More articles for you

Your one stop place for everything related to finance and lending

Cards

Steps To Transfer Money From Credit Card To Bank Account

Credit card users are often unaware of the option to transfer money from a credit card to a bank account. Further, even cardholders who are informed regarding the availability of this feature carry inhibitions regarding its cost-intensive nature. To break this myth: using the credit card-to-bank transfer feature is about responsible borrowing. And for many, the process of transferring money from a credit card to a bank account is confusing. So, here’s a detailed guide to easily transferring money from this credit instrument to your bank account. [B-01] Know How to Transfer Money from Credit Card to Bank Account Transferring funds from your credit card to your bank account can be an elaborate process, but there are several ways to do it. You can choose either the online or offline mode to initiate a credit card to bank transfer of money. There are sub-options under each of these modes that you can choose from as your most preferred method of transfer. Online mode to transfer money from credit card to bank accountYou can choose from multiple online options to transfer money from a credit card to a bank account. Given below are some of the most useful and convenient ones.Transfer via payment walletsThe credit card to bank transfer via payment wallet is not a direct but a re-routed method of transfer. In this process, you first transfer the required funds to your preferred wallet and you transfer this amount again from your wallet to the bank account. The steps required to make this transfer vary from one wallet to another. Below given is an example of a credit card to bank transfer via the Paytm wallet, one of the most popular wallets used today for the purpose.Login to your Paytm mobile app or website.Next, initiate a funds transfer from your credit card linked to the platform to the wallet.Proceed to choose ‘Passbook’ on the home page and click on ‘Send Money to Bank’.From the available options, choose ‘Transfer’ and enter the bank account details.Verify your entries and select ‘Send’ to complete the transaction immediately.Netbanking transferYou can also use the internet banking service for a credit card-to-banktransfer of money. The steps taken for net banking transfer of money from credit card to bank account include the following. Go to the net banking page of your bank and log in. Next, visit the credit card section and check out the transfer option. From the available options, choose the most suitable transfer option for you and enter the amount. Proceed to fill in the necessary details in the form that opens and provide all information required to complete your transaction. Offline mode to transfer money from credit card to bank account In the offline mode of credit card-to-bank transfer, you can choose from two different transfer options. Each of them is explained below one by one.Through chequeYou can transfer money from your credit card to your bank account via a cheque issued to yourself as well. Complete the steps given below to transfer funds.Issue a cheque and enter the payee name as ‘Self’.Fill in other cheque details as required.Visit your nearest bank branch dealing in cheque encashment and deposit the cheque.The cheque transfer may involve an additional cost. So, check for the fees involved and proceed accordingly.Via phone callAnother way to initiate a credit card-to-bank transfer of money is through a phone call to your lending institution. It is a great way to access financing immediately and needs no internet connectivity. The steps to follow include – Make a call to your financial institution and request a fund transfer. Finalise the amount after double-checking. Follow the lender’s instructions to complete the transfer of funds to your account. Apart from these, you can also withdraw cash advances from the ATM using your credit card. The cash advance facility allows instant access to funds without any delays. However, the facility also attracts high-interest charges and can be a risky undertaking to go with. It is thus prudent that you compare the charges involved in cash advance withdrawal with those of funds transfer. As tempting as credit card usage can be, it is a useful financial tool that opens the avenue for thoughtful spending. It also helps with credit history creation. Plus, you get the opportunity to defer your high-value expenses to the future. You can pay for it in small amounts via EMIs divided over a long tenure, which keeps the financial burden low. Credit cards also come with loyalty programs that allow the cardholder to redeem any points earned. This helps save on purchases significantly over a long duration. Apart from savings and discounts, credit cards also enable big-ticket purchases via no-cost EMI financing. [B-02] Thus, while credit cards are useful spending tools, they also enable easy access to liquid financing. It gives them an edge over several other financing instruments. You must still make sure to initiate your credit card-to-bank transfer only when necessary. It is because credit cards follow strict bill payment policies. They also impact individual credit scores directly. Your credit responsibility thus holds true with every purchase that you make or money transfer you undertake. Given that the funds used are not exactly yours only subject you to greater financial responsibility. While using the card features, you must also make sure to pay the bills in time and in full. It leads to a complete restoration of utilised credit for the next billing cycle and also helps build your credit score. In case of any doubt, connect with a financial expert like Piramal Finance for valuable insights, or to get easy and customised credit card and personal loan solutions.
08-11-2023
Read More
Cards

The Top 10 Best Fuel Credit Cards in India in 2022

The rising cost of fuel is a result of the surge in the number of vehicles on the road. It’s impossible to control these costs without fuel credit cards, which can save you a lot of money in the long run. The best part about fuel credit cards is that they offer several benefits, including fuel waivers. Here is a list of the 10 Best Credit Cards For Fuel and the special features that have made them the best ones. [B-01] IndianOil Citi Credit Card IndianOil and CitiBank together introduced the IndianOil Citi Credit Card. This credit card is one of the best fuel credit cards, that can offer you several benefits and discounts. It also offers several discounts on products and services other than fuel, such as on Vivo, Tribe, Zomato, Amazon, etc. Card Highlights You get 4 Turbo Points each time you spend INR 150 No upper limit for reward points (even for non-fuel purchases) or surcharge waivers You can redeem points easily Good welcome benefits IndianOil HDFC Bank Credit Card IndianOil, in collaboration with HDFC Bank, has introduced one of the best fuel credit cards for car users. Not to mention, it is also a reward-based fuel credit card. But there is a limit to how many reward points you can get and a minimum transaction amount for the waiver. Card Highlights No specific welcome benefit The upper limit for non-fuel and fuel-related reward points Fuel in exchange for reward points at Indian Oil pumps ICICI Bank HPCL Super Saver Credit Card The ICICI Bank HPCL Super Saver Credit Card is one of the best credit cards for fuel in India. It has been launched jointly by ICICI Bank and HPCL. You can also make other non-fuel purchases through the HP Pay app. Card Highlights No upper limits for reward points on fuel and non-fuel transactions Welcome benefits include transactions on the HP Pay app Reward points are easily redeemable at any HPCL petrol pump. BPCL SBI Credit Card Bharat Petroleum, in partnership with SBI, has launched this fuel credit card which offers huge savings on fuel purchases of up to 4%. You can also use this fuel card to get a loan from SBI. Card Highlights Get a loan from SBI based on the credit limit Good reward points and no redemption limit You don’t need a specific petrol pump to get the fuel surcharge waiver An upper limit (1300 points) exists on the reward points Standard Chartered Super Value Titanium Credit Card This fuel credit card launched by none other than Standard Chartered, is suitable for purchasing fuel at any company’s petrol pump all over the country. Although, you do not get a surcharge waiver, there are several other benefits to using this fuel credit card. Card Highlights 5% cashback on paying specific bills Maximum cashback limit per month Reward points can be redeemed for discounts, coupons, or vouchers mentioned in the company catalog IndianOil Axis Bank Credit Card This card is one of the best fuel credit cards that has introduced EDGE reward points. These points not only have a great value (around 4% of the purchase), but it offers you several benefits like discounts in restaurants, booking hotels, or any buying merchandise like Flipkart or Myntra. Card Highlights There are no maximum rewards points for non-fuel purchases A 20% discount is offered at partner restaurants through reward points With reward points, the annual fee can be waived You can use these reward points for other merchandise on sites like Flipkart and Myntra or to book hotels too. The surcharge waiver will be applicable at any petrol station. HDFC Bharat Cashback Credit Card HDFC Bharat Cashback Credit Card offers several benefits for fuel and non-fuel purchases. And don’t forget that it has a very low maintenance charge, putting it on the list of best credit cards for fuel. From fuel purchases to grocery shopping and booking train tickets, you get access to an array of benefits when using this card. Card Highlights 5% cashback per month on all fuel-related purchases Nominal joining and renewal fees (INR 500 each) Cashback on recharges through the fuel credit card 1% fuel surcharge waiver on transactions of INR 400 to 5000 ICICI Bank HPCL Platinum Credit Card This is one of the best fuel credit cards in India, offering several benefits on fuel and non-fuel purchases. You can also get 2 reward points each time you spend INR 100, which you can use to book show tickets on BookMyShow or spend on shopping. Card Highlights 2 reward points on spending INR 100 each time Very nominal joining fees (INR 199 and applicable taxes) The annual fee can be waived based on the spending Reward points can be redeemed against fuel and other transactions Offers on BookMyShow HPCL Bank of Baroda (BoB) ENERGIE Credit Card This is one of the best credit cards for fuel and can only be used at any HPCL petrol pump. This card is loaded with benefits, such as high reward points for spending comparatively small amounts of money as well as attractive welcome benefits. Card Highlights 24 reward points for spending INR 150 on fuel-related purchases 1% waiver in fuel surcharge 25% discount on booking movie tickets 10 reward points for every INR 150 spent in department stores The card can be used at HPCL petrol pumps only BPCL SBI Card Octane This one is regarded as one of India’s best fuel credit cards, as it offers a huge joining benefit if you are a new customer. How huge? 6000 reward points huge! And the reward rate is comparatively higher than that of other fuel credit cards. What’s more? You can also access airport lounges as complimentary gifts. Card Highlights 25 reward points after spending INR 100 every time on fuel-related purchases 10 reward points after spending INR 100 for groceries every time Around 7.25% value back for fuel transactions Milestone benefits for the customers in the form of gift vouchers 6000 reward points as a welcome gift for new members Annual fee can be waived based on spending Customers can benefit from complimentary airport lounge access [B-02] Conclusion Looking for a credit card to minimize your fuel costs? The cards mentioned above can help you achieve this. However, if you seem confused about making the right choice, Piramal Finance can help you select the best credit card, based on your needs. Here’s another word of advice: go through several finance blogs and user reviews before deciding which fuel card suits your needs the best. All in all, remember, a fuel credit card must offer you surcharge waivers and other relevant discounts to help you minimize your fuel costs. In case of any doubt, connect with a financial expert like Piramal Finance and get the easy and customised credit card and personal loan solutions.
08-11-2023
Read More
Electronics

Top Reasons You Should Not Miss The COVID-19 Vaccine

Multiple diseases can be fatal to human beings. Bacteria or viruses cause most of them. There was a time when measles and chicken pox were considered fatal diseases. Thanks to vaccines, we do not have to worry about such diseases. Yet, we have often wondered about the power of vaccines until recently. During the massive global havoc caused by the COVID-19 pandemic, the only hope was developing a vaccine formulation. And it proved to be the answer to one of the biggest pandemics in history. Yet many people were against vaccinations, with anti-vaccine protests. Some protestors said, “We don’t want to inject anything like this into my body.” This has affected the medicine industry negatively. It has also declined trust in scientific experts and political leaders. [B-01] This is called vaccine hesitancy, where people fear vaccines. This happened more for new ones like COVID vaccines during the pandemic. The situation arises because of misinformation and a lack of proper knowledge. But vaccines, like the COVID-19 vaccines, are essential to individuals and the global community. It’s safe to say that we have surpassed the major pandemic period, but COVID-19 is not over. There are multiple variants around that are still affecting the human immune system. Your immune system is at risk if you are affected by any variant without being vaccinated. So, vaccination is the only way to fight the pandemic. For proper information, follow legitimate platforms. You can follow government-led educational platforms like the Cowin App, which ensures that people can get accurate information and reduce vaccine hesitancy. Reasons to Not Miss the COVID-19 Vaccine The sooner you get vaccinated, the better. The longer the virus spreads, the greater the potential for more lethal or contagious variants to develop. This puts everyone at risk. The Omicron, another new variant of COVID-19, is a painful reminder of this. While most countries vaccinate their populations against COVID-19, countries with low vaccine supplies have seen severe increases in infection rates. This potentially introduced many novel variants. When you become infected, your family may also be at risk. Usually, viruses spread through the air, water, etc. Viruses like COVID-19 are potent and can contaminate the air faster, so infants and older people are at greater risk. This is because of a lack of immunity. Now, when adults who are primary caregivers come in contact with infected people, they either get infected or become asymptomatic carriers. This increases the chances of affecting people, especially those with low immunity levels. Therefore, getting vaccinated is an important step to keep your family safe to a large extent. However, no COVID-19 vaccination gives 100% protection. So you must stay updated with the right information. Follow the Cowin App to know more. People with allergies can also get the vaccination. Multiple myths were circulating on multiple social media platforms about the cons of vaccines. One of them was why people with allergies should not take vaccines, etc. The CDC has issued an official statement to debunk such myths. According to the CDC, those who are allergic to particular foods, latex, or other common allergens can get the COVID-19 vaccine without fear. But you can tell your doctor if you have ever had a severe adverse reaction to any vaccine ingredients. However, there have been multiple tests before approval for any adverse reactions. Vaccines boost immunity. But it is no other immunity-boosting drink.While there have been many debates about the immunity system during the whole pandemic, many have misinterpreted the information. First, no magical drink can instantly improve the immune system. This is more true for young infants and older adults with low immunity. It takes a long time for the immune system to build after following the right lifestyle and a healthy, balanced diet. It keeps you healthy. But there is no proof that it prevents viruses and bacteria from affecting your body. Second, the COVID-19 vaccines are affecting and increasing your immune system. But it makes your body strong enough to fight against one certain disease. Here, it’s the COVID-19 virus and its variants. Drinking instant immunity-boosting drinks is not the same as taking vaccines. Therefore, take COVID-19 dosages to keep yourself safe from the deadly viruses. There are no COVID vaccines that can infect you with COVID. Many people mistakenly believe that you will also become infected because the COVID-19 vaccine contains a strand of the virus. Being infected with the vaccine’s inactive virus poses no risk because that is not how a virus affects the body. Safe for children, adults, and all age groups. All government bodies like the CDC and WHO have confirmed that people aged five and older can take the vaccine safely. Scientists completed clinical trials with thousands of adults and children before the CDC allowed their use and distribution in the public domain. For infected people, taking the vaccine will provide additional protection. Your immune system is at risk if you’re affected by a variant without vaccination. After your recovery, you may have developed some immunity. However, it is unknown for how long it protected you from developing the virus again. The protection provided by the COVID-19 vaccine after infection is greater than the immunity of those who had COVID-19 but weren’t vaccinated. Is the COVID-19 vaccine safe? Yes. All the vaccines against COVID-19 were safe. There were multiple trials and tests to evaluate the efficacy of these vaccines. Around 63.9% of people around the globe have received the COVID-19 vaccine with no major side effects. People have reported experiencing a slight fever, pain, and soreness for 48–72 hours after getting vaccinated. We heard a great analogy from professor Shane Crotty, who works in vaccine development, who said, “It’s no different from going to the gym and getting sore muscles.” Minor discomfort can be a sign that “good things are happening.” Immunity must sometimes be earned, “just like those biceps you so desperately wanted.” [B-02] Conclusion Many people are hesitant to receive the COVID-19 vaccine. Reasons include the vaccines’ novelty and quick development, as well as the politicisation of the pandemic. Healthcare practitioners must remain informed on emerging data from the Cowin App to support patients in making informed decisions about vaccines required to help end the pandemic. Visit the Piramal Finance website for more such blogs and to explore their financial products and services.
08-11-2023
Read More
Credit Score

How Can I Check My CIBIL Score for Free?

The Credit Information Bureau (India) Ltd provides the CIBIL score. It is a credit rating agency authorised by the Reserve Bank of India for this purpose. Your CIBIL score is accessible to you, banks as well as non-banking financial companies. MyCIBIL is the platform where you can avail all CIBIL-related services. You can also check your CIBIL score online here. The score is based on your credit history. It includes loan repayment history and credit card payment records. A credit score is a three-digit number and ranges between 300 and 850. It reflects how credit-worthy you are. Any financial institution will likely consider your credit score before granting any loan or issuing a credit card. [B-01] How To Check CIBIL Score? You can follow these simple steps to check your CIBIL score. Step 1 Visit the official website of CIBIL at https://www.cibil.com/. Step 2 Select the option ‘Get your CIBIL score’. Step 3 You will be prompted to enter your details, including your email ID, name, and password. You will have to provide identity proof at this stage. It can be anything from a PAN card, Aadhar or Voter ID card. Next, you must enter your PIN code, date of birth, and phone number. Step 4 After filling in all the details, click on ‘accept and continue’. Step 5 You will receive an OTP on your mobile number. Enter this OTP and press ‘Continue’. Step 6 You will receive a message that you have successfully enrolled to check your CIBIL score. From here, you can visit a dashboard. It displays your credit score. You can also perform a few easy steps on MyCIBIL to check your credit score similarly. Step 7 It will take you to the website – myscore.cibil.com. Step 8 Click on ‘member login’ option. After logging in, you will be able to check your CIBIL score. On the MyCIBIL platform, you can access your latest CIBIL score. What is the Range of Credit Scores? Checking your CIBIL score helps to evaluate your ability to pay back any amount that you have borrowed. Only those with a high credit score are considered trustworthy credit applicants. Check this table to understand what your score on MyCIBIL means. SCORE RANGE MEANING 300 – 549 It is the lowest MyCIBIL score. You might have defaulted on your credit card payments or loan EMIs. Your risk of turning into a defaulter is very high. 550 – 649 It is a fair credit score range. But at the same time, it suggests that you are struggling to meet your debt obligations. 650 – 749 This score indicates good credit behaviour. You are likely to get easier loan approvals and credit cards. But banks may not still be willing to give you the best interest rates. Also, you may not be able to negotiate for the same. 750 – 900 This is an excellent credit score. It shows that you are very punctual about repaying your debt. Your risk of turning into a defaulter is the lowest. You are likely to get a loan or credit card easily. You will also be able to negotiate for better rates of interest with lending institutions. Why Should You Aim to Maintain a Good Credit Score? Here are some of the most important reasons why you should try to maintain a good credit score: With a good credit score, you are more likely to be considered eligible for a loan. A good credit score conveys your creditworthiness to lenders. It means that you pay your bills on time. Thus, it leaves a good impression on financial institutions, which may be more willing to sanction a loan. You will become eligible to get pre-approved loans. A good and long credit history improves your chances for the same. Approval for such loans can be obtained quickly. Also, the processing time for such loans is nearly zero. You can enjoy the benefit of lower interest rates. Usually, when you apply for a loan with a good credit history, you can negotiate with the lender for a lower interest rate. Lenders will be willing to give you credit cards. These cards usually carry heaps of benefits and attractive offers. These cards also come with several benefits. A good credit score also gives you the benefit of higher credit card limits. How Is Your Credit Score Calculated? The following factors impact the calculation of your credit score. Almost 35% of your credit score is based on your payment history. It shows how timely you are at making payments. It includes any missed payments as well. The amount that you owe. At any point, your existing number of loans and credit cards also determine your score. The length of your credit history. It means the time you have been holding a credit card or have taken a loan. A mix of products like home loans, multiple credit cards, and instalment loans help to increase your credit score. [B-02] Conclusion It is easy to check your CIBIL score. Lenders usually check your CIBIL report, payment history, and employment status to determine how much money they can loan you. You must attempt to improve your credit score as early as possible. To know why it is important to maintain a good credit score and how you can check your score on MyCIBIL, head to Piramal Finance. It is an optimum platform for all financial knowledge and information.
08-11-2023
Read More
Cards

How To Get Amazon Pay Credit Card Online?

The Amazon Pay ICICI credit card is a credit card issued by ICICI bank in collaboration with Amazon Pay Private Limited. It is one of the most popular rewards-based credit cards with lifetime free membership. This credit card is designed to offer cashback and reward points on the online purchase of all Amazon products. The card also helps store the rewards and benefits in the user’s Amazon Pay balance, which they can use for future purchases. Wondering how you can get an Amazon Pay ICICI credit card too? You can simply apply for it online. Read on to know why the Amazon Pay ICICI credit card is a great option for you. [B-01] Benefits of Amazon ICICI Credit Card If you are wondering what Amazon Pay credit cards can help you do, here is a detailed explanation of its benefits. Cashback for Prime and Non-Prime Members The Amazon Pay ICICI credit card offers 5% cashback to all prime members on all purchases made through the Amazon app. However, this does not include ebooks and gift cards. The card also offers 2% cashback on paying electric and other bills through Amazon Pay. Not a Prime member yet? Amazon Pay credit card still has a lot to offer. The ICICI Amazon credit card offers 3% cash back on all purchases except ebooks and gift vouchers on Amazon. Similar to Prime members, non-prime members also enjoy 2% cashback on paying their bills. Redeemable Earnings As hard as it is to believe, Amazon rewards are redeemable without an expiry date. You can use these reward points on 16 crore products across the Amazon website for an unlimited period of time. Do you often forget to use your rewards within a stipulated time? There will be no such hassle with the ICICI Amazon Credit card! Other benefits If the benefits above are not enough, there’s even more: Amazon Pay ICICI credit card has no joining fees and offers lifetime free membership 1% surcharge waiver on all fuel transactions No limit on redemption amount, and the process of redeeming earnings is free 2% cashback on using Amazon Pay credit card for purchasing a select range of items from specific Amazon Pay partners. Now, on to the main question. How can you apply for the Amazon Pay ICICI credit card? Are You Eligible for Amazon Pay ICICI Credit Card? Before applying for the ICICI credit card, make sure you check the eligibility criteria below: You must be between 18-60 years of age You must be a salaried or self-employed individual Your monthly earnings should be more than 25,000 You must reside within the serviceable areas of the bank Online Application Process for Amazon Credit Card The process of applying for an ICICI Amazon credit card is pretty simple. You need not visit the bank for the physical verification of documents. Instead, you can apply for an Amazon Pay credit card through a few simple steps online. You can follow the steps below. Go to the official website of ICICI bank Visit the Amazon Pay ICICI credit card menu Select the ‘Get Card’ option The page will direct you to Amazon’s website Fill up the form on your window and add all the necessary details Click on the ‘Submit’ option. Once you follow the above procedure, an ICICI bank official will guide you through the rest of the process. Online KYC Process Once your Amazon Pay ICICI credit card application process is complete, one has to complete the KYC formalities. Amazon has two types of KYC verification. Virtual KYC Verification As the name suggests, virtual KYC verification is an online mode of verification. The user needs to produce their Aadhar and PAN card details through a video call to an ICICI official. Users also need to answer a few basic questions to complete the verification. In-person KYC Verification In case you are not confident about the virtual KYC verification process, you can opt for the offline or in-person KYC verification process too. In this process, an ICICI official visits your house to physically verify your documents. Thus, in both cases, the credit card applicant does not need to go anywhere. Instead, they can complete the formalities from the comfort of their homes. Checking Amazon Pay Credit Card Application Status Once you apply for your ICICI Amazon credit card, it is crucial to check its application status regularly. Remember, it does not take several days for the application to process. Hence, it would be best to check its status after a day or two if you do not receive a call from an ICICI official. You can call 1800 102 0123 and reach out to ICICI customer care with your registered mobile number to check your application status. Linking Amazon ICICI Credit Card with Your Account You can enjoy the benefits of an ICICI Amazon credit card only when you link it to your Amazon account. Remember to add your new credit card as a payment method in order to use it. To do this, go to your Amazon account and click on the “Manage Payment Methods” option. You will see an option to add more payment methods. Add your ICICI Amazon credit card number as your preferred payment method and enjoy its benefits. [B-02] Conclusion The Amazon Pay ICICI credit card offers several benefits to users and is indeed a blessing if you love spending most of your time shopping online. Does the idea of an Amazon Pay credit card look exciting, but you are confused about the card and its benefits? That is quite common. If you are looking for more details about Amazon Pay credit cards, Piramal Finance can help you grow out of your anxiety. Piramal offers several financial suggestions and expert opinions that can help you decide the correct time for getting your own ICICI Amazon Pay credit card. Connect with their financial experts and get an easy and customised credit card and personal loan solutions.
08-11-2023
Read More
Cards

How to check your credit card statement online?

A credit card statement is an important financial document of a person’s credit card transactions and other billing details. It has details on all the transactions made using the credit card. Credit card statements can be lengthy, as they have all the records of the money sent and received. These give details of all payments made and complete information on the date, time, receiver, and sender are written in the statement. Since these details help you understand your budget, identify spam with billing errors, or keep you informed about your tax returns, going online can save you time and effort. [B-01] Checking Axis Credit Card statement, HDFC Credit Card statement and ICICI Credit Card statements online You can find the statement details of your transactions for Axis Credit Card statement, HDFC Credit Card statement, and ICICI Credit Card statement online. The ICICI bank credit cards give you many rewards and benefits with each payment you make. A credit card is a blessing, from winning cashback after each transaction to getting instant discounts on item purchases. Why use credit cards? Axis Credit Card, HDFC Credit Card, and ICICI Credit Card have similar benefits. It allows universal payment, rewards or cash back with each investment, discounts on entertainment like movie tickets and dining out, and help on the VISA lounge. How to register for online access to credit card statements? You can use Axis/HDFC/ICICI bank account monthly credit card statements. You must first register your email ID with the card issuing company. Then you will opt for online services. This will let you access the credit card statement facility. You can get your monthly credit card bill statement by opting for this service. The credit card bill statement is sent via your registered mail as a PDF file. This PDF file is password-protected; downloading the PDF requires a password to view the report online. Checking credit card statements online Here is how you can check your credit card statement online: Visit the portal of the credit card issuing company. Log in with your personal details. Find the credit card section. Click on the tab ‘Statement’. Choose ‘latest credit card statement’. Download the Credit Card Statement PDF. Input the Credit Card Statement password. Get the billing-related information. How to switch from offline Credit card statements to e-Statement? For switching to online from offline credit card statements, you will first need to go to the net banking portal for the online card (ICICI/Axis/ HDFC). Find the ‘credit card’ section and click on ‘Request e-Statement’. You will receive a confirmation SMS at your registered mobile number and an email alert in your mail ID. You will receive these notifications after each billing period with your Credit card statement and password. Now that you have the basic idea of Online Credit Card statements for the ICICI credit card, Axis Credit card, and HDFC credit card, let us learn to read the credit card statement. How to read Credit card statements? Successfully reading your monthly mail on credit card statements can sometimes be challenging to understand. How to identify your dues and payment transactions in those lengthy statements can be a difficult task. To help you know the details, here is a guide to reading those credit card statements. Look out for this information in your credit card statement: Account summary: An account summary will have details about your account number, your previous balance, your payment credits, recent purchases, balance transfers, cash advances, fees charged during this billing cycle, the interest set and new balance, days in a billing cycle, available credits and opening and closing dates of the billing cycle. Payment information and credit card statement: This section will detail your new credit balance and the minimum payment due with the estimated due date. Late payment warning: This section informs you of the maximum amount required if you miss your credit card payment on the said time. It also tells about late payment penalties for first-timers or cardholders. Minimum payment warning: This is in a table with all your payment balances for you to know better. It sometimes has sections that compare your payment. The comparison is made on the amount and the estimated time for the clearance. It helps you to know how easily you can end your payment cycle if you pay a higher amount and vice-versa. Rewards summary: This section includes credit card statements with credit card rewards. It informs about your previous rewards balance, rewards earned on the respective month, bonus rewards made and total available rewards. Significant changes: This shows any changes made by the cardholder to the card. It also shows the future changes the cardholder can make and their benefits. Payment coupon: This helps you benefit from your payments and transactions and make you earn cashback and rewards. Account activity: It lists all the transactions made during the billing cycle. It makes it easy to read as it has a reference number for each purchase. Fees and total interest: This section has a table with your interest paid till the present date and the remaining amount. Interest charges: These detail how you can be charged the interest rate for your transactions made with a credit card. [B-02] Conclusion The online Credit Card Statement is an easy and tension-free way to view your expenses and repayment date. Credit cards are a great way to help you manage your takes and lends. Digital credit card statements have provided ease of transaction and transparency amongst users, and ICICI, Axis, and HDFC credit card statements are some of the most prominent ones. In case of any doubt, consult a financial expert like Piramal Finance and get an easy and customised credit card and personal loan solutions.
08-11-2023
Read More
Education

Why You Should Not Miss COVID-19 Vaccinations

Vaccines assist in boosting resistance to a virus or a germ. A vaccine puts a less fatal form of the virus or something made to look or function like it in the body. The immune system produces antibodies to combat specific germs and prevent infection. Each viral particle of the coronavirus has protein spikes. The viruses can more easily infect cells with the aid of these spikes. Several coronavirus vaccines aim to aid the body in “recognising” such spike proteins to combat the coronavirus that contains them. A good vaccine may help prevent someone from major disease, illness, & death. Vaccines may help limit the viral spread and reduce the virus’s ability to evolve into new types. People can register for a vaccination dose on the CoWIN app. [B-01] How COVID-19 Vaccines Keep Humans Safe COVID-19 vaccines are the most optimal way of controlling COVID-19. Vaccines may protect humans against COVID-19 by keeping them from being infected in the first place. Non-vaccinated people are more likely to be infected with COVID-19 than vaccinated ones. Globally, non-vaccinated folks account for the majority of cases. Importance of The COVID-19 Vaccine & Why One Must Get It Here is a list of key vaccine facts. These facts are vital to have COVID-19 vaccination. Vaccines against COVID-19 are safe Many drug control bodies across the globe have tested COVID-19 vaccinations. They help reduce the chances of getting COVID-19. COVID-19 vaccinations can boost public health Vaccines are believed to boost the immune system by telling the body how to defend itself against threats. As a result, many people think of vaccines as a means to boost their immune system & the way their body responds to foreign cells. A risk-free way to boost the immune system Vaccines are proven to build immune function by telling the body ways to defend itself against threats. There are no COVID-19 vaccines that may attack COVID-19 Many folks mistakenly assume that since the vaccine contains a strain of the virus, they will get infected with it. Since it isn’t how a virus impacts the body, getting infected with the vaccine’s sickness poses no risk to anyone. COVID-19 vaccinations are usable by everyone around the globe. Various certification bodies have approved vaccines. If a vaccine is approved, folks can be sure it has been checked using proven methods. There’s no need to skip a COVID-19 vaccination. How to Register with the CoWIN App for Vaccination COVID Vaccine Intelligence Network (CoWIN) is an app. The Government of India has used it for its vaccine program. Register on CoWIN, a digital system that was built to track COVID-19 vaccination delivery in live time. People may register on the CoWIN app for the second round of COVID-19 vaccines. Here’s a step-by-step guide to register for a COVID-19 vaccination using the CoWIN app. Download the CoWIN app on the smartphone through the Google Play Store or the Apple App Store. Launch the app & input the mobile phone number. Once the OTP has been received, enter it & click ‘Verify’. The registration screen will now be shown. Enter all the needed info. This includes name, gender, age, & so on. Upload the relevant documents. Click on the register button. Choose a health centre & schedule a visit on any open date. To register on CoWIN properly for a COVID-19 vaccination, choose ‘Book Appointment’. How to Reserve Vaccine Slots on CoWIN Website Go to the CoWIN website. Scroll below to ‘Find a Vaccination Center Near You.’ Then, choose ‘Register Yourself.’ Add the cell number & press ‘Get OTP’. Insert the OTP & follow the on-screen steps to reserve a spot. If the booking is confirmed, an SMS will be sent to the provided mobile phone number. This confirmation info must be shown at the vaccine center. Advantages of The COVID-19 Vaccination If one is unsure if the vaccine is suitable for them, they must consider the following advantages: Boosts Immunity COVID-19 is a virus that has never been observed before. Yet, its degrading effects are now strongly known. The infection has a low death rate but may still severely affect health. COVID-19 seriously impacted the elderly & folks with illnesses such as immune problems, diabetes, & so on. The vaccine’s main advantage is a robust layer of defence from all types of coronavirus. Take the first vaccine as soon as feasible & finish the dose cycle on schedule. This will assist in building optimal body defence from the virus’ harmful effects. Walk Outside Without Concern Stepping out gets more natural when life returns to the norm. Those who have been immunised may do so without fear. Even a single dose of vaccine protects from the dangers of infection. Yet, experts highly advise against exposure until the second dose. Interact With Family & Friends Whether one has been infected before or not, COVID-19 has impacted our social relationships. Since remote work is becoming the norm, contact with friends, family, & co-workers is potentially dangerous. This valued liberty is restored with the COVID-19 vaccination. Folk who have been properly vaccinated may meet their friends and family without the looming danger of being infected with COVID-19 via their dear ones. [B-02] Wrapping Up Vaccination is vital for a safe and healthy life, so be aware of the myths. COVID-19 can cause serious, life-threatening effects. Also, if folk get ill, they may infect friends, family, and those nearby. The COVID-19 vaccination gives herd body defence. It helps cut the risk of mild to major COVID-19 illnesses. In the unlikely case that a folk becomes unwell after receiving the vaccines, they are far more likely to have mild signs if they had stayed unvaccinated. Visit the Piramal Finance website for more such blogs on healthcare, personal finance, and a variety of topics, and explore their financial products and services.
08-11-2023
Read More
Credit Score

Which Credit Score is Important in India: Equifax or CIBIL?

Equifax and Mycibil are credit reporting agencies. They both gather financial data from several economic firms all over the globe. They assign credit profile ratings based on data collected regarding customers and firms. They are 2 of the 4 credit data firms licensed in India. Experian and High Mark are the two surviving credit reporting agencies. These firms collect and record your credit-related events. The data is then analysed to build credit scores and create credit reports for you. [B-01] What Exactly is an Equifax Credit Score? The credit score is a 3-digit figure that represents your solvency. It assesses if you would be likely to repay your credit card debts after getting a loan. The Equifax credit scores will vary between 300 and 900. If your credit score is near 900, the institution may accept your loan demands faster than those with lower credit ratings. Several metrics and criteria are used to produce the Equifax credit score. This system takes into account the sums you handled in the past. If you complete your returns on a date or otherwise, your data and the length of your previous loans are taken into account. The credit history does not quickly inform you if you are competent to apply for credit cards and loans. Your banker can tell whether you’re a liable lender by checking your credit score. When your credit rating sustains over 750, it’s still good. If your credit score is below 600, focus on raising it before applying for credit cards and bank loans. Pay your monthly taxes, EMIs, and loans on schedule and never miss a payment. These are the primary elements that have a vital impact on your credit score. Importance of Equifax Credit Score It is vital for you to have a high credit score. Many entities, such as banks or firms, may examine this score before granting you credit or a job. Here’s a brief rundown of why having a great Equifax credit score can be crucial for you. Property searching is simpler: Many landlords currently use your credit score and credit history when deciding your capacity to pay rent timely. If you want to rent a property, having a strong Equifax credit score makes it simpler. You have better job prospects: Your Equifax credit score may be vital to a future job. For any given job, you appear to be a more competent applicant with a strong credit rating. You can reach your life aims more quickly: Many life motives, such as buying a house or car, need loans. You can also use credit cards to assist in paying for various life goals, such as a foreign trip. So, a strong Equifax credit score allows you to obtain credit. Then, you may be able to pay for and attain your goals in life faster. What Exactly is a CIBIL Score? The Credit Info Board of India Ltd. assigns you a CIBIL score/credit score. This indicates your solvency and capacity to repay the loan within the deadline. CIBIL is a 3-digit score analysed based on your financial record. The CIBIL score runs from 300–900, with higher scores indicating a greater probability of loans being granted. According to Mycibil data, most loans are for people with credit scores of 750 or above. Multiple elements determine your CIBIL scores, such as your payment record, starting and current loan amounts, and others. Banks and financial firms keep in mind different factors when granting loans to you. The Value of the CIBIL Score The CIBIL score is vital since it benefits both the bank and the client in various ways: The CIBIL score informs you about your credit condition. Good financial management will always get you a high Mycibil score. A lower CIBIL score indicates that you have poor credit. Therefore, banks would not lend to such clients. If you have a high Mycibil score, a bank may issue you a loan with a low-interest rate and less paperwork. If your CIBIL score is very low, lenders reject your loan request. Banks also issue you loans at a high-interest rate. Of course, the CIBIL score isn’t the only factor that defines whether a bank will offer a loan to you. Many factors assist these firms in specifying whether to approve your loan request. However, your CIBIL score is quite vital when banks provide loan rates. If you have a high CIBIL score, you may be eligible for a loan at a lower interest rate. If you have a low CIBIL score, you will qualify for a loan at a greater interest rate. Vital Credit Score: CIBIL Vs Equifax FactorEquifaxCIBILThe cost of having a reportRs. 399 (report and score)Rs.550 (credit report and score)Report period7 years7 yearsServices providedFor you:-Report on credit data-Alerts from Equifax-Equifax risk rating-Equifax account reviewFor firms:-Credit risk and fraud control -Portfolio administration-Industry inspections, etc.For you:-TransUnion Rating-Report on credit information-Market researchFor firms:-Company credit info report Mycibil-Bureau Analyzer CIBIL-Report on Asset ReviewPartnering with NBFCs and banks7 major banking groups35 bank and NBFC ties As stated before, each agency has drastically different traits and results. Your cost of gaining a report from Mycibil is markedly more than that of Equifax. When analysing CIBIL versus Equifax credit score, bear in mind that the former has fewer partnerships with banks and NBFCs. In Equifax, you may only make payments via demand drafts. You may make payments at CIBIL with net banking and debit or credit cards. [B-02] Conclusion The goal of any instrument used by you is to measure your solvency. Whether it’s an Equifax credit score or other credit ratings, it is used to predict how certain you are to pay your debts. Managing on-time payments and using credit wisely in the past are indicators of repaying debts in the future. You can check your credit score and learn more about Equifax Credit Score and Mycibil by going to the Piramal Finance website. Help yourself to the knowledge of wide-ranging financial products and services on their website, especially credit cards and personal loans.
08-11-2023
Read More
Credit Score

CIBIL Full Form & Tips to Improve Your Score

Credit Information Bureau India Ltd. is the full form of CIBIL. It is one of the major credit bureaus or credit information companies in India that is backed by TransUnion International. CIBIL keeps track of all business and personal credit-related activities. Many banks and a number of financial institutions regularly provide information to the CIBIL. The CIBIL score is a number that financial organisations use to evaluate your creditworthiness. It helps with loan or credit card applications. [B-01] What is CIBIL Score in India? CIBIL score in India is a 3-digit figure on the credit report. The credit bureau considers your overall debt from all lenders and your payment history when calculating your CIBIL. The CIBIL range is 300 to 900, with 300 being the lowest and 900 denoting the highest. A score between 700 to 749 is considered ideal for credit applications. A score of 750 or higher is regarded as outstanding and boosts your chances of having your credit approved. You should try keeping your CIBIL close to 900 if you want to acquire credit easily. Also, note that the CIBIL score is usually called the credit score in India. CIBIL Score Range in India CIBIL Score Range Rating 300-499 Poor 500-649 Average 650-749 Good 750-900 Excellent What is a CIBIL Report? In addition to the credit score, CIBIL also provides credit reports for individuals and businesses. All lenders carefully review the CIBIL report before authorising a credit application. Your CIBIL report includes your CIBIL score, credit record, repayment history, personal details, employment records, banking information, contact information, and details of hard inquiries. Similar to an individual’s report, a company’s CIBIL report includes information about its credit record. It has information regarding ongoing debts, pending legal matters, and preexisting credit. The agency carefully preserves this data throughout time by collecting it from financial organisations. You should review your credit score and credit report at least once a year. You can check your credit rating at Piramal Finance for free. Access your CIBIL and your credit report with just a few simple details. Why is CIBIL Score Important? A high CIBIL score, or one that is between 700 and 900, is quite favourable. Banks and other lenders assess it when evaluating loan and credit requests. The CIBIL score is your first impression in a credit application. A good CIBIL score means greater chances of having your loan application granted. As a result, it is beneficial to maintain a good CIBIL score to get your credit requests approved. You have a better chance of securing a loan if your CIBIL score is good. You can also bargain for better credit conditions and lower fees and penalties. You get more benefits such as: Lower loan interest rates Increased credit limits Better terms for repayment, including a long, flexible payback period An expedited loan approval procedure More lender options Factors Affecting a CIBIL Score Some of the major factors affecting your CIBIL score are as follows: Repayment History Your CIBIL score is used by lenders to assess your ability to manage debt and credit. Your credit score could suffer if you have a repayment history that includes late payments or failed EMIs. Credit Utilisation Ratio As much as 30% of the overall credit limit is the recommended credit utilisation ratio. A person’s inability to manage money effectively and reliance on credit is indicated to credit bureaus when that individual has a higher credit utilisation ratio. As a result, the applicant’s credit score is negatively affected. Number of Credit Inquiries When you apply for a new credit line, the lender looks at your credit report. Each draw is considered a hard inquiry, temporarily lowering your CIBIL score. Avoid frequently submitting multiple loans or credit card applications. How to Improve CIBIL Score? It is necessary to have a high CIBIL score since it can influence banks and other lending institutions when you apply for loans and other forms of credit. Here are some ways you can improve your CIBIL score: Pay Dues on Time You should be disciplined and create reminders for your payments. Your CIBIL score may be significantly impacted by how you handle unpaid debt. You also pay a fine for late EMI payments; this also hurts your CIBIL score. Therefore, if you want to raise your CIBIL score, pay your bills on time and maintain a good score. Credit Mix Maintain a good credit mix. It is advised to have a balanced credit portfolio. You can have secured (such as a mortgage or car loan) and unsecured (such as a personal loan or credit card) loans. You can also have credits with both long and short terms. A surplus of unsecured debt could be perceived poorly. New Credit Cards Very Frequently Take into account whether you require any additional credit card accounts. Multiple unused credit lines will incur additional fees and have no positive impact on your CIBIL score. How to Check Your CIBIL Score? RBI mandates that credit bureaus give people access to their credit reports online. You can check your credit score simply by visiting the credit information company’s web portal. Here are the steps to check your credit score on CIBIL. Visit the CIBIL website and go to its credit score page. Login into your CIBIL account. Enter the details, such as your PAN number, DOB, and address, to confirm your identification. Enter the OTP sent to your linked email or mobile number. You will see your debt and other information on the following screen. Check for any errors in the report. Also, report if there is any missing record or additional information. You can also check your credit score on Piramal Finance for free. You only have to enter your details, and you will get your credit score in a few simple steps. [B-02] Conclusion It is clear that a good CIBIL score is necessary, especially when planning to apply for credit. Banks and other financial entities that lend money basis a high CIBIL score. Therefore, to prevent loan rejection due to a low CIBIL score, it is advised to maintain and improve your CIBIL score. Visit Piramal Finance to read more such blogs on credit scores and finances. You can also check out the housing loan and personal loan sections.
08-11-2023
Read More