The Top Rated Growth Funds

A long-term fund is a diversified portfolio of stocks whose aim is capital appreciation with very little or no dividends. Most of these growth funds are at a higher risk but a higher potential for capital appreciation. These funds are volatile than other fund in nature which are not really expected to pay dividends. If you wish to invest in growth funds, then you are required to develop a tolerance for risk and a holding period for a period of about five to ten years.

This fund aims to achieve capital appreciation and revenue growth and mentioned below are a few of them:

• DSP BlackRock Money Manager Fund

The primary objective of this Money Manager Fund is to generate returns from a portfolio that constitutes of money market securities. You can invest over a short period and there is low risk while investing. The asset size of a Money Manager Fund is about Rs. 1878.47 Crores while there has been a phenomenal growth in the past year.

• IDFC Super Saver Income Fund - Investment Plan B - Institutional Plan (G)

This fund seeks to generate stable returns from a portfolio that invests in good quality fixed income and money market securities. The asset size is about Rs. 10.5 Crores while the minimum investment is about Rs. 5000. The average return for the past year is about 10.8 percent.

• ICICI Prudential Income Plan - Direct Plan (G)

This particular fund is to generate income in debt and money market instruments in order to maximize income by balancing the yield, liquidity and safety of the fund. The asset size is about Rs. 1709.84 Crore while the minimum investment remains Rs. 5000.

The fund returns over the past year is about 15.7 percent.

• ICICI Prudential Long Term Plan - Premium Plan (G)

Its asset size is Rs. 0.80 crore while the minimum investment is about Rs. 5,00,000. The fund returns for the past year is a growth of about 15.7 percent.

Things to Keep In Mind Before You Apply For SME Loans

If you wish to set up a small business or expand your existing business, then a Small and Medium Enterprise (SME) loan is one of the most preferred options in order to fuel your business aspirations. But before applying for a small business loan, one should be well-versed with the documentation work so as to sail through the entire procedure. Mentioned below are few tips that you can consider while preparing for your loan application.

• Research is the key to success

This is one of the most important steps that you should undertake that will help you pick the right small business loan. If you already have good relations with your bank, then rest assured because this can be one of the major reasons for receiving an approval for a loan. You research should include reading online reviews of companies and organisations that are touted as potential leaders. The most ideal situation would be to select a bank that has a great network and presence. This also requires one to constantly keep looking out for bank websites and read their terms and conditions for further insights.

• Reviewing

If you look through potential websites, you should look out for terms of repayment, tax benefits, loan tenure and other conditions before making the final choice.

• Your documents should be up to date

This is one of the major factors that banks take into consideration. You have to create a business plan that is internally approved. Also, you should make a note of the document requirement after which you should immediately start putting them together. Your income documents, PAN card details and bank statements are the necessary documents along with the following:

• Passport copy
• Loan application form
• Address proof
• Passport sized photographs
• Track record of repayment
• Professional qualification
• Bank statement of six months
• Financial record of two years (audited)
• Copies of partnership deed
• Proforma invoice of the equipment

• The Application

Make sure your application letter is free of errors along with your documents that will ensure brighter chances of an approval.

• Prepare yourself for the interview

This preparation is essential for you to present your business plan and ideas with confidence. You should provide clarity to the interviewer about how you plan to utilize the money in business. All relevant information should be provided to the officer along with a complete list of documents and material that will support your business requirement.

So increase your chances of receiving a small business loan by preparing in advance and following these tips.