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Monthly Archives: February 2017

Debt Consolidation

Here is all you need to know about finding the ideal debt consolidation agency to suit you:

  • Third Party Payment Are you sick of having to remember all your different accounts? With a well thought out debt management solution you are able to make a single payment to the credit counselling company. This means that money is distributed to your creditors once they have paid in full. These kinds of debt consolidation agencies do not make loans on your behalf, they do not settle debt either. Rather, they have arrangements that are already set with financial institutions, usually at a lower interest rate. These lower interest rates mean that instead of finance charges, your payment goes toward the balance.
  • Quality Debt Consolidation Agencies¬†When it comes to your finances and the wellbeing of your loved ones, it is imperative that you are incredibly careful when choosing your debt consolidation agency. The agency should be well organised, send statements and payments timeously and provide excellent support and education. If you have a bad feeling about an agency – you should go with your gut!
  • Debt Counselling Debt counselling should always be done before consolidation. You need to learn how to pay for your basic living expenses before you can commit to consolidating your bills. This is why consolidation should always begin with debt counselling. Debt counselling will initially assess your entire financial situation. Once this has been worked out, and if you have any cash left over after living expenses have been deducted from your salary, consolidation will offer payment options. Counsellors are knowledgeable and compassionate and understand just how delicate the situation is for you, so don’t feel intimidated by the process, be liberated by it. If you find that your counsellor is not helpful and compassionate, request another one immediately.
  • Effective and Efficient Debt consolidation is not difficult to understand and offers great relief when done through a well-established agency. While you are on your debt consolidation plan all of your payments will remain constant. This means that you never again have to be concerned with how much to pay every month as it happens automatically. You will pay out the same amount every month until your creditors are happy. Once an account is cleared the other accounts will receive a larger sum of payments – thus, speeding up the process, taking you one step closer to financial freedom.

African Bank provides access to affordable, responsible and convenient credit to improve clients’ standard of living. At African Bank, clients have access to a flexible range of credit options tailored to meet their unique financial needs, from quick loans and credit cards to funeral plans or even help with debt consolidation . African Bank is an authorised financial services provider and a registered credit provider (NCRCP5).

The Advantages Paying Service Taxes Online

Paying your taxes is an essential part of adult life. It is the responsibility and duty of every citizen to pay his or her taxes and it is illegal to do otherwise. It is a tax levied by the government to those who provide service and are not exempt legally from paying the tax. The rate of service tax changes from country to country, and each country is free to change it from year to year as is outlined in their annual budget.

People Who Should Be Paying Service Tax

Most businesses are required to pay service tax. If you are a service provider, then you, too, are liable to pay service tax. If you provide a service and charge service tax from your customer, then you are mandated to deposit that tax with the government.

How To Pay Service Tax

Different categories of payees have to pay their service taxes at different times. Thus, the date of deposit is different if you are an individual, a proprietor or a company. Next, the required form is to be identified and filled in at a recognised bank. There is a list of banks you can pay your tax at, and if you do not pay in the recognised banks, the tax paid will not be recognised. Thus, it is imperative to identify which banks you can pay at. Failure to comply paying of your service tax leaves you open to financial and legal penalties on top of which you have to pay.

How To Pay Service Tax

There are two main options available to you. Firstly, you can do it manually. You figure out where to get the forms, identify the banks where you can pay at, double check in case you are wrong, figure out which date you have to pay by and then, finally, stand in long queues for days till you can file. The easier way is e payment of service tax.

Why Should I Pay Service Tax Online?

For one, it is much easier than doing it manually in person. Filing your taxes is just a few clicks away, and nothing is easier than that. Secondly, correcting mistakes in the form is absolutely hassle-free. When you are opting for e payment you can file more accurately as well. You can safely and securely do your calculations is a relaxed manner, leading to less mistakes on the form. The form itself is more accurate as many calculations are automated, reducing the margin for human error. The entire process is private as well, and no one but you and the computer is there to witness the form or the filing procedure. You will also have the receipt on hand, and you can choose to do your e payment of service at whatever time of night and day that you please.

A Demat Account

A demat account is a bank account which serves the purpose of holding shares electronically. It is a requisite for people buying and selling shares regularly and dealing in stock exchange and stock markets.As per the Securities and Exchange Board of India (SEBI), shareholders and people dealing with more than 500 shares can’t deal in the stock markets unless they have a demat account.

Why do you need a Demat account?

A account is the best way to hold shares, just the way a bank account is for holding money. The best account is free of scams such as mutilated share certificates, postal delays, and bogus shares.

Advantages of holding a Demat account

Holding a demat account for share trading and stock exchange has various benefits. Few of those benefits are as follow:

Public shares are credited automatically and faster if you have a demat a/c. Since a demat a/c holds shares electronically, you can control your transactions through internet and email. Thus, it’s easier for you to manage shares in the long run. In case of a financial emergency, holding shares electronically in a demat accountare easy to liquidate when required. You can sell shares during the transaction hours on working days from 10:00 am to 3:30 pm. The payments from selling the securities are received very fast.In case you have to change your personal details in the demat a/c you hold, the process is easy and very simple. All you have to do is inform the depository participant of the change and your work is done. You can change your registered address, signature, Dividend Mandate, registration of power of attorney, transmission etc. via this process.

How do you open a Demat Account?

Share trading mainly happens through accounts. Thus, it is imperative that shareholders and people trading in the stock markets have a account. Here are some points that one must keep in mind:


A person needs to be 18 years old to be eligible to open a demat and deal in trades and shares.

Select a Depository Participant

Your depository participant can be a bank, a custodian, a broker or any financial institution that is ready to act as your agent. The best demat a/c usually has an effective depository agent who deals and transacts on behalf of the customer.

Application form

Filling out the application form for opening a demat account with a bank is just the beginning, but an important part of the process. Follow the given format and submit all the required documents with the application form.

Key points to remember while opening a demat account

It is essential to have a PAN card to have demat account

In case you don’t use your demat for a particular period of time, the bank has the right to close it.

Benefit of Owning an ATM Card

1. Easy access

All banks have their ATM machines scattered across major cities in India as well as in many towns. This allows one to access their funds easily at any point of time. One can also use their card to withdraw cash from another bank’s ATM machine however a small fee is charged. ATM machines also allow individuals to make their credit card payments with ease. An ATM card in India makes withdrawing money easy as well as providing the account holder with details about the remaining amount present in their account.

2. Safe

Using cards in India is an extremely safe option for account holders to use. As long as one does not disclose their card’s pin number, no one can access their funds. The ATM machine also has surveillance which ensures that suspicious activity is recorded. If you lose your ATM card, you can simply block it by calling the bank.

3. Convenient

Using an card is an easy way to access one’s funds. There are no middle men and one simply has to enter their pin code into the machine and type the amount of money they wish to withdraw. There are countless machines present all over the city which allow one to withdraw money from any part of the city.

4. Time saving

ATM cards in India make it unnecessary for the account holder to visit the bank each time. One does not always have to carry a lot of cash everywhere they go. They can simply go to Machine to withdraw the amount they require in a matter of minutes.

The cards are extremely beneficial for individuals today who do not have the time to constantly visit the bank to withdraw their money. One can make payments, check their account balance and withdraw sums of money with ease.