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Cards

Different Types Of Credit Cards In India

Credit cards can make a lot of things easier. With these, you can buy things on credit every month and pay off the balance at the end of the month. Credit card companies usually let you pay either the full balance or a set minimum amount each month. In India, credit cards have been becoming more popular than debit cards. There are many types of credit cards to choose from. Each card is different and meets a different need. The benefits that come with these are also different. In this article, we will discuss the various credit card types and their benefits. [B-01] Silver Credit Cards A silver credit card is the first premium credit card you can get. It has more benefits than a regular credit card, but not as many as a gold or platinum one. People who get a salary and want premium perks can apply for a silver credit card. Most of the time, the card has no fee or a very small annual fee. Those who have good credit can apply. Gold Credit Cards Gold credit cards are high-end cards for people with high incomes. You can only get it if you have a good credit score. These cards have higher credit limits and can be used to get up to 100% of their value in cash. They offer better rewards on purchases and access to restaurants and airport lounges that other cards don’t. You can get cashback on travel and lodging. A gold cardholder gets more than just high rewards. They also get cashback offers, reward points, and free travel insurance. Some gold cards are also covered if they are lost or stolen. Business/Corporate Credit Cards Business or corporate credit cards can be applied for by corporations, limited liability companies, banks, government-owned companies, and partnerships. No matter how big or small your business is, you can get one of these if you need to keep track of your business expenses. Anyone with an office, no matter how big or small, can get a business credit card. Executives of a company can use these for the company. The company can limit how much credit employees can use each month to help them spend less. Entertainment Credit cards An entertainment credit card, as the name suggests, can save you money when you buy entertainment products. You might be able to buy one movie ticket and get another one for free. You can use points to buy lifestyle goods or trade them for rewards. When you book a trip, you can get perks. You can buy plane tickets, or hotel stays with the points you earn. Travel Credit Cards Most of the time, banks offer travel credit cards in partnership with an airline or travel agency. This type of credit card pays you points or miles for making both travel purchases and everyday purchases. Once you have enough points or miles, you can trade them for things like hotel stays and flights. When you make reservations through the associated airlines and booking services, you can get special discounts and perks with the associated credit cards. The cards have perks like air miles, rewards points, and access to airport lounges. Credit Cards for Women There are various types of credit cards for the needs and preferences of women. When you use one of these, you can save money at a wide range of stores, such as supermarkets, grocery stores, and department stores. In addition to discounts on clothes and accessories, women’s credit cards often come with extra perks like free dinners and other perks tailored to the cardholder’s interests and way of life. Prepaid Credit Cards A prepaid card is a type of credit card that lets you use money that you have already put on the card. Prepaid cards make it harder to spend more than you have. They are safer than cash, easy to use and reload, and a good alternative to credit or debit cards. You can put a certain amount of money into an account at the bank. This amount becomes your credit limit. You can swipe the card up to this amount. Every time you pay with your card, the amount is taken out of your account. Student Credit Cards Student credit cards are made for college students or people who want to go to college. The interest rate is very low, and these can be used for five years. To get the card, a student must be at least 18 years old. Compared to other credit cards, these have very low credit limits. The goal is to keep the student from spending too much and getting stuck in a cycle of debt. The customer does not have to show proof of income to get a student credit card. Many banks and credit unions now offer student credit cards as an extra service. Subprime Credit Cards People who don’t meet the usual requirements for a credit card may be able to get a subprime credit card. Most of the time, these people have low credit scores. People who lend money to people with bad credit are often given “second chance” loans. People with low credit scores, missed loan payments, or bankruptcies are given these cards. The credit limit on these cards is very low, and the interest rates are very high. These credit cards in India are only given by a small number of banks and other financial institutions. Virtual Credit Cards A virtual credit card is a type of credit card that can only be used once and only exists in digital form. It can only be used to make virtual purchases. This keeps fraudulent charges from being made to the real credit card accounts of users. Advantages of Virtual Credit Card: Virtual credit cards are safer than regular ones because they don’t give the vendor access to your personal information. These are given to people who don’t have credit cards They make it easier to buy things online Cardholders can immediately block their virtual credit cards in case of a threat If your virtual credit card runs out of time and you still have credit left, it will be moved to your main credit card Banks and credit card companies offer virtual credit cards at no extra cost Virtual credit cards can be used for all kinds of transactions, both at home and abroad. [B-02] Conclusion Users should know everything there is to know about fees and interest rates on credit cards. In India, there are many types of credit cards to choose from. It’s up to you to decide which option is the best. You should think about what you want, research, and then choose a card. With the information in this article, you should be able to choose the credit card that meets your needs the best. Visit Piramal Finance for easy and customised credit card and personal loan solutions.
08-11-2023
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Other

All you need to know about NSC calculator 2025

The government has started a Tax Relief scheme that will help medium and small-scale lenders. The lenders will invest and save for the future. The money will be invested for 5 years. They can put money in any bank or post office. For this, they will get a certificate on their savings. They can take relief with section 80C in a Tax return. Experts are available for NSC Calculation. They will help with the calculation. The government has made it easier for people living in villages to save their money in post offices. Let’s further understand the calculation of the NSC and SWP Calculator. [B-01] Benefits of an NSC Calculator Calculating NSC interest amounts can be very time-consuming First, you will add interest for 6 months in the actual amount After five years, interest and principal will be paid NSC Calculator will help you calculate your unpaid amount. The benefits of the NSC Interest Calculator are: Ease of Use: An NSC Calculator is easy to use. You can enter the amount, click on calculate and the result appears Time-Saving: The National Savings Certificate Calculator saves you time. No manual work is required, the calculator does the math Precision: NSC calculators are always correct and precise Plan for the Future: You can accurately plan your future finances The NSC calculator returns the exact amount of invested money for 5 years Free Use: NPC calculator is free of cost. You can use it as many times as you need Characteristics of the National Savings Certificate (NSC) Small Investment: NSC accepts investments of Rs 100 and above. It makes it easy to invest Bonds: NSC guarantees returns to you on your amount saved. You can expect a regular income Compounding Power: You can reinvest the interest earned. Interest can be earned in the same period Amount after maturity: Account holders receive the total amount on maturity. There is no TDS for NPC payments. However, interest is taxable How Can I Get Money As My NSC Matures? Money can be withdrawn only when it matures. You can also choose to redeposit it in the bank. When you redeposit money, it will yield interest. Interest will be the same for two years. After that, there is no return on investment. Is It Possible to Cancel Before the Due Date? You cannot withdraw from the National Savings Certificate. It cannot be done before maturity. Early withdrawals are allowed only in the case of death. One can take money by court order. What is the Tax Form for Investing in NPCs? Investments in NSCs can get tax relief under Section 80C of the Income Tax Act. Interest earned during the period is added to the initial investment. It is also tax-free. For example, if you invest ₹10,000 in NSC for one year, the same year’s tax relief can be earned. From Year 2, tax claims plus interest will be added. Amount invested in last year will be earned in the current year. The tax is not deducted at source (TDS) on NPC investment. However, you must pay taxes based on income tax for any unpaid amount. Short Note on Systematic Withdrawal Plan and SWP Calculator A Systematic Withdrawal Plan (SWP) works differently than a Systematic Investment Plan (SIP). This plan allows you to invest and withdraw fixed amounts side by side. You can choose the amount, intervals, and duration of the SWP according to your needs. How to Use the SWP Calculator? The SWP calculator will help you to know the amount and calculation time. Step to use : Enter the total amount saved Enter monthly drawings from mutual funds You must state the expected rate of return Then enter the period of investment SWP Calculator will show you the total It gives the final value of your investment. Advantages of SWP Calculator You can use the SWP calculator to calculate monthly income and income earned from saving. You can try out different withdrawal amounts in the calculator. It will show you your unpaid amount. SWP calculator enables you to calculate surplus SWP. SWP program – When to opt for SWP? SWP is the best retirement plan. Most people prefer old methods of savings. You can opt for old ways of investing capital. The amount received after retirement is saved. These old ways are taxable. SWP provides you with a tax relief way to get income. It allows retired individuals to earn. You can benefit from saving money. SWP is for individuals who retire. It is also for those with a family to look after. Education, travelling and finances are reasons for choosing the SWP. [B-02] Conclusion All the schemes help people to save. Legal people assist them in investing. Anyone can invest and get benefits. Often, the lenders are in doubt about the money invested. How will they save? That is why the Government has introduced the NSC calculator and SWP Calculator. To know more about these calculators, visit the Piramal Finance website. It will help you know more about other products and services, especially credit cards and personal loans, as well.
08-11-2023
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Other

All You Need To Know About CA Salary In India

Chartered Accountants are experts in financial accounting and reporting, management accounting, economic planning, and capital formation. A CA is important to any business because they keep all valuable information. So, the CA salary in India is the most important thing for people who want to become CA. They have a proper education to give clients good advice about taxes, business, the law, and the stock market. In the business world of today, Chartered Accountants are in high demand. When talking about the economic growth of a country, they are often called “partners”. CA salaries vary from company to company and depend on how much experience the person has in the field. [B-01] Roles and Responsibilities of a CA Here are some roles and responsibilities of a CA: Company’s Financial Adviser Conduct Financial Audits Financial Accountant Safeguards the Reputation of the Company Perform Budget Analysis Management Consulting Path to Becoming a CA Chartered Accounting is mainly for students with a background in business, and students must know things like accounting, math, economics, taxation and law. This is a hard test; tens of thousands of students try to pass it every year. The salary in lakhs is why people want to become a CA. CAs get paid a lot of money and have a lot of responsibility, whether they work in India or elsewhere. College students are always looking for programs that interest them and that will help them make money in the future. Most people agree that choosing a career is one of the most important decisions you make in life, whether you were the best student in school or just an average student who had to work hard to get anywhere. Students who major in commerce often say that becoming a Chartered Accountant is their top career choice. The course is very hard and requires a lot of time and effort. The salary of a chartered accountant (CA) in India is good and many young people in India are interested in becoming one. When talking about the salary of a Chartered Accountant in India, the starting salary is around 6 to 7 lakhs, which can go as high as 40 lakhs. CAs in India make the most money at the Big 4. Chartered Accountants who work in countries other than India can get annual packages between 6 to 7 lakh rupees. Duration of the Course Becoming a Chartered Accountant takes a long time, as most students and members of the public know. It’s important to remember that this isn’t true for everyone. On average, this is how long it may take for a person to become a CA: If you enter through the Foundation Course after 12th grade, you can expect to spend about five years Students who go straight to the Intermediate level should expect to spend about four years Salary of a CA In India, a CA’s salary depends on the industry and the company they work for. Getting a job in the public sector can help you feel less stressed and give you a set schedule. But a CA who has worked for a multinational company should expect to be paid more. Even though the pay is low, a CA working for a government company will have access to great facilities. Salaries of a CA in Every Organization PSU’S Businesses are owned by the government, which also runs them. ONGC, HPCL, BSNL, and other companies are some examples. They have a pay plan comparable to what other CA companies offer. As a CA in India, you can usually expect to make between Rs. 6 lacs and Rs. 15 lacs. IT Companies Tech giants like Infosys, Wipro, and Microsoft hire many CA graduates. They have a team of people who check things out and are ready to go. In the IT industry, CAs can make between 7 and 10 lakhs rupees per year. Banks Chartered Accountants who have just finished their training can choose from many different bank jobs. Large financial companies and banks like ICICI, HDFC, and others pay their employees between 5 and 10 lacs per year. CA Companies There are many accounting firms in India where Chartered Accountants can find work. Adding more CAs also increases the number of audits of those CAs, which is a nice bonus. A CA can make between 10 and 15 lacs per year in these firms. How Can a CA Ensure They Get Paid Well? Get Good Results in the CA Exams: If you do well on the CA Exam, your chances of getting a good salary in India will increase Learn As Much As You Can: Information is power. You can be paid more if you have well-thought-out ideas and a firm grasp of your subject matter. This will help you get a good salary as a CA in India Few Attempts: Jobs are hard to get because, unless you have great references, the number of times you apply for a job is a big part of whether or not you get hired. The chances of getting a good salary and job depend on where you get hired. Get the Best Grades on your Last Test – Your grades from each level add up, but the most important ones to get a good salary in India are the ones you get in the CA Final Exam. Great Real-World Experience: Many students take on “fake” article ships in the hopes of passing the CA Final on their first try. But they don’t have the experience they would have had if they had done internships or apprenticeships. Get experience to be experienced. [B-02] Conclusion Indian students are inclined towards Chartered Accounting owing to the merits of the field. Many business students want to become CAs because of the salary the job offers. In India, a CA’s salary depends on some of the things we discussed. People with a degree in Chartered Accounting who want to start their own business might choose to work for a firm for four to five years to save up money for an initial investment, find clients, and gain experience before starting their practice, which usually takes two to three years. In case of any doubt, consult a financial expert like Piramal Finance and get business and personal loan solutions.
08-11-2023
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Calculator

Simple Steps to Calculate Net Working Capital

Working capital is one of the most critical parts of a business’s finances. It shows how much money a business has to run day-to-day. Working capital also shows whether a business can pay its bills on time. So, good working capital depends on good financial planning. The primary way to measure cash flow is by the net working capital (NWC). It tells in detail how stable and financially sound a company is. Net working capital is also helpful in managing assets. This is important if the firms want to do well in the future. By looking at the NWC formula and what it means, you can make the best choice when things are hard. [B-01] Importance of Net Working Capital Net working capital is a key part of a company’s ability to stay liquid. You can better meet immediate needs when you have more net working capital. A business should always have enough money to cover costs for a whole year. The net working capital of a company is bigger if it has more cash on hand. So, a company with a positive NWC is in a good position financially. Also, a negative NWC shows that money is tight. NWC helps a company pay off its current debts Net working capital tells suppliers, investors, and customers about a company’s liquidity A high NWC shows you know how to manage resources and capital well Net working capital helps a company grow in the future How is Net Working Capital Made Up? Net working capital is a great way to determine how well a business is doing financially. When you figure out your net working capital, you need to know the following: Current Assets Current assets are cash and other assets that can be turned into cash within a year. Current assets include cash, accounts receivable, inventory, costs that have already been paid, and other liquid assets. For example, your business has cash and cash equivalents worth INR 1,10,000. The business also has INR 50,000 in unpaid bills and INR 30,000 in other costs. All of these make up the current assets as a whole. 1,10,000 + 50,000 + 30,000 = 1,90,000 (current assets.) Current Liabilities Liabilities that are due shortly are called “current liabilities”. Accounts payable, short-term loans, liabilities that have already been paid, and other debts are all examples. Say your business owes INR 4,000, has INR 8,000 in accounts payable, and owes INR 15,000 on a short-term loan. The total amount of current debts is $15,000 plus $8,000 plus $4,000, which is $27,000. How Do You Figure Out Your Net Working Capital? Using the net working capital formula, you can determine how well the business can meet its short-term obligations. Use these steps to figure out your net working capital: Add up all of the current assets listed on the balance sheet, like cash, liquid assets, and accounts receivable Add up all the items on the balance sheet that are listed as current liabilities. It includes wages, interest, sales tax, and other bills that need to be paid Add up your current assets and subtract your current debts. The last number shows the net working capital of a business Net Working Capital Formula: Current Assets – Current Liabilities By excluding cash and loans, the Net Working Capital formula is NWC = Current Assets(minus cash) – Current Liabilities(minus debts) Net Working Capital Example Imagine a local store as an example. Its current assets and liabilities are as follows: Cash in hand: ₹ 25,000 Liquid asset: ₹ 15,000 Accounts Receivable: ₹ 10,000 Accounts Payable: ₹ 9,000 Accrued Expenses: ₹ 5,000 Other Debts: ₹ 10,000 You will now apply the Net Working capital formula to get the Net Working Capital. Net Working capital formula: Current Assets – Current Liabilities = ₹50,000 – ₹24,000 = ₹26,000 The working capital is positive because the current assets are higher than the current liabilities. This shows how the store pays off all its debts with its current assets. This shows how liquid the company is in the short term. How to Increase Net Working Capital? The following ways to increase net working capital work well: Paying Quickly When you spend money on a project, that’s the start of your operational cycle. When you get paid for a job, the capital cycle is over. As little time as possible should go by between the operational and capital cycles. If you wait weeks to send out invoices, it will hurt your cash flow and make it take longer for you to get paid. Streamline Production Processes Net capital working is changed by having too much inventory. So making the production process more efficient will help you sell more every day. A high selling rate keeps there from being too much stock and makes the net capital working go up. Use Your Accounts Payable Keeping good relationships with your debtors is often the best way to increase your net working capital. To do this, you must keep your credit score as high as possible. If you have trouble with cash flow, you might be able to negotiate longer payment terms if you have good credit and helpful contacts. But this is not a long-term solution to money problems that keep coming back. Transparency in the Process of Billing and Reporting If you are honest about billing and monitoring, you will see how your business is doing financially. With this method, you can do something if you have a gap in your cash flow or an unexpected expense. What Happens When Net Working Capital Changes? The cash flow of a company can be affected by changes in its net working capital. Changes in net working capital are caused mainly by new projects, investments, and the use of cash. The net change in working capital is very important for keeping track of changes in cash flow from year to year. Don’t forget that your net working capital will decrease if you take out big loans or lease equipment. By looking at changes in net working capital, you may be able to figure out what’s wrong and fix it to make more money. What are the Pros and Cons of Net Working Capital? Consider the pros and cons below when you figure out your net working capital. Pros: You have more freedom if you have more net working capital. It lets you take care of customer orders, grow your business, and put money into new products and services. It also helps your business when it needs a little more money. Net working capital is essential, but if you have too much of it, it could slow the growth of your business. A net working capital balance sheet shows that a company either doesn’t know about growth opportunities or isn’t going after them. Cons: Negative working capital has a lot of harmful effects, such as the chance of paying suppliers late. If you can avoid paying your bills late, you might be able to lessen the impact. Repeated overspending or an increase in public debt hurts your business. [B-02] Conclusion Net working capital is a way to measure a company’s ability to pay its bills. If your company has positive net working capital, it has enough cash to pay its short-term debts or put some money toward growth. Working capital calculations also make it easy to figure out the cash flow of your business. Last but not least, your company’s success or failure will depend a lot on how well you use your assets. You can learn more about net working capital on the Piramal Finance website. It will help you judge the quality of their goods and services.
08-11-2023
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What is Working Capital and What Are its Types?

Working capital meaning is that it is the gap between a firm’s current assets and debt. It comprises cash that flows in and cash that flows out. It determines a firm’s flowing assets. It is used to make payments. It helps in keeping the trade running. Current assets and current debt are vital forworking capital. The net working capital equation is the difference between existing money and current debt. Current assets can be converted into money within one year. Current debt is a commitment. It must be settled within a banking year. It may seem easy, but a firm cannot function without income. A firm must ensure they have ample money to cover its entire costs. Many firms fail due to a lack of finances. They don’t fail because of a shortage of gain. Please read this article to learn about the meaning of many kinds of working capital. Also, read how to manage them. [B-01] Types of Working Capital Permanent Working Capital Permanent working capital meaning is the money needed to make duty payments. It is used to convert goods or contracts into cash. It is often referred to as the running cycle. Many firms need a continuous remedy to fill this void. It is the least money vital to run a trade. It is also known as fixed cash flow. It is also called hardcore working capital. Temporary Working Capital Temporary working capital meaning is the capital that a firm needs at certain times during the year. For example, this money may be crucial during the holiday. It is due to the trade’s urgent needs. This need is regarded as temporal. The changes are based on the tasks of the firms and market tasks. It also implies that you need a loan for a short time. It is helpful to finance your firm. You may return it as soon as the income starts. Gross Working Capital Gross working capital meaning is that it alone does not provide an accurate view of a firm’s short-term money health. It does not prove its running skill. To better grasp a firm’s working skills, compare its current assets to its existing debt. That is, how well a firm uses its short-term investments. It is used to fulfil everyday banking needs. Net Working Capital Net Working Capital refers to a firm’s current assets surpassing its debt. These assets include cash, due accounts, raw materials, and completed goods lists. Traders with enough functional capital may invest and develop. The firm’s net working capital level indicates the firm’s liquidity working skills short-term money stability Negative Working Capital A working cash flow loss indicates negative equity, which harms firms. This working capital occurs when a firm’s current duty outweighs its assets. In other words, cash flow is considered toxic. It is retained earnings that fall short of current debt. The firm’s fixed assets are thought to have been purchased. They are purchased with the surplus of the current debt above existing assets. As a result, it represents the amount of short-term funding. It is used to fund the firm’s fixed assets. Positive Working Capital The surplus of current assets to current debt is referred to as positive working capital. It denotes long-term money. It is utilised to finance a trade’s existing investments. It includes terms such as equity, preference shares, interest income, long-term debts, and debentures. Regular Working Capital A trade’s regular working cash flow is the smallest amount of money vital to undertake its everyday work. An example is making a bill for salaries and wages in months. Another example is driving all the costs. These costs are needed to produce the company’s raw materials. Reserve Working Capital Reserve working capital meaning is that it is a form of fund a firm keeps aside for income demand. Traders use such money as a buffer against market risks. The reserve cash flow is a short-term money contract. Trade units form it to handle shifts or concerns. Special Working Capital A marked cash flow credit is an increase in temporary cash flow. It results from an unusual incident. It is not fixed. It only occurs on rare occasions. For example, prize functions happen yearly. It has a crucial cash flow to cover outlays. Specific working capitalcredit is the most vital option. It helps to cover the entire cost of these events. Yet, large corporations and enterprises can get collateral loans. Most small traders cannot do so. Seasonal Working Capital This cash flow refers to the otherworking capital. It is vital for trade during the busiest season of the year. Firms that engage in the production of monthly items must maintain net working capital. It can be seen as a reserve working capital. It responds to market volatility and sudden changes. Working capital’s meaning is a short-term increase in cash flow. It is only apt to firms that are impacted by seasons, such as umbrella and raincoat makers. Monsoon is a good season for them. Usually, their demand for net working capital would grow during that time or season. It is because of an increase in revenues and demands. It results in a fall as the collection of debts exceeds sales. Calculating Net Working Capital Net working capital is computed by subtracting current assets from current debt. For example, if a corporation has $100,000 in total assets and $80,000 in current penalties. Its net working capital is $20,000. Cash, due accounts, and inventory are typical types of existing assets. Payables, short-term debt payments, and the current share of deferred revenue are examples of current debt. [B-02] Conclusion Working capital’s meaning is crucial since firms need to stay afloat. In theory, even if a firm is worthy, it may go bankrupt. After all, firms cannot rely on written earnings. To cover their bills, those bills must be paid in cash. A firm’s net working capital can be increased. It is done by optimising its current assets. It includes cash savings, increased checklist reserves, and prepaying bills. It leads to a cash discount. It also helps in choosing buyers to provide credit to. Piramal Finance is an online platform allowing you to learn everything about working capital’s meaning. For other facts about personal loans, credit cards and financial management, check out more blogs on their website!
08-11-2023
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Mutual Funds

What are Hybrid Mutual Funds?

Hybrid mutual funds allow investment in two or more asset classes in the same fund. Your money may be put into different asset classes based on your selection. Apart from shares and debts, your money can also get divided among other asset classes like Gold Commodities Real estate Arbitrage FD-like instruments Each mutual fund has a particular combination in which your funds get distributed between assets and risk factors. You can pick any hybrid mutual fund that suits you. [B-01] Types of Hybrid Mutual Funds There are different types of mutual funds in which you can invest your money in. How your money gets invested differs from one type of fund to another. So, the risks and expected returns vary from one fund to another. As an investor, you should understand the features of each type of mutual fund before choosing one. Equity-Debt Allocation In this category of mutual funds, your money gets distributed in different percentages between equity and debts. You can choose which fund to invest in depending on how much risk you want to take. Some popular funds in this category are: Aggressive Hybrid Fund – In this fund, around 65% to 80% of your money is allocated to shares. The remaining 20% to 35% gets distributed to FD-like instruments. There is a high rate of return and risk here as a big part of your money is invested in shares. Investors who lock in their money for more than three years can get meaningful returns. Conservative Hybrid Fund – Your money will be distributed between stocks and bonds in this fund. Around 75% to 90% of your funds will be kept in FD-like instruments and bonds. The remaining 10% to 25% of your money will be held in stocks. This fund carries less risk as most of the money is in FD-like instruments and bonds. You will also earn higher returns than the bank’s FD rate for the same investment period. A 2 to 3-year investment in this fund may give you good returns. Equity Savings Fund – Your money will be divided equally among stocks, debts, and arbitrages. Fund managers will buy and sell stocks in different markets to minimise risk. You should invest in this fund for two to three years to get better returns than the bank FD rate. This hybrid fund best suits investors who want stable returns and low risk. Solutions Some people want to take less risk but want a high return on their investments. The mutual funds listed below are ideal for such investors. These funds carry medium risks and may give satisfactory returns. Dynamic Asset Allocation Fund – This fund is also called a Balanced Advantage Fund. In this fund, your money gets divided between debts and shares. Your fund managers will increase or decrease your portfolio depending on the market. The main aim here is to give you good returns on your investment. A lock-in period of more than three years will help you to get a profitable return. Multi-Asset Allocation Fund – Your money will be distributed among three asset classes. You can choose how much you want to invest in each asset class. You can put in a minimum of 10% or a maximum of 80% in one asset class. You can invest in gold, debt, equity, or real estate. You can also invest in any other asset class allowed by SEBI. Holding your money in this fund for more than three years can give your good returns. Others The Arbitrage fund is the only fund listed in this category. This fund has a special feature that makes it unique. In this fund, your money is invested in both the cash and the future market. Arbitrage Fund – You can earn good returns with this fund by buying and selling shares in two markets. Your fund managers will buy stock from the cash market at lower prices. This stock will be sold for a higher price in the futures market. This fund has a lower risk even though your money is in the share market. This is because the fund managers will know the stock prices in both markets. In this fund, around 65% of your money is put in shares and other instruments. You need to leave your money in this fund for 1 to 3 years to get profits. Benefits of Hybrid Mutual Funds Diversity – You can distribute your money within a single asset class. You can put your funds in shares, debts, gold, real estate, or arbitrage. With a single investment, you can get exposure to different asset classes. Medium-term goals – Hybrid funds are a great choice for investors who have medium-term goals. You can get good returns even if you invest for just three years. These funds carry low risk and are ideal for beginners. Better returns – Investors often get better returns on hybrid funds than the bank FD rate. When you compare your returns to the bank FD rate on your deposits for the same duration, you will see that your returns are higher than the bank rate. Lower risk – Hybrid funds carry a lower risk than other investments. This is because here, your money gets divided among different asset classes. This helps to lower the risk and increases the chances of earning good returns. Due to this reason, hybrid funds are the best investment option for beginners. Professional management – There is less stress when you invest in a hybrid fund. Your fund managers will keep track of your money for you. You don’t need to check the share markets and make transactions. Your fund managers will do this job for you to ensure good returns. They will monitor the share market to keep track of your investments. Your fund managers will buy and sell shares depending on the market conditions. [B-02] Conclusion Read more related blogs on the Piramal Finance website, or explore our financial products and services, such as personal loans, credit cards, and financial calculators. You can learn more about hybrid funds and can speak or chat with our financial advisors to clear your queries. You can also ask them to suggest the best hybrid mutual fund for you. Log in to the Piramal Finance website for more details.
08-11-2023
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GST

How to Make GST Payments Online in India?

Firms must calculate the amount of tax to be given in cash after removing the input tax credit. The GST payment process was implemented so that all taxpayers pay GST the same way. Each self-employed person or company owner active in purchasing and selling items & services must file GST returns daily. The main goal of the whole GST online payment procedure is to ensure transaction openness & access. This article explains the steps to take to complete the GST payment. [B-01] What Exactly Is GST payment? The GST payment refers to the deposit of the GST amount owed by the firm regularly. It is among the most vital needs for a firm to stay legal. Per the norms, each listed regular taxpayer must pay GST on the 20th of each month. He must also fill GSTR-3B form monthly. GST payments may be made online, ensuring a smooth and fair process. Different payment systems apply to different types of taxpayers. Different types of taxpayers must adopt some payment systems, as shown below: Ordinary Taxpayer The PMT-06 challan is vital for normal taxpayers to make cash ledger payments. This is needed when they file the GSTR-3B, which contains all the vital details. They may also induce the challan & make payment before or after logging in. Quarterly Taxpayer This type covers taxpayers who have opted for the QRMP Plan. The tax for the initial two months of the quarter will be submitted via the PMT-06 challan. The payment will be paid during the quarter’s final month when filling out the GSTR-3B. In the first & 2nd months of the quarter, the tax has to be paid by the 25th of the following month. Taxpayer with No GST Return Such taxpayers have no buy, sale, or tax due for the period, whether it be month or quarter. As a result, they are not forced to pay or create a challan. A Taxpayer Who Is Part of the Composition Plan These taxpayers must describe their quarterly sales or turnover & create the CMP-08 challan to pay tax. In the Composition Scheme, for instance, the tax due for the April — June quarter must be paid by the 18th of June. How Can a Person Pay Their GST Online? Below is a step-by-step guide to making the GST payment digitally. Set off the tax due with the credit in the digital credit sheet. Put money in the digital cash ledger to cover the rest tax duty. Make a challan for GST payment – A challan for GST payment may be made via Form GST PMT-06 from the GST payment site. The challan must include the sum paid for interest, tax, fees, fine, or any other sum. The printed challan would be usable for 15 days. Submit the GST payment via the below methods: Internet banking via approved banking firms. Approved banks accept credit or debit cards. Any bank may use National Electronic Fund Transfer or Real Time Gross Settlement. OTC (Over The Counter) payment by approved banks for payments. Cost is up to Rs10,000 per challan every tax period, in a cheque, cash, or Demand Draft. CIN creation & credit to digital money ledger – when a dealer’s payment is paid to the relevant federal account, the Challan Identification Number is produced. It is shown on the challan on the GST site. The money would be paid to the person’s Digital cash ledger upon receipt of a CIN. Later Completion of GST Online Payment The taxpayer can finish the payment using a debit or credit card. Payment is made via net banking or at a later date on an earlier filed challan by making these moves: Step 1: Upon login to the GST site. You must Navigate to the ‘Services’ page, then ‘Payment,’ and finally ‘, Challan history.’ Step 2: From the set of CPINs given, pick the right CPIN by clicking on the hyperlink. Step 3: Select a bank from the lists of bank names given in the dropdown menu. As desired, finish the payment via credit, debit card, or net banking. Step 4: After properly completing the payment, the CIN receipt is given. The digital cash ledger is also automatically revised. Creating a GST Challan Using the GST Site On the GST site, the user may issue the challan in two aspects. Users can do this with or without signing in to their GSTIN profile. The following actions must be taken before entering into the GST system to create a challan: Pick the ‘Payments’ tab on the GST portal’s site. It is under the services category, & then tap on ‘Create challan.’ In the event of a normal taxpayer, enter the GSTIN. Users can enter the ID of a temporary person or tax filer. Enter the captcha code. Fill in the blank columns with the proper amount for SGST, IGST, or CGST. Pick the relevant payments system & bank from the listed choices. Re-enter the GSTIN or ID for challan creation & click ‘Proceed.’ To download the created challan, pick the ‘Download’ tab. Deadline for Making a GST Online Payment Users must calculate the deadline for GST payment from the day of challan generation. In contrast, offline payments may be made 15 days after the challan is generated. Online payments must be made instantly. The below steps must be followed during challan creation in the event of GST online payment: Net banking should be selected as the payment method. After choosing the bank’s name, tap on the ‘Generate challan’ tab. The Common Portal Identification Number will be issued as a result. If a challan is created without signing in, taxpayers should pay it immediately. If a challan is created after logging in, the taxpayer has up to 15 days to complete the payment. [B-02] Wrapping Up In brief, the GST payment method & GST payment plan are vital for every folk to stay compliant. To make GST payments online on time & continue their work in a hassle-free way. Every firm must be aware of the required GST payment forms. The firm must perform the proper GST payment calculations. They must keep to the GST payment dates, & properly pass the relevant GST payment tokens in their records. One may pay their GST either offline or online at their leisure. For more related data, visit the Piramal Finance website and explore the services and products on offer, like credit cards and personal loans.
08-11-2023
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Dream Mobile

Refurbished Apple iPhones At Low Prices Online

The Apple iPhone is the most desired smartphone in the market today. Apple’s iPhones are often considered to be the greatest smartphones in the market due to their speedy processing, constant software updates for several years, attractive form factors, superior camera quality, and user-friendly ecosystem. The iPhone is a trustworthy device that aids professional and personal endeavours alike. A brand-new iPhone, though, may be priced out of your range. If you want to get your hands on an iPhone but are concerned about the price, our list of the best-refurbished iPhones may be just what you need. [B-01] Refurbished iPhones are identical in performance and reliability to brand-new ones. You can save even more money by purchasing a refurbished phone, which is one of the lesser-known items available on EMI. Do you have trouble deciding which iPhone to buy? Just relax! Look no further for a list of the top-rated refurbished iPhones on the market! Here is a collection of the best-refurbished iPhones currently available. Buy the perfect Apple iPhone refurbished from the options below. 1. Refurbished iPhone SE (2nd Generation) Apple launched the next-generation iPhone SE in April 2020. Not too long ago, the second-generation iPhone SE was released. It has a fast processor, a lot of features, and a traditional home button with Touch ID. The iPhone SE is the smallest and least expensive iPhone model you can buy right now. The SE is a great choice if you want a small phone with cutting-edge features, a good camera, and the ability to use two SIM cards at once. All of the biggest online stores sell refurbished iPhone SEs in great condition at substantial discounts. iPhone SE 2020 features: Display: 4.7-inch Retina HD screen with True Tone and playback support for Dolby Vision and HDR 10. Processor: Apple A13 Bionic RAM: 3 GB Storage: 64 GB, 128 GB, and 256 GB Battery: 1821 mAh, Camera: 12MP wide-angle camera on the back with f/1.8 aperture and support for Portrait Mode, Portrait Lighting, and next-generation Smart HDR. The back camera can record 4k video at up to 60 frames per second. Connectivity: 4G, Bluetooth, GPS, WiFi, Hotspot, USB 2.0 OS: iOS PROSCONSEasy portabilityOne back-facing cameraSuperior camera performance in natural lightAverage battery lifeAllows for the latest iOS upgrades The average price is Rs 30,000 2. Refurbished iPhone 11 Apple released the iPhone 11 in September 2019. Despite being the affordable 11th-generation iPhone, the model is impressively high-end. The A13 Bionic processor from Apple sets this phone apart. It’s a good buy considering the quality of the camera and screen. Specifications: Display: Liquid Retina HD display. All-screen LCD multi-touch display with IPS technology that is 6.1 inches across. 1792 by 828 pixels and 326 pixels per inch (PPI). Processor: A13 Bionic Chip RAM: 4 GB Storage: 64 GB, 128 GB, 256 GB Battery: 3110 mAh Camera: Dual camera 12MP wide camera, 12 MP ultrawide camera, 12 MP selfie camera OS: iOS 13 ProsConsLong-lasting battery lifeCharging is slowSuperb results from the cameraHigh costDimmer setting The average price is Rs 35,499 3. Refurbished iPhone XS Apple’s iPhone XS smartphone was released in September 2018. It has a high-quality camera and durable construction. It has a brilliant display and a powerful A12 Bionic processor, making for an outstanding visual experience. If you’re looking for an iPhone refurbished mobile phone, this is a great option. Specifications: Display: Super Retina HD display. All-screen OLED Multi-Touch display with a diagonal size of 5.8 inches. Processor: A12 Bionic Chip RAM: 4 GB Storage: 64 GB, 128 GB, 256 GM Battery: B2658 mAh Camera: Dual Camera: 12 MP + 12 MP, selfie camera of 7 MP OS: iOS 12 ProsConsCrisp, clear screenHigh priceSupports Dual-SIMSluggish charging speedHigh-quality, and extremely dependable cameras The average price is Rs 50,000 4. Refurbished iPhone XS Max The XS Max, which Apple released in September 2018, is the most expensive phone in its X line. You get the best of both worlds with the iPhone XS Max: powerful and stunning. The XS Max is the best choice if you want a powerful phone that you can get for your money. A refurbished XS Max is the way to go if you want one of the best phones on the market but don’t want to spend as much. Specifications: Display: Super Retina HD display. All-screen OLED Multi-Touch display with a diagonal size of 6.5 inches. Processor: Hexa Core Apple A12 Bionic Processor RAM: 4 GB Storage: 64 GB, 128 GB, 256 GB Battery: 3174 mAh Camera: Rear camera 12 MP + 12 MP, front camera 7 MP OS: iOS 13 ProsConsExtremely high-quality camerasExpensiveTo use two separate mobile phone networks simultaneouslyQuite difficultExcellent performanceIndia’s average performance for first-party apps The average price is Rs 43,000 Overall best Refurbished Apple iPhones Overall, iPhone 11, iPhone XS, iPhone 8, iPhone SE, iPhone XR, iPhone 8 Plus, iPhone 7 Plus, and iPhone XS Max are the best refurbished Apple iPhones available in the market. Their price ranges from Rs.18,000 to Rs. 50,000, [B-02] Conclusion Now that you’ve looked at our list, it’s time to buy the best Apple iPhone that meets your needs and fits your budget. The Piramal Group is a multinational company that works in many different fields around the world, such as the pharmaceutical industry, the financial sector, and the property development industry. The Piramal Group is dedicated to growth that benefits everyone and is based on ethics and values. Read more related blogs on the Piramal Finance website, or explore our financial products and services, such as personal loans, credit cards, and financial calculators.
08-11-2023
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Cards

All you need to know about different types of credit card in India

What are Credit Cards? A credit card is a financial tool that allows customers to borrow money. The customer uses borrowed money to buy goods and services up to a specific limit. The customer repays the funds at the end of each month. If you want one, know about the various types of credit cards available in the market. Choose a credit card according to your need. [B-01] The different types of credit cards include Fuel Credit Card Travel Credit Card Business Credit Card Entertainment Credit Card Platinum Credit Card Balance Transfer Credit Card Credit Card for Women Virtual Credit Card Read on to understand these different types of credit cards in detail. 8 different types of Credit Cards Fuel Credit Cards: For every transaction, you earn some reward points. These reward points are the fuel points that can be used for refuelling. Moreover, banks offer cashback and free fuel offers. Benefits: You can use these fuel points for extra petrol You also get activation bonuses You can also get entertainment benefits, dining offers, hotel and wellness offers, etc These cards are most useful for daily train and metro commuters Some Fuel Credit Cards are: IndianOil Citibank Platinum Credit Card IndiaOil Citibank Titanum Credit Card 2. Travel Credit Cards: Travel credit cards allow you to enjoy travel benefits. Every time you book travel through these cards, you get a chance to win travel points for your next trip. Benefits: You can redeem these for your hotel stay These cards also offer some non-travel-related benefits You can avail the benefits of travel credit cards not only in India but also abroad Some Travel Credit Cards are: JetPrivilege IndusInd Bank Odyssey Credit Card JetPrivilege HDFC Bank World Credit Card Citibank PremierMiles Credit Card Standard Chartered Emirates Platinum Credit Card Business/Corporate Credit Cards: Businesses, corporates, or financial institutions use business credit cards to separate their personal and business expenses. Moreover, the company allows its employees to enjoy the benefits of a credit card. Benefits: The benefits of using corporate cards include hotel stays and travel deals You can get insurance, discounts on fuel, and a free airport area You also get business savings plans, expense management, etc Some Business Cards are: HDFC Corporate Platinum Credit Card SBI Platinum Corporate Credit Card Kotak Corporate Platinum Credit Card Axis Bank MY Business Credit Card Entertainment Credit Cards: The entertainment credit card is the most enjoyable. Using these cards gives you discounts and rewards for entertainment purposes. Benefits: Every time you swipe, you earn a cashback or a “buy one, get one free” deal You can use rewards or discounts on other purchases, such as movie tickets and concert tickets They are also beneficial for amusement park tickets and other events Some Entertainment Credit Cards are: Kotak PVR Gold Credit Card Kotak PVR Platinum Credit Card HDFC Titanium Times Credit Card Platinum Credit Cards: It is the most useful card, as it gives you many privileges and offers. But, this card’s annual, joining, and renewal fees are higher than other types of credit cards in India. Benefits: Use Platinum credit cards for lifestyle, shopping, dining, and entertainment offers. Besides, these cards offer gift vouchers, accelerated cashback, reward points, and much more which add to the merit of having it. Some Platinum credit cards are: IndusInd Bank Platinum Select Credit Card SBI Advantage Platinum Credit Card Tata Platinum Card 6. Balance Transfer Credit Cards: If you have a high-interest credit card in your hands and it is difficult for you to pay the debt, you can transfer the available amount into the Balance Transfer credit card. This will make it easier to pay off debts. Benefits: Balance transfer credit cards have low-interest rates. The low-interest rates will make it easy to clear debt payments. Some banks offer an introductory 0% interest rate on this credit card. Some Balance Transfer credit cards are: ICICI Bank Balance Transfer Credit Card SBI Balance Transfer Credit Card HDFC Balance Transfer Credit Card Credit Cards for Women: Some banks design credit cards only and especially for women. These cards offer special benefits for women. Benefits: Every time you make a transaction using this credit card you can get shopping vouchers and reward points You can also enjoy fuel points, bonus reward points, insurance benefits, etc. Some credit cards for women are: HDFC Bank Solitaire-Premium Women’s Credit Card Kotak Mahindra Bank’s Silk Inspire Credit Card Citibank Rewards Credit Card 8. Virtual Credit Cards: A Virtual Credit Card (VCC) is the most convenient type of credit card because it provides easy transactions and security. Virtual credit cards have an online existence and are useful only for online transactions. Benefits: Virtual credit cards have no physical existence. That is why there are lesser chances of fraud They make sure online transactions are easy and safe The CVV(Card Verification Value) of these cards remains the same all year Some Virtual Credit Cards are: HDFC Bank Netsafe Card ICICI Bank Virtual Credit Card SBI Virtual Credit Card [B-02] Conclusion There are different types of credit cards in India that give different benefits. Before applying for one for yourself, read about the benefits and rewards offered. But, there are Terms and Conditions applicable on these credit cards. Go through them and choose the best one for yourself. In case of any doubts, consult a financial expert like Piramal Finance and get easy and customised credit cards and personal loan solutions.
08-11-2023
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