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Pick the Best Medical Insurance Plans Online

Good health is needed for well-being. Many people are at risk for diseases in today’s world. A health crisis might strike when people least expect it. If they have health insurance, they are protected. A medical insurance policy is a product offered by health insurance firms. The insurer promises to reimburse the insured for health costs in the event of a crisis under the medical insurance policy. Such costs are reimbursed when the insured becomes sick or, in other cases. [B-01] Why Purchase Health Insurance Online? The ease of purchasing and the access to a broad range of plans are two reasons most people choose to get health plans online. More reasons to get medical insurance may be found in the part below: It is simple to compare many health plans The online method of purchasing a plan has eased the comparing process by decreasing paperwork. A plan calculator makes it simple to compute rates and compare insurance plans. Correct choice One of the finest aspects of online purchasing plans is the freedom to select and purchase the best. An online firm gives people access to all the info they need to compare the best plan, such as plan quotes, perks, and other terms and clauses. Time-saving Unlike old methods of purchasing a plan, in which people had to describe their needs to insurance brokers and go through a time-consuming process, online services save time and allow them to purchase a health plan. They can choose the best medical insurance policy from the options provided on the screen. 24-hour access to data There are no time constraints when purchasing a plan via online sites. As a result, people can compare, choose, and purchase the best plan at their leisure. Discounts Many plans provide discounts for purchasing a medical insurance policy online. As a result, they can get more perks at lower rates. Eligibility for Indian Medical Insurance The following are the main needs for medical insurance plans in India: Entry Age Under a kid plan, the child must be between 16 and 18 to get the perks of medical insurance. Adult plans have entrance ages ranging from 18 to 65 years old. Depending on the plan and insurer, it could be 70 years old or older. Pre-existing Health Conditions After 45, people may undergo many health exams before being accepted for medical insurance. The insured must submit proof outlining any pre-existing problems if they are not requested to undergo health testing. These findings from health exams decide whether an insured may use it. Factors Impacting the Cost of Health Insurance The medical insurance rate is based on a mix of the following factors: Age Youth are far more fit than older people because of their better immune systems, even if health issues are increasing for both groups. Thus, the plan premium will be lower for more young people. Lifestyle Pollution levels and other concerns related to the style of living account for more than 61% of deaths in India. The life choices, such as whether or not they smoke, will thus affect the cost of health plans. Location People’s place where they live will impact the plan since each city has risks and health costs. For instance, the high pollution level in North India makes residents far more prone to lung illnesses. Further Covers One might alter their medical insurance plan based on their needs and health conditions. Thus, the plan increases slightly when they choose extra cover like a Maternity or an AYUSH perk. India’s Top Medical Insurance Plans This section will talk about some best medical insurance plans. HDFC Health Suraksha Gold with Regain This plan is provided by HDFC Ergo Pvt. Ltd., the medical insurance firm. Families may get the cover. The plans cover pre-hospital costs for 60 days. It also covers all costs like health advice, cure, and so on for the first 90 days following hospital. Max Bupa Health Companion Family First This plan is a product of Max Bupa, a health plan provider. This plan’s qualities make it among the top plans. This plan is designed to meet the demands of Indian joint families. When they purchase this insurance, they can cover up to 19 members, with a separate amount for each member. A floater sum is also covered: any family member may utilise that. Senior Citizens Red Carpet Health Plan This plan is from Star Health & Allied Insurance Provider Limited, a medical insurance firm. This plan’s cover is designed for seniors. It covers people over 60 and allows entry up to 75, with cover going on forever. The cover is offered for one year, two, or three years and may be renewed. If the plans cover more than one year, the total insured is calculated each year with no carryover perk. The cover covers pre-hospital health costs incurred for illness or injury suffered up to 30 days before the hospital. [B-02] Conclusion Even the healthiest people may get ill without notice and may need costly health care. Not being prepared to cover the price of needed treatments is not an option in such a case. This is where whole health plans come into the picture to protect the family. A health care plan is a deal between an insurance firm and an insured in which the firm pays for the life insured’s health costs. The firm will either pay them for the health costs or ensure that one is eligible for a cashless cure at one of the health centres for illnesses covered by the plan. A health plan is eligible for a tax deduction. Plans are tax deductible under Section 80D of the Income Tax Act. For more details, one can visit the website of Piramal Finance to learn more about medical insurance plans and other services.

08-11-2023
Business Loan

How to Use Business Loan EMI Calculator in 2022?

Maintaining a company is neither easy nor cheap. It is going to take a lot of time and money. But, the latter is not something you need to worry about if you take a loan. You can use this financing choice for everything related to the growth of your firm, from building an infrastructure to launching a marketing campaign. However, debt is a trap that can harm a company’s finances as well as its personnel and growth. Interest rates on business loans are high as they are unsecured loans. Thus, it may be tough for some firms to make the required EMIs toward the loan’s principal and interest. Use an EMI calculator for business loans to avoid this kind of scenario. If you are looking for low-interest rates for your small business or start-up, you can opt for MSME business loans. Read on to find out all that you must know about a business loan EMI calculator and MSME business loans. [B-01] What do you mean by Business Loan Calculator? A business loan calculator helps you simplify your business loan information. It helps you understand the components of your loan, such as your interest rate, your principal amount, and your loan period. The whole cost of borrowing the money is segregated into a Business Loan calculator. To make it easier to keep track of the amount you need to pay each month, it breaks down your principal and interest into a single number. For an EMI calculator, you need to know three things: the loan amount (how much money you will be borrowing), the interest rate of your loan (you can guess this or contact your lender to know this), and the time over which you will pay off the loan. Benefits of Business Loan Calculators The following are a few of the main perks of using a business loan calculator: Gives precise and reliable calculations You can manually calculate the monthly repayment amount. You can compute your monthly payment amount with a business loan calculator. If you alter the loan balance or the repayment period, you can also know the difference in this sum. You can not afford a mistake; thus, this sum needs to be correct. You can end up in a bad situation if you obtain a loan that you can’t afford to pay back. The simplest way to avoid the issue is to use a calculator that has been created to cater to this need. Aids in determining the need for business loans If you are unsure if you fit the needs for a business loan, applying for one can be a time-consuming process that ends with either approval or rejection. You can check your eligibility by using a calculator rather than waiting for the loan processing officer to decide if you fulfill the needs for a business loan and then tell you. You can be sure that you qualify for the loan if you notice a monthly loan payment that your firm can afford. It is simple and quick. Manually calculating the repayment amount can take a lot of time. Even if you are a math prodigy, you will need to spend at least an hour checking your calculations to ensure that they are right. But if you use a calculator, you can get the answer quickly, and it is as exact as possible. Since you only need to enter a few pieces of information, including the loan amount, the loan term, and the interest rate, using the calculator is very easy. The rest is up to the calculator. It supports mobile devices For a business loan calculator, you can use your cell phone as an EMI calculator. Even opening your tablet or laptop is needed. On the screen of your mobile device, you may quickly see the monthly payment. You only need to quickly type a few numbers, like the loan amount and the loan term. Even if you use your phone to do it, it’s very easy. Things to keep in mind while applying for an MSME business loan. MSME refers to any micro, small, or medium enterprise or start-up. Most financial institutions provide low-interest and collateral-free loans to start-ups and small businesses. You can opt for an MSME business loan if you are looking for some working capital or are in need of a cash boost. However, you need to keep a few things in mind before applying for an MSME business loan. Some of these are: 1. Your credit score: Your credit score is an important factor when it comes to borrowing. A good credit score will get you a low-interest loan with better repayment terms. For businesses, banks look for a Company Credit Report (CCR) which is equivalent to the CIBIL score of an individual. 2. Your financial records: Whether your business is an established one or a start-up, having your financial records neatly organized can be quite an advantage. Most banks will instantly approve your MSME business loan if you have your previous financial records, such as GST and audit reports, in hand. 3. Your business registrations: When you are seeking a business loan, it is essential to have your business registered according to state rules and regulations. If your business is GST registered, your loan application has a better chance of approval. [B-02] The Bottom Line Getting a business loan can be the best thing for your firm. But, deciding to seek this kind of aid should not be done hastily. Business loan interest rates are higher than secured loan interest rates, regardless of the borrower’s credit history or the company’s financial standing (home loans, gold loans, and more). The EMI calculator for businesses can help you figure out how much you can afford to borrow without affecting your firm. A Business Loan calculator is a great way to check if an MSME Business Loan is right for your business. You will know if a loan is viable and if it will help you reach your business goal. The current technology means you don’t have to do the math yourself. Visit the official website of Piramal Finance to read about the different types of business loans. Find real, personalized information about a wide range of financial products and services, such as personal loans and different financial calculators, here.

08-11-2023
Business Loan

Easy Way To Calculate Business Loan EMI with a Business Loan EMI Calculator

Thinking about starting a business? If you answered yes to that question, you must know that running any business takes a lot of resources. It needs manpower, raw material, commercial space, licenses, and many other things. But the one thing it needs more than anything else is capital or monetary funding. There are many ways in which you can get this funding. One of the most popular ways to get money is through business loans. You can go to the bank of your choice and ask them to fund your business. This loan can then be repaid in EMIs. An EMI is nothing but an Equated Monthly Installment. It means that you can pay off your loan by breaking it down into small parts which you pay every month. This makes the whole process of paying off your loans easy, but if you miss an EMI payment, it can lead to some problems. Not paying your EMI on time can affect your credit score. It can also result in a fine which isn’t ideal. Thus, you must know exactly how much EMI premium you have to pay every month. It can help you better plan out your expenses and other aspects of your business. In this article, we will be taking a look at everything you need to know to calculate your EMI for your business loan. [B-01] How Are EMIs for Business Loans Calculated? We can’t talk about calculations without getting into formulas, can we? There’s a simple formula that can be used to calculate the EMI for your business loan. It goes like this: EMI = P x r x (1+r) n / (1+r) n-1 Now, this may look a bit intimidating so let us break it down and understand what this formula represents. The EMI you pay on your bank loan depends on various factors – the principal loan amount, business loan interest rate, and the general period of the loan. The above-mentioned mathematical formula is to simplify the calculations. The formula has three main terms. These are as follows: P – The P in the formula stands for the principal loan amount. This is the total amount of money you are borrowing from the bank. It is also the base sum you agree to repay. R – The business loan rate of interest. A percentage often denotes this. The business loan interest rate is the amount that the bank charges you for borrowing the money. Business loan interest rates vary based on the bank, type of loan, period of the loan, and many other factors. N – The period of the loan. Also known as loan tenure, this is the total time for which you are taking the loan. For instance, if the loan tenure is ten years, it means that you are willing to pay off your loan in ten years. For these ten years, you have to pay the EMI. All three of these factors, together, are put into the above mathematical formula. On solving it, you will get your monthly EMI amount. But let’s be honest, everyone isn’t a maths wiz. Calculating the EMI for your business loan, all by yourself can be a bit challenging and may also be prone to errors. This is why, to make the process easy, you can use an online Business Loan EMI Calculator. What is a Business Loan EMI Calculator? A business loan EMI calculator is a simple tool that is available online. With the help of this calculator, you can calculate the approximate EMI you will have to pay every month. These Business Loan EMI calculators are easy to use and you can find them with one quick search. Most major banks and financial websites offer the tool for free. To use the business loan EMI calculator, you will need to know three things. These are the principal loan amount, the business loan interest rate, and the loan tenure. After you put in these values, the calculator provides an EMI estimate you will be paying. Use the following steps to use a Business loan EMI calculator: Step 1 – Open any online loan EMI calculator. You can open it on any search engine on your web browser. Step 2 – Use the slider or the input box to enter your principal loan amount (P). Step 3 – Add the business loan interest rate (R) similarly. The interest rate depends on the terms of your loan and the loan provider. Step 4 – Enter your estimated loan tenure period (N) – this is the total amount of time you need to pay back your loan along with the interest. Step 5 – Double check all the values you have entered and hit the calculate button. The online calculator will take care of all the work and display the estimated EMI amount. Using an online business loan EMI calculator makes the whole process easy. Once you understand the approximate EMI amount, you can plan out other aspects. It can help you keep better track of things. Please note that most online calculators can only provide you with an approximation. The actual EMI that you will have to pay may vary. Once you have decided upon the loan terms, your bank or the loan provider will share the exact EMI amount. This article informs readers about business loan EMIs and how they can use a business loan EMI calculator. [B-02] Closing Thoughts Calculating and understanding your EMI before taking a loan is an important step. We recommend using the online business loan EMI calculator tools. These are better and quicker than manual ones. On-time payment of your EMI is a very crucial thing. If you are unable to pay off your EMI on time, it can lead to many unwanted problems. Always make sure that the loan terms suit you and your repayment capabilities. At Piramal Finance, you will find authentic and personalized information on financial products and services, including personal loans and financial calculators. Check out our other articles to learn more about various loans, insurance, investments, etc.

08-11-2023
Cards

Know The Difference Between Credit Card And Debit Card

You must be using credit and debit cards daily and frequent discussions over what is more advantageous are common. But how do these differences affect a cardholder personally? They are, of course, rectangular pieces of plastic. Credit cards and debit cards appear the same, yet they function differently. Cashless transactions have become extremely popular with the introduction of debit and credit cards. All you need to do is swipe once to complete the payment process. Although both cards are used in the same way, they function differently. Let’s look at how debit and credit cards differ from one another. [B-01] Credit Card A credit card is a small card similar to a debit card. Currently, banks and other financial organisations are issuing credit cards. The face of the credit card has the cardholder’s name, credit card number, chip and expiry date. On the back, you’ll find the CVV, signature and magnetic stripe. The method of payment is the main distinction between credit and debit cards. The amount of payment is not taken from your savings account when you use a credit card to make a purchase. You may make a purchase using a credit card. The bank or financial organisation that issued the credit card makes the payment. The credit amount owed to the bank by the credit card user is due at a later time. Payment delays, however, result in penalties. There is a pre-approved credit limit on each credit card. In other words, you can make several transactions till you reach the maximum amount set by the issuer. When you do not have cash on hand but want to make a big purchase, credit cards might be helpful. Debit Card The bank where the person has a savings account issues a debit card. Debit cards are also given to corporate entities. These cards are connected to a current account. A debit card is also a plastic card. Cards with magnetic stripes were formerly available. Now, EMV cards are used that have a security chip instead of magnetic stripes. These cards are safer and more encrypted compared to the previous cards. A debit card’s face has the following information: a 16-digit unique card number, validity and expiry dates and the creditor’s logo, such as Visa, Mastercard and RuPay. The reverse side of the card includes the CVV, signature stripe containing the cardholder’s signature and customer service numbers. A debit card is a tool for making cash transactions that may be used to purchase products and services. Your bank account gets debited when you swipe your debit card to withdraw money. The beneficiary’s account then receives the payments. Numerous transactions may be completed with a debit card. You may transfer money from your account to another account and pay your utility bills and do online and offline shopping. You can also swipe your debit card at an ATM to get cash out of your account. Difference between credit card and debit card Credit CardDebit CardDefinitionA credit card involves borrowing money from the bank. It is basically a loan that you will be returning at the end of the billing cycle.Debit cards allow you to access your own money.Card FeeYou will be charged the same costs to use your credit card as before, but you may additionally be charged late payment fees, prepayment penalties and foreclosure fines.You must pay an annual maintenance charge and a joining and processing fee to continue using your debit card.SecurityIf a charge on your credit card is incorrect, you have time to dispute it or block the card when stolen or when misplaced.When you use a debit card, money leaves your account right away, without allowing you to get your money back.Restricted UseThe credit card can be used up to the predetermined limit. Debit cards, rarely, have daily use restrictions that apply to a certain amount.SafeguardsWhen compared to a debit card, a credit card performs better at protecting the interests and privacy of cardholders. The issuing businesses offer protection that can cover fraudulent usage for up to the previous 7 days from the time of reporting the loss in any event of theft and misuse of a credit card.A debit card does not cover these problems.IssuerA bank can issue you a credit card even if you don’t create an account.Your savings or current account is connected to your debit card. Only banks where you have such an account can issue debit cards.Payable InterestThere are penalties for paying credit card bills late.When using a debit card, the money is deducted instantly. Therefore, no interest needs to be paid.RepaymentThe cardholder must repay the outstanding balance through revolving credit, which means paying the minimum due amount or paying more than the minimum due amount but less than the whole amount owed. The cardholder may also pay off the whole balance before the deadline.Since you cannot use your debit card to make purchases on credit, no repayment is required. Monthly StatementsA statement or bill is delivered each month. Due to the transaction amount being granted on credit, this is necessary.A debit card does not generate monthly statements. Your account statement will allow you to review all of your debits in a month.PrivilegesA credit card provides a lot of privileges. You can accumulate cashback, air miles and reward points by using a credit card.Debit cards often do not have any such rights or privileges. [B-02] Conclusion It is relatively simple to mix up a debit card with a credit card. They look alike, after all. However, it is crucial to understand the distinction between a debit card and a credit card. Credit cards are the best payment method because they come with advantages and anti-fraud features. However, credit cannot be made available to everyone. It could be wiser to continue with a debit card until you can learn to manage credit responsibly, especially if you are a spendthrift. Debit cards prevent overdrafts and encourage you to spend responsibly. Thus, both are good options. The difference comes in where your convenience lies. You can choose wisely if you know the differences between debit and credit cards. Piramal Finance is an online platform allowing you to learn everything you need to know about debit and credit cards, and other useful financial products. For other facts about personal loans, credit cards, and financial management, check out more blogs on their website!

08-11-2023
Cards

How to Get Lifetime Free Credit Card with No Annual Fee

With so many credit cards in the market, choosing one that meets the needs, provides perks, and is great value for money can be challenging. Many cards which do offer perks have high joining and yearly fees. Although many banks or card issuers provide a lifetime free credit card, which gives the perks of both worlds: no joining or yearly fees while providing perks. This article will help to make choosing a card easy. [B-01] Features and Perks of a Lifetime Free Credit Card Like every other credit card, a lifetime free credit card offers its own set of perks. Following are some examples of standard perks of a credit line without a monthly fee: No Regular Charge One of the top perks of a lifetime free credit card is that there is no annual charge for using it. Highly Affordable There is no joining cost for lifetime free bank cards, these cards are within budget. You can use them without any fear of extra charges. Bonus for New Clients Some of the top lifetime free credit and debit cards provide a nice reward when people get the card membership. These welcome bonuses might be extra reward points, cashback perks to many sites, or anything else. Easy Approval It is easy to get credit cards in India approved. The income standards for free lifetime credit cards are low. Though the cards with annual fees have more benefits than the ones which do not have any fees. Cashback and Reward Almost all top free credit card options give cashback and rewards when you use them. Depending on the credit card you have chosen, the credits can be redeemed for items or turned into cash. How to Apply for a Credit Card with No Annual Fee Online? When applying for a no annual charge credit card online, go to the website of the bank. Go to the individual bank’s website Read their eligibility criteria and proceed if you meet the same Add your registered mobile number and date of birth Choose the card, confirm the details Click “Submit” once you have filled in all the details You will be given an ‘Application ID’ after you submit the request and will be required to upload all necessary papers. Track your application using this ID. Criteria to Enroll for a Lifetime Free Credit Card The standards for applying for credit cards in India with no yearly fees vary from bank to bank. Yet, some basic qualifying needs must be met. These are some examples: Employment: One must be salaried/self-employed Age: One must be between the ages of 21 and 60 Note: In most instances, users must show proof of income. Although, depending on the bank’s rules, these qualifying terms may differ. Documents Required If the above terms are met, the documents listed below can be submitted to initiate the rest of the process: Proof of Address: Driving licence, passport, PAN card, Aadhaar card, electricity bill, etc. Income Proof: ITR papers, recent salary slips, bank records, etc. Identity Proof: Aadhaar card, a legal ID document card, PAN card, etc. Credit Cards with no Annual Fee Check the list of credit cards that can be availed without paying any annual fee: HSBC Visa Platinum: It has an interest rate of 3.3% per month. Offers attractive rewards and discounts when you spend. IDFC First Wealth: It gives four free cards with an interest rate of 0.75 to 3.5% per month. It offers air accident cover of 1 crore rupees and insurance and travel benefits. Amazon Pay ICICI Bank: It has an interest rate of 3.5 to 3.8% per month. It is a good card if you are a member of Amazon Prime. Kotak 811 #DREAMDifferent: It has an interest rate of 3.5% per month. Offers joining benefit has an attractive reward plan. ICICI Bank Platinum Chip: It offers good discounts and reward points and has an interest rate of 3.4% per month. Some more credit cards are listed below: Dhanlaxmi Bank Platinum Bank of Baroda Prime IDBI First Select Axis Bank Select (Burgundy) IDBI Aspire Platinum How to Get Lifetime Credit Cards with No Income Requirement? Almost all card issuers verify your income when you apply for a credit card. They want to ensure people have an income source that can be used to pay off their credit card bills. If you don’t have a steady source of income, it may be tough to get a credit card. Although, there are several credit cards In India that you can apply for even if you don’t have income proof or a credit rating. Because secured credit cards in India are provided against a set deposit, they can be granted without the need for proof of income. You must open an FD with the bank, which the bank will take as security if you fail to pay the credit card bills on time. [B-02] Conclusion Whether you are a first-time applicant or a longtime credit card user, a zero annual fee credit card is always helpful. A lifetime free card may be the best option for you if you are using credit cards for the first time. It offers perks with lower fees. Free credit cards offer fewer perks than premium cards with annual fees. Still, most valid free lifetime credit cards come with more perks that outclass the aspects of some premium cards with annual fees. So, keep an eye out for such credit and use them without worry. You may need to begin the credit trip with a secured card if you have no credit file or income, and then upgrade the card once you have a decent credit score. Visit Piramal Finance for valuable insights on your credit score or easy and customised credit card and personal loan solutions.

08-11-2023
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
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
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
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