More articles for you

Your one stop place for everything related to finance and lending

Personal Loan

How to Plan a Trip within Budget with Personal Loan

Are you sick of being indoors for the entire COVID-19 outbreak? Do you need to get away from it all with some loved ones? Worried about how to pay for plane tickets, lodging, souvenirs, and more on your upcoming trip? A personal loan for travel can help in this situation. These loans, which can be used for any kind of trip expense, are also known as “loans for travel” or “emergency loans.” Let’s learn more about the personal loan for travel and everything about it in detail. [B-01] Why would a personal vacation loan be a desirable option? Obtaining a personal travel loan online is a real option. Obtaining a personal loan for travel can serve many different needs. You could want to go see loved ones or check out potential workplaces. You may have an unexpected financial emergency that necessitates a quick trip away from home. You can get the money you need to cover it with a quick loan for travel. People in dire financial needs are the ones who should apply for this form of loan. A personal loan for a travel application doesn’t require proof of employment or income, either. To get an idea of how much your vacation will cost, add up everything from transportation to and from your destination, admission fees to any attractions you plan on visiting, the cost of food, and lodging and transportation during your stay. If you aren’t quite able to pay for everything with cash right now, a personal loan online could be the solution to your financial woes and the key to finally taking that vacation you’ve been dreaming of. What you need to know about taking out a personal loan for travel to fund a vacation is all given below. What are the Benefits of a Travel Personal Loan? There are many advantages to using a personal loan to finance your next vacation, including: Immediately available funds: Personal loans for vacations can be approved and disbursed on the same day you apply. Budget-friendly: The terms of personal loans can be tailored to suit the borrower’s needs, typically ranging from 1 to 5 years. This allows the borrower sufficient time to make their loan repayments. Data entry and processing online: Instant online personal loans are available, as we’ve seen. Users will like the streamlined experience this provides. The entire process, from application to disbursal, takes place digitally, saving candidates a tonne of time and effort. No or little paperwork: Minimal paperwork for the loan is required, including identification, a utility bill showing your current address, and a pay stub showing your current salary. Assistance to clients: The majority of internet lending establishments are available around the clock to assist borrowers. When and how much of a loan should you take out for Travel? The first step in planning a trip is determining how much money you will need to borrow. Let’s break down the process of finding out together: Pick a place to go: After making the decision to travel, the next step is to pick a destination. Get started with your exploration by browsing travel websites or consulting with friends who have recently travelled. An initial step in this process is to make a list of potential vacation spots. Plan your travel spending: After you’ve done your homework, you’ll have a good notion of where you want to travel. You must now figure out how much money the vacation will cost you. Planning ahead for your trip’s costs is essential, so be sure to factor in things like airfare, visa fees (if applicable), and lodging. Following these steps will help you choose a reasonable personal loan for a travel amount. Use the money you’ve set aside to: Personal loan online EMIs might add up quickly if you use them to pay for your entire trip. Raise some money on your own if you can to avoid it. If you have a sizable sum stashed up, you might want to think about spending it on your trip. If you do this, you can lower the amount of your monthly EMI payments and ease your financial strain. Consider filling out a personal loan application online: After you’ve finished the preceding actions, it’s time to look into online personal loans for travel providers. You should apply with both your local bank and any internet lenders that meet your needs. Pay stubs, a utility bill showing your current residence, a copy of your government-issued photo ID (such as a driver’s licence or passport), and a statement showing your account activity over the past six months are all essential pieces of information to provide with your application. It’s also important to make sure you qualify for this. All personal loans for travel applications must meet the qualifying criteria established by the lender. Therefore, it is in your best interest to look into the prerequisites in advance, both for the sake of convenience and to ensure approval. Be selective about who you submit your application. If you keep applying for loans and getting turned down, your CIBIL score will suffer. Personal Loan Types The Various Forms That Personal Loan for a Travel Can take. It’s important to note that there are different varieties of personal loans, including but not limited to: Secured or unsecured: Secured loans involve an additional party (a guarantor or collateral) agreeing to guarantee repayment if the borrower defaults. Due to the lack of collateral, unsecured loans carry a higher chance of default. If you fail to make your loan payments, you will lose the entire borrowed amount. People who can reliably make their loan payments on time may consider applying for a secured loan. Advance Payment: These are personal loans for travel with terms of one to three months. Their interest rates are sky-high because you are charged both interest and a service fee for the privilege of using them. Consolidating Debts: Multiple smaller loans are rolled into one larger loan with a reduced interest rate. You may be able to pay off your loan sooner and incur less debt as a result. Anyone with a stable income and good credit who is not in a rush to pay back the loan For travel may consider applying for this type of personal loan online. [B-02] Summing-up: The purpose of this article is to give a comprehensive examination of the personal loan for travel. You should choose wisely whether a loan for travel is the right choice for you or not. While paying off a big debt or taking advantage of luxury needs might sound worthy, it is also important to be aware of the other side of the coin. Planning a holiday can be an extremely expensive experience, but it doesn’t have to be. We’ve created this article for the budget traveller, with a mix of practical advice and tips to help you plan your trip the smart way. Get a hassle-free personal loan without any collateral or credit scores. Investment Reliable does not offer financial advice, but we do provide unbiased information and evaluations on trading, investing, and finance. Users ought to always carry out their own research. Also visit, Piramal Finance has more in-depth, educational, financial-related articles.

08-11-2023

Personal Loan

Personal Loan - Apply for Instant Personal Loan Online

No matter how well you plan finances, everyone needs money at some point. People borrow money from friends, get a loan, or use their credit cards when this happens. Each choice has its pros and cons. Borrowing money from friends or family is risky and could cause problems in the future. What about credit cards? Not a great option! An instant loan is the best option if you need to buy something, pay off debt, ease a cash flow problem, or pay an emergency medical bill. What is a Personal Loan? A personal loan is available from a bank or a non-banking financial company (NBFC) to pay for individual needs. It is issued based on essential factors like income level, credit history, employment history, ability to pay back, etc. Unlike a house or car loan, a personal loan is not tied to any property. Therefore, the borrower doesn’t have to use gold or property as collateral. However, personal loans have higher interest rates than house, car, or gold loans. Features of Personal Loan Flexibility: Personal loans can be used in many ways. People can borrow money for a wedding, a trip, school, medical bills, jewelry, electronics, etc. It’s a simple way to fix anyone’s money problem right away. Quick Payment: Pre-approval is usually a quick process. An instant personal loan requires eligibility. Having good credit is a plus. Depending on the lender, the loan usually takes 24–72 hours to be paid out. Existing bank customers may be able to get quicker approval online. Less Paperwork: A personal loan requires less paperwork, which makes things go faster. The lender’s customer service helps applicants streamline the process. No collateral: Personal loans don’t need collateral if you meet the requirements. It helps people in emergencies. Personal loans are the best way to get cash quickly. Tax benefits: People can get a tax break if they use a personal loan to build or fix their homes. Section 24B lets them get an advantage of Rs. 2 lakh. People must track how much money they use for the above things. Personal Loan Eligibility Criteria Lenders give personal loans so people can fulfill their individual needs. Personal loan options are flexible and quick so anyone can get help as soon as possible. Personal loans are made so that most people who need money can get it on time. Criteria Requirement Applicant’s age When applying for a loan, applicants must be at least 22 years old and can’t be older than 58. Work experience At least one year of work experience and at least two months with the current employer. Income Minimum salary of Rs. 20,000 per month. Employer category Salaried & self-employed can apply for an instant personal loan. Citizenship Indian citizenship holders Documents Required for Personal Loan Personal loans come with minimal documentation. People can get an instant personal loan by sending their paperwork online. Here is a list of what people need to show to get an instant personal loan: List of Documents KYC documents PAN card Aadhaar card Address proof Aadhaar cardPassportRation cardUtility billsDriver’s licence Income proof Latest monthly pay slip from the current employer Bank account statement Original PDF format bank statement for the last three months. How to Apply for an Instant Personal Loan? Lenders ensure that getting a personal loan is easy and quick. The online personal loan facility allows everyone to stay safe during the pandemic and still get all the money they need. To get a personal loan, people can follow the below steps: Step 1: Go to the online personal loan page. Step 2: Hit the “Apply Now” button. Step 3: Choose a salaried or non-salaried worker option. Step 4: Fill out the online form with personal information Step 5: The applicant has to choose how much he wants to take and how long the payback time is (up to 60 months). Step 6: After that, they should upload the required documents: PAN card, Aadhaar card, proof of address, proof of income, most recent pay stub, most recent three months’ bank statements, and degree certificate. Step 7: The expert team at the lender company looks over the loan application. Step 8: Once the personal loan is approved, the money is sent to the applicant’s bank account. Once the money is in the bank account, people can use it however they want. How Much Instant Personal Loan Can One Borrow? Most of the time, it depends on the applicant’s needs. Banks usually limit how much one can borrow. Generally, banks try to maintain that EMI doesn’t cost more than 40–50% of monthly income. The amount of the personal loan is also based on the applicant’s current loans. For self-employed people, the loan amount is based on their most recent profit/loss statement and any other debts (business loans) they may have. Tips Before Applying for a Personal Loan It’s easy to get a personal loan. Most people like personal loans because they are flexible and don’t need collateral. But there is always a catch, so everyone should think about the following before applying for an instant personal loan: Know the Actual Needs Why would someone want to take a personal loan? It’s a question that most people ask when they want to get an instant personal loan. So, based on their finances, everyone should figure out how much of a personal loan they need. Look at the Interest Rates The interest rates on personal loans vary by lender. However, the average rate is between 10% and 26% per year. So, before applying for a personal loan, consider the interest rates and choose the lowest one. Processing Fees When processing a personal loan, the lender deducts some administrative fees. Processing fees vary by lender, so compare costs before applying for a personal loan. Fees for Foreclosure Personal loans can be paid off or taken away after a particular time. When a loan is paid off early, some lenders charge fees. Choose a lender who doesn’t charge extra fees for paying off the loan early or foreclosing. [B-02] Conclusion Following the tips above, anyone can apply for a personal loan online. If you choose the right lender, everything will go smoothly and stress-free. Where should you look now? Use these tips to decide which loan offer is best. Instead of going with the flow, figuring out what’s best for one’s finances is essential.

08-11-2023

Banking

How To Do A Bank Balance Check In 2022?

Technology has made it very simple to do a bank balance check, without leaving the comfort of your home. All that you would need is a high-speed Internet connection that is safe. You can find your bank cheque number at any time. [B-01] How to do a bank balance check A bank balance check will tell you how much money you have in your account at a certain point in time. Knowing this will make it easier for you to pay your bills, transfer funds, make your monthly payments, and even manage your expenses. Here are a few ways you can choose from in order to check the balance in your bank account: Passbook – This is the offline way of doing your bank balance check. You will have to visit your bank and get your passbook updated to know how much balance you have in your account. The good thing, however, is that you will get all the details of all the transactions you have made to date. SMS – If you have registered your mobile number for your bank account, you can do a bank balance check through SMS. Most banks provide a toll-free number that you can give a missed call to, to check your balance. You can also send a certain message to a certain specified number from your registered mobile number. Net Banking – Net Banking is one of the most convenient and safest ways to check the balance in your bank account. You will have to visit the official website of your bank and log in with your details to avail of this facility. Once you do, you will have to click on the “View Balance” option to do your bank balance check. Mobile Banking – Most banks today have come up with mobile apps to facilitate their customers to carry out their banking activities. You can download it on your mobile and log in with your MPIN to view your balance. ATM/Debit Card – You can do your bank balance check by using your ATM or debit card at designated ATMs of your bank. This helps to know your account balance before and after withdrawing money. However, you will have to activate your ATM card if you have never used it till now. UPI Apps – There are UPI apps like Google Pay, Paytm, and PhonePe where you can check your bank balance and also do instant fund transfers. They are very safe to use and also extremely convenient and user-friendly. How to find a bank cheque number? Cheques have always held their importance as a safe financial negotiable instrument for decades now. You will have them in the form of a chequebook if you have opted for one. Every leaf in the chequebook is called a cheque with your account number, a cheque number, a MICR code, an account code, and a transaction ID printed on it. A cheque number is a six-digit number printed on the bottom left of your cheque leaf. This number is very crucial in checking the status of the cheque. You can also use it to give a standing instruction to your bank to stop payment. In case someone has paid you money through a cheque, you will have to mention this number in the challan while depositing it into your account. A cheque can be cashed or deposited, depending on the type of cheque that you receive. Here are the different types of cheques you should know about if you are new to banking: Open Cheque – An open cheque is an uncrossed check that individuals can use to encash or deposit into their accounts. They can also transfer their cheque to another payee. Bearer Cheque – A bearer cheque is usually given to a beneficiary or representative of the payee. It can be cashed at the bank by the one to whom it has been issued. However, the cheque leaf has to contain the word “carrier” for it to be processed. Self-cheque – A self-cheque is a cheque with the payee’s name as “Self” written on it. This is the one you write when you wish to withdraw cash from your account. The drawer and the payee are the same people here. It is important to maintain this cheque safely so that it doesn’t fall into the wrong hands. If it does, the holder can easily cash it at the bank where it was issued. Account Payee Cheque – This cheque will contain the word “Account Payee” within the two parallel lines drawn across the top-left corner of the cheque leaf. Such a cheque can only be transferred to the account of the person, whose name is written on the cheque. It is the safest way of issuing a cheque. Crossed Cheque – Thecrossed cheque is basically a bearer’s cheque with two parallel lines drawn at the top-left of the cheque leaf. This cheque can only be deposited into the account of the payee, whose name is mentioned on the cheque. Like the account payee cheque, this is also a very safe cheque to issue. The other types of cheques include post-dated cheques, banker’s cheques, and traveller’s cheques. [B-02] Summing up Advancements in technology have made banking convenient and safe for today’s customers. You can easily do a bank balance check or identify the bank cheque number with the help of your mobile phone or desktop. For more such articles, log onto Piramal Finance.

08-11-2023

Cards

Important Benefits of Using Credit Cards in India

Being able to manage our finances well is a very important aspect of our day-to-day lives. You must be aware of the many different financial tools that are available to everyone around you. From debit and credit cards to savings accounts and several schemes, it has become much easier for people to gain financial security. We belong to the digital age, which means that we can shop in physical stores as well as online. A credit card will come in handy for you if you are a frequent shopper. There is a strong misconception about the use of credit cards in India. This is due to the strong rates of interest, and hearing about the cons from people. You might feel discouraged about applying for one. However, a credit card is not only convenient for you; it also provides numerous credit card benefits. You can get discounts, cashback, loyalty rewards, and much more. This article will address all your concerns, and list the numerous credit card benefits that you can avail! [B-01] Advantages of having a credit card Improve your CIBIL score CIBIL stands for Credit Information Bureau India Limited. It is a credit information company that calculates your credit. Every time you pay your credit card bill, the information is reported to credit card information companies. They then maintain and update the scores. Your CIBIL score can go up if you make each bill payment on time. This leads to a great credit score and credit card benefits. A good credit score is important because it is required to get approval for a loan. It is also required to get an unsecured credit card in the future. Not paying credit card bills on time will negatively impact your credit score. It will make you miss out on the credit card benefits. Set up recurring payment plans A recurring payment occurs at a set interval, which can be weekly, monthly, or annually. You can set this up with a company that offers this service. For this, you have to submit the details of your card. The company will then deduct the money that they are owed on their own. You could use recurring payments to pay all your bills automatically. Electricity, water, gas, and all other bill payments can be set up as recurring payments. This will help you if you are forgetful and get late on payments. This way you can avoid late fees and penalties, which is another credit card benefit. Buy immediately, pay later One of the best credit card benefits is purchasing items now and paying for them later. Suppose you see something you like in a store. But you do not have enough money in your bank account to purchase it. A credit card becomes your best friend in such a situation. You can buy the item and then, when you get your salary, pay back the bill. There is a period when you are not charged any interest on your credit card. This differs for each credit card provider. Usually, the period is 30 days, but certain card providers can extend it to fifty days. Cashbacks, frequent flyers, and reward points When people see a deal that is too good to be true, they reject it outright. If you understand the tips and tricks, a credit card can help you save a lot of money in the long run. Most credit card providers have certain reward points, cashback, and air mile schemes. These are great credit card benefits to have. These benefits are based on each purchase you make with the credit card. For every one hundred rupees you spend, you might end up saving between 0.25 percent and 3.3 percent of it. EMIs Another great reason to apply for a credit card is the option of getting an EMI. EMI is known as “Equated Monthly Installment.” These installments need to be paid regularly within a certain time frame. If you are thinking of making an expensive purchase but do not want to use your savings for it, an EMI is the way to go. You pay monthly installments over a longer period rather than paying the full amount at once. An EMI makes it easier for you to purchase items you might need. EMIs also reduce your need to take out a personal loan to pay for necessary but expensive purchases. Security It is inherently safer to carry around a credit card than a lot of cash. You do not need to worry about losing money with your credit card. Even if you do misplace it, there is an easy way to ensure that your credit remains safe. You can call your bank and connect with their 24/7 helpline. The bank will help you block your card, and any transactions made will be canceled. Notifying your bank is of utmost importance. It should be done the second you realize that your credit card is not with you. The bank will then cancel your card and issue you a new one. [B-02] Conclusion While there are some concerns regarding a credit card, the benefits surely outweigh the risks. A credit card is a financial tool that can work wonders if used correctly. It is not only convenient, but also offers several benefits. Visit Piramal Finance to learn about how you can be more financially literate.

08-11-2023

Personal Loan

What are the Top Advantages of the Personal Loan EMI Calculator?

Looking for higher education in Canada but don’t know where to start? Waiting for years to renovate or improve the house but still unable to manage the money for it? A Personal loan EMI Calculator will help you find the right loan. Considering that you can get solutions to all of your investing-related issues. Read every word on this page very carefully. We will learn about the personal loan EMI calculator and its key benefits in depth. [B-01] What is a Personal Loan EMI calculator? Personal loans can be disbursed quickly and don’t require collateral. They can be put to many uses, such as the growth of an existing firm, the payment of higher education, holidays, emergency expenses, and so on. As a result, unsecured loans like payday loans and car title loans have grown in popularity. The interest rates, your ability to make payments, and the length of time you’ll have the loan are some of the most crucial considerations when taking out a personal loan. Personal loan EMI calculations done by hand can be time-consuming and error-prone. Due to this, the personal loan EMI calculator should be used. When you take out a personal loan, you’ll have to make payments on both the principal and the interest. When you take out a personal loan, you’ll need a tool called an EMI calculator to figure out how much money you’ll have to pay back each month. Before applying for a personal loan, you can find out how much you’ll have to pay back each month by using an EMI calculator. Learn how the personal loan EMIS may affect your spending habits and personal lifestyle. Top Advantages of the Personal Loan EMI Calculator Easy to use: The PL EMI calculator’s ease of use is arguably its greatest strength. It’s simple to use and has clear instructions for doing anything. If the lender cares about the borrower’s ease and understanding, they will go out of their way to explain how to use the personal loan EMI calculator. For further information, you may check out the loan provider online. Next, specify the loan amount, interest rate, and term length for which you are applying. Repayment terms for personal loans typically last between one and five years. To further facilitate the use of the personal loan EMI calculator, several financial institutions also offer a corresponding mobile application. Also, reputable lenders offer help over the phone or in person. They can help applicants figure out their EMIs and get through the rest of the application. Time-saving: The PL EMI calculator’s primary value is that it provides quick, precise results, freeing you valuable time. Instead of making a trip to the bank, waiting in line, and wasting time, you may use an EMI calculator for personal loans right from your computer. The remaining steps of the loan process are then completed. And there’s no need to fax in piles of paperwork or call an agent to figure out your personal loan’s total cost and interest rate. A personal loan EMI calculator is convenient because it can be accessed from anywhere, whether you’re at work, on break, or on vacation halfway around the world. The only thing you need is a safe and reliable internet connection. Accurate results: The precision of the results is a major advantage of the PL EMI calculator. There is always room for error when determining interest using a manual computation approach. There is no need to manually calculate the amount of interest due and possibly make a mistake. There’s also no need to manually try out different permutations of loan terms, interest rates, and the like. A personal loan EMI calculator can provide you with precise and timely results for numerous loan possibilities in a matter of minutes, if not seconds. The system is set up so that you can try out different loan amounts and change the factors that affect your monthly payment (EMI) without hurting your credit score. Easy comparison of personal loan plans: You can check your credit score when using a personal loan EMI calculator to determine the monthly payment amount for different loan terms and loan amounts. Asking gentle questions is simple. In addition, you won’t have to pay any sort of agency premium or middleman commission to perform these evaluations on your behalf. With this method, you can easily try out several kinds of loans. You can calculate a manageable loan amount that will not have a negative impact on your regular bills, essential costs, or quality of life.Keep in mind that the personal loan EMI calculator is just one tool at your disposal; you are under no obligation to choose the first plan it suggests. Simplifies loan planning: Personal loan EMI calculators are made to help you understand how much interest and the principal are payable for a specific loan amount, which simplifies loan planning. Personal loan EMI calculators have quickly replaced manual calculations as the standard method of determining monthly loan payments. The EMI amount is only part of the information that can be obtained from a personal loan EMI calculator. An amortization table or schedule for the entire term of the personal loan is also included. Although the term “amortization schedule” may sound complicated, all it refers to is a table or chart that shows how the total loan amount is divided up throughout the loan’s repayment period. The amortization table details the monthly repayment of principal and interest from the beginning of the loan term to its conclusion. Throughout the term of the loan, the amortization amounts will remain constant. Having this table at your disposal might help you budget for your loan payments in advance and avoid falling behind. It’s useful for figuring out how to balance your loan payments with other expenses and living expenses. If you don’t plan and prepare well, it can be hard to make the monthly loan payment. To conclude: Because of their flexibility and convenience, unsecured personal loans have been rising in popularity over the past few years. Personal loans are popular because they do not require collateral and can be used effectively during times of urgency and financial constraint, although they do have slightly higher interest rates than other loans, such as a loan against property. Borrowers now prefer online EMI calculators over manual calculations when taking out a personal loan. However helpful a personal loan can be, Poonawalla Fincorp is aware that it can also center your life around making payments. We advise that you obtain a personal loan only after carefully considering several criteria, including the size of the loan, your ability to repay it, the interest rate, the length of time the loan is for, and more. If you want to apply for a personal loan with confidence and clarity, use a personal loan EMI calculator. [B-02] Conclusion The purpose of this article is to give a comprehensive examination of the Personal loan EMI Calculator. You should give careful consideration when calculating your personal loan. The Personal loan EMI Calculator A personal loan EMI calculator can help you manage your monthly repayments. You will be able to find the best repayment plan that suits your financial needs and requirements. Before making any decisions, it is critical to consider all possible outcomes. Investment Reliable does not offer financial advice, but we do provide unbiased information and evaluations on trading, investing, and finance. Users ought to always carry out their research. Also visit Piramal Finance for more in-depth, educational, and financial articles.

08-11-2023

Personal Loan

Reasons Why You Should Apply for a Personal Loan

Personal loans are unsecured loans that are given without collateral. They give people a free hand in emergencies and don’t tell them how to spend the money. Many people have turned to personal loans over the past few years instead of borrowing from family and friends. People take out personal loans when they don’t have enough money during a tough time. A personal loan has several other benefits. People don’t have to wait a long time. Also, even though the interest rate on unsecured personal loans is higher than that on secured loans, it is still less than what private moneylenders charge. One of the best things about personal loans is that they can be used for many different things. So, it is very crucial to know why people apply for personal loans and what the eligibility is for these kinds of loans. [B-01] Reasons why people apply for personal loans Debt Consolidation One of the most common reasons to use a personal loan is to pay off other debts. When people apply for a loan, they pay off other debts, like credit card bills. They only need to pay monthly installments. By keeping track of all the debts, anyone can figure out how long it will take to pay them off. Medical Emergencies Lifestyle issues sometimes lower the quality of life. So people need medical treatments. All insurance plans do not cover all diseases and treatments and require out-of-pocket payments. In these cases, an instant personal loan is a blessing for everyone. Anyone can use a personal loan to pay for medical costs or treatments. Funding Holiday The routines of daily life can cause a lot of stress. This is why it’s necessary sometimes to take a break. Going on a trip or vacation can bring great joy and refresh a monotonous life. Sometimes, it can be expensive to plan a vacation. That is why no one can take that break. To get rid of this, anyone can apply for an instant personal loan to pay for their dream vacation. To expand business Many companies provide small company loans as personal loans to assist small and medium firms in growing. For example, if anyone already has a business that brings in at least Rs. 15,000 per month, he can apply for a personal loan to grow it without putting up any collateral. Also, he won’t have to follow any rules about spending money! Home improvements It’s common to get a personal loan when anyone needs to fix something in their house or wants to change its appearance. People can apply for a personal loan without putting up any collateral. They can pay back the amount in small, affordable EMIs instead of paying a large sum all at once. This way, personal loans help everyone with their home improvements. Getting a higher education Traditional education loans have a lot of rules and conditions. Some loans require admission to a specific college. Also, they have strict rules about how to pay them back. It takes years for students to get out of debt. A personal loan is always the best choice because students don’t need to meet any requirements to get one. Wedding In India, it’s common to have a big wedding. People usually don’t worry about spending on their own or their children’s weddings. Often, they even borrow money to pay for their dream wedding. A wedding also has some unplanned costs. So people can take a personal loan without putting up any collateral. Shifting and relocating The costs of moving to a new place are a new burden on the household budget. If anyone is not careful, the shifting costs can leave them without enough money. This is a great time to use a personal loan. Obtaining a personal loan is a simple way to cover all moving expenses.Since there are no rules about how to spend money, the borrower can use it. Personal Loan Eligibility Requirements Before applying for a personal loan, applicants must verify their eligibility. They can find all of this online with just a few clicks. Most loan requirements are based on the borrower’s work history, which can be divided into two main groups. ParticularsSalariedSelf-EmployedAge21 – 60 years21 – 65 yearsMinimum IncomeRs.15,000/monthRs. 5 5 lakh p.a.Loan Tenure12 – 60 months12 – 60 monthsMaximum Loan AmountRs.40 LakhRs.40 LakhCo-applicantNot mandatoryNot mandatoryEmployment TypeEmployees of private companies and government officesSelf-employed personsEmployment Details2 years work details; 1 year with the present companyFor the self-employed, there are not many restrictions, but business owners need to submit their minimum income receipt. CIBIL Score750+750+Residential StatusIndia Documents required to apply for a personal loan To approve a personal loan, lenders need some paperwork. Identity/Age Proof (Any one)Ration cardPAN cardPassportAadhar cardDriving licenceVoter ID cardBirth certificateAddress Proof (Any one)Aadhaar cardPassportRation cardUtility billsDriving licenceIncome Proof (Any one)Last 6 months’ bank statements/salary slipsForm 16Bank passbookCopy of pension payment orderIncome tax returnsPhotographsPassport size photographs How to get a personal loan with low interest rates? Credit scores matter With a credit score of 750 or higher, it’s easier to get a personal loan. To get a personal loan on time, everyone should keep their credit usage below 30% and not apply for credit cards. Repayment History People should always pay their loan payments on time. It makes it easier for lenders to negotiate interest rates. Compare personal loan rates Compare personal loan rates and lenders online based on eligibility and requirements. Lenders offer personal loans with low interest rates during certain times of the year. People get a better deal on their loans. [B-02] Wrapping-Up A personal loan can assist a person in meeting his or her short-term financial needs.They pay for major costs like debt relief, emergency needs, and more. These loans are paid back every month. The borrower’s situation could make it take longer. So, personal loans are one of the easiest ways to get cash quickly because the loan term is shorter, there is no collateral, and there is no paperwork. Best of all, anyone can try to get it. People in India are slowly taking out more personal loans because they are easier to get and because more people are learning about money. If anyone needs to know more about personal loans, they should visit the Piramal Finance website to explore their products and services.

08-11-2023

Cards

Top 10 Best Credit Cards In India Based On Your Need You Should Know

Everyone needs a unique credit card depending on their financial outlay. The type of credit card depends on your financial needs and specific requirements. Understand all the available options for credit cards in India. A credit card is a useful financial instrument. There are many credit cards available for selection. Depending on your age, profession and earnings, you can get a credit card that suits your needs. Browsing for the available card options based on specific needs will help you select the best credit card. The use of credit cards is more prevalent among the younger generations as compared to the elderly. The concept of ‘buy now and pay later’ is very attractive to them. Also, the option to redeem credit card points makes them a highly desired financial product today. [B-01] Top 10 Credit Cards In India For Every Need HDFC MoneyBack Credit Card This card is most suitable if you are a beginner. It helps you save money and build your credit score. The card gives you benefits like cashback and reward points. Thus, you will save money with every rupee spent. It is among the best credit cards because you get two reward points for every INR 150 that you spend on your card. And if you make a transaction online, you get four points for the same amount. After collecting 2500 points, you can redeem them for air miles or gifts. You can apply for this card if you earn a monthly income of INR 15000 or more. HDFC Diners Club Black Card It is the best card if you are looking for a premium option to redeem credit card points. It is perfect for those who frequently spend through their card. It gives you unlimited global lounge access and other competitive bonuses. You can get a card limit of INR 4 lakh. You will get the lowest foreign currency exchange rates on this card at 2%. You get five reward points for every INR 150 spent on the card. Additionally, you also get six complimentary golf games in a quarter. The card is perfect for you if you desire to travel and seek top-quality lifestyle benefits. IndusInd Bank Pioneer Legacy Card It is a lifetime free credit card. And it offers the best reward points among all the options available. You get 1 point for every INR 100 spent on weekdays. The same expenditure gives you 2 points on weekends. On this card, you also get anniversary bonuses. Additionally, if you spend INR 6 Lakh in a year, you get 6000 points. There is also a sign-up bonus, and you can avail yourself of exclusive gift vouchers. SBI Card Prime This credit card is ideal if you want to make utility bill payments. You will get welcome vouchers and a priority pass for airport lounge visits. Your annual fee is waived if you spend over INR 3 Lakh using this card. It is among the best credit card due to its value for money spent. You get 20 reward points for every INR 100 spent on the card. You can redeem credit card points for lucrative offers. American Express Platinum Travel Credit Card It is the best credit card for frequent travellers. It gives you complimentary lounge access and travel vouchers. You get a welcome gift of 10000 reward points. They can be redeemed online in exchange for merchandise and discounts. This card gives you the best travel experience with added benefits and exclusive travel access. You will get 1 reward point for every INR 50 spent. But you will have to pay an annual fee of INR 5000 plus taxes after the first year. Standard Chartered DigiSmart This card is highly suitable if you are into online shopping. It gives you up to 25% discount on spendings like clothing, travel, food, groceries, and more. You can even get a discount while shopping on various e-commerce platforms. You do not pay any annual fee while using this card. But it costs INR 49 per month. Though, if you spend over INR 5000, this fee is waived. SBI Student Plus Advantage Credit Card This is the best credit card for students who want to manage their expenses. This card is exclusive to those customers who have taken an education loan with SBI. The card can be issued against a fixed deposit. This makes it a secured credit card. You get 2.5% cash back for spending on groceries or other categories. Additionally, you also get attractive cashback for all your international expenses using the SBI Student Card. Kotak Mahindra Essentia Platinum Card This card is the best for availing cashback for grocery shopping. With this card, you get a 10% cashback for every retail or grocery expenditure. With this card, you can get many perks and collect reward points. You can redeem credit card points for attractive gifts like movie tickets. Axis Pride Signature This credit card is great for NRIs. For the first year, you do not need to pay any fee. Subsequently, an annual fee of INR 500 is levied. But it is waived off if you spend more than INR 40000. You get 4 reward points for every INR 100 spent on your card. Name any category, and this card gives you the highest return value in every category. ICICI Business Advantage Black Card This is one of the best business cards out there. Using this card, you get up to 1% cashback on domestic and international expenses. The best part about this card is that the cashback is based on your overall spending. So, the more you spend using this card, the more cashback you receive. Furthermore, you can also avail of cashback while paying bills. [B-02] Conclusion Credit cards as mentioned above are tailor-made for you for a variety of reasons. Depending on your expenditure, choose one that best suits your needs. If you have been looking to redeem credit card points, you know now which option is best. Visit Piramal Finance for the best financial literacy. You can read about the details of these credit cards. Also, you can learn about the various parameters you must consider before getting a credit card for yourself.

08-11-2023

Mutual Funds

Step-Up SIP Calculator: Everything You Need to Know About Its Operation

SIPs are among the most common ways to invest in mutual fund plans. This fame is due to two key factors: rupee cost averaging and commitment. A SIP, or systematic investment plan, simply means investing a certain sum at regular times. Folks may already have invested via SIPs every month. Yet, folks may be unaware of the extent of such investments. Or folks may have money to invest but want to learn how much it may rise to check whether it will satisfy their target need or what they can do with it. There are several distinct forms of SIPs in which investors may grow or reduce their investment at their ease. The step-up SIP is one of many forms of growing SIPs calculator offered to investors. Read on to find out more. [B-01] What exactly is Step-Up SIP? SIPs are monthly investments that are made in a stable way. Step-Up SIP, also called Top-Up SIP, is a monthly investment plan in which folks raise the sum that they contribute each month. Users may raise the sum by a set percentage or in any other way they see fit. Many funds also enable investors to pick when to raise their SIP sum. As a result, as the SIP grows, so will the investment. What Exactly is the Step-Up SIP Calculator? The SIP allows folks to pick how much cash they want to invest each month. Users may raise the sum one month and lower it the next. Users must have great math skills to detect investment trends and calculate the sum. It is also time demanding. Step-Up SIP calculator assists investors by completing the calculations and giving them the results instantly. How Do Folks Use the Step-Up SIP Calculator? To employ a Step-Up SIP calculator, users do not need to be skilled in math or know anything about money. Below are the steps to calculate the returns in a couple of seconds: Step 1: Go to the main site of a mutual fund provider where users want to invest. Step 2: Browse the site for the Step-Up Calculator. Step 3: Enter the monthly sum they want in the mutual fund. Step 4: Input the growth rate or interest rate percentage from the mutual fund. Step 5: Enter the duration of the mutual fund. Step 6: Put the ‘Calculate’ tab. The output of Step-Up SIP Calculator When folks click the “compute” button, the algorithm will figure out the sum of the return based on the data they entered. The Step-Up SIP Calculator will give the following results at the end of a calculation: The first outcome that most SIP calculators provide is the total of all SIPs that people have made all across the mutual fund’s term. The second result is the approximate sum they will get from their SIP investment. The final result gives data on the total returns users will get once the fund has grown. Working on the Step-Up SIP Calculator Step-Up Calculator uses a computer algorithm to estimate investment profits. Every quarter or month, a portion of the sum of users will be computed. Enter all of the data needed for the analysis. Users do not need to submit any formula; just simple data is easily accessible to them. Advantages and Features of the Step-Up SIP Calculator Below are the benefits and features of adopting the Step-Up SIP Calculator: Financial Planning in Advance It aids in financial planning. Folks may enter all of the data before they invest. This will assist users in being prepared ahead of time. From the start of the mutual fund term through the conclusion of the term, users may handle their funds correctly. It is free to use It is a completely free Internet tool. Folks may also use their current bank’s online banking system to create a SIP. With decent internet access, users may use it from their phones. There is no room for error Because the results are generated by a computer program, there is little chance of them being incorrect. Unrestricted Use There aren’t any limits on how many times users may use this tool. Folks may continue to use it until they reach the amount they feel is appropriate for the investment. Constant usage of the Step-Up Calculator may not affect their findings. Time-saving This tool helps people save time. Users do not need to invest much time on the site. The website is fast to load. All of the data that needs to be entered is easily accessible. The estimated value may also be computed. The whole process takes just a few seconds. What is the Step-Up SIP Procedure? Setting up the step-up SIP is identical to starting a standard SIP. Investors should examine the SIPs within their portfolio and pick step-up SIPs for assets that meet their risk profiles, investing aims, and expected returns. Another essential issue in selecting the sum and method of rise in SIP, whether via a fixed sum or based on a percentage, is defining the sum and manner of increase in SIP. This is a critical choice to ensure that the higher SIP doesn’t become a financial burden for the client. Besides that, most funds enable participants to restrict their monthly SIPs. When the specified limit is reached, the SIP is changed to a normal SIP. The decision to start a step-up SIP must be made when starting the SIP, and investors must end the current SIP to stop the SIP. If the investor prefers, a new regular SIP may be established. [B-02] Conclusion SIPs allow users to invest a certain amount each month. Users gain the extra advantage of raising the investment sum with Step-Up SIP calculator. Users might plan it around their pay raise or job bonus. Because SIPs are set up regularly, people may avoid market swings. The interest that users earn throughout the years is compounded. If folks want to generate money, they should choose to Step-Up SIP. Step-Up SIP is among the various forms of SIP that investors may use to invest in mutual funds. SIPs enable the maximum number of investors to have access to mutual fund investments and gradually enhance their wealth. Step-up SIPs add to an investor’s portfolio of investments and help them reach their financial goals faster. One can visit the Piramal Finance website for more information related to SIPs. They can also explore their products and services.

08-11-2023

Cards

What is a Virtual Credit Card and how to apply for it?

We love when we have money to spend. A credit card is often seen as an extended line of credit. Many people use credit cards often. There is a good reason for it. Credit cards offer rewards and cashback. They are safe to use and also help improve a person’s credit score. However, there is always a fear of losing the physical card. This is why virtual credit cards have become an upcoming trend. This article will help you understand virtual credit cards and how you can apply for them. [B-01] What is a virtual credit card? As the name suggests, a virtual credit card is not a physical card that you can hold. In fact, it is safer than the traditional credit card. A virtual card is available online. Its uniqueness lies in the fact that its number is generated randomly online. This means that every time you use your virtual credit card to make a transaction, its number will change. How does a virtual credit card work? A virtual credit card works like a chip credit card. On chip credit cards, the single-use number changes every time the card is used. Virtual credit cards work on the same principle. Are Virtual credit cards actually safe? Yes. As the number of a virtual credit card is randomly generated and changes every time you use it, a virtual credit card is quite safe. Let’s assume that a scammer got your account number from a chip card and attempted to duplicate it. But the scammer’s efforts would be useless because the unique number changes with every use. Similarly, a virtual credit card uses temporary account numbers that scammers and hackers can’t trace. This makes virtual credit cards highly safe to use. How can you use a virtual credit card? A virtual credit card functions just like a traditional credit card. It has a unique card number, CVV, and date of validity. Virtual credit cards can be used for all sorts of transactions. The only difference is that a virtual credit card is on your smartphone. Therefore, to make the transaction, you’ll have to use your smartphone. What is the validity of each virtual credit card use? When a number is generated for a virtual credit card, it is only meant for one-time use. The number cannot be used for multiple transactions. It stays active for 48 hours only. You will need to send a new request to generate a new number if you want to make another transaction. Who can apply for a virtual credit card? A virtual credit card is only issued to the primary credit card holder. No other individual or secondary person can use the virtual credit card. There are some institutions that provide virtual credit cards to those who do not have credit cards. However, the virtual credit card given to those people would be linked to their debit cards or bank accounts. How can you use a virtual credit card? A virtual credit card can only be used for online transactions, and there is no need to swipe the card physically. Here are the steps you need to follow while using a virtual credit card: Add the card number. Enter the validity of the card. At this point, you will receive an OTP on your registered mobile number. Enter the OTP and confirm. Complete the transaction. Assume you’ve decided to use virtual credit cards. However, you don’t have one yet. Let’s take a look at what you can do in this case. What can you do if you want to apply for a virtual credit card? Make sure that your credit card provider also provides virtual credit cards. If the card provider issues a virtual credit card to its users, only then will your credit card provider will issue you a virtual credit card. But you must remember that virtual credit cards are only issued to those who hold a credit card, as the virtual credit card is linked to your pre-existing credit card service. These days, many banks and NBFCs give virtual credit cards to their customers for free. How do I apply for a virtual credit card? Here are the steps you need to follow when you apply for a virtual credit card: The first step is to check if your credit card provider has issued virtual credit cards. If the bank, or whoever your credit card provider is, gives virtual credit cards to its users, you will be asked to submit your account and card details. Once the request is processed, you will receive your virtual credit card. But what if your credit card provider doesn’t issue virtual credit cards? Don’t worry. In that case, you can simply put in a request with any bank that offers virtual credit cards to its users. [B-02] Conclusion A virtual credit card is a boon for many people. It is safe and easy to use. However, one must be aware of a challenge that can arise when using virtual credit cards. Returning items that you bought online can be a hassle. While you may get a gift card, you won’t receive cashback in your account. But all in all, a virtual credit card has many benefits, with safety being its most salient feature. And the application process is equally simple. To learn more about virtual credit cards and where you can apply for one, visit the Piramal Finance website.

08-11-2023