An unsecured loan can be availed to entrepreneur, self-employed professionals, Small and Medium Enterprises (SMEs) etc. without any security or collateral, for any of the following purposes:
  • Business expansion and growth, even for coffee business.
  • Buying machinery or equipment or fixed assets.
  • Meeting working capital finance requirements.
  • Building or constructing office premises or factory building.
  • Since these loans are available without taking any security, the rate of interest is generally higher than the secured loans.
  • Most lenders require an exceptional rating on your CIBIL score and no bad marks on your credit history. These loans are available at a floating interest rate ranging between 14% to 22%.
  • The tenure of these loans generally ranges from 1 to 3 years, in some special cases it may also extend to 5 years.
  • The loan amount range from 5 lakhs to 1 crore, in some special cases it may also extend to 5 crores.
  • Processing fees of these loans are generally 2% to 3%.
Eligibility Criteria:
  • Age – Most banks disburse business loans to individuals aged between 24 to 65 years.
  • Business Experience– Banks will prefer if you have been engaged in sustainable business for at least 5 years, showing stable signs of growth at least for the last 3 years. Some banks give a loan amount up to 60 to 80% of your median annual profits.
  • Businesses Eligible– Following businesses are eligible for unsecured business loan:
  1. Small businesses, SMEs, Small and Medium Corporates.
  2.  Sole- proprietorships, partnership firms, private limited companies, trusts, societies etc.
  3.  Manufacturing firms, traders, wholesalers, retailers, exporters, distributors and resellers.
  4. Service Providers such as- Chartered Accountants (CAs), interior architects, consultants, interior architect, schools, playschools and educational institutions.
  5.  Self Employed professionals such as- doctors, CA, MBA, engineers & architects and people with professional degrees.
Documentations: Following documents are required to apply for an unsecured business loan:
  • Signed Application Form
  • Identity Proof (PAN)
  • Residential Address Proof
  • Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.
  • Last 12 months bank account statement (self and business)
  • Certificate and Proof of Business Existence
  • Business Profile
  • Office address – ownership/ lease / rent agreement/ utility bill
  1. Can I prepay the loan?
Ans- Pre-payment is not permitted in the first 12 months of the loan. You can pre-pay your loan with pre-closure charges of 5% on the outstanding amount at the time of closure.
  1. Can I get an unsecured business loan with a bad credit history?
Ans- No, you cannot get an unsecured business loan with a bad credit history. You need to possess a sound credit history to get such loan.
  1. When should you opt for unsecured business loan and not loan against property?
Ans- In the following circumstances you need to opt for unsecured business loan in place of loan against property:
  • You are unable to or not willing to provide a collateral or security such as property or deposit.
  • You need money for a relatively shorter period of time.
  • You need the money real fast and with minimal documentation within 3 – 15 days.
  • You need flexible eligibility norms based on annual turnover or cash profits as opposed to reported income or profits.
  1. How do I pay monthly repayment of my loan?
Ans- You can repay through monthly ACH facility for which we have a tie up with our banker. No need to sign multiple cheques for the entire tenure of your loan.
  1. How can I close my loan?
Ans- You have the option to close your loan anytime during your tenure with no foreclosure penalty.

Q-1 Why should I buy term life insurance?
Term insurance offers one of the most affordable ways to protect your family’s finances if something were to happen to you. It offers a death benefit and some plans even have permanent disability riders. Many insurance companies offer Term insurance for a period of 5, 10, 15, 20 and 30 years thus offering relatively long Term of coverage. You should choose a term that at least covers you for the earning years of your life, i.e. 58 – {your current age}.

Q-2 What are term life insurance disadvantages?
Although the premium of term insurance is very low at the younger age, once the policy term expires after the maximum duration, premiums increase as they are primarily age-related. Generally, the policy doesn’t offer cash value or paid-up insurance so nothing is paid to the insured if he survives the policy duration

Q-3 When is term life insurance the right choice?
If you wish to have a life insurance with good coverage without having to pay the large amount as premium, for a fixed duration, term insurance is an ideal option. It is most suitable to cover your fixed goals that may disappear over time.

Q-4 How much term life insurance do I need?
Your coverage need will depend on your individual circumstances. Factors you should consider include anticipated final expenses, living expenses for your surviving family members, any outstanding loans (e.g. auto and credit cards), the outstanding balance on your mortgage, anticipated education costs for your children, estate taxes, and business continuation expenses.

Q-5 What affects the premium rates of my term life insurance?

Ans-Factors affecting the premium of term life insurance are:
• Age of the insured – Life insurance premiums are age-linked. Younger the person lesser the premium. Life insurance premiums vary for different age brackets.
• Smokers or non-smokers – For many insurance companies, premiums are different for smokers and non-smokers. Smokers or tobacco users may have to pay higher premiums depending on the insurance company norms.
• Sex of the insured– term insurance for males will cost more than that for females for the same sum assured.
• Medical conditions – Medical condition of the person being insured is important and medical check-up compulsory for term life insurance. The premium may vary as per the individual medical condition.
• Dangerous hobbies – If you indulge in dangerous hobbies like parachute jumping, race car driving etc. you might either be declined insurance or may have to pay the higher premium based on the insurance company policy.

Q-6 Can the premium of my term insurance change?

ANS- Premium of a term insurance remains the same throughout the term of the policy provided all other factors remain the same.

Q-7 Is medical examination necessary for the term insurance?
ans-medical examination is necessary for all term insurance.

Q-8 Is my term life insurance policy convertible?
Many term life insurance policies are convertible to other traditional plans like endowment plans or money back plans etc. Convertible policies can generally be converted to permanent policies within a specified period of time from policy issue, without providing new evidence of insurability (unless you increase your benefits). It needs to be identified at the time of buying the policy for the convertibility feature.
Q-9 What is the Accidental Death Benefit rider?

ANS-The accidental death benefit rider is an optional policy provision where in event of death due to an accident, an additional amount is paid by the insurance company. This amount is over and above the basic sum insured that the beneficiary will get for your term insurance.

Q-10 What is the Waiver of Premium rider?
The waiver of premium rider is an optional provision that protects your life insurance policy to be cancelled even when you are not able to pay the premiums in event of your total disability. The payment of life insurance policy’s premium is waived off.

Q-11 What is a p re-medical exam and how do I schedule one?

ANS-To take the term life insurance, you need to undergo a medical examination called the pre-medical. A basic pre-medical exam includes the following:
• Height/weight measurements
• Blood pressure readings
• Heart rate readings
• Urine sample
• Blood sample
• Medical history questionnaire
After receiving your completed application form, the insurance company representative contacts you to arrange your exam at a time and location most convenient to you.

Q-12 can I take more than one term plan?
Yes, you can take more than one term insurance plan. It needs to be declared to the insurance companies regarding the same


CMT Level 1 Study Material

As a matter of fact you can watch live market trading that helps you to connect with CMT. Join a Technical Analysis Course which works on real time markets by using tools & techniques . That’ll give you behavioural understanding of real time Share market. Understanding the money management by real time trading or investment activity. As we know CMT is an MCQ Exam & ask question on application level. Create short notes of Course Content. Get PPT based Short Notes & note interpretation of tools & Techniques on technical analysis. Short Notes help you out to quick revision at the CMT exam time. CMT Books have very complicated language & course content is not properly aligned as it takes topics from various books of different writers. 

So we have to take individual topics and understand concepts in simple, Concise and Clear manner. Take content from various books or websites like Investopedia or Stock Charts on Each Topic for in-depth understanding. Apply tools & techniques with the help of Technical analysis or trading software’s. Read Books twice as MCQ can be created from a single line. while study mark important topics.