot.com 
Got a secret you want to share anonymously? Send it to PostSecret on a home-made postcard (you'll have to dig around to find the address) and maybe it'll be posted for the world to see. It's one of the Internet's coolest ongoing art projects, and it's a hell of a lot cheaper than therapy.
Project Gutenberg
www.gutenberg.org 
While e-books are suddenly a hot business thanks to the Kindle and its competitors, the originators of the e-book idea had something a little more egalitarian in mind: free e-books. Project Gutenberg is a vast collection of works no longer under copyright, free for download in a wide variety of formats.
TreeHugger
www.treehugger.com 
If you're concerned with sustainability, the ecology, and green topics in general, you really ought to be reading this blog. The site has the resources of the Discovery Channel behind it, and that translates into a wealth of posts every day, including news, how-tos, editorials, and more.
Yelp.com
www.yelp.com 
Whether you're new to an area or just trying to break out of old ruts, if you're looking for local restaurants, clubs, or stores, Yelp is a great place to start. The site's made up entirely of user-submitted reviews, so it gives you a real sense of what's good in your area.
Bloomberg.com
www.bloomberg.com 
Bloomberg.com is where the pros go for their financial news and updates, and it's open to us regular folk, too. Track stocks, read breaking news, and use Bloomberg's investment tools and calculators to aid your financial decision making.
Indeed
www.indeed.com 
Indeed makes online job hunting as painless as a Google search. Simply enter the kind of work you're looking for and your location, and Indeed will give you matching job postings from across the Web, including listings from job sites like HotJobs and Monster.
Kotaku
www.kotaku.com 
Still our favorite gaming blog, Kotaku is constantly ahead of the pack when it comes to digging up leaked gaming news and info. And it's one of the few blogs whose comments we actually enjoy reading, most of the time.
Lifehacker
www.lifehacker.com 
We're sure there was life before Lifehacker, but we're glad our memories of such a cumbersome, frustrating existence have been mercifully stripped away. The blog's steady stream of tech-leaning tips and advice just makes life easier.
MakeUseOf.com
www.makeuseof.com 
This technology blog is one of the best on the Web at finding cool, free software and Web apps, and at providing walk-through tutorials for them. Whereas some blogs obsess over what's new, MakeUseOf.com emphasizes what's good. That's a big distinction, and one that its readers (including us) appreciate.
1Up.com
www.1up.com 
1Up.com is a sister site of PCMag.com, but screw the conflict of interest: It's the best gaming site on the Web. 1Up.com is overflowing with gaming news, plus expert and user reviews of games and hardware, and previews of the hottest upcoming titles.
PCMag.com
www.pcmag.com
The Web site for PC Magazine includes everything the magazine has built its name on: hands-on product reviews from our PC Magazine Labs, expert commentary, and breaking tech news. But the Web site also offers features that we can't stuff into a magazine, like our award-winning product guides, episodes of DL.TV and Cranky Geeks, PCMag Radio podcasts, our Security Watch blog, and so much more.
Phone Scoop
www.phonescoop.com 
With its breaking news coverage and in-depth reviews, Phone Scoop is one of the best and most comprehensive sources for mobile-tech info on the Web.
ProcessLibrary.com
www.processlibrary.com 
Need help deciphering the gobbledygook names of processes running on your PC? ProcessLibrary.com can help. Most of those processes will turn out to be innocuous, but others with similar-looking names could be nasty malware. For instance, nvcpl.exe is a malicious worm, while nvcplui.exe is an nVidia control-panel app. You may not be able to spot the difference from the process name, but ProcessLibrary.com
</A itxtvisited="1">can.
The Register
www.theregister.co.uk 
El Reg skewers the tech and IT industry with its perfect mix of in-depth news reporting and snark. And if you're having a bad day on the IT desk, perusing the brilliantly biting headlines on The Register's homepage will serve as the perfect pick-me-up.
Silicon Alley Insider
www.alleyinsider.com 
The Valley might have the smut of Valleywag and the ferocity of TechCrunch, but New York is all business. Luckily, the New York tech community has its own perfectly complementary blog in Silicon Alley Insider, which covers technology with a steely, Wall Street-informed approach.
Slashdot
www.slashdot.org 
"News for Nerds" indeed. After 11 years, this user-submitted-CmdrTaco-vetted-news site is still one of the best ways to keep a finger on the pulse of the tech community.
SourceForge.net
www.sourceforge.net 
SourceForge.net is the world's foremost repository of open-source software, and the site hosts a near-ridiculous amount of software downloads across many different categories. SourceForge.net also gives users access to the software's source coding, so you can follow along at home or even improve on what's there.
TechCrunch
www.techcrunch.com 
In the past couple of years, TechCrunch has grown from a not-so-humble tech blog to a media empire, complete with spin-off brands, events, and heady (but speculative) valuations. Why not get into hardware manufacturing too? It remains to be seen whether all the extra heft will add to the actual blog's appeal or sink it entirely, but so far, it looks like the former.
VersionTracker
www.versiontracker.com 
Looking for that one utility that can solve all your problems and make your whole life better? Sorry, it doesn't exist. But if you're okay with solving your problems piecemeal and improving your computing experience, go raid VersionTracker's incredible library of freeware utility downloads.
Wired
www.wired.com 
The Web site is just as multifaceted as the magazine, covering technology, gadgets, science, environmentalism, gaming, music, movies, politics—all with a cool look and a geeky slant.
How to create a Website for your Web Business? You will require various Web Business Solutions if you want to launch a Successful Web Business.
The following Article is from Stevepronger.com, Steve Pronger helps people to build a Successful Web Sites that are search engine friendly. Here is an Article by Steve Pronger.
Do You Really Need a Website Designer to Create a Website?
Are you confused about how to create an effective & affordable website for your small business?
Have you been searching for a small business website designer who understands that their job is not just to create a website, but to help you make money?
Would you like to build your own website... one that actually contributes to the bottom line of your small business?
Are you tired of listening to website designers and web hosting providers babble on about HTML, JavaScript, PERL, CGI and other techno mumbo jumbo?
Hey, you just want to create a website that delivers PROFITS, right?
Whether your business is located in Sydney or San Diego, New York or Dallas, Toronto or London, you need to create a website that gets results!
My name is Steve Pronger and I've been helping small business owners and Internet entrepreneurs world wide achieve online success. People just like you!
Create Your Own Small Business Website
And here's the thing... you don't actually need a website designer. That's right, you CAN do this yourself! With the tools and resources on Web Business Solutions I will show you how to create a website that will add value to your business. Not just a web presence, but a complete online marketing solution. You will learn how to:
research the market you are about to enter
find keywords that thousands of people world wide use to find your products or services
create a website that ranks highly in the search engines and delivers thousands of targeted visitors to your site
use affiliate marketing to build your own profitable web business, even if you don't have your own products or services to sell
promote your site online and offline
Where Do You Start?
On Web Business Solutions you will find tools, resources, articles, reviews and services to get your web business up and running. A great place to start is with my free guide: Put Your Business on the Web - the RIGHT Way!
You can download the guide as a PDF for easy printing or read online. No e-mail address or personal details required!
Start Your Own Online Business
Thinking of starting your own online business but don't know where to start? Perhaps you have your own products or services to sell. Or perhaps not. Did you know a website can make money without ever selling a thing?
Either way, I can show you how thousands of people around the world build profitable online businesses. It's not easy. It's not GRQ (Get Rich Quick). It doesn't involve schemes, scams, "recruiting" or "downlines". But it does involve passion (yours) and a willingness to learn, work hard and succeed.
Better Search Engine Ranking
A vital aspect of building a successful web business is mastering the search engines and achieving better search engine rankings.
You might have a great product or service, and a professional, high-converting website, but you'll be spinning your wheels if you don't get found!
SEO or Search Engine Optimisation isn't the great mystery that many would have you believe. It all comes down to creating unique and relevant content and delivering that content the way the search engines prefer.
As an SEO expert I'll help you understand search engine marketing such as hotel online marketing and hotel search engine optimisation. I'll also keep you up to date with SEO Google tips & techniques and other SEO resources.
Whether you're a plumber in Sydney or an Obstetrician like Dr Norman Blumenthal, SEO marketing can deliver improved rankings, conversions and revenues.
Web Design, SEO & Online Marketing Resources
My recommended SEO & web design resources is where you will find tools and resources that I have found to be beneficial in my own online business.
You will find resources that I have personally tested and show a positive return on investment. In other words, I use them and they work!
At my Web Business Solutions Blog you'll find news & views, tools & tips on Website builders, SEO and online marketing.
Build Your Own Website
While there are many great website designers and web design companies out there (and some not so great) almost all of them are focused on building you a great looking, perfectly functioning, standards compliant website, NOT helping you build an online business!
Why?
They forget about search engine visibility, traffic and converting visitors to customers. They help you create shopping carts and payment solutions but not how to get lots of targeted visitors to your site and get them to buy! Their job is to build you a website, not build your business.
Create a Website that Gets Results
Perhaps you've decided to create a website using an online website builder or WYSIWYG (What You See Is What You Get) website design software. These DIY website builders require no programming skills and are quick and easy to use. Unfortunately most of the sites built with them suffer the same affliction as those built by many web designers and web design companies. They produce a great looking website, but...
No Traffic - No Sales!
But, don't despair. I have some good news!
There are some website builders that I'm proud to use and recommend. Why?
They are based on the philosophy of building a business, not just a website
They have built-in traffic generating tools and Search Engine Optimization (SEO)
You do not need any programming skills to use them - no HTML coding required - no website designer or web development company required
You build and manage the site yourself - trust me, there is a great deal of satisfaction in building your own successful web business.
Useful Resources:
01) Business Web Solutions – Business Web Solutions will help you to build a successful website for your Business. You will find a great content on this site. From Simple Brochure sites to showcase your products to full e-commerce websites.
This Article is all about how to start a Successful Web Business? Starting a Web Business has so many advantages. One advantage is that very low start-up cost & a minimal man power required. Another great advantage is Global Income.
You don't need a lot of money to be successful in internet business, although it is not realistic to expect to do it for free. Even small, home-based internet businesses that can fill a niche can operate successfully and profitably. The number one mistake someone thinking of starting an online business can make is to think too broadly, and/or to try immediately to sell products to other people that teach them how to start an internet business. Ironically, many people with no knowledge whatsoever seem to think that they can teach others how to do what they, themselves, have not accomplished.
The Internet , e-marketing, and e-commerce can make a lot of money for you. You need to have a niche to fill, then design, buy, or represent as an affiliate a product or products to fill that niche.
This is the Information Age and I have seen many people around this world becoming Rich, Ultra-Rich in their twenties & early thirties. Many of them are living semi-retired or retired life. And I want you to do the same.
Useful Resources:
Both of the following are very useful & comprehensive resources to start a Web Business. The following Comprehensive guides will teach you “How to start a Web Business.”
01) From OnCallGeeks.com
Starting an Internet Business –>
Step 1: The Idea
Step 2: Legal Matters
Step 3: Your Domain Name
Step 4: Selecting a Web Host
Step 5: Designing a Website
Step 6: Marketing and Search Engines
Step 7: Interactive Websites
Step 8: Build a Customer Base
Step 9: Repeat Business
Step 10: Accounting and Taxes
02) From a-web-biz.com
1. A basic business plan
2. Finding website hosts
3. Accepting credit cards
4. Forming an LLC
4. Keyword identification
5. Finding a search engine optimization firm
6. Developing a product
7. E-commerce and sales letter guidelines
8. Using affiliate programs
9. A bonus business idea
10. Why use WYSIWYG HTML editors
11. Web page design tips
12. How to choose a good domain name
13. Web hosting businesses
14. Starting with a hosting reseller program
15. How to advertise your website
16. The philosophy that leads to success
17. Resources
18. Glossary
Because of the Recession & Economic down turn, people around this world are losing their job on the mass scale. And that’s why more and more people are turned towards starting their own Home Based Web Business also known as Home Based Internet Business. Right now Jobless people around this world are searching for Home Based Web Business Ideas.
Advantages of Starting a Home Based Web Business -
There are so many advantages of starting your own Home Based Web Business. One commonest advantage is it doesn’t require a huge Capital or huge Investments & Manpower to launch a Web Business. It just requires an Idea, Desire to be Rich & an Online Web Space…. And That's it… You can start your Web Business right away.
Another great advantage of starting your own Home based Web Business is - “Global Income”. Yes, The world is connected with the Internet. So Your Target Audience will be very huge in comparison to traditional brick and mortar business models. So your Income will also increase.
You can retire young & rich if you start a Home Based Web Business. I know several people around this world, who become rich, semi-retired or retired in their twenties or early thirties by developing a successful web Business. So you can also do the same.
A home based internet business offers many things for the individual who is serious about starting their own business. First off, it costs basically nothing to start. Other than the cost of a domain name and web hosting (less than 20 dollars a month), running a home based internet business is essentially free. Thus, if you have a computer and twenty bucks a month to spare for web hosting, you have all the equipment needed to start your own Internet home based business. You can even avoid the web hosting and domain name fees by using Site Build It.
What an home based internet business does require is time and effort. Developing a Internet home business requires little in the way of money but does require time and effort on the part of the web publisher (a web publisher is anyone who publishes content on a web page – I am a web publisher) to create quality content and a quality web site.
A Web Based Home Business is a business that you create by publishing content on a web page. The content that you publish on the web page is then used to sell products or services that are related to the content of your web site.
So, what kind of content can you publish on the Internet? Just about anything, that's what! The key is to simply find content that you are knowledgeable about and are interested in. Whether it be about fishing, hiking, photography or even quilting, by publishing your knowledge on the Internet, you have the capability to generate a nice, supplemental income.
Useful Reading:
Get valuable small business and home-based business information from PowerHomeBiz.com:
Home Business Blogs:
Resources for the Home-Based Entrepreneur
Learn from various home business blogs of PowerHomeBiz.com:
All of you know that, This is the Information Age & in the Information Age it is really easy to get rich quick. All you need to do is, Start your own Business. There are so many people around this world who become Rich, Ultra-rich in their twenties & early thirties. This Post is all about some amazing Web Business ideas that really works. By applying any one of the following Web Business Idea, you can get rich quicker than others in your life……!!!!!!!
Here is a list of some amazing Web Business Idea. Hope you will Like it….
01) Build a Webstore the Easy Way . . .
This is so easy everyone should do it. Join the ecommerce revolution in the next 15 minutes. You don't even need to have an existing website..
02) Virtual Consignment Shop . . .
Sell other folk's stuff. Pass the orders on to them for fulfillment and a healthy commission. This idea has incredible potential.
03) Develop a Niche Portal . . .
Become a gateway for those interested in a particular topic or industry. Great for selling targeted advertising.
04) Promote your Local Business Community . . .
All around you are businesses big and small that would pay to be included in a website about their community. You'll be a local hero!
05) Become a Web Designer . . .
Designers come in all flavours. You might not land a Sony or a IBM account but you can probably do better than many other "designers". (DesignStop.Com shows you the secret design weapons that make it easy to provide clients with "professional" results).
06) Become a Web Consultant . . .
Provide services to others with less experience than yourself or develop your own niche.
07) Develop Content / Sell Advertising. . .
Develop content in an area you already know something about, or that you'd like to know more about. Become a useful resource, promote it, and sell targeted advertising prior to being bought out by a content-feeding portal.
08) Be a Yearbook Developer . . .
This one is unique! Schools still pay big bucks to have yearbooks published - Instead you could develop a system where instead of books they get cool multimedia CD's. Sell your "system" to hundreds or thousands of schools and meet lots of cheerleaders.
09) Promote Favorite CD's, Books, or Games . . .
If Sir Robert Stigwood could successfully promote the BeeGees, then you can certainly promote your favorite band(s), author(s), or games. Amazon.com and others make it easy for you to cash in on promoting what you love most. It could be fun.
10) Develop Virtual Billboard System . . .
This is something different. Imagine if you will... you're in the Doctor's waiting room; In the corner is a monitor presenting a stream of targeted ads delivered cheaply over the internet. You place those monitors. You sell that advertising. You give a BILLION dollars to the UN.
11) Resell an Existing Product or Service . . .
All around you are businesses that have products or services that could easily be promoted & sold online but aren't. You could do it for them as their online dealer. The ball is in your court...
12) Become a Researcher . . .
Focus your web browsing on the needs of a particular business or agency and you might find there's a service to be sold to them
Additional Resources:
Here are few useful Links about amazing Web Business Ideas.
Ratan Tata’s Car Nano – People’s Car. Chairman of Tata Group Ratan Tata poses with the Tata 'Nano' car during the launch at the 9th Auto Expo in New Delhi on January 10, 2008. (Indiatimes)
Nano – Great things come in small sizes. Ratan Tata’s Car Nano will come in two variants - AC and non-AC at a dealer price of Rs 1 lakh plus VAT and transport charges. (Indiatimes)
Tata Nano is now launched commercially. You can book Tata Nano car from any branches of SBI (State Bank of India) & PNB (Punjab National Bank) across India.
Cameras started clicking as the Rs 1L beauty was unveiled at the Auto Expo in New Delhi. Ratan Tata’s Nano Car Rocks.
Ratan Tata’s Nano Car from behind.
Inside the Ratan Tata’s new Tata 'Nano' car.
Chairman of Tata Group Ratan Tata poses in front of the Tata 'Nano' car during the launch at the 9th Auto Expo in New Delhi on January 10 2008.
Ratan Tata’s new Tata 'Nano' car is pictured during the launch at the 9th Auto Expo in New Delhi on January 10 2008
Members of the media look at the newly launched Tata Nano car at the 9th Auto Expo in New Delhi on January 10 2008.
Tata's newly launched 'Nano' car is shown in a photo released by the Tata group during the 9th Auto Expo in New Delhi on January 10, 2008
Mediapersons photograph the newly unveiled Tata 'Nano' car at the 9th Auto Expo in New Delhi on January 10 2008
Tata Group Chairman Ratan Tata, third right, Tata Motors Ltd Managing Director Ravi Kant, second right, and other officials address the media at the launch of the Tata Nano at the 9th Auto Expo in New Delhi on January 10, 2008
Tata Group Chairman, Ratan Tata, poses with the company's new 'Nano' car during its launch at the 9th Auto Expo in New Delhi. The car, a hatchback with a 624cc engine, is priced at about Rs 100,000 ($2,500), half that of the current cheapest car in the market. (Reuters)
Standard version of 'Nano'- People's car by Tata Motors
In short Ratan Tata’s Nano Car Rocks……..!!!!!!!!!!!
Ratan Tata has given so many interviews in his life to so many people. This article is all about these interviews. This article is a Source of most popular interviews by Ratan Tata.
Here are few Most Popular Interviews of Ratan Tata.
01) Interview: Ratan Tata –> Changing India’s Corporate Culture on Accenture
02) Interview: Ratan Tata –> on Business World
A week after sealing the $12.1-billion Corus deal, Ratan Tata tells why he was willing to pay more for the acquisition. In an e-mail interview with BW’s Piya Singh, he discusses Tata Steel’s strategy to leverage the strengths of the combined entity and other integration challenges.
03) Interview: Ratan Tata –> on Rediff.com; We will see growth through Acquisitions
The group spans seven key sectors and has 80-odd companies in businesses as diverse as chemicals, engineering, steel, telecommunications and IT services.
In recent times, the group has acquired companies to expand its business portfolio. It acquired management control at Videsh Sanchar Nigam Ltd and CMC, when the government divested part of its equity in them.
Earlier, it acquired the UK-based company, Tetley, the tea company. Similarly, Tata Consultancy Services, a division of Tata Sons, is looking at acquiring IT companies overseas and Indian Hotels is said to be on the brink of making an announcement on an overseas hotels acquisition.
04) Interview: Ratan Tata –> Making of Nano on The Economic Times
Nearly 72 hours before the launch of his dream car, Tata Group chairman Ratan Tata spent 90 minutes with ET for a one-on-one on the making of the people's car. He shares the trials and tribulations he faced during the journey. Here is the full text of the interview.
05) Interview: Ratan Tata –> At Geneva 2009 on Overdrive.com
The above interview was given by Ratan Tata at Geneva 2009. And Published by Overdrive.com, India’s No. 1 Car & Bike Magazine.
06) Interview:Ratan Tata –> What’s Next for Tata Group on The McKinsey Quarterly
In this Interview, Ratan Tata explains how the company is expanding abroad while cultivating an emerging mass market at home.
Ratan Naval Tata (born December 28, 1937, in Surat) is the present Chairman of the Tata Group, India's largest conglomerate founded by Jamsedji Tata and consolidated and expanded by later generations of his family
Tata was born into the wealthy and famous Tata family of Mumbai. He was born to Soonoo and Naval Hormusji Tata. Ratan is the great grandson of Tata group founder Jamsetji Tata. Ratan's childhood was troubled, his parents separating in the mid-1940s, when he was about seven and his younger brother Jimmy was five. His mother moved out and both Ratan and his brother were raised by their grandmother Lady Navajbai.
Ratan Tata completed a BS degree in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975. He joined the Tata Group in December 1962, after turning down a job with IBM on the advice of JRD Tata. He was first sent to Jamshedpur to work at Tata Steel. He worked on the floor along with other blue-collar employees, shoveling limestone and handling the blast furnaces.Ratan Tata, a shy man, rarely features in the society glossies, has lived for years in a book-crammed, dog-filled bachelor flat in Mumbai's Colaba district.
Ratan Tata has never married so he does not have any children.
The above pic is by Subhabrata Das.
The above photo is taken from Business World.
In the above photograph, Ratan tata is with his two dogs. Tito & Tango.
Yes, Ratan Tata loves dogs. In the above photo, Ratan Tata is sitting on the garden bench with his two dogs Tito & Tango.
Both of the Ratan Tata’s Dogs are Alsatian.
Ratan Tata’s eight-year-old Alsatian Dog, for instance, is called Tito, perhaps a homage to the 20th century Croatian revolutionary of the same name who led an anti-fascist movement during World War II.
Since tata has two of them, what better name for the second one than Tango
The above is the rare photograph of Ratan Tata with his Dogs Tito & Tango.
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