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Motorcycle Loans: Ride the bike of your choice
Speed and unique looks of the motorcycle is the reason why most people look for in buying a motorcycle on their own, rather than any other two-wheeler. And, to add as an advantage, motorcycle has a low maintenance cost and they are very comfortable. Everyone wants to buy their own motorcycles in their own choice. However, while carrying the daily activities, there are so many other unavoidable costs which can not take care of everything and one can think to forget his dream of buying a motorcycle of his own. Cheer up guys like loans on motorcycles was introduced in financial markets to fulfill the dreams like poor people and make them ride their own bike.
Motorcycle loans are classified into two types, namely secure and unsecured. To secure loans, borrower is required to put any of his valuable property as any property, building or any real estate as security against the loan. The lender in this case is not at risk if the borrower does not repay the full loan amount of time available for his value on the basis of security that benefits the borrower with lower interest rates and a larger amount of debt. But the unsecured loan, the borrower is not required to put any of his valuable property as security against debts. It is clear that the lender in this case is at risk if the borrower does not pay the entire debt of the time, so he was imposing higher interest on the loan amount. The loans are suitable for borrowers like tenants and non-Homeowners who can not place any of their valuable property as security against debts. Using the loans, borrowers can also buy older motorcycle with only the condition that the motorcycle must not exceed 5 years. Repayment duration for such loans is about 18-84 months and loans can finance up to 90-100 percent of the total cost for the motorcycle. Even the borrowers with bad credit history like CCJ’s, bankruptcy, arrears, default, late payments etc. can also help such as loans without any kind of problem or hesitation. But before applying for loans, borrower must satisfy certain conditions that he should be above 18 years old, he should have a job and must be a citizen of UK.
The online method of application is easy and quick to help with loans. After filling out a simple application form the required personal details, the lender confirmed it and submit the required amount of directly checking the borrower’s account. You will receive your money deposited into your bank account the same day or next business day. Good online search can get you the best loan deal and never too from the very comfort of your own home.
Fixed Rate Bonds vs. ISA's (Page 1 of 2)
It is difficult to know where to put your money these days to get the best returns, especially with the way the economy has suffered over recent months, pushing the Bank of England to make a string of cuts to its Base rate which have in turn been passed on to savers rates.
With the Base rate now down to the lowest level ever recorded, rates on normal savings accounts have been slashed, which has limited our saving options.
The two obvious choices in today’s savings market are Fixed Term Bonds, and Individual Savings Accounts (ISA). Although both types of savings accounts have their similarities, there are several advantages and disadvantages to each and it is this topic of discussion that this article will be focussing on.
Fixed Term Bonds
Fixed Term Bonds provide a rate that is fixed throughout the duration of the bond, giving savers a predictable income with no surprises. Once you have chosen a fixed term account, you are able to calculate exactly how much interest you will earn, minus the tax, to give you your end balance.
Most Fixed Term Bonds offer very high deposit limits, generally between £500,000 to £2 million, but some, such as ICICI, will let you invest as much as you like. You must deposit the full amount upon opening the account and cannot add to this once active.
There are no limits to how many fixed term bond accounts you can open within any one year, so unlike ISA accounts, if you decide to close your account for any reason, you can still invest any amount elsewhere at any time.
Fixed Term Bonds generally offer the highest saving rates available, but these tend to be on shorter-term bonds, as they carry less risk to significant rate cuts leading to banks and building societies paying you over the odds in interest for long periods of time.
‘What goes up must come down’
If you are extremely lucky and do your research, you could open a fixed term bond before rates significantly fall, allowing you to earn well above savings rates offered to new and variable rate customers. If you cast your mind back to October last year, when the Base rate stood at 5%, you would be very happy with yourself if you were earning this kind of rate on your savings today, with the Base rate now at 0.5%.
A big element to a fixed term bond account is the “fixed term”. You must be realistic with your finances and only go for this option if you can afford to lock your money away for some time. If you find that you need to withdraw any amount from your account, the bond will close and in most cases you will lose any interest to accumulated to date.
As well as the possibility of rates falling during the life of your bond, you could see the opposite effect, with rates significantly rising, leaving you locked in at a low rate. It is always a good idea to look at recent trends in Base rate changes to enable you to make an educated prediction on the direction it’s headed. Many economists believe that rates will continue to fall during 2009, going as low as 0%.