30 Successful Small Business Ideas with Low Investment

Successful Small Business Ideas – Pat on the Back as you have decided to clock out from your 9 to 5 job to start your own business. Small or big any successful business starts with a good business idea. If you are a beginner and looking for small business ideas, your search ends here. In this post, I will share 30 Successful Small Business Ideas with Low Investment. These business ideas are low cost and easy to implement.

Make sure to select a business idea based on your education, field knowledge, and experience. Do not jump into business as it is in demand. Make a proper business plan and study all legal and commercial aspects before jumping to any unknown venture. Just complete your homework, select the best business idea and Work Hard in Silence Let Your Success Be your Noise. Now let’s quickly get started with 30 Successful Small Business Ideas with Low Investment.

Also Read – 200 Small Business Ideas in India with Low Investment

successful small business ideas

30 Successful Small Business Ideas with Low Investment

# Innovative Business Ideas

  1. Digital Consultancy

The first successful and innovative business idea is starting your own digital consultancy. The world is moving towards digital. Every small or big organization is spending money on digital initiatives. This makes digital consultancy successful business option. In this business, you need to provide consultancy about digital projects to various small and big organization. To start this business, you need to gain knowledge in technical areas such as IoT, Artificial Intelligence, machine learning, digital development platforms. It is a futuristic business with good potential.

  1. Go Green Products

Starting a business related to Go green product is next in the list of successful small business ideas. Conserving energy and protecting the environment is the need of an hour. In order to drive this initiative, many people are opting for Go Green products such as solar energy, solar products, biodegradable fuel, echo friendly bags, etc. You can either start trading in the mentioned product or plan to manufacture your own go green product.

  1. Mobile Auto Garage

Mobile Auto Garage is a small and innovative business idea. In a mobile auto garage, you need to send a mechanic with a mobile kit at a various location based on customer’s requirement. You can decide the area of operation. It is a very good business idea with very good potential. In a western country the concept of a mobile auto garage is very popular.

  1. Organic Farming

Organic Farming is next in the list of innovative small business ideas. Organic Farming is a process where the crop is produced naturally without using chemical-based pesticides and fertilizer. Under organic farming, there are multiple options such as organic dairy farm, livestock farm, organic fish farm, organic store, etc. Many people prefer organic food item. Thus, starting an organic farm business is a very good business option.

  1. Virtual Reality Accessories

Virtual Reality Accessories business is next in the list of an innovative business idea. Usage of virtual reality is growing like anything. VR is extensively used in gaming, entertainment, work collaboration, training, and virtual tours. If you have expertise in the VR area, especially for software development you can start this business.

  1. Children Play/Adventure Area

Children Play or Adventure Area is next in the list. Children love spending time at the creative play area or at a place where they can feel the adventure. If you have space and resources, you can design and open unique children play area. It is advisable to open children play area in a shopping mall or at a central place. Investment required for this business is moderate.

# Food related Successful Business Ideas

  1. Fast Food Shop

The first food-related business is a fast food shop. Today’s generation is fond of fast food. This makes fast food shop evergreen business option. Serving tasty and healthy food is the main requirement of this business. If you can fulfill this requirement you can get quick success. Investment required for this business is moderate.

  1. Diet Food Shop

Diet Food Shop is next in the list of successful small business ideas. The concept of dieting and healthy lifestyle is increasing. People have become health conscious and they are ready to spend money on health. Thus, starting a diet food shop is a very good business option. In this business, you need to sell diet food such as keto diet, low-calorie food, etc. Investment required for this business is moderate.

  1. Restaurant

Opening restaurant is an evergreen business idea. This business requires intensive investment and meticulous planning. In addition to this, you require a good chef for cooking food. The success ratio of this business is very high.

  1. Food Truck

A food truck is next in the list of successful small business ideas. Food truck means mobile van serving a customer on the move. This business can be started with low investment. The location of a food truck and tasty, healthy food served in the economical range are keys to succeed in this business.

Also Read – 90 Business Ideas with low investment

  1. Grocery Shop

Starting a grocery shop is the next successful business idea. A grocery shop is a place where you need to sell goods for daily needs. A location of grocery shop matters a lot, so you must be careful in selecting a place for a grocery shop. Grocery is volume business. You need to focus on increasing your volume sales.

# Home Based Successful Business Ideas

  1. Home-based chocolate making

The first home-based small business idea is chocolate making. Demand for chocolate will never end. If you love making chocolate make it your business. You need a chocolate recipe, utensils, cookware, molds and packing material to start this business. You need to tie up with shopping malls or small shop keepers to purchase your chocolate. Investment required for this business is very low.

  1. Tuition Class

Starting at Tuition Class is one of the best home-based business ideas. If you have good teaching skill and knowledge you can start this business. You just need a few wooden benches and blackboard for starting this business. At an initial stage, this business demands mouth publicity or advertisement.

  1. Network Marketing

Network Marketing is next in the list of home-based business ideas. Network marketing demands very good communication and convincing skills. In this business, you need to enroll yourself as a member of MLM company. Once you enroll, you need to start selling the product and services of MLM company. You will gain commission on every sell. Some company also provide money for the performance of your group. Make sure to select the best network marketing company.

  1. Beauty Parlor

Starting a beauty parlor is next small home-based business. This idea is suitable for women. Investment required for this business is very low. You need to undergo specific training course before starting this business. You can also start this business in part-time.

  1. Foreign Language Class

Foreign language class is next in the list of small home-based business ideas. To start this business, you need to gain expertise in a foreign language such as French, English, German etc. You may also employ an expert in this language. This idea requires a lot of marketing at an initial stage.

  1. Accounting Services

Accounting service is next on the list. A finance person with expertise in software can start account and recordkeeping business. In this business, you need to keep records of all financial business transactions. You can get fixed money for this. You will need special training for this business.

  1. Customized Gift Store

Customized Gift Store is next in the list of small business ideas. Nowadays people prefer customized gifts. If you are creative and make some unique gifts for a various occasion this business is for you. The investment required for this business is low.

# Low Investment Successful Business Ideas

  1. Insurance Agency

Buying insurance is one of the basic requirements of a human being. Insurance fellow always remains in demand. If you are an expert in communication and convincing skill you can plan to open an insurance agency. You need to enroll at various insurance companies to become an insurance agent.

  1. Real Estate Agent

Real estate agency is one of the highly successful business ideas. In this business, you need to help people in finding the right property for rent or sell. You can earn a hefty commission from every transaction. This business can be started with zero investment.

  1. Computer Repair

Computer repair is low investment successful business option. In this business, you need to repair computers and IT devices. You can start these services from home or from a rented shop.. You can work in the home as well as office segment. You need to take appropriate training in order to start computer repair work.

  1. Fitness Trainer

Fitness trainer is a profession by itself. A demand for fitness trainer is growing. If you are a certified fitness expert or trainer you can enter into this profession. Fitness trainer provides a trainer to an individual as well as a group of people. A success rate of this business is very high.

  1. Namkeen Snacks Making

The concept of Namkeen and snacks is growing. People are ready to spend money on Namkeen. If you are good at making namkeen and snacks you can start this business. You require a small shop for making and selling namkeen. You can plan to employ a cook for making namkeen. It is very successful and lucrative business option.

# Small Online Business Ideas

  1. Online Tutor

The first online business idea is online tutor. The task of online tutor is to provide tuition online. You can either make use of YouTube videos or SKYPE for online training. You can charge fixed money for every session. You can even make your own website to start teaching online.

  1. Blogging

Blogging is one of the best small online business ideas. In this business, you need to share knowledge and information about specific topic. You should select a topic as per your expertise. You need to invest money on domain name and hosting space. You can make money by placing advertisement on blog.

  1. YouTube Channel

YouTube Channel is one of the simplest yet lucrative business option. In this business, you need to start your own YouTube Channel and upload videos. Once your channel gain popularity you can apply for YouTube channel partner program. This program will help you to monetize your YouTube Channel.

  1. Affiliate Marketing

Affiliate marketing is one of the best online business idea. Many people are making lot of money via Affiliate marketing. Affiliate marketing means promoting others product on your website and help them to increase the sale. On every product sell, you will get a commission. You can promote product or services via e-mail marketing, whatsapp marketing, facebook marketing or via own website.

  1. Virtual Assistant

Virtual Assistant is the next online job or business option. There are many websites that offer the job of a virtual assistant. In this business, you need to assist people for completing their work. The work could be typing e-mail, sending and checking email, data entry etc. This idea requires a basic knowledge of computer.

  1. Online Store

Opening an online store is next successful small business idea. In this business, you need to host website with your own online store platform. You can use this platform for selling your own products or you can plan to extend service to other vendors. This business require moderate to high investment.

  1. Freelancer

Freelancing is a business which demands specific skills. Some examples are website designing, graphic designing, software development, mobile app development, SEO etc. If you have knowledge and expertise in this area you can start freelancer business.

Over to you –

I hope above business ideas are useful to you. Do help me by sharing your business ideas. This will help me in growing the list of 30 Successful Small Business Ideas.

Do share these ideas with your friends on Facebook and Twitter.

Remember- To be successful in business, you have to have your heart in your business, and your business in your heart.

10 Best Bank for Home Loan in India 2019

Home Loan is financial assistance provided by bank or NFBC to fulfill your dream of buying your own home. If you are planning to avail home loan, you will find this post interesting. In this post, I will share information about 10 Best Bank for Home Loan in India.

Firstly, I will share factors that I have considered to select Best Bank for Home Loan in India.

Also Read – Second Home Loan Tax Implication and Benefit

Factors for selection of Best Bank for Home Loan

Interest Rate – First important factor for consideration while availing home loan is Interest rate. You should opt for the bank offering lowest rate of interest. A small difference in interest rate makes a huge difference in interest payment.

Processing Fees – The second important factor is processing fee. The fees are of two types some bank charges fixed fees, while other charges percentage of the loan value as processing fee. You should consider bank offering lowest processing fees.

Loan to Value Ratio – Loan to Value Ratio is another important factor. This ratio indicates how much finance bank is ready to offer against your property value. The ratio varies from 75% to 90%.

Principal Component in EMI – The principal component in EMI plays a crucial role in deciding best home loan providers. Most of the public-sector banks keep principal component as 45% of the EMI. In some banks interest component is bigger than the principal amount. You should select a bank with a higher principal component in EMI.

Prepayment Charges – Another important factor for consideration is prepayment charges. Some bank imposes prepayment charges if prepayment is made during loan starting year.

Loan Processing Time – It is difficult to find out loan processing time. However, from end user feedback you to avail this information. Some Banks provide this information on bank’s website.

Quick sanction and Disbursal Process – You should also consider bank based on disbursal process. Check and confirm the turnaround time of the shortlisted banks for disbursal. I recommend opting for bank which is transparent, quick and approachable.

Customer Support – Another important factor to consider is customer support facility offered by the bank. Customer support plays crucial role after disbursal of home loan.

Online Facility – The bank should provide online facility where customer can see loan balance, rate change, annual statement etc.

Special Scheme/Offers – You can give priority to a bank or financial institution for a special scheme or offers provided by them. However, it is recommended to study the offer carefully before opting.

Also Read – NRI Home Loan – Document and Checklist

 In nutshell, I recommend considering following points while selecting best bank for Home Loan.

  • Interest Rate
  • Processing Fees
  • Loan to Value Ratio
  • Principal Component in EMI
  • Prepayment Charges
  • Loan Processing Time
  • Quick sanction and Disbursal Process
  • Customer Support
  • Online Facility
  • Special Scheme/Offers

10 Best Bank for Home Loan in India

#1 HDFC Home Loan

HDFC Home Loan is first in the list of best bank for home loan in India. HDFC is very stringent in document verification. The interest offered by HDFC bank is competitive. HDFC provide loan for new house purchase, house construction, home improvement and home extension. Key Features of HDFC Home Loan are given below.

  • HDFC offers fixed, floating and TruFixed types of home loan.
  • HDFC offers Step Up Repayment Facility (SURF). In this facility repayment is scheduled as per expected growth in your income.
  • HDFC also provide facility of Flexible Loan Instalment Plan (FLIP). In FLIP EMI is higher during the initial years and it decreases in proportion to income.
  • You will also get Accelerated Repayment Scheme where you can increase the EMI as per your convenience to repay loan faster.
  • TruFixed Loan where interest rate is fixed for first two years.
Interest Rate8.75 – 9.25% up to 30 Lakh
Processing Fee0.50% of Loan amount or Rs.3000 whichever is higher
Maximum Tenure30 Years
Pre-Closure ChargesNIL if paid from own sources
LTV90% of Property Cost up to 30 Lakh

80% of Property Cost from 30 Lakh to 75 Lakh

75% of Property Cost above 75 Lakh

Prepayment ChargesNIL

Transparency in charges, good customer support service and multiple repayment options are few positive points about HDFC Home Loan.

#2 State Bank of India Home Loan

State Bank of India is next in the list of best bank for home loan. SBI offers home loan for house purchase, reconstruction, home renovation as well as top up loan. SBI interest rate is lower compared to other banks. However, you need to go through tedious documentation procedure. SBI has very strict guideline in terms of documentation and verification of property papers. Key features offered by SBI are given below.

  • SBI offers unique scheme called as SBI MAXGAIN. Under SBI MAXGAIN loan will be given as overdraft.
  • SBI provide loan at daily reducing balance. This means your interest outgo will be less.
  • SBI also offers Flexipay Home loan. EMI in this loan will be increasing with loan year.
  • SBI allows you to apply for subsidy under PMAY scheme
Interest Rate8.65 – 8.75% up to 30 Lakh
Processing Fee0.35% of Loan amount or Minimum Rs.2000 + GST
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV90% for loan amount up to 20 Lakh

80% for loan amount above 20 Lakh

Prepayment ChargesNIL

SBI offers lowest interest rate with daily reducing balance. Approval process under SBI home loan is slow.

#3 ICICI Home Loan

ICICI Home Loan is known for simplify documentation, speed in approval and competitive interest rate. ICICI bank offers loan up to 5 Cr. They offers loan for purchase of new house, reconstruction and top up. Key features of ICICI Bank Home Loan are given below.

  • You can apply for home loan using tablet or smartphone and get faster approval.
  • ICICI Bank offers online calculator facility this facility will help you in knowing your eligibility.
  • ICICI Bank also provide balance transfer facility.
  • ICICI Bank allows you to apply for subsidy under PMAY.
  • Customer Care offered by ICICI bank is very good.
Interest Rate8.20 – 11.35% up to 30 Lakh
Processing Fee0.5%-1% of the loan amount
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV90% for loan value less than Rs. 20 lakhs

80% for loan value more than 20 lakhs

75% for loans above Rs. 75 lakhs

Prepayment Charges NIL (Min prepayment should be equal to one EMI)

Quick processing of home loan, door step services are positive side of ICICI Home Loan. However, you need to pay higher processing fee and interest rate.

#4 Axis Bank Home Loan

Axis Bank Home Loan is next in the list of Best Home Loan. Axis Bank offers home loan for purchase, construction as well as top up loan. Minimum amount offered by this bank is 3 Lakh. Key Features associated with Axis Bank Home Loan are given below.

  • Minimum Loan amount 3 Lakh.
  • Fast forward home loan facility where you can increase EMI and also stop paying EMI for few months.
  • No Prepayment charges and attractive interest rate.
Interest Rate8.90 – 9.10%
Processing Fee1% of the loan amount (Minimum Rs.10,000)
Maximum Tenure30 Years
Pre-Closure ChargesNIL for floating rate & 2% for fixed-rate loans
LTV90% for loan value less than Rs. 20 lakhs

80% for loan value more than 20 lakhs

75% for loans above Rs. 75 lakhs

Prepayment Charges 2% for fixed-rate loans

Interest rate of Axis bank is competitive. However, you need to pay higher processing fee and other charges to avail this loan.

#5 LIC Housing Finance Home Loan

LIC Housing Finance Home Loan is next in the list. LIC Housing Loan offers loan for purchase of new house, reconstruction, renovation and top up loan. The interest rate under LICHF is calculated  on monthly reducing basis. You will not get fixed interest rate loan in LIC housing finance.

Interest Rate8.70 – 9.05%
Processing Fee0.5% of the loan amount (Minimum Rs.10,000)
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV85% for loan value up to Rs. 20 lakhs

80% for loan above 20 lakh and up to 75 lakhs

75% for loans above Rs. 75 lakhs

Prepayment ChargesNIL

LIC Housing Finance offer home loan at competitive interest rate. However, entire process is manual and it takes lot of time.

#6 Indiabulls Home Loan

Indiabulls is housing finance company. Indiabulls offers loan for house purchase, construction, home improvement, top up and extension loan. Indiabulls offers unique loan called as “Fixed and Floating Rate Loans”. The interest rate is calculated with monthly reducing balance. Key features of Indiabulls Home Loan are given below.

  • Indiabulls Home Loan provides eHome Loan facility, where you can apply for home loan online.
  • Complete process for eHome Loan is online. No physical visit is required at branch.
  • Fixed Floating Rate – Dual rate loan is another unique feature of Indiabulls Home Loan.
Interest Rate8.80 – 11%
Processing Fee0.5-1% for loan amount 30 lakh Rs.10,000 for other loans
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV90% for loan value less than Rs. 30 lakhs

80% for loan value of more than 30 lakhs

Prepayment ChargesNIL

Indiabulls is beneficial for people who don’t want to spend their time in visiting branch for loan. Slow processing for application and higher processing fee are disadvantage of Indiabulls Home Loan.

#7 PNB Housing Finance

PNB Housing Finance provide extensive range of home loan products such as Home Purchase Loan, Construction Loans, Home Extension Loan, Home Improvement Loan and Plot Loans.

Interest Rate8.99 – 11.5%
Processing Fee0.35% for loan amount
Maximum Tenure30 Years
Pre-Closure ChargesNIL for floating rate loans
LTV90% for loan value less than Rs. 30 lakhs

80% for loan value of more than 30 lakhs.

Prepayment ChargesNIL

#8 Dewan Housing Finance Limited

Dewan Housing Finance is housing finance company offering wide range of home loan including home improvement and renovation. DHFL approval time and disbursal time for home loan is very fast. The property verification process of DHFL is relaxed.

Interest Rate9 – 11%
Processing FeeVary from Rs.5000 to Rs.20000
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV90% for loan value less than Rs. 20 lakhs

80% for loan value of more than 20 lakhs.

Prepayment ChargesPart repayment not allowed for 6 months

#9 Bank of Baroda Home Loan

Bank of Baroda offers home loan at very competitive rates. Bank of Baroda offers various types of home loan such as home improvement loan, home suvidha personal loan, Baroda Top up loan etc. Interest rate and other features associated with BOB home loan are given below.

Interest Rate8.65 – 11.25%
Processing FeeFixed rate of Rs.7500
Maximum Tenure30 Years
Pre-Closure ChargesNIL
LTV90% for loan value less than Rs. 30 lakhs

80% for loan value of more than 30 lakhs

Prepayment ChargesNIL

#10 Aditya Birla Capital Home Loan

Aditya Birla Capital Home Loan is next in the list of best home loan list. Aditya Birla Capital Home Loan is popular for faster processing and lower interest rates. They also offers door step service for the people. Interest rate and other features of Aditya Birla Capital Home Loan are given below.

Interest Rate9 – 12.5%
Processing FeeRs.5000 to Rs.10000
Maximum Tenure30 Years
Pre-Closure ChargesNIL for floating rate loans
LTV90% for loan value less than Rs. 30 lakhs

80% for loan value between 30 lakhs – 75 lakhs

75% for loan value above Rs. 75 lakhs

Prepayment ChargesNIL

Frequently Asked Questions about Home Loan

Why new customer is offered with lower interest rate compare to existing?

I have taken home loan from the bank before 3 years.  At present bank is charging me 11.5% interest rate. However, a bank is offering a new home loan with much lower interest rate 9.40% to new the customer. Why existing customer like me are charged with higher interest rate? This is a very common question. Answer of this question is quite simple. Bank is offering a home loan based on current applicable interest rate. The interest rate is variable and depends on multiple factors.

First, let us understand how bank decides home loan lending rate. As per new system introduced in April 2016 by RBI, all banks are using MCLR for a lending fund. MCLR is Marginal Cost of Funds based Lending Rate.

The calculation of MCLR depends on multiple factors like –

  • Marginal cost of funds
  • Operational Cost of banks
  • Cost incurred in managing CRR with RBI
  • Spread or Margin

As multiple variable factors are involved while calculating interest rate you will find a difference in Interest rate offered by various banks.

Home loan Interest rate = MCLR + Spread

So, if a bank has MCLR of 9.15% and spread of 0.25% the bank will offer home loan @9.4%.

The bank is offering lower interest rate to the new customer because MCLR or spread is changed or reduced.

Why Bank take conversation fees to reduce home loan interest?

You can reduce your home loan interest rate by paying conversation fees to the bank. By paying this fees you can convert your existing adjustable rate to current adjustable rate. Bank will take conversation fees to fulfill gap of change in the spread.

You should avail this offer only if you have large outstanding loan balance or long tenure left for the repayment of a home loan.

Why reduction in outstanding is very low during the starting period of home loan?

If you carefully observe your home loan statement you will be surprised to note that reduction in outstanding will be very low during the starting period. This is because interest component will be very high at the initial stage. Interest amount will be calculated on the whole amount during the initial stage. In first five years, only a few percentage of EMI will go towards paying the principal.  So, your principal will reduce at a lower rate.

Why you should make prepayment of Home Loan?

You should make maximum prepayment at the initial stage. The prepayment at initial stage helps to reduce the amount payable towards interest. A reduction in the amount paid towards interest means saving of money.

Over to you

Have you taken a Home loan from the bank or institution mentioned above?

Do share your experience in the comment section given below.

10 Best SBI Credit Card in India

State Bank of India is the most popular public sector bank in India. In addition to fulfilling banking needs, it also offers multiple credit card options to the customers. From basic to exclusive for every requirement SBI offers a unique credit card. If you are planning for SBI credit card here is complete information about Best SBI Credit Card in India.

The SBI credit cards shortlisted below are based on eligibility criteria, features, benefits, ongoing offers, renewal fees, a utility of card etc. So, let’s get started with list of 10 Best SBI Credit Card in India.

Also Read – 10 Best Credit Cards in India To Save Money 2019 – Latest Review

For Better understanding, I have divided SBI credit cards into following categories.

# Best SBI Credit Cards for Shopping

# Best SBI Credit Cards for Saving Money

# Best SBI Credit Cards for Travel

# Best SBI Credit Card for Fuel

# Best Premium SBI Credit Cards for Business & Lifestyle

SBI Credit Card

10 Best SBI Credit Card in India

# Best SBI Credit Card for Shopping

1 SBI SimplyCLICK

SBI SimplyCLICK is one of the best credit cards for online shopping. This card offers multiple benefits for online shopping. Here are key features of SBI SimplyCLICK.

  • You can get Welcome benefit in the form of an e-Gift voucher from Amazon worth Rs. 500.
  • SBI SimplyCLICK offers 10x rewards while shopping with exclusive partners like Amazon, BookMyShow, Cleartrip, Foodpanda, Lenskart, OLA, Zoomcar and more
  • You can get 5x rewards on all other online spends.
  • This card offers milestone-based rewards. You can get e-voucher worth Rs.2000 on spending 1 Lakh or above
  • Earn 1 Reward Points on every Rs. 100 spent
  • If you spend Rs. 1 Lakh in a year, your annual fee will be reversed in the subsequent year
  • It is a contactless card that provides additional security

Joining Fees – Rs.499

Annual Fees – Rs.499

If you are an online geek and fond of doing online shopping, you can use SBI SimplyCLICK credit card.

2 SBI SimplySAVE Advantage

SBI SimplySAVE Advantage is next in the list of Best SBI Credit Card for shopping. This card offers ample benefits and rewards. Key features associated with SBI SimplySAVE are given below.

  • 10 Reward points per Rs.100 spent on Dining, Movies, Departmental Stores and Grocery Spends.
  • Earn 1 Reward point on every Rs.100 that you spend using SBI SimplySave Card.
  • Freedom from paying 1% fuel surcharge at any petrol pump.
  • This card offer spend base reversal. If you have spent Rs.100000 or more using this card your annual fee will be waived off.
  • This card also offers cash on the go facility.

Joining Fees – Rs.499

Annual Fees – Rs.499

If you want to save money on shopping as well as entertainment and fuel you can use SBI SimplySAVE card.

# Best SBI Credit Card for Saving Money

3 SBI Card PRIME

SBI Card PRIME is exclusive card for exclusive rewards. If you have higher spend limit you can use SBI PRIME Card. Key Features of this card are given below.

  • Welcome e-gift voucher of Rs.3000 from selected brands.
  • Get 20 Reward Points per Rs. 100 spent on standing instructions of Utility Bills payments
  • Get 15 Reward Points per Rs. 100 spent on BigBasket
  • Get 10 Reward Points per Rs.100 spent on Dining, Groceries, Departmental stores and Movies
  • Waiver of Renewal Fee on Annual Spend of Rs.3 Lakhs.
  • Complimentary Fraud Liability cover worth Rs.1 Lakh.
  • Enjoy Complimentary Club Vistara Silver Membership.

Joining Fees – Rs.2999

Annual Fees – Rs.2999

4 SBI Card Unnati

SBI Card Unnati is one of the best credit card for saving money. This card is Zero Fee card for first four year. It is best credit card for salaried person. Key Features of SBI Card Unnati are given below.

  • SBI Card Unnati is Zero Fee Card for first 4 years.
  • You can get 1 Reward Point per Rs.100 Spent.
  • 500 cashback on spends of Rs.50000 or more in a year.
  • 1% fuel surcharge waiver for each transaction between Rs.500 to Rs.3000.
  • Fixed deposit worth Rs.25000 or above is required to get this card.
  • It is contactless card.

Annual Fees – NIL (First 4 years)

Renewal Fee – Rs.499 

# Best SBI Credit Card for Travel

5 Yatra SBI Card

SBI Yatra Card is best card for frequent traveller. This card comes with following benefits.

  • Get Yatra.com voucher worth Rs.8250 on Joining.
  • 1000 off on domestic flight bookings
  • 4000 off on international flight bookings
  • Get 20% discount on domestic hotel booking.
  • Complimentary Air Accident cover of Rs.50 Lakh.
  • 1% fuel surcharge waiver for all petrol pump in India.
  • Get 2 complimentary domestic airport lounge access per calendar quarter

Annual Fees – Rs.499

Renewal Fee – Rs.499

6 IRCTC SBI Platinum Credit Card

IRCTC SBI Platinum Credit Card is best card for train traveller. This card offers plethora of benefits on train travel. Key Features of IRCTC SBI Platinum Credit Card are given below.

  • Get 350 bonus reward points on single transaction of Rs.500 or above within 45 days of card issual.
  • Buy Train ticket using this card on IRCTC and get 10% valueback as Reward Points.
  • Save 1.8% transaction charges on railway ticket booking.
  • Freedom from paying 1% fuel surcharge waiver.
  • Get 1 Reward Point for every Rs.125 spent on non-fuel retail purchase

Annual Fees – Rs.500

Renewal Fee – Rs.300

# Best SBI Credit Card for Fuel

7 BPCL SBI Card

BPCL SBI Credit Card is one of the best credit card for fuel. This card helps you in saving money on fuel. Key features associated with BPCL SBI Card are given below.

  • Get 2,000 Activation Bonus Reward Points worth Rs. 500 on payment of joining fee
  • 13X Reward Points on fuel purchases at BPCL petrol pumps
  • 25% + 1% Fuel surcharge waiver on every transaction upto Rs.4,000
  • 5X Reward Points on every Rs. 100 spent at Groceries, Departmental stores, Movies & Dining.
  • 5X Reward Points per Rs. 100 spent on standing instructions of Utility Bills payments.

Annual Fees – Rs.499

Renewal Fee – Rs.499 

# Best Premium SBI Credit Card for Business & Lifestyle

8 SBI Card ELITE

SBI Card ELITE is premium SBI Credit Card for Business & Lifestyle. This card is loaded with multiple benefits. The benefit associated with SBI ELITE card are given below.

  • Welcome gift voucher worth ₹ 5,000 that can be used at any one of the partner brands. The partner brands are: Yatra, Hush Puppies/Bata, Marks & Spencer, Pantaloons and Shoppers Stop.
  • Concierge Services that provide assistance with gift delivery, customized holiday packages, movie and hotel reservations.
  • SBI Card Elite credit card Foreign Currency Mark-up Charge is 1.99%. This is the lowest Foreign Currency Mark-up Charge.
  • Users get complimentary Trident Privilege Red Tier membership along with 1,000 Welcome Points on registration.
  • Users get complimentary Club Vistara Silver Membership along with 1 complimentary lounge access voucher and 1 upgrade voucher. They also earn 9 club Vistara Points per ₹ 100 spent on Vistara flights.
  • SBI Card Elite also offers 2 International Lounge visits quarterly through Priority Pass Program.
  • Users also get 2 Domestic Lounge visits quarterly.

Annual Fees – Rs.4999

Renewal Fee – Rs.4999

9 Central SBI Select Plus Card

Central SBI Select Plus Card is one of the premium segment credit card. Benefits offered by this card are given below.

  • Central e-gift vouchers worth Rs. 3000
  • 20 Select Points for every Rs. 100 spent any Central store
  • Select Points for every Rs. 100 on Dining  & Movies
  • Renewal and Milestone Select points
  • Contactless card with additional security

Annual Fees – Rs.2999

Renewal Fee – Rs.2999 

10 SBI Platinum Corporate Card

SBI Platinum Corporate Card is best SBI card for business. This card is also suggested for global traveller. Benefits associated SBI Platinum Corporate Card are given below.

  • Smart Expense Management system for tracking and controlling organization expenses
  • Dashboard for real time expense management
  • Complimentary insurance coverage with card
  • Global Acceptance including 3 million outlets
  • Multilayer spend control
  • Emergency Card Replacement & Cash Disbursement

Joining Fee – NIL

Annual Fee – NIL 

Conclusion – SBI offers wide range of credit card for every need. You can avail SBI credit cards for various requirement. You should compare features and fees applicable before opting for credit card.

For more information visit – sbicard.com

Technical Analysis of Stocks Basic with Example

Technical Analysis and Fundamental Analysis are two widely used terminology in the stock market. Technical Analysis is generally used by the trader whereas fundamental analysis is used by the investor. Technical Analysis helps you in deciding entry, exit and risk perspective associated with specific stocks.

The intent of a person plays a crucial role in deciding the type of analysis used for buying a stock or product. For example, when you are planning to purchase property for long term for your own living you will look at multiple factors such as location, type, area, reputation of builder, quality of construction, etc. It is as good as fundamental analysis. However, if you are buying property for short term for the investment you will look at supply, demand, and price benefit analysis for the short term. This is as good as technical analysis.

If you are a beginner in the stock market and want to understand more about technical analysis, continue reading. In this post, you will get basic information about Technical analysis along with examples and charts.

Also Read – Technical Analysis for Buying and Selling Stock

What is Technical Analysis?

Technical analysis (TA) is a method of predicting the stock price based on the historic market data, supply, and demand. The market data includes share price movement, volume, chart pattern, etc. In layman terms, the best analogy of technical analysis would be weather forecasting. Weather forecasting is a method of forecasting weather condition, whereas technical analysis is a method of predicting stock price condition.

Technical Analysis is done based on price and volume. This analysis is done on the charts. This type of analysis is used for short term trading. TA is somewhat superficial and it depends on stock chart and price movement.

What is Fundamental Analysis?

Fundamental Analysis (FA) is a method to identify the fundamental (intrinsic) value of the stock. Fundamental analysis is done by collecting financial statement and doing research over data such as revenue, expense, growth prospects, etc.

Fundamental analysis is done based on Quantitative and Qualitative factors. The data used for this analysis is financial statements. This type of analysis is used for long term investing. FA is more in-depth as an investment is done for a longer duration.

Also Read – Technical Analysis or Fundamental Analysis – Which is better?

Technical Analysis vs Fundamental Analysis

technical analysis vs fundamental analysis of stocks

Points to consider before using Technical Analysis of Stocks

Before making actual use of technical analysis you need to consider following factors.

Short Term Trades – This technique is used for short term trades only. Don’t try to use this method to identify stock for long term.

Return per trade – You cannot gain huge money by means of using TA. It is a method to gain small and consistent profits by frequent trading.

Holding period – Holding period in this case would be from few minutes, few hours or few weeks. It does not stretch beyond this.

Risk – Risk associated with TA is very high. TA works on prediction based on past performance and charts. You may end up making losses if method is not used effectively.

How to do Technical Analysis of Stocks?

First of all, let me clarify that TA is a very vast subject and cannot be covered in a single article. The information given here is for beginner or learner and not for an expert.

The first step for doing TA is the identification of stock. This process is also known as stock screening. The second step is chart scanning and the third is a trade setup. In the stock screening, you need to consider various factors such as volume, price, movement etc. The air of stock screening is quickly shorting out few stock candidates from thousands of stocks. Later stage these few stocks are converted into three or four stocks by scanning the charts. Finally, details chart analysis is done of the stock you are planning to trade. You can use various stock screener in order to perform analysis. So, the steps involved in doing TA are given below.

  1. Stock Screening – It is a process of identifying a few stocks for trading. You need to choose various technical indicators in order to do a screening. This includes sector, 52 weeks high, 52 weeks low, market cap, moving average, returns, active volume trade etc. You can create a watch list for a few days and take the appropriate decision about shortlisting.
  2. Chart Scanning – Once you shortlist the stock you need to do charting and understand various patterns. The charting is done using various screener and online websites. You need to select various factors and you can get a chart on your screen. Some website also offers readymade service of providing charting. Most of them are paid.
  3. Trade Setup – Once you are done with steps given above you need to set up a trade. If you don’t have a trading account you can open a new trading account. Make sure to open an account where a trading fee is low.

Also Read – 5 Technical Screener Websites for Technical Analysis in India

How to use charts for Technical Analysis of Stocks?

There are multiple charts and pattern involved while doing TA of stocks. In this post, I will share information about three widely used charts.

#1. Line Chart

Line chart is plotted by joining closing prices of any stock or index. They can be prepared by checking closing prices on monthly, weekly and even hourly basis. A dot is placed for each closing price and the various dots are then connected by a line. The line chart is used for observing trade. This chart is prepared by considering only closing price and does not take into account open, high and low. Example of a Line chart is given below.

line chart technical analysis

#2. Bar Chart

The bar chart is a slightly improved version of the line chart. This chart considers high, low, open and close. Instead of dots here bars are used for drawing chart. This bar has three components. The central line for indicating high and low. Left tick mark and right tick mark to show open and close. Example of one bar chart is given below. The complexity in this chart is higher.

bar chart technical analysis

#3 Candlestick Chart

The candlestick chart uses famous Japanese Candlestick Charting Techniques. This technique is famous among many traders. In bar chart, we have seen that open and the close prices are shown by a tick on the left and the right sides of the bar respectively, however, in a candlestick the open and close prices are displayed by a rectangular body – Candle.

In a candlestick chart, candles can be classified as a bullish or bearish candle usually represented by blue/green/white and red/black candles respectively. The colour of the candle can be customized. The candlestick chart shows bullishness, bearishness as well as buying and selling activity. It gives more information compared to the line chart and bar chart. You can visualize between all parameters and take an appropriate decision. The example of a candlestick chart is given below.

candlestick chart technical analysis

 

Best Sources to Learn Technical Analysis

  • Read Good Books
  • Read Articles and Blogs
  • Follow Good Traders
  • Join Course for learning TA

Over to You

I hope you have got some basic understanding of TA after going through the above article. Please note that the information given above is based on my knowledge and collected from various books and course material. The information given above is only for knowledge sharing purpose. Make sure to get expertise before doing trading in the stock market.

10 Best Banks for Education Loan in India

One of the simplest ways to finance education is by opting for education loan. An education loan can be taken for higher education in India as well as abroad. It’s a known fact that the cost of education is skyrocketing. If you have not saved enough money, education loans can come to your rescue.

An education loan is given to the students. In case of unemployed students, their parents or guardian needs to become a guarantor to avail this loan. Almost every bank and financial institutions offers education loan. Students and parents always get confused in making a selection of best banks for education loan. In order to help them, I am herewith a list of “10 Best Banks for Education Loan in India”.

Also Read – Education Loan or Student Loan for Higher Studies in India and Abroad

First of all, we will take a look at the general criteria for education loan in India.

  • Your age must be between 18 years to 35 years and must have a co-applicant.
  • Loan period is for 7 years for all types of professional, graduate and post-graduate cost including engineering and medical. Only accredited course from recognized universities is eligible.
  • The loan amount may include other fees like tuition fee, hostel fee, books etc.
  • Repayment of the loan can be done via post-dated cheque or via electronic NEFT way.
  • The best banks for education loans offer an additional period of 6 months after completion of course, during this period no payment toward principal amount is required.
  • No security collateral required for loans up to 4 lakhs, for loans of larger amount collateral or third party guarantor required.

After taking a look at general criteria let’s take a look at best education loans in India offered by top loan providers.

Best Banks for Education Loan

10 Best Banks for Education Loan in India

For better understanding, I have divided education loans in the following categories.

# Best Banks for Education Loan in India

# Best Banks for Education Loan in India for Abroad Studies

# Best Banks for Education Loan in India for Small Courses

# Best Banks for Education Loan in India for Higher Studies School

# Best Banks for Education Loan in India

HDFC Bank

HDFC Bank is one of the best banks for education loan in India. HDFC Bank offers maximum 10 Lakh loan for studies in India. HDFC bank also offers education loan for foreign education. It provides quick and easy disbursal. The key features of HDFC Bank education loan offered for studies in India are given below.

Key Features of HDFC Bank Education Loan –

  • Maximum Loan up to 10 Lakh.
  • No security deposit up to 4 Lakh. Above 7.5 Lakh collateral is required.
  • Maximum tenure up to 10 years for loan up to 7.5 Lakh.
  • Doorstep service for quick and easy disbursal.
  • The interest rate in the range of 9.3% to 13.89%

HDFC Bank offers a lower interest rate and offers quick processing. Few negative points about HDFC Bank education loan is a higher processing fee, hidden charges and lower loan amount for higher studies in India.

Axis Bank

Axis Bank is next in the list of best banks for education loan in India. Axis Bank offers a maximum loan up to 75 Lakh in India or Abroad. You can also avail Central government interest subsidy for economically weaker section by applying in this bank. Key Features of Axis Bank Education Loan are given below.

Key Features of Axis Bank Education Loan –

  • Maximum Loan Amount up to 75 Lakh.
  • The loan will cover tuition fees, hostel charges, cost of books etc.
  • No guarantor required for the loan amount up to 4 Lakh.
  • The Interest rate for the loan amount up to 4 Lakh is 15.2%. For loan amount, up to 7.5 Lakh interest is 14.7%
  • You can apply for a central subsidy scheme and avail benefits.

The higher loan amount for the study is one of the plus points about Axis Bank Education Loan. However, the interest rate applicable for education loan in axis bank is slightly higher.

Vijaya Bank

Vijaya Bank which is recently merged to Bank of Baroda also offers education loan for studies in India and abroad. The repayment tenure here varies from 7 years to 15 years. Other key features of Vijaya Bank Education loan are given below.

  • The maximum loan amount offered for study in India is 10 Lakh. For Abroad studies bank offers loan up to 20 Lakh.
  • The repayment period for loan amount up to 7.5 Lakh is 10 year and for the loan amount above 7.5 Lakh repayment period is up to 15 years.
  • Interest rate varies from 10.90% to 12.25%.
  • No guarantor required for the loan amount up to 4 Lakh.

Vijaya Bank is a trusted public sector bank. This bank offers education loan at lucrative interest rates. Loan tenure is also long. However, the maximum loan amount offered is less compared to other banks.

# Best Banks for Education Loan in India for Abroad Studies

State Bank of India

State Bank of India is one of the best banks providing education loan for abroad studies. You can get a maximum 20 Lakh loan for higher education abroad. The education loan of SBI covers vast educational expenses including travel expense. Key Features of SBI Education Loan are given below.

Key Features of SBI Education Loan –

  • Maximum Loan amount up to 20 Lakh for education abroad.
  • Repayment period of the loan is up to 15 years.
  • Only parents or guardian act as guarantor for loan amount up to 7.5 Lakh
  • Interest rate is in the range of 10.55% to 10.80%.
  • Wide range of course & expense coverage.
  • SBI also offer take over education loan where the loan amount is up to 1.5 Cr.
  • Processing fee in case of SBI student loan is NIL.

SBI is a trusted name and they offer student loan at a very low-interest rate. In addition to a Student loan, they also offer Scholar Loan scheme, Skill loan scheme etc.

ICICI Bank

ICICI Bank is a leading private sector bank offering education loan in India. Maximum loan offered by ICICI bank is 1 Crore. The loan will be collateral-free up to 40 Lakh for selected institutes. The Key features of ICICI Bank education loan are given below.

Key Features of ICICI Bank Education Loan

  • Maximum Loan amount up to 1 Cr.
  • Zero Processing fees.
  • Repayment only after six months of course completion.
  • No restriction on pre-payment or part payment.
  • Additional expense such as travel expense, a laptop is covered.
  • Pre-visa disbursal facility.
  • Interest rate 11.5% per annum.

Overall ICICI bank is the best bank for providing education loan. Lower interest rate and higher loan amount is what we like about this bank.

Punjab National Bank

Punjab National Bank offers multiple education loan schemes. This includes schemes offered for education in India as well as abroad. The loan offered for higher education abroad is known as PNB Udaan. Key features of this loan are given below.

Key Features of PNB Udaan

  • PNB Udaan offers a loan for the premium institute and course work abroad.
  • The rate of interest for Udaan scheme is 10.4%.
  • No Maximum loan limit it depends upon your repayment capacity and margin.
  • Maximum repayment period is up to 15 years.

PNB offers loan at the lowest interest rate. Processing fee of PNB educational loan is lower. Wide range of education loan offer is an additional advantage of PNB loan.

# Best Banks for Education Loan in India for Small Courses

Corporation Bank

Corporation Bank also offers education loan scheme. The scheme name is known as Corp Vidya Scheme. Student can apply for this loan via Vidhya Laxmi Portal also. Key features of Corp Vidya Scheme are given below.

Key Features of Corp Vidya Scheme

  • The maximum loan amount is 10 Lakh.
  • Interest rate is 10.95%.
  • Repayment tenure is 15 years.
  • The prepayment charge is NIL.

No processing fee and concession for the girl child in the rate of interest are positive points of Corp Vidya scheme.

Canara Bank

Canara Bank also offers a loan for small development courses. The course duration could be 2 to 3 months. The purpose could be course fee, purchase of books or any other relevant expenditure. Key features of Canara Bank education loan are given below.

Key Features of Canara Bank Loan

  • Maximum Loan for the course duration above 1 Year is 1.5 Lakh.
  • Finance for small duration courses also.
  • No security or collateral required.
  • Repayment tenure is 3 years to 7 years.
  • Interest rate is 10.20%

Low interest rate and loan for the lower duration of course are positive points about this loan. Paperwork in this loan is slightly tedious. Loan amount is lower.

# Best Banks for Education Loan in India for Higher Studies School

Bank of Baroda

Bank of Baroda offers a loan for school education in India. The loan is offered for education up to 12th Standard. A loan is offered to the father/mother of the students. The maximum Loan limit is 4 Lakh. The name of the scheme is Baroda Vidhya. Key Features of Baroda Vidya are given below.

  • Maximum loan amount up to 4 Lakh.
  • No processing fee or documentation charges.
  • No security required for the loan.
  • 5% concession in rate of interest for girl students.
  • Interest rate is 11.25%.

Bank of Baroda offers loan at a competitive rate without processing fees.

Allahabad Bank

Allahabad Bank offers two types of education loan. For higher studies and school education in India they offer loan called as Gyan Dipika and for other they offer normal education loan. For normal education loan maximum loan amount is 75 Lakh. For Gyan Dipika maximum loan amount is 1 Lakh. Gyan Dipika is offered for education from Nursery to 12th Standard. Key features of Gyan Dipika by Allahabad Bank are given below.

  • Maximum Loan up to 1 Lakh.
  • No collateral required for a loan.
  • The repayment schedule is 3 years.
  • Rate of Interest is 13%
  • Concession rate is offered for girl students.

Conclusion –

Education is a basic requirement for every individual. If you don’t have money for higher education, you should opt for an education loan for higher education. While selecting education loan you should consider the interest rate, repayment period, processing charges and ease of getting loan approval.