Can a bank employee work as LIC agent?
You can be an Agent/adviser/ of LIC independently. Because no one can stop you to do two job or an extra job till a law comes into force.For example : Teachers are teaching in schools or colleges and after working hours they are doing independent job in coaching center or part time guest lecturer.Again see Doctors, Lawyers etc.But if there is a code of conduct in SBI specifies that you can not be an agent of LIC when you are serving in SBI, they have the right to suspend or dismiss you if you are found guilty of violating rules and regulations / code of conduct/ behaving against established policy of that organisation.You should also respect that because you have already agreed with all those rules when you joined SBI. So LAW can be applied against you if SBI has already informed you that you can not do job in LIC.STILL IF YOU ARE SMART ENOUGH AND WANT TO MAKE MONEY BY DOING SOME EXTRA EFFORT, I HAVE AN IDEA.Put some more efforts. educate a little and prepare someone you believe or request one your close relative to join LIC, you acquire customer after your working hour and enjoy the benefit. Here are 3 profit :No worry for SBI and violation of rules.Getting extra good income.Making your life meaning full by making your relationship bond stronger ( If you will share some of your income with a good will gesture with your relative half yearly or yearly.Happy Earning Sir!
What is the commission % for home loan agents?
Compensation for individual loan officers varies from company to company. At large banks like B of A and Wells Fargo, loan officers typically are paid a base salary plus a bonus for actual production—typically in the range of .25%-.5% of the loan amount.Independent mortgage banks and mortgage brokers typically work on a margin of around 2% of each loan at the branch level. From this revenue, they have to cover expenses like rent, phone, etc. and commissions paid to individual loan officers. Those commissions can range between 1% and 1.5% of the loan amount.There is a fixed amount of gross profit available on each loan. That profit comes from the ultimate sale of the loan to the investor. Fannie Mae and Freddie Mac are two of the largest purchasers of residential mortgages. In order for a loan officer or mortgage company to derive more gross profit on each loan, they must increase their rates. Funded loans sell for the same price on any given day regardless of who is selling them. A mortgage company may decide that they want to collect a margin of 2.25% rather than 2%. In order to do that, they would have to raise their rates approximately 1/16% across the board.
How much commission does a DSA get from a bank on every personal loan?
DSA means direct selling agents. The way a middle man works for any product, and creates a relation and connection between the product owner and the product buyer, same way DSA creates the connection between the finance company/bank and the loan seeker. They themselves don't give loan, but they are the agents of bank to perform the same function.Now being DSA is among the most money generating business, There is no such rule to consider that what amount a DSA should charge. This is his service, he can make amount whatever he wants to make.some charges 1% and some can charge you upto 10% as well. It also depends in which city you stay, In cities like Nagpur , Pune etc the charges are higher than the Cities Like Bhopal , Indore etc. And on other hand some do it for free as well as they got their payment from bank only.It also depends on your documents, clearer the documents lesser would be charges. Owning A business in Banking and Finance Industry, I would Like to suggest you to search for best DSA or Finance Company atWelcome to 18Loans here you will b adviced the best DSA in your city.Thankyou!
How do I open current account?
You need to following document for current account .Light bill of office or factoryPan card of companyPan card of the owner or signature authority holdeeOwnership deed or rent agreementCompanies resolution latter for signature authorityShop and establishment certificatePhotos of all partnerCompanies register certificate if company is LTD or Pvt LTD9. Residence proof of all partner or director10. GST registration certificateSubmit all document by duly signed of concern person will get current account in few days
What is the process involved in getting a microfinance loan?
Most MFIs lend through Jlg model these days. There are very few MFIs that lend directly to individuals for microenterprise funding. Typical loan size is 15000 and max allowed after subsequent cycles is 1 lakhs.Process is straightforward. Approach an MFI loan officer or your local MFI branch with intention to borrow. They will advice you to form a joint liability group. You form a group, learn about joint liability, formalize yourself as a group by signing on joint liability agreements, and most MFIs require group members to be present in branch as cosignatories before loan is disbursed to an individual. There is a moratorium period equivalent to repayment frequency and you are required to approach Mfi branch on repayment days to deposit your Installment.Loan rates would be about double of what a nationalized bank would charge for personal loans. Typically around 25% pa.There may be group trainings as required by MFI before loan ticket size graduates to higher slabs.If you can avail loan from a nationalizedbank, avoid approaching MFIs as ticket size is small and interest rates very high.
Is Alexandria Ocasio-Cortez a communist?
Yes. But they don’t call themselves communists. They call themselves “Progressives” or “social engineers”.This young lady pandered to the poor and mostly uneducated in her district. They will vote for anyone who will dish out government money. Case closed.Can we afford to pay for all her programs? No.The Soviet Union, Cuba, China and other tried this economic plan and went broke.The entire worldwide experience with socialism showed failure after failure.Her plans:1- Abolition of ICE. She wants open borders and plans to keep the illegals here voting for her. Plus her rich entitlement programs will bring will bring in droves. Just like baiting bees with honey.An est. 125 million will immediately come to the US with open borders. Most won’t speak english or have job skills. How do we employ them? Oh, wait….2- Federal jobs guarantee for all. Same as the USSR, Cuba etc. Half will dig holes and the other half will fill them. All will be paid and their work will add to the GDP.3- Medicare for all. We have it. Hillary Clinton said the cost is crushing.The level of health care ( coverage grant) is carefully never discussed. All the band aids you want but heart valve surgery will put you on a 5 year waiting list.4- Cancel outstanding loan balances for education. What about for people that spent 10 years paying it off ? Screw them, they were fools for being hard working and being honest. I took 10 years to pay my loans and had a family while paying the loans.5 - Free housing provided by the government.She might as well add she will give a tax cut for all. Since there is no end to goodies being offered.She wants us to be the new Roman Empire giving free bread and circuses for the people.Open borders Congresswoman Ocasio - Cortez advocates will cause this:Albanians coming to Italy in 1991: This was just one ship. These poor folks had no food in their stomachs and no money in their pockets. They didn’t speak Italian.Italy had the burden of housing them, feeding them, giving them medical care and welfare. This was done at extreme cost to Italians.
What is the process to convert my SBI savings account to salary account?
If you work for Central/State Govt., Central/State PSU, Army, Air Force, Navy, Coast Guard or Para-Military Forces. You just need to bring a letter from your Salary Disbursing Authority stating that this personnel having personnel number so and so is getting his salary to this account number maintained at your branch of bank.Submit this letter to your home branch and your Savings Bank Account will get converted to a Salary Account.However, if you work for some Pvt. Establishment then you need to check it through your HR department whether they have any agreement with SBI for providing salary package accounts to their employees and if it is not in place then you might ask your employer for such agreement.If they have agreement then the process is same as aforementioned take a letter from your employer containing employee number and salary account number. Submit this to your home branch and your Savings Bank Account will get converted to a Salary Account.Hope this answers your question!!!