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Home Loan, Best Home Loan in India, Apply for Home Loan Online, home loan calculator india.#Home #loan #calculator #india

Home Loans

If you can dream it, you can own it! Everything you need to know to avail of a home loan is right here. You can be assured of fair terms, total transparency and flexibility. We believe that when it comes to owning a home, nothing should come in the way.

Features and Benefits of DHFL Home Loans

  1. Loan Amount: Avail a Home Loan of up to ` 500,00,000 (minimum loan amount ` 1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower
  2. Tenure Term: The tenure of your Home Loan ranges from 1 to 30 years. The term, however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self-employed individuals)
  3. Purpose: Avail of a home loan for ready built-up or under construction house/flat purchase
  4. Reduce your EMI : With tenure of 30 years, you can reduce the EMI amount on your Home Loan, so that your outgoings every month do not come in the way of your lifestyle and living standards
  5. Interest Rates: The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions
  6. Processing Fees (Non-Refundable) : This is charged as the fee towards processing your home loan application.

Salaried individuals (SAL) / Self-Employed Professionals (SEP)

Self-Employed Non Professionals (SENP)

*GST as applicable

  • Easy Repayments:You have 2 options for repayment of the loan based on the EMIs payable on your Home Loan:
    1. Through ECS (Electronic Clearing Service) based on standing instructions to your bank
    2. Post Dated Cheques(PDCs) drawn on your Savings/Salary account
  • Home Loan Tax Benefits: Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is ` 2,00,000/- for the interest amount paid in the financial year and up to ` 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
  • Applicant and Co-Applicant: Home Loans can be applied by an individual. The loan amount can be further enhanced by including an earning co-applicant.
  • Home Loan Eligibility

    You can avail a Home Loan of up to ` 500,00,000 (minimum loan amount ` 1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower. The loan amount can be further enhanced by including an earning co-applicant.

    The actual Home Loan amount is determined taking into various account factors such as:

    • Repayment Capacity
    • Age
    • Educational qualifications
    • Stability and continuity of income
    • Number of dependents
    • Co-applicant’s income
    • Assets
    • Liabilities
    • Saving habits, and more

    Documentation Required For Home Loan

    Click here for the list of documents required.

    Car Loan EMI Calculator India – Calculate Auto Loan Monthly Payments, home loan calculator india.#Home #loan #calculator #india

    EMI Calculator

    Auto Loan EMI Calculator

    Nowadays, owning a car is no longer seen as a luxurious commodity, rather it has become a necessity. If you have plans to purchase your dream car, it is not important to burn a hole in your pocket in the process. Instead, you can go for the option of having a car loan. The best part of having a car loan is that with the help of reasonable EMIs you get to pay back the loan.

    Are you confused about the whole concept of EMI and the interest you have to pay? You don’t need to and let Car Loan EMI Calculator handle this. Read on, to know more about the EMI Calculator for a car loan and various other related things.

    Car Loan EMI calculator

    Home loan calculator india

    What you should know about Car Loan Monthly Payment Calculator ?

    An EMI loan calculator will help you out in making a right decision for the car model and the monthly budget. So, here are the key factors that you should know about this Loan EMI Calculator –

    • EMI calculator for Car Loan is one of the helpful tools that will make you familiar with the existing and the future monthly amount paid as installments. You can have a Car Loan EMI Calculator from the banks and financial entities.
    • While using an EMI Car loan Calculator, there is a need to enter certain details such as repayment term, loan amount, and the interest rate. With the help of this calculator, you can easily get familiar with the monthly installments and amortization schedule.
    • For using an EMI Calculator for auto Loan, you can enter the processing fee as well. The same fee also gets added to your loan amount to show the total expense incurred.
    • This Car Loans EMI Calculator online will also assist you with the amortization plan, interest outgo, and timeline of the loan repayment. Such information will make you aware of all the important information that helps you make smart decisions.
    • An EMI Calculator also comes handy in planning your monthly budget. This will really help in making the EMI more affordable.

    Home loan calculator india

    How Does Online Car Loan EMI Calculator work?

    First and foremost, the compound interest on the principal loan amount at the set interest rate gets calculated by this EMI Calculator. The calculation is done as per the following rule – paying the interest part first, the total amount payable, and the part that outstanding of your EMI is the principal. EMI is computed using the following emi calculation formula –

    Monthly Installment Amount = [P x R X (1 + R) ^ N] / [ (1 + R) ^N 1]

    In the formula, P is the principal amount; N signifies the number of monthly installments, and R is the rate of interest every month. Let us assume the interest rate per annum at 12%, the interest rate each month will be 12/ (12 100).

    How can you simplify your car loan with an EMI Calculator?

    When you want to have the best information about making a right choice for a loan or about the repayments, this Calculator will do all the things for you. Following are some of the main things that get simplified when you use this Calculator for car loan.

    • Being intuitive and easy to use are its key elements. The main idea behind designing the calculator is to make your calculation task easier. All you need is to enter the values and use the sliders and you will have the instant projections on EMI and amortization schedule.
    • Using this Calculator is as simple as using a standard calculator. You don’t need to have special expertise to use this calculator.
    • With the help of the Calculator, you will have the amortization schedule and above all the breakup of the payable amount in a graphic format makes the things easier to understand and interpret.
    • You can use this Calculator number of times until the time you have the right combination of term, affordable EMI, and the principal.
    • With the help of a online EMI Calculator, you get to know which car loan will be beneficial for you. You get to compare the interest rates based on the prepayment penalty, interest rates, and processing fee to check its effects on the EMI.
    • You don’t have to pay anything and you will get your results instantly.

    What are the benefits of using a car loan eligibility calculator?

    This online Loan Calculator for determining car loan payments is a handy tool that will help you make smart loan decisions. Let us discuss the benefits of this Calculator –

    Reiterate Calculations –

    Using this EMI Calculator for Car Loan, you can keep on varying the values till the time you have the right EMI value that suits you best. Using this calculator, you can also experiment with the interest rates and term of the car loan; you also get to know all these elements can affect your EMI.

    Immediate Results –

    One of the best things is that you get instant results when you calculate your EMI using Car Loan Calculator. You can also use this calculator before taking a final decision on taking a car loan, when you are finally paying off your loan, and while you are making plans for car loan repayments.

    Logical evaluation of car loans –

    With the help of this EMI calculator, you can easily compare the best car loans on the basis of key elements like – interest rate and EMI. You may feel that the interest rates are all same but using Car Loan Calculator, you will get a better idea of the interest rates that can prove beneficial to you.

    Accurate –

    With the help of online Car Loan Calculator, you get to save your efforts on calculating complicated compound interest. If you are planning to do manual calculations, you are bound to make mistakes. If you enter all the details in a Car Loan EMI online calculator, your task gets done in minutes. Having an intuitive interface, the Calculator can be used by anyone.

    How to qualify for a car loan?

    Well, you don’t need to worry as the process of auto loan approval is simpler as compared to the house loan. For your bank and the lenders, your credit history and income really plays a pivotal role. Basically, they are interested in knowing whether you will be able to repay the loan amount or not. Following are the things that a lender or your bank will consider –

    Credit Score –

    Your bank and lenders will show more interest in knowing your status regarding your credit health and even want to know your history. They are usually looking for a credit score i.e. more than 750. Basically, it is the first step and on the basis of your credit score, they will move on to the next step.

    But, if your score is below 750, your application will not be considered for the car loan. For lenders or your bank having a credit score below 750 is a clear signal that you are not capable of managing your credit responsibly. So, if you don’t want to face a rejection, make sure you have a healthy credit score.

    Employment Profile –

    Your bank and your lenders will also show interest in knowing your employment status i.e. whether you have a stable employment or not. This will ensure them whether you are in a position to repay the loan amount. They are not sure if you have s stable employment where you can easily make the EMI monthly payments for a car loan. They check whether you have worked with an employer for a minimum of one year when you apply for the car loan.

    Credit Report –

    Just like your credit score shows the status of your credit health, your credit report shows your credit behavior. Even your current score is healthy, your bank can cross-check your credit report to have a look at your past payment history.

    Existing EMI payments –

    If your existing EMI liabilities is forming a high percentage of your income, your bank will have an idea that you are not in a position to maintain additional debt payments. If your total monthly EMI is over 50%-60% of your income, your lender will get skeptical about repaying the additional car loan. You have more chances of your loan application getting rejected.

    Therefore, when you have decided to apply for the car loan, ensure that your EMI outflow is not more than your income percentage. Just in case it is high, make sure you pay off the smaller loans in order to bring down your overall EMI. This will help in freeing up some part of your income so that you can repay your car loan.

    Besides Car Loan EMI Calculator, you also have easy access to various other EMI calculators like Home Loan EMI Calculator, Bike Loan EMI Calculator, and Personal Loan EMI Calculator.

    National Loans, Cellphones for blacklisted people, blacklisted loans.#Blacklisted #loans

    Apply for a Cell phone

    No Branch visits! Online Application! Completely Secure!

    Can’t get a cellphone contract?

    National loans offer cellphones for blacklisted clients.Look at our fantastic cellphone deals.There is a package that will meet your cellular needs.Apply now, even if you were rejected by networks before. Now you can also enjoy contract rates with pre-paid convenience. All the handsets are backed by Vodacom. Apply online, we assist people nationwide.You can own the latest Nokia or blackberry now!

    * Clear copy of SA ID.

    * Two months bank statements showing at least two salary deposits

    * Latest pay slip, proof of residence.

    Get Financial Freedom Now!

    Don’t let a bad credit score affect your life

    Are you 21 years or older, permanently employed for 6 months minimum, earning a minimum net salary of R2,000 a month and are in the possession of a bank account and SA green bar coded ID, then you could qualify for this deal!

    Blacklisted loans

    Blacklisted loans

    Blacklisted loans

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    Fast. Effortless. Simple

    Our National Branch: Tel: 079 012 9867| Fax: 086 5921 525 | Email: [email protected]

    Copyright 2014, National Loans ( All Rights Reserved

    National Loans is ‘national’, catering for South African loan applications nationwide. Contact us for short term loans from anywhere in South Africa

    National Loans is a South African company, providing loans to South Africans.

    BOI Star Loan Against Property, loan against property.#Loan #against #property

    loan against property

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    Loan against property

    Loan against property

    Star Loan Against Property Scheme

    1. PURPOSE :

    1. To meet the credit needs of trade, commercial activity, other general business/profession, as also for their bona fide requirements;

  • To meet educational expenses of family members including near relatives

  • To undertake repairs/renovation/extension to the residential/commercial property;

  • To purchase / construct residential house/flat, purchase of plot of land for construction of house/ premises for business/commercial use *;

  • For Repayment of existing loans availed from other Banks / FI s conforming to the extant guidelines regarding takeover of account.

    1. Suitable declaration to be submitted by the applicant regarding the purpose.

  • The facility not extended for speculative purposes including investing in equities;

  • The facility is not extended to builders/developers/promoters/real estate agents for real estate activities such as purchase of land/construction with intent to sell or holding real estate stock for sale / re-sale purposes.

  • *Advance for purpose (d) above to be based on mortgage of property already owned by the proponent.

    People engaged in trade, commerce and business, professionals, self-employed, individuals with high net worth, salaried people, Proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) HUFs (excluding partnership firms where HUF is a partner), Societies, Staff members, NRIs- subject to compliance of Bank s/RBI guidelines.

    a) Individuals in permanent service max. 60 years.

    b) For Proprietary concerns/Self Employed/non-salaried people Maximum -70 Years

    (Age limit is the maximum age at the end of the repayment Period);

    Demand/Term Loan , Overdraft (Reducible/Non-Reducible)

    The quantum of advance to be related to the value of security, margin requirement , take home pay and repayment capacity of the proponent , subject to limits as under :-

  • Educational Loan Scheme – Term Loan, Interest, educational loan.#Educational #loan

    educational loan

    Loan for Higher Amount can be considered on merit and case to case basis

    Above Rs.4.00 lakh and below Rs.7.50 lakh: No Collateral except Satisfactory third party guarantee

    Above Rs.7.50 lakh: Collateral equivalent to quantum of finance after providing requisite margin

    Above Rs.4.00 lac to Rs.7.50 lac – Satisfactory third party Guarantee

    Above Rs.7.50 lakh: Parent(s) to be Joint Borrowers/ Guarantor Not to be insisted upon

    5% for studies in India

    15% for studies abroad

    For loan above Rs.7.50 lakh: Up to 15 years, in EMI (Loan + Int. accrued together), after moratorium

    Moratorium: Course Period + 1 Year or 6 months after getting job, whichever is earlier

    • Loan will be granted to student with parent as Co-borrower/s
    • Loan will be disbursed in stages as per requirement directly to Institute / College.
    • Pre-approved Education loan(In principle sanction) is available for student applying to multiple universities/Colleges for study abroad.

    Interest subsidy on education loans to students from economically weaker sections.

    Central Scheme to provide Interest Subsidy for the period of moratorium on Educational Loans taken by students from economically weaker sections.

    Government of India has approved a Scheme to provide full interest subsidy during the period of moratorium on loans taken by students belonging to economically weaker sections under the Educational Loan Scheme, for pursuing any of the approved courses of studies in technical and professional streams, from recognized institutions in India.

    We are providing hereunder guidelines of the scheme:-

    The Scheme would be applicable only for studies in recognized technical and professional courses in India. The interest subsidy shall be linked with the existing Model Educational Loan Scheme of our bank and restricted to students enrolled in recognized technical/ professional courses (after Class XII) in India in Educational Institutions established by Acts of Parliament, other Institutions recognized by the concerned Statutory Bodies, Indian Institutes of Management (IIMs) and other institutions set up by the Central/ State Government.

    2.Eligibility for Interest Subsidy

    The interest subsidy under the Scheme shall be available to the eligible students only once, either for the first undergraduate degree course or the post graduate degrees/diplomas in India. Interest subsidy shall, however, be admissible for integrated courses (graduate + post graduate).

    Interest Subsidy under this scheme shall not be available to those students who discontinue the course midstream, or for those who are expelled from the Institutions on disciplinary or academic grounds. However, the interest subsidy will be available if the discontinuation was due to medical grounds for which necessary documentation to the satisfaction of the Head of educational institution will have to be given.

    3.Subsidy Applicable Period

    Under the Scheme, interest payable by the student belonging to economically weaker section for availing of the Educational Loan for Technical/ Professional courses in India for the period of moratorium i.e., course period, plus one year or six months after getting job, whichever is earlier, as prescribed under Model Educational Loan Scheme of the bank, shall be borne by the Government of India. After the period of moratorium is over, the interest on the outstanding loan amount shall be paid by the student, in accordance with the provisions of the existing Model Educational Loan Scheme and as may be amended from time to time.

    The Scheme shall be applicable from the academic year 2009-10 starting 1st April, 2009. The loan amount taken starting from the Academic year 2009-10 (irrespective of the date of sanction) shall only be covered under the scheme of Interest subsidy.

    Note: Interest on any amount disbursed for courses starting before the academic year 2009-10 would not be considered for subsidy.

    The benefits under the Scheme would be applicable to those students belonging to economically weaker sections, with an annual gross parental/ family income upper limit of Rs. 4.5 lac per year (from all sources). The scheme is intended to cater to the needs of students belonging to economically weaker sections with the above prescribed upper parental gross income limit of the family from all sources which is based on economic index and not on social background.

    6.Competent Authority for Issuing Income Certificate

    Income proof shall be required from the students from such public authorities as are authorized by the State Governments for certification of income status for this scheme, including Central and State Sector Schemes.

    For the State of Maharashtra, the Tahsildar is the competent authority for issuing the income certificate.

    For other States, student borrowers are requested to approach our branch officials for knowing the details of competent authority who are authorized to issue such income certificate.

    Interest subsidy should be claimed under the scheme only if subsidy was not being claimed against any other State Government scheme.

    All the eligible student borrowers are requested to visit the concerned branches (where they have availed education loan) for enrolling to avail Interest subsidy during moratorium period under the scheme. It is requested to go through the above contents carefully before approaching the branch officials for submitting the application for interest subsidy claim. The scheme is applicable only for those who have availed educational loan on or subsequent to 01.04.2009.

    Steps to be followed by the student borrowers for availing the benefit of interest subsidy under the scheme:-

    1. Procure income certificate as discussed in the point no. 5 as above.
    2. Ensure having taken all requisite certificates and approach the respective branch.
    3. Submit the application for claiming subsidy (Application/ Agreement will be supplied by the branch officials)

    Student Loans South Africa – Approved Study Loans, study loan.#Study #loan

    Student Loans – Approved Loans

    A good education is your best bet for a bright future. With the high cost of education nowadays, it is getting harder to get into a decent school and get a rewarding job afterwards. What are your options then?

    What is a student loan and is it necessary to get for enrolling in college?

    Student loans are funds that are available to help finance your education. If you have enough savings to pay for school, then you do not need one

    How does a student loan affect your credit?

    Student loans affect your credit score like any other loans. As long as you pay on time, your credit should be fine.

    Does a student loan and a bank loan affect your credit the same way?

    They are both installment loans on your credit report. It is not advisable to take a bank loan since this is most likely not tax deductible like the student loan.

    What happens to your credit score in you default on a student loan?

    You can’t actually default in making payments. This doesn’t go away. While you may have stopped making payments, you will have to resume because it does not “age” off the credit reports, can not be discharged in bankruptcy and the interest keeps getting added to the outstanding balance.

    Somebody with a huge outstanding student loan balance and no job to pay it off. can be set back decades in achieving their financial and social goals.

    How do you fix a student loan that is over what you originally borrowed?

    Have you exhausted all forbearance or deferment options? Or have you inquired about income-based payment plans? If you haven’t, this can be your first consideration.

    What happens after your student loan application has been approved?

    They usually don’t give you the money until right before the semester starts.

    How does student loan forgiveness work?

    Interest accumulates on any loan any time there’s a remaining balance.

    Is it possible to get a student loan from a bank without a co-signer?

    If you have a good credit history, it is possible to get a student loan without a co-signer. You should go to your bank and discuss this with your personal banker.

    How can i get a student loan if i have bad credit?

    For private student loans, you can only be approved on your own merit or you have to have a cosigner. Local banks might give you a loan but with a higher than normal interest rate.

    Is there a difference between a regular loan and student loan?

    Student loans don’t have to be paid until you finish school.

    Loans have to be re-paid immediately with monthly payments.

    What is the fastest way to get rid of student loan debt?

    In order to attack this debt you first have to write out a budget and pay off your consumer debt on a “snowball method” which is you roll over the payments to the next step and add it to the minimum payment and that will add to the point it will be a big chunk of money to be applied to the student loan. But you have to really be diligent on getting this paid off. Otherwise it will take you forever.

    Better to pay off student loan debt or invest in a home?

    As long as you both have (relatively) stable employment, buy a home and buy one you can afford while paying on your loans. After awhile your student loans will be paid off and you’ll have equity in your house to upgrade to a bigger one if you want.

    Is there a student loan available before actually enrolling in college?

    No you can’t. And if you have any excess loan money you won’t get it until well after the semester has already started. at least 2 weeks in. Sometimes even longer depending on if you met the schools deadlines for turning all your paper work in.

    How do I take out a private student loan?

    Try to avoid private student loans unless you absolutely have to. They have higher interest rates, substandard extra fees, and require cosigners or good credit history.

    I have a student loan payment but I want to go back to school. Is it possible to have my payments deferred?

    Its possible, but most loan providers only let you defer it for the 4 years your in school, your going to have to contact your loan provider to see what there policy is if you go on to grad school.

    How long do you have to pay off a student loan?

    Budget your finances. It is essential to create a budget so you can keep track of how much money is coming into your bank account, and how much money you are paying to cover expenses. Identify areas in which you can cut back on spending. Consolidate your student loans. Ask for student loan payment deferrals if you are unable to make your student loan payments on time. Focus on paying off your student loan sooner than later. Check to see what tax benefits you can get from paying your student loan.

    How can I lower my monthly student loan payments?

    If you have been paying them on time, there should be a way. Call them and ask if it would be possible to combine all the loans to gather with one interest rate. and ask them what they can do to lower your Payments. if that dose not work go to a bank or a credit union and ask if they can help you by giving You a loan to pay off the loan and just have one payment to them.

    Study now, pay later seems like a good thing. After seeing all the facts, you will know for yourself if a study loan is the product for your requirements. One thing is for sure though –a good education is your guarantee for success.

    Providers of study loans in South Africa

    higher education is very important for securing your future, and that is why many south africans are keen to study further after completing high school. however, tertiary education can be very expensive, especially for the majority of people who need the education, but simply cannot afford it. this is primarily why study loans in south [ ]

    Do you qualify for online loans in South Africa?

    There has been an increase in providers of online loans in south africa over the last few years. they have managed to successfully assist thousands of people in need of financial assistance with quick and easy loans. one of the reasons why online loans have been successful is that many people have easy access to [ ]

    Career development solutions | Bank student loans

    tertiary education is very important for securing your future in today s competitive world. however, it is often very expensive to pursue one s dreams and those not fortunate to qualify for scholarships or bursaries may need to apply for bank student loans. these prove to be most helpful in allowing would-be students to pay for their [ ]

    Best Study Loans Options for a Brighter New Year

    so you’ve chosen to further your studies in the new year? that’s probably the best decision you can make for your future, but the future seems a long way away – doesn’t it? in fact, you’re probably wondering how you will accumulate the money to pay for your studies. working and studying at the same [ ]

    Student Loans for a Brighter Future

    although bursaries and other forms of grants are always the preferred form of financial aid, a lot of students don’t have this luxury and have to rely on student loans. to most students a student loan can help them to concentrate on studying rather than worrying about sourcing of funds. this article analyses the advantages [ ]

    Secure a Brighter Future with Student Loans

    student loans remain a popular option for many young people aspiring entrepreneurs, leaders, academics and so on to secure a brighter future. higher education unlocks the door to endless possibilities, which is why finding finance for a degree or diploma has become an important issue for thousands of parents and prospective students alike. [ ]

    Paying Off Your Student Loans Fast

    Study loan

    you are now a one of the fresh graduates out to conquer the world. before you set your sights in climbing the career ladder, don’t be weighed down by your student loans first. take time to study your options in how you can quickly pay off the loans so you can be on your way [ ]

    A Word on Borrowing and Repaying Student Loans

    Study loan

    you need to bridge that college education funds gap. you find out about student loans and wonder if this is right for you. here are some tips that might help you borrow sensibly. it is still borrowing isn’t it? a student loan is still a loan even if you don’t have to pay the loan [ ]

    Dos and Don’t s of Student Loans

    Study loan

    getting a student loan for the first time can be quite a challenge. it is new and the fate of your future education rests in the hands of a private lender or the government. you need help. a student loan is expensive and you don’t just sign a lot of papers and head straight to [ ]

    Student Loans Primer

    Study loan

    are you thinking of getting a student loan to pay for your college education? learn the facts first on student loans so you will pass and succeed with flying colors. accrued interest-interests on student loans are accrued over time default rate-a student is in default when he or she hasn’t kept up with payments. the [ ]

    State Educational Grant and Loan Scheme (SU and SU-l – n), educational loan.#Educational #loan

    State Educational Grant and Loan Scheme (SU and SU-l n)

    Danish students are entitled to public support for his or her further education – regardless of social standing. Tuition at Danish public and most private educational institutions is free for Danish students and for EU/EEA students as well as for students participating in an exhange programme. From 2006 all other students have to pay a tuition fee. Society lends students a helping hand in covering living costs for a great variety of courses and studies. Support for students’ living costs is awarded by the State Educational Grant and Loan Scheme (Danish acronym: “SU” and “SU-lån”), a system managed by the Danish Agency for Institutions and Educational Grants (Styrelsen for Institutioner og Uddannelsesstøtte) in collaboration with the educational institutions and under the auspices of the Ministry of Higher Education and Science.

    1. For people over 18 following a youth education program

    For people over 18 following a youth education program i.e. a general upper secondary, vocational upper secondary or vocational education and training program. Students must attend classes, sit examinations and in other ways demonstrate that they are active in their educational programmes. No time limits are placed on this type of support. Students are eligible for support for any number of courses, with the exception of certain upper secondary programmes. Until students are 20, their grants depend upon their parents’ income. When that exceeds a certain amount the grants are reduced on a sliding scale, ending in a minimum grant.

  • For students enrolled in higher education courses

    Every student enrolled in a higher education course is entitled to a number of monthly grants. When the student starts his or her education, we grant SU corresponding to the education’s prescribed duration in months. If the student is admitted to his or her first higher education course no later than two years after his or her first completed qualifying exam, the student receives SU to the prescribed duration of the education + 12 extra grant portions. Inside a maximum of 70 grants students can change from one course to another. If the student is studying at a higher education course and has used all his or her grant portions, the student can receive a completion loan in the last year of his or her studies..

  • All students (1 and 2) living with their parents are supported with a lower grant than students living in lodgings. Students under 20 enrolled in a youth education program are supported as if they are living with their parents whether they do so or not, but may apply for an exemption.

    Students who accept support in a year in which their private earnings exceed a set amount have to repay some of the grants and loans received that year plus 7%. However, they have the option of not accepting support for a period of time thus enlarging the set amount.

    Students in higher education (under a time limitation) have the choice of using these grants later, to prolong their studies (for instance, to prepare for re-examination after a failed exam).

    In particular situations – mainly sickness and childbirth – students can apply for extra monthly grants. New mothers are eligible for 12 and new fathers for 6 extra monthly grants, with certain stipulations.

    Altogether the rules make for a flexible system. Students have the option of organising their studies according to their personal preferences and earning possibilities. At the same time, however, they incur a measure of personal accountability for managing their financial situation.

    In combination with both types (1 and 2) of grants, students are offered supplementary state loans (grants 2/3, loans 1/3 of total support). The interest rate for these loans is set by Parliament.

    When students have been awarded an SU loan, they will get a loan plan in minSU. Students must approve their loan plan and accept the terms of the loan (see the terms here), before the Agency can pay the SU loan.

    Students must start paying back state loans no later than one year after the end of the year in which they graduate or give up their studies. The loan must be repaid within 15 years.

    About half of all students make use of state loans.

    Over 486.000 (2015) Danes benefit from these two types of educational support every year. The annual budget amounts to over 20 billion Danish Kroner, around 1 per cent of Gross National Product.

    Danes can obtain support for studies abroad. Courses of study have to meet the same conditions for recognition as Danish ones. Furthermore, the qualifications acquired must be usable in Denmark.

    For studies in the Nordic countries support is awarded for the prescribed duration of the chosen study, plus 12 months. For studies in other foreign countries, students are supported for four-year courses or for the last four years of longer ones.

    Support granted for studies in Denmark can be used to finance studies abroad when they are accepted as part of a study program at a Danish institution.

    As a rule, foreign students enrolled in Danish courses of study are not eligible for educational support. Exceptions are made on the basis of specific conditions for refugees and relatives of refugees and for other foreign citizens provided – among other stipulations – that they have been living and working in Denmark long enough.

    As far as EU rules and regulations make it possible, EU citizens can gain support from the Danish system.

    The system – the educational institutions

    Schools and universities – receive applications in minSU for support from students, check them and pass them on to the agency. They offer general and personal information and guidance to students. They check that students observe study requirements.

    The Agency

    Prepares amendments of the scheme, registers applications, pays out grants and loans, offers guidance and information to the educational institutions, deals with complaints and appeals (which are decided by a Board of Appeal), draws up budgets and collects statistics for the use of the Ministry.

    The Ministry

    Presents bills providing for amendments to the scheme and is responsible for overall planning and budgeting for grants and loans.

    Educational Foundation, educational loan.#Educational #loan

    educational loan

    Educational loan

    The Knights Templar Educational Foundation Supports

    Higher Education Through Grants and Scholarships

    Page Revised September 28, 2006 at 1100 HRS

    Investment in Education is an investment in the Future”

    The Knights Templar Educational foundation Committee considers all applications for scholarships, without regard to age, race, religion, National origin, gender, of Masonic ties or affiliations. These scholarships are not “grants in aid”, but are open to all students regardless of their financial circumstances.

    Provide financial assistance to students who meet the required qualifications, which may vary from state to state.

    How to apply for a grant.

    Application forms are available from the office of the Grand Recorder of the Grand Commandery of each Division or Division Chairman.

    Contacts for information

    Office of the Grand Recorder of Grand Encampment. The name and address may be found by clicking HERE. The State Grand Recoders may be found by going to the posted LIST and looking under the state where the applicant resides.

    History and transition of the Knights Templar Educational Foundation.

    In 1922, the Grand Encampment launched the Knights Templar Educational Foundation with the words: “We feel that the Grand Encampment can build no greater monument nor inaugurate a more worthwhile movement than to establish a plan which will put into effect a plan which will provide educational advantages for the youth of our beloved country, thereby enabling them to become more useful members of society and better Citizens of the United States of America.”

    The Foundation was sustained and perpetuated by each Sir Knight paying annually the sum of $1.00 for a period of nine years beginning July 1, 1924. This Fund became available for student loans.

    Through the years the fund has grown and Grants and Scholarships are available in several states. However, some states still continue to use the Loan program where the student is expected to repay the loan at a low interest rate. States have either Grants or Scholarships or Loans but not both.

    The need for Education

    Education beyond high school is essential in a technological age. It may be obtained today in –

    1. A vocational school, which trains artisans and craftsman.

    2. A technical school, which prepares technicians for various specializations.

    3. A professional school, which offers preparation, in medicine, law, theology, engineering, business, agriculture and others.

    4. Colleges and university, which give a firm foundation for business, trade or profession.

    Since its founding the Knights Templar Educational Foundation has assisted more than 80,000 students for an aggregate monetary value of over 38 million dollars through Loans and Scholarships to deserving youth thereby exemplifying the purpose and principles for which it was created.

    Who are the Knights Templar?

    The Knights Templar is a Christian oriented fraternal organization and is the culmination of the York Rite of Freemasonry. this fraternal organization does not claim to be a direct descendent of the ancient order founded in the 11th century but their service in these times reflects the virtues of the Valiant Knights and serves those in need today through charities and support of higher education.

    How to calculate interest on a loan#How #to #calculate #interest #on #a #loan

    Calculate Loan Interest

    How to calculate interest on a loan

    How to calculate interest on a loan

    The easiest way to calculate loan interest is with a calculator or spreadsheet, but you can also do it by hand if you prefer. We’ll cover each of those approaches on this page.

    Technology makes quick work of the calculations, but when you do the math yourself (at least some of it) you notice details that can help you make better financial decisions.

    Types of interest: it’s important to understand exactly how interest is charged, and that depends on the loan and your lender.

    For example, credit cards often charge interest daily – so it pays to make your payment as soon as possible. Other lenders might calculate interest monthly or even annually. This detail is important because you need to use the right numbers for your calculations. Interest rates are usually quoted as an annual percentage rate (APR). If you pay interest monthly, you’ll need to convert that rate to a monthly rate by dividing by 12 for your calculations (for example, a 12% annual rate becomes a 1% monthly rate).

    Calculators and Spreadsheets

    If you want to do as little math as possible, there are two ways to take advantage of technology:

    • Spreadsheets like Microsoft Excel, Google Sheets, and others make it easy to build a model of your loan. See exactly how to calculate with a spreadsheet (with easy-to-follow steps). With the model built, you can easily see how different loans compare, and you can see things you’re your lifetime interest costs.
    • A loan amortization calculator does everything for you: it will calculate your monthly payment, show how much interest is in each payment, and show how much you pay down your balance every month. Copy and paste the output into a spreadsheet if you want to do more analysis.

    How to Calculate Loan Interest Yourself

    Don’t want to use a spreadsheet or calculator?

    You can do it all by hand – or at least build a spreadsheet by hand – and you’ll become a pro at understanding interest expenses.

    For standard home, auto, and student loans, the best way to do this is to build an amortization table. This table shows every payment, interest and principal amounts, and your remaining loan balance at any given time (just like a spreadsheet or a good calculator does). To calculate, you ll need to know a few important variables:

    • The interest rate
    • The length of time you ll borrow
    • The amount that you re paying interest on (known as the principal)
    • The monthly payment (see how to calculate payments below)

    For a quick estimate of interest costs, a simple interest calculation can get you “close enough.”

    Simple interest example: assume you borrow $100 at 6% for one year. How much interest will you pay?

    Most loans aren t that simple. You repay over many years, and interest is charged every year, sometimes even compounding and causing your balance to grow.

    Real-life example: assume you borrow $100,000 at 6% APR to be repaid monthly over 30 years. How much interest will you pay?

    Assume this is a standard loan like a home loan.

    Hint: the monthly payment is 599.55.

    You’ll actually pay a different amount of interest every month – ideally less each month. These loans go through a process called amortization, which pays down your loan balance over time.

    The table at the bottom of this page shows how your loan calculations might look; total interest over the first three payments is $1,498.50 ($500 $499.50 $499). To build that table yourself, use the steps below:

    1. Calculate the monthly loan payment (see how to calculate payments)
    2. Convert the annual rate to a monthly rate by dividing by 12 (6% annually divided by 12 months means a 0.5% monthly rate)
    3. Figure the monthly interest by multiplying the monthly rate by the loan balance at the start of the month (0.5% times $100,000 equals $500 for the first month)
    1. Subtract the interest costs from the monthly payment (and keep a running tally in an additional column if you like)
    2. Apply the remainder of the monthly payment to principal repayment (reduce your loan balance by the principal payment)
    3. Calculate your remaining loan balance
    4. Copy the remaining loan balance to the next line
    5. Repeat steps 2 through 8 until the loan is paid off

    You’ll see that a portion of each payment goes towards your interest expense, while the rest pays down your loan balance. Payments in the early years mostly go towards your interest costs (this is especially true for long-term loans). Over time, the interest portion decreases, and you pay down the loan more quickly.

    Helpful tips for calculation:

    Calculate Credit Card Interest

    With credit cards, the calculation is similar, but it can be more complicated. Your card issuer may use one of several different methods to calculate your interest charges and minimum payment. These calculations account for purchases and payments that occur throughout the month, and the card issuer’s approach to generating profits.

    To see an example of how to calculate interest, payments, and debt payoff with a credit card yourself, see Calculate Credit Card Payments Costs.

    Calculate Loan Interest Rates

    If you want to calculate a loan’s interest rate – as opposed to interest costs – see How to Calculate Interest Rates.

    Interest Expenses

    Interest effectively raises the price of the things you buy, whether it s a new home, a car, or equipment for your business. In some cases, those interest costs are tax deductible – which is one more reason not to ignore them. In other cases, interest is simply the price you pay for using somebody else s money.

    To understand your finances, it’s wise to calculate interest costs any time you borrow. This helps you compare the costs of different loans, and it’ll even help you evaluate big decisions (such as how much to spend on a house or automobile). You can compare lenders, choose between ​longer or shorter loan terms, and find out how much ​the interest rate really affects your total interest costs.