Effective November 23rd, 2008, NAAS will be requiring certain visitors to the website to register for an NAAS Access Card. This Card is for frequent visitors to the NAAS website who do not make any product or service purchases but who repeatedly visit and browse the website.
NAAS EAS/N2 Rules prohibit electronic loitering.
The current NAAS Access Card fee is $5.00
Those requested to pay, but who do not will prohibited from accessing certain public areas of the NAAS.ORG website, as well as the NAAS-NEWS.INFO website.
Wednesday, 26 November 2008
Know about interest rate being charged on personal loan
Most of us take personal loans but do not pay attention on interest rates being charged. There are some points regarding the interest rates such as what is period the lender charging the interest for and how the interest is being calculated?
The first question for what period is the lender charging the interest? Whether the interest is being charged is 2% monthly, 2% half yearly or 2% yearly. An interest of 2%, is compounded monthly works out to a yearly rate of almost 27%.
Then how the interest is being calculated? For instance a bank is offering a personal loan of Rs 50,000 at an interest of 12% p.a which is to be repaid over a period of 36 months. Therefore the EMI to repay the loan works out to Rs 1,890 p.m. Here the question arises how a bank can offer a loan at an interest rate of 12% per year, when the interest rate of home loans is similar.
The bank’s calculated EMI in the following manner — an EMI of Rs 1,890 p.m. means that for 3 years you will have to pay the bank Rs 68,040 (Rs 1,890 x 36). Of this the principal amount i.e. the loan you have taken is Rs 50,000. What remains is the interest. So an interest of Rs 18,040 (Rs 68,040 - Rs 50,000) will be paid over a period of 3 years.
Therefore the interest paid per year totals to Rs 6,013 (Rs 18,040/3). Thus an interest of Rs 6,013 p.a. on a loan amount of Rs 50,000 means an interest rate of around 12%. This way of expressing interest is known as the flat rate of interest. But this is not the correct way to calculate.
The actual interest should be 21.25%, which is 9% higher than what the bank makes it out to be.
Thus every time an when you pay EMI a certain part of the principal amount i.e. the actual loan that you had taken is repaid. Therefore, the interest at any point of time has to be calculated on the outstanding loan.
Thus this is the correct way of calculating interest and is known as the reducing balance method.
Sunday, 16 November 2008
"Approval-Seal" Scams
Approval-Seal scams have proliferated over the Internet. Beware of any scholarship search service sponsored by and/ or promoted by National Association for College Admission Counseling (NACAC), and National Scholarship Provider's Association., a/k/a/ NSPA
If an organization displays any sort of "approval seal" of these organizations, it is virtually guaranteed that their services are incomplete, heavily censored, and catered to "preferred listings" in the same way of the massive student-loan fraud investigated by the New York Attorney General.
Beware of any "approval seal" issued by a non-profit organization to a for-profit company. This sort of transaction is typically a back-handed way of paying a for-profit entity a fee to act in a manner that is otherwise and generally prohibited if the non-profit acted alone.
Such "Approval-Seals" often come with political overtones, and commercially-sponsored links to members of the non-profit. In various cases, such "Approval-Seals" may be akin to paying a fee to a reporter to write certain articles, or paying a radio station to play certain records.
Both NACAC and N.S.P.A. have ties to National Association of Student Financial Aid Administrators (a/k/a/ NASFAA). The office of the N.Y. York Attorney General has tied many members of NASFAA and NACAC to deceitful acts, and fraudulent conduct involving student-loan fraud. Both organizations have ties to the massive student loan fraud amongst its many members, and have ties dating back to 1996 to notorious federal informant Mark Kantrowitz.
In their literature, NACAC makes the claim that their Seal of Approval is "designed to help our audience make choices about the growing number of available admission counseling resources as they consider options beyond secondary school." This is crap. In our opinion, the seal is a for-profit technique designed to circumvent standard moral and ethical customs that traditional non-profit organizations should abide by.
As proof, what State Bar association is going to allow an attorney to sale or barter a "Seal of Approval" to for-profit businesses or private persons??
The business of "Approval Seals" by non-profit organizations is the backbone that led to the under-reporting and non-detection of student-loan fraud.
There are numerous public documents, and documents that federal agencies (U.S. Department of Justice, United States Postal Service, FTC, Dept. of Education) WILL NOT release under the Freedom of Information Act that implicate informant Kantrowitz with certain officials associated with NACAC, N.S.P.A., and NASFAA.
Until and unless these documents are made public, we must assume that any organization bearing the "Approval Seal" associated with NASFAA, or NACAC or N.S.P.A., is prone to suspicions and perhaps even fraud!!
Thank you!
If an organization displays any sort of "approval seal" of these organizations, it is virtually guaranteed that their services are incomplete, heavily censored, and catered to "preferred listings" in the same way of the massive student-loan fraud investigated by the New York Attorney General.
Beware of any "approval seal" issued by a non-profit organization to a for-profit company. This sort of transaction is typically a back-handed way of paying a for-profit entity a fee to act in a manner that is otherwise and generally prohibited if the non-profit acted alone.
Such "Approval-Seals" often come with political overtones, and commercially-sponsored links to members of the non-profit. In various cases, such "Approval-Seals" may be akin to paying a fee to a reporter to write certain articles, or paying a radio station to play certain records.
Both NACAC and N.S.P.A. have ties to National Association of Student Financial Aid Administrators (a/k/a/ NASFAA). The office of the N.Y. York Attorney General has tied many members of NASFAA and NACAC to deceitful acts, and fraudulent conduct involving student-loan fraud. Both organizations have ties to the massive student loan fraud amongst its many members, and have ties dating back to 1996 to notorious federal informant Mark Kantrowitz.
In their literature, NACAC makes the claim that their Seal of Approval is "designed to help our audience make choices about the growing number of available admission counseling resources as they consider options beyond secondary school." This is crap. In our opinion, the seal is a for-profit technique designed to circumvent standard moral and ethical customs that traditional non-profit organizations should abide by.
As proof, what State Bar association is going to allow an attorney to sale or barter a "Seal of Approval" to for-profit businesses or private persons??
The business of "Approval Seals" by non-profit organizations is the backbone that led to the under-reporting and non-detection of student-loan fraud.
There are numerous public documents, and documents that federal agencies (U.S. Department of Justice, United States Postal Service, FTC, Dept. of Education) WILL NOT release under the Freedom of Information Act that implicate informant Kantrowitz with certain officials associated with NACAC, N.S.P.A., and NASFAA.
Until and unless these documents are made public, we must assume that any organization bearing the "Approval Seal" associated with NASFAA, or NACAC or N.S.P.A., is prone to suspicions and perhaps even fraud!!
Thank you!
Thursday, 13 November 2008
GEO TRUST Security SSL
Some of you may have noticed that we have a secure SSL certificate the website inorder to better ensure that all e-commerce transactions are handled securely. We are currently integrating this feature throughout form-submitted pages throughout the website.
In Firefox, all pages are working fine. In IE, there are a couple areas we need to fix. Noneytheless, the transactions will work since they will ultimately go through Paypal.
Thank you for your patience. Please let us know of any problems or bugs.
In Firefox, all pages are working fine. In IE, there are a couple areas we need to fix. Noneytheless, the transactions will work since they will ultimately go through Paypal.
Thank you for your patience. Please let us know of any problems or bugs.
Monday, 10 November 2008
Interest rates on home, car and other personal loans set to fall
High spending consumers can now start planning for taking loans for various reasons as public sector banks and private banks too are going to reduce interest rates on loans therefore home, car and other personal loans are going to get cheaper.
Soon after the meeting with finance minister Mr P Chidambaram, public sector banks led by State Bank of
In the meeting with Mr Chidambaram, the heads of public sector banks had discussed ways and means to protect the growth momentum from possible adverse effects of the current global financial meltdown.
After the attending the meeting, the heads of banks including UCO Bank and IDBI Bank announced reduction in benchmark Prime Lending Rates (PLR) by 50 basis points. Before the meeting SBI chairman Mr OP Bhatt had said, “Interest rate cut is on our agenda”.
Other banks who have announced reduction in PLR by 50 basis points include the country’s third largest lender, Punjab National Bank, and UCO Bank, IDBI Bank and Union Bank of
Interest rates on all loans given by a bank, fixed or floating are linked to the benchmark rate therefore cut down in PLR is of very important. Increase and decrease in interest rates on car, home or personal loans depend on the increase or decrease in PLR.
PNB was the first bank to announce a cut in lending rates and the Union Bank of
While the largest private sector lender, ICICI Bank, sources said it will be reviewing the lending rates after watching the impact of the liquidity injection steps taken by RBI last week. On Saturday RBI had cut the short-term lending rate by 50 basis points and the cash reserve ratio by 100 basis points.
The meeting was held between the FM and the chiefs of the banks after the Prime Minister and the industry leaders had met to seek appropriate measures to enhance liquidity and other steps to create an environment conducive for lowering of interest rates.
Sunday, 9 November 2008
Congratulations to Barack Obama/Joe Biden
Finally, the Election of 2008 is over. John McCain, the decorated former prisoner of war, and his running mate Sarah Palin were drubbed off the court.
What mistakes did John McCain make, many ask?? Well, many pundits believe the first mistake was his choice of Sarah Palin. Let's face it, this woman was never the most intelligent, most gifted, and most experienced woman of the GOP. Her family is dysfunctional, and her record is frayed.
In TrooperGate, the facts revealed suggest that this Brunette Barbie influenced government officials to fire a hard-working man who divorced the bratty sister of Sarah Palin.
The teenage daughter of Sarah Palin became pregnant or was raped. No charges were filed, and it is still unclear who the real father(s) is??
The choice of Sarah Palin as his running mate made a mockery of John McCain's claim to put country first. He put himself first, and his country third or fourth. He wanted a female puppet to control, and that is exactly what he got.
McCain and his bimbo incorrectly thought that the young generation would embrace the same race and divisive politics of George Bush/Ronald Reagan. RNC spinmasters were wrong. Sarah Palin use smear tactics, and Nazi methods to discredit a man who is her superior.
How this woman became a U.S. governor is shocking?? I sincerely doubt and hope that the people of Alaska are not as backward, unsophisticated, and lacking in intellect as Sarah Palin.
What mistakes did John McCain make, many ask?? Well, many pundits believe the first mistake was his choice of Sarah Palin. Let's face it, this woman was never the most intelligent, most gifted, and most experienced woman of the GOP. Her family is dysfunctional, and her record is frayed.
In TrooperGate, the facts revealed suggest that this Brunette Barbie influenced government officials to fire a hard-working man who divorced the bratty sister of Sarah Palin.
The teenage daughter of Sarah Palin became pregnant or was raped. No charges were filed, and it is still unclear who the real father(s) is??
The choice of Sarah Palin as his running mate made a mockery of John McCain's claim to put country first. He put himself first, and his country third or fourth. He wanted a female puppet to control, and that is exactly what he got.
McCain and his bimbo incorrectly thought that the young generation would embrace the same race and divisive politics of George Bush/Ronald Reagan. RNC spinmasters were wrong. Sarah Palin use smear tactics, and Nazi methods to discredit a man who is her superior.
How this woman became a U.S. governor is shocking?? I sincerely doubt and hope that the people of Alaska are not as backward, unsophisticated, and lacking in intellect as Sarah Palin.
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