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Cards

How to Change Credit Card PIN Online

With a credit card, you can instantly buy something and pay for it later. The credit card company will send you a monthly bill based on how much credit you use. So, a credit card is a very important financial tool. But with everything now being digital, many credit card scams occur daily. A PIN is a 4-digit number used to identify the card details. When you pay with a credit card, the payment service checks to see if your user ID and PIN match, and only then does it let you pay. When you take money out of an ATM, the same rule applies. Suppose your user ID and PIN are different. The transaction will not go through. To keep your credit card safe, it is very important to choose a strong PIN. Remember it, and change it every few months. Initially, with the welcome kit, you get a PIN for your credit card. Once you get the kit, you should change the PIN for safety. But the question is how to change the credit card PIN or how to generate a credit card PIN. If you want to know the answer, continue reading. [B-01] What is a Credit Card PIN? A PIN and a 4-digit chip protect a credit card. The four-digit number is a unique identifier given to every card user. Users need the PIN for every single transaction they do with the card. Whether you’re taking money out of an ATM or shopping online, you’ll need to give your credit card PIN to confirm the transaction. Due to this system, it is safe to use credit cards to buy things. It is very important that you never tell anyone your PIN. Activating Credit Cards You will get a 4-digit PIN with your credit card welcome kit. The first thing you should do when you get a new credit card is to change the PIN. You can’t use your credit card until you create a new PIN. The process has become much easier because most cards are no longer sent out already activated. Instead, they need a PIN to be used. Activating a card and making a new PIN are two separate things that users need to do. With “green” or self-generated PINs, making and changing PINs for credit cards is now easier. How to Generate a Credit Card PIN? You can create a credit card PIN at ATMs or online through the net banking account. How to Generate a Credit Card PIN via ATM? Step 1: Put your credit card in the ATM and select the language you want to use. Step 2: Tap “Create PIN using OTP.” Step 3: As soon as you click on that, a “One Time Password” will be sent to your registered phone number. Step 4: Put the OTP in. Step 5: Now, type in a 4-digit PIN of your choice. Step 6: Type the PIN again and click “Submit.” Step 7: After that, the bank will tell you that your PIN has been made. Call the bank if you have a problem while generating the PIN. How to Generate a Credit Card PIN via Net Banking? Step 1: Go to your online bank account and sign in. Step 2: Select “Credit card options.” Step 3: Hit the “Change PIN” button. Step 4: The bank will then send an OTP to the phone number you gave them. Step 5: Type in the OTP, then click “Continue.” Step 6: Type the PIN you want. Step 7: Retype the PIN and click the “Submit” button. Step 8: After that, the bank will inform you that your PIN has been generated. How to Change The Credit Card PIN? How to Change a Credit Card PIN through an ATM? Step 1: Place your credit card in the ATM and select the language you want to use. Step 2: Enter your credit card’s existing PIN. Step 3: Press “Change PIN.” Step 4: Once you press that, a “One-Time Password” will be sent to your mobile phone number. Step 5: Type the OTP. Step 6: Now, enter a new 4-digit PIN of your choice. Step 7: Type the PIN again and click “Submit.” Step 8: The bank will tell you that your PIN has been modified by sending you a message. How to Change a Credit Card PIN With Net Banking? Step 1: Go to your online bank account and sign in. Step 2: Select “Credit card options.” Step 3: Hit the “Change PIN” button. Step 4: After that, the bank sends an OTP to your registered phone number. Step 5: Type in the OTP, then click “continue.” Step 6: Enter your preferred PIN. Step 7: Retype the PIN and click Submit. Step 8: You will get a notification from the bank that your PIN has been updated. Tips to Keep Your Credit Card PIN Safe Make sure you are alone in the ATM while using your cards. Ensure that no fake card readers are attached to the card slot. You can check if the card slot is real by giving it a light shake and seeing if it moves and seems loosely attached. You should never tell anyone your PIN or write it down. Make sure not to send it through email, text, etc. Choose a PIN for your credit card that isn’t easy to guess, like your birthday, your parents’ birthdays, etc. Keep it simple, but don’t give anything away. Don’t save your PIN on internet sites where you buy or sell things online. Also, don’t let your credit card PIN be saved automatically on sites where you buy things. Use webpages that start with “https” for payments because they are safe and will protect your personal information. As a safety measure, you should change your PIN often and check your bank statements to see if anything strange has happened. Try not to use the same PIN for all of your cards. If one of your cards is stolen, it could mean the same for your other cards. Don’t give your PIN to anyone who asks for your personal information, even if it’s someone who works at the bank. Also, watch out for phone calls and emails that trick you into giving out your credit card number or other private details. [B-02] Wrapping Up The bank gives you a four-digit Personal Identification Number (PIN) when you get a credit card. This is to make sure that your transactions are safe. When you use your credit card to pay for something, you must verify the payment by entering your unique PIN. If you know how to change your credit card PIN, you can change it anytime to protect yourself from fraud. Piramal Finance has more blogs related to managing your personal finances. Visit their website to learn more and check out the products and services they offer.

08-11-2023

Home Loan

Explore the Various Uses of a Home Loan EMI Calculator

For many people, having a home is among the most crucial aspects of life. But buying a home is difficult because of high real estate costs and a lack of funding. Home loans have made it easier for the average person to get money. But any credit, including home loans, comes with many responsibilities. Thus to get an idea about your EMIs, you can use a home loan EMI calculator. Before borrowing a lot of money, knowing where your money is going is essential. To get a home loan, you need to plan because the repayment period is long and will affect your funds for a long time. If you know ahead of time how much you spend each month, you can avoid financial problems. It’s a free tool that only needs a few details from you to figure out the monthly payments. You can also figure out monthly payments manually, but it’s a bit of a hassle. Let’s start by using the home loan EMI calculator. [B-01] Importance of EMI EMI means Equated Monthly Installment. Each EMI comprises a part of the loan’s principal and the interest the bank charges to the lender. After each EMI is paid, the amount of the principal loan that is still owed goes down. The loan amount, the length of the loan, and the interest rate are all things that can make or break an EMI. For the same loan balance and interest rate, the EMIs will be lower with a longer tenure and higher with a shorter tenure. There are multiple ways to figure out a home loan’s monthly payment. A home loan EMI calculator is one of them, among others. But, just before we get to that, it’s important to know a few key terms. What is a Home Loan EMI calculator? The Home Loan EMI Calculator is a tool you can use online to figure out your monthly EMI. The calculator will tell you exactly how much EMI has to pay based on some information about home loans. It also has a chart that shows when payments will be made and how much the total payment will be. Benefits of Home Loan EMI Calculator There are many benefits to using the home loan EMI calculator. This online tool enables you to plan your home loan carefully. Let’s look at some benefits of a home loan EMI calculator. It is Easy, Convenient, Quick, and Right: When planning a home loan, you can’t go wrong by looking at the numbers. Manual calculations can cause errors. The home loan EMI calculator solves this problem because it always gives you the correct answers. Quick Calculations: Making calculations about your loan with a pen and paper will take hours. These calculations, however, can be performed with a single mouse click using the EMI online calculator. With this online EMI calculator, you don’t have to keep checking and rechecking your work. Planning for Money: You can avoid future money problems by using the EMI loan calculator. If you know the monthly payment for your home loan ahead of time, you can better plan your budget and get a payment that fits your needs. Good for Loan Management: With EMI payments, people sometimes have extra money that they can use to prepay. The home loan EMI calculator can help people look at their finances and figure out how the down payment will help them pay off the loan before the due date. Examining Loan Offers: A loan calculator lets customers compare offers by different banks. The results show each EMI and the total cost of borrowing. This will help clients choose the best loan for their needs by narrowing down their options. No need for personal information: You don’t have to worry about security when you use a home loan EMI calculator because you don’t have to give out your personal information. This makes it entirely safe to use. You may have had trouble getting a home loan, but now you’re ready to start the route to your new home. If so, the next step is to use an online loan calculator, like a home loan EMI calculator, to figure out your EMI. Some Steps to Calculate Home Loan EMI Here are three easy steps to use a home loan EMI calculator to figure out your EMI: Step 1: Put the home loan amount into the calculator. Find out how much the house you want to buy will cost, such as stamp duty and other fees. Then, figure out how much money you have saved up that you can use as a down payment on the loan. You can figure out how much of a loan you need by taking the down payment from the total cost of the property. Put this loan amount into the calculator to get to the first step of figuring out your EMI. Step 2: Put in the repayment tenor Lenders let people take a long time to pay back their home loans. Think about how long it will take you to pay back the loan. Then, put the number of years it will take to pay off the loan into the home loan calculator. Step 3: Type in the rate of interest Find out how much interest the lender charges. To finish the last step of the calculation, insert this interest rate into the calculator. Once you’ve put in all the numbers, you can click “calculate” or “enter,” and the house loan calculator will figure out the exact EMI you’ll have to pay for the loan. [B-02] Conclusion Most people are making EMI payments for multiple loans at once. If you belong to this group, you already know that taking on additional loans will impact your financial situation. The home loan EMI calculator allows you to take into account your other loans and guides you in choosing the tenure and rate of interest after figuring out the other payable EMIs. If you have the money to pay off your mortgage (or other loans) before the term is specified, you can also easily calculate the costs associated with the foreclosure. For more information, you can visit the Piramal Finance website and explore their products and services.

08-11-2023

Dream Mobile

How to Link Your Aadhaar Card with Your PAN Card and Mobile Number

In India, Aadhaar and PAN cards are common identity proofs. The government has made Aadhaar and PAN linking with a mobile number mandatory. Citizens should link their Aadhaar, PAN, LPG connection, and bank accounts. It helps the government keep track of citizens’ financial activities and helps prevent tax evasion and fraud. Linking your Aadhaar and PAN with your mobile number is a fairly simple process that you can do online from the comfort of your home. This article outlines the steps for Aadhaar and PAN linking with mobile numbers. [B-01] What are Aadhaar and PAN? Aadhaar Card is a unique identification document issued to every citizen of India, irrespective of age, gender, and profession. It contains 12 unique digits along with contact details and biometric information. The income tax department sanctions PAN cards for citizens of India. The PAN card contains a ten-digit unique number. Every taxpayer must have a government-issued PAN card. How to Link Aadhaar with PAN Card? The Government of India has extended the Aadhaar and PAN link dates to December 31, 2023. The last day to link without paying the fine of Rs. 1000 was March 31, 2022. PAN and Aadhaar linking can be done via online or offline modes. Apply online via the official income tax portal. Further, you can submit the documents mentioned for offline Aadhaar and PAN linking. Documents for PAN and Aadhaar Card linking PAN card Aadhaar card You can easily link your Aadhaar and PAN card online by following two simple steps:- Step 1: Pay the fee of Rs. 1000 on NSDL under the little head (500) and major head (0021). You can visit the Income Tax Payment Page and select Challan No. ITNS 280 under the non-TDS category. On the next page, you can select (0021) and (500) one by one. Scroll down to fill in the personal details like address, contact, and PAN card details for FY 2023–24. Now select the mode of payment for fees. Step 2: Deposit the Aadhaar and PAN link requests for 2023–2024. Follow the page and make payment for submitting the final application for the PAN and Aadhaar link. It usually takes 4-5 days to update and link them. There are three other methods to link your Aadhaar and PAN card. Method 1: You can link your Aadhaar and PAN card via SMS. Method 2: You can link via logging into your account. Method 3: You can link without logging into the account. You may check each step of the Aadhaar and PAN link methods. You will be able to choose wisely. Method 1: You can link your Aadhaar and PAN card via SMS. Send SMS to 567678 and 56161 from your registered mobile number. Use any one number to send an SMS. UIDPAN<SPACE><12 DIGIT AADHAAR><SPACE><10FDIGIT PAN> For example, UIDPAN 123456789123 HMRP1234L Method 2: You can link via logging into your account Step 1: Visit the income tax e-filing website and register if you have not already. Step 2: Fill in the user ID and password to log into the portal. Step 3: Go to “My Profile” and select “Link Aadhaar” under the “Personal Details” options. Step 4: Enter personal details like name, gender, DOB, and all the other details asked in the e-form. Fill in the Aadhaar number and double-check all the information. Give your consent to proceed and hit the Link Aadhaar button. Step 5: The screen will show pop-up messages informing you to accept the application. Method 3: You can link without logging into the account. Step 1: Visit www.incometax.gov.in and select the tab “Our Services” from the bottom. Step 2: Enter the PAN and Aadhaar card numbers on the page and click Proceed. The page will now show a payment message on the e-filling portal. You have to verify by clicking “Continue” and “Link Aadhaar.” Next, fill in the required details and submit a six-digit OTP to verify. You have successfully linked your PAN and Aadhaar cards. Follow the steps below to check the Aadhaar and PAN card link status: Step 1: Visit the e-filing portal of the income tax department. Step 2: Go to ‘Quick Links” on the homepage and select “Link Aadhaar Status.” Step 3: Enter your Aadhaar and PAN card numbers. Step 4: Click “View Link Aadhaar Status” and know the status. The website will show you the Aadhaar and PAN card link status. If the cards are linked, you can fill out the income tax return form. If the cards are not linked, then a pop-up will appear below. Now, if your mobile number is not linked to your Aadhaar, then you may check the steps below. How to link Aadhaar with a mobile number? Here are ways to link your Aadhaar with your mobile number without visiting your mobile operator. New SIM users can link their Aadhaar to their mobile number. Those who wish to get a new SIM and want to link it to their Aadhaar can visit the nearest mobile operator and follow the below steps: Buy a SIM card and provide an Aadhaar card copy and electricity bill as address proof. Complete the biometric scan to verify your Aadhaar. You can take your new SIM after verification; it will be activated in one hour. You can link your Aadhaar card with your mobile number online using an OTP by following the steps given below. Go to the telecom operator portal website from your phone. Enter the mobile number and request the OTP. OTP will be sent to the registered mobile number. Enter your OTP and proceed further. The user has to accept the terms and conditions and click Proceed to link Aadhaar with their mobile number. The user will receive a confirmation on the verified mobile number. [B-02] Conclusion The Government of India urges citizens to link their Aadhaar and PAN with their mobile numbers. It helps the government keep track of financial activities. For more such informative articles, visit Piramal Finance. They also offer a wide range of financial products and services. You can browse the various products and services on offer.

08-11-2023

Personal Finance

How Do I Teach My Child Financial Planning?

Schools teach only a few basic life skills. Financial literacy is not a part of the school’s curriculum. But, financial planning is a necessary life skill for every child. So, parents should start teaching their kids money management from a young age. 96% of parents feel that their children don’t have financial literacy. To teach financial skills, parents should talk with their children about making, spending, and saving money. There are age-appropriate activities to teach your kids the value of work and money. Teaching them budget and savings will help them understand the benefits. They must know how to manage their finances in the digital world. [B-01] Financial Responsibility – Why is it Important For Kids? 93% of teens in India are interested in digital payments. Yet, only 22% of those are confident about using it. Modern teens are self-opinionated and independent. Empower them with financial literacy to help them manage finances in a better way. Newer investment methods are available now, and today’s youth are more interested in crypto assets. Teaching financial planning right from a young age is important because it helps in: Understanding financial health Realising the importance of budgeting Instilling saving habits Avoid impulse shopping Planning before spending Knowing the rewards of a financially secure future Age-Appropriate Tips To Teach Financial Planning To Kids Experts say that you can teach your young child financial planning when they can start asking what they want. Children as young as one-year-old are capable of making simple decisions. Hence, teaching financial responsibility should begin at the preschool stage. Simple activities in everyday life will help them learn about money and its importance. Pre-Schoolers And Elementary Kids (7 And Under) Talk About Money Pre-schoolers understand the world around them by observing. Include money conversations in your household to teach financial skills. It is not good to scare your children with conversations about debt. Share your enthusiasm for savings and bargains. The important phrases to teach financial skills to preschool kids are share, save, and choose. Shop With Children Take your children shopping. Talk to them about discounts, deals, and how you can save money by choosing products from the sales rack. It will help them understand pricing and value. During checkout, encourage them to give cash at the counter and get the change back. Using real money instead of cards will help them understand that money is a tangible entity. Start a Savings Account Kids are always excited about piggy banks. Encourage them to put more money into the piggy bank to get their favourite toy. You should also start a savings account in the name of your children. Whenever your kids receive a large amount of money during the holidays, ask them to deposit it in their bank account. Include Math Games Playing grocery shopping, restaurant games, etc., at home will be interesting and educational for your child. Encourage your children to exchange fake money for goods and services. It will help them understand money exchange in the real world. When your kids are a little bigger, play math games. Give them a simple calculator to add and subtract numbers. Many apps are now available to teach maths to young kids. Older Kids And Teens (8-12) Encourage Them to Use Their Skills To Earn Older elementary kids can start making some money using their skills. Experts suggest that you don’t pay your kids for their chores. Instead, make them work outside the home and earn money, even if it is very small. For pet-loving kids, show them they can walk their neighbours’ dogs and get paid for it. If your kids enjoy crafting, they can make something and sell it to friends and family. Work with them to create a small business plan. Teach them how to add the cost of supply and work hours to fix the price of their product. If they are using skills like raking snow, dog walking, etc., they can also learn about pricing non-tangible entities. Talk to them about your job and how it helps turn your skills into money. When they see you excited about your job, they will become interested in making money. Talk More About Spending When your kids have saved enough in their piggy bank, they will want to discuss using it. Encourage them to find a good use for their savings. Use positive reinforcement to help them understand whether they are making good use of their money. They can splurge on sweets, buy a new video game, or buy something they have always wanted. Teach them about needs and indulgences by making them understand the consequences of their choices. If your child wants to buy a toy that was not budgeted, let them know that it will come out of their savings. Inculcate Philanthropy Talk to your child about donations and how they can help the less fortunate. Encourage your child to donate. Let them give away a portion of their savings for a charitable cause. It will teach them to spend money for the benefit of others. Teens And Older Kids (13+) Use Apps to Track Money Older kids have bigger allowances. They need to know the right way to budget and spend. Apps are available to track debit cards and wallets. Parents can make direct deposits on debit cards that their children can use to spend. The tracking app will help them understand where their money went. However, providing a credit card for teens is not a good idea unless they earn to make their credit card payments. Talk More About Spending And Saving Communication is the key to imparting financial planning knowledge to teens. Talk to them about controlling spending when going out with friends or on dates. Show your kids that you have been saving up for their college funds since their birth. Encourage your kids to research ways to pay for college. Enrol them in scholarships wherever applicable. Your kids should also learn that their education has a financial impact on you. Introduce them to investments. Provide them with the knowledge to choose stocks and track their value. [B-02] Conclusion India has great potential to be one of the top financially literate countries in the upcoming years. The country has 27.6% of people in the prime age group of 25-44, which can go up by 20%. Parents have a huge responsibility to help them learn about financial planning. If youngsters have a good financial education, it can increase their standard of living and improve the country’s economic growth. A financially savvy population will have a positive global influence. To learn more about financial planning for kids, visit Piramal Finance to access guides, tips, and tools.

08-11-2023

Personal Loan

A Quick Guide: 5 Easy Steps To Get A Personal Loan In India

Personal loans are short-term loans that can be used for a wide range of purposes. For example, you could use a personal loan to pay off your debt, fix up your house, or plan the wedding of your dreams. Personal loans are available from banks, credit unions, and online lenders. When you borrow money, you have to pay it back over time, often with interest. Personal loans in India work the same as how most other loans work. When you want a loan, you fill out the paperwork and send it to the bank. The bank checks your creditworthiness and then gives you a loan. When you say yes, the money will be sent to your bank account and you can use it however you want. Personal loans in India are on the rise because they are becoming more popular and people want them. People can easily take advantage of the many benefits of a personal loan. [B-02] Why Should You Acquire a Personal Loan in India? Personal loans in India have several benefits. You should consider them if you’re trying to decide between a credit card, another type of loan, and a personal loan. It will help you make an informed choice in the long run. Here are the main benefits of personal loans: Easily spreads out the cost of a big purchase - A personal loan lets you spread out the cost of a big purchase like a vacation, wedding, or new car over a longer timeframe. This makes it much more affordable. And, it also means you won’t have to cut back on your own finances to pay for it. Teaches you to take care of your own money - Personal loans aren’t always used to buy big things. You can also use them to better handle the debt you already have. This comes in the form of a debt consolidation loan. In this loan, you combine several debts, such as those from credit cards, overdrafts, and old loans, into one product. You could save money on interest because you will only pay one rate instead of multiple rates which could add up to a higher total cost. No collateral or security is required - By choosing an unsecured personal loan, you avoid the risk that comes with a secured loan which requires you to put up your home or another asset as collateral. This type of borrowing is based only on your credit score. Hence, you do not need to put up anything else as security. What Are The Different Kinds of Personal Loans in India? Personal loans are one of the quickest ways to get money. But a lot of us are unfamiliar with the different kinds of personal loans in India. Let’s check them out. Short-Term Personal Loan A short-term personal loan starts at Rs. 25,000 and can be paid back to the lender in a few months. This personal loan adds money to your account within a few hours and doesn’t require much paperwork. Wedding Loan The goal of this loan is to help families and couples deal with the stress of paying for a wedding. It can be used to pay for big things like the venue, where guests will stay, jewellery, food, decorations, etc. Most of the time, the rates on these loans are higher during the wedding season. Travel Loan This is the kind of loan you should get if you’re planning a trip and want to pay for it without using up your savings or messing up your monthly budget. A travel loan can get you the amount you need faster and at a lower interest rate. Agricultural Loan Farmers can get this type of personal loan in India that will help them buy equipment, tools, and raw materials that they need for farming. This loan has a very low-interest rate, which encourages farmers to make more money with what they do. Home Renovation Loan As time goes on, your home and way of life should change, too. As the name suggests, this loan can help you pay for repairs or improvements to your home. So, if you wanted to fix that leaky ceiling or get wood floors, this loan can help you do that without putting a dent in your savings. Medical Loan A medical loan is a type of personal loan that you use to pay for things like surgery, routine medical procedures, and trips to the emergency room. You can also use a medical loan to pay for high health insurance deductibles or to consolidate medical debt. Get a Personal Loan in India With These 5 Steps Apply Online - If you want to apply for a personal loan in India, the first thing you’ll need to do is fill out an application form. This form will ask you for information about yourself and your job. The lender will get a better idea about your background and income here. Lender verification - When the lender gets your loan application, they check the information you gave. They specifically look at your age, monthly salary, profession, etc., to see if you are eligible for the loan. KYC process - Once your basic information has been verified, the lender will start authenticating the documents you sent with your application form. Maintain a good credit score - On average, to get a personal loan in India, you need a credit score of 600 or higher. But, as was already said, different lenders have different credit score requirements. When you apply for a personal loan, your credit score is a big part of whether or not you will get it. Processing fee - Once the loan amount and tenure have been decided, you’ll have to pay a processing fee to get the loan money. After you pay the fee, the personal loan amount will be sent to your account in 3–5 business days. Conclusion Personal loans are becoming increasingly popular in India. The trend can be attributed to the numerous advantages that these loans offer. With a personal loan, you are free to use the money for whatever purpose you see fit. Personal loans, in contrast to others, are simple to obtain, have interest rates that are reasonable, and require a minimum amount of paperwork. To learn more about personal loans in India, Piramal Finance has similar blogs for you to gain insight from. As an emerging loan lending platform, they also offer a wide range of products and services for you to benefit from.

08-11-2023

Education

How to Prevent Aadhaar Card Misuse?

The Aadhaar card has become one of the most important ways to prove your identity in India. You need it to open a bank account and file income tax returns, among other things. It is very crucial to keep the Aadhaar safe and stop people from misusing it. The Indian government has taken several steps to make Aadhaar more secure. The Unique Identification Authority of India (UIDAI) has a way for you to lock and unlock your Aadhaar number. This makes it possible to make a person’s Aadhaar number even more private and safe. [B-01] All About the Aadhar Card Number The Aadhaar number is the 12-digit number on the Aadhaar card that was given to you by the UIDAI. This is used to prove your identity and where you live to receive government benefits and assistance. While the Aadhaar card isn’t a permanent residency document, it is widely accepted as proof of identity and address. It is very important to protect the Aadhaar card and stop people from misusing it because of this. The UIDAI has many security features that can be used to protect your Aadhaar card. If you don’t have your Aadhaar card with you, you might use the virtual ID instead. To learn more about stopping your Aadhaar card misuse, read this article. Tips to Prevent Aadhaar Card Misuse Locking the Biometrics of Aadhar Card Online Use the online method to temporarily lock the Aadhaar card so that it can’t be used by someone else. You can check your Aadhar Card status on the UIDAI website. To lock your Aadhar, follow the steps below: Go to UIDAI’s official website. Tap the “Lock/Unlock Biometrics” option and send the declaration. Enter the number on the Aadhaar card that starts with “Aadhaar.” Enter the captcha code to move forward with the verification. Now, choose the option “Send OTP.” In 10 minutes, you’ll get an OTP code on the phone number you gave when you signed up. After entering the OTP code you get, tap the “Enable locking feature” option. The biometrics on your Aadhaar card will be blocked. Locking the Biometrics of Aadhar Card via SMS The first step in locking the Aadhaar card is to submit an OTP request. It can’t be misused through SMS. The layout of the SMS should be “Get OTP (the last 4 or 8 digit numbers of the Aadhaar Card)”. Send another SMS after receiving the OTP to lock your Aadhaar card. The text should look like this: “Lock UID (last 4 or 8 digits of Aadhaar number) and 6-digit OTP.” Email and mobile OTP registration For any digital services you want to use with your Aadhaar card, you will need to use the OTP that is sent to your registered phone number and email address. So, you need to link your email address and cell phone number to your Aadhaar card. The government has introduced a new feature called “time-based OTP” or “TOTP” to stop people and institutions from abusing OTPs. With TOTP, you can create a unique code that lets you use your Aadhaar card to get services. Using Virtual ID in Place of Aadhaar Number The Aadhaar Number can be used to get a 16-digit code called a “virtual ID” from the UIDAI website. You can keep using this ID until you create a new one. Virtual ID can be employed everywhere to replace your Aadhaar card and it also helps keep your Aadhaar card safe. It is fine to give your virtual ID to an institution as part of a KYC procedure or to verify the information. Once the process is done, you should create a new virtual ID so that your private details are safe and no one else can see them. As a result, Virtual ID is an excellent replacement for the Aadhaar card. Things to keep in mind Below are a few things you can do to stop Aadhaar card misuse: If your Aadhaar card is locked, you can’t use its biometric as a temporary way to prove who you are. Since you won’t be able to use the biometrics on your Aadhaar card, some of your bank transactions may be affected or take longer than usual. The OTP is the only way to get into the biometric part of your Aadhaar card. You’ll get an SMS with the OTP on the phone number you gave when you signed up. UIDAI’s service of locking and unlocking is free of charge. Before giving out your Aadhaar card information, you should always know why you are being asked for it. Never tell anyone your OTP. [B-02] Conclusion The Aadhaar card is a national ID that has a unique number for you. It is a valid form of ID and proof of address that is widely accepted. It lets you get a variety of services. In India, many facilities where you display your Aadhaar could keep paper copies of it. But they are not allowed to do that. UIDAI has made a lot of services available. They do this so that customers can keep their Aadhaar cards from being misused. Follow Piramal Finance, as it is a great financing option for everyone. Visit their website to learn more about such interesting topics.

08-11-2023

Personal Loan

How To Get A Personal Loan For Studies Abroad

Every year, students from India apply to colleges and universities in the US, UK, Singapore, Australia and many other countries to get their undergraduate or postgraduate degrees. Many families choose to take loans to finance their education. In such a financial situation, a student loan for studies abroad is often the first choice because it has low interest rates and good repayment terms and conditions. But getting a student loan can be difficult because it requires a lot of paperwork and detailed assessment by the lender. For this reason and more, a personal loan for study abroad purposes is a great option. [B-01] What Are Personal Loans Personal loans can be used for different purposes, depending on your needs. This includes paying for an education. The best aspect of taking out a personal loan for study abroad reasons is that you do not have to offer any of your assets as collateral since personal loans are unsecured loans. Personal loans are approved by lenders based on your income, credit history, ability to pay back and some other factors. Using a personal loan to finance an education allows students to use the loan amount for their fees as well as other related expenses such as accommodation, travel, academic materials and more without any restrictions. What Are Education Loans or Student Loans Education loans can help students finance their education. They are especially helpful for students who do not have access to money to pay their fees and other academic expenses. Education loans help students lessen the burden of their education-related expenses and allow them to plan their academic and professional future. Many lenders offer student loans for studies abroad and these loans can be used by students for multiple purposes, according to their various needs. Why Take a Personal Loan For Study Abroad Purposes A Single Loan Can Cover All ExpensesYou can use a student loan only for educational expenses. On the other hand, personal loans can be used to pay for plane tickets, food, housing outside of the college campus and much more. Flexible Tenure and Loan Amount With a personal loan, the loan amount can be increased if there is an increase in tuition fees, for example. Moreover, the term of personal loans can be extended to up to 60 months. Also, a student can take a personal loan of an amount of up to Rs. 75 lakh. Affordable Interest Rates The interest rate on education loans depends on multiple factors such as your academic record, the educational institution you intend to study in and the duration of the course. But the interest rates on personal loans can be much lower since they are based on your credit score and whether you meet the lender’s eligibility requirements which include age and other factors. Minimal Documentation Required Not much paperwork is needed to get a personal loan, but there are strict rules about who can get a student loan for studies abroad. People can get a personal loan for studies abroad if they have documents to prove their identity, job history, income and a good credit report. If the student does not have a source of income, their parent or guardian has to be the guarantor. Features of a Personal Loan For Study Abroad Purposes When applying for a personal loan for study abroad reasons, you should keep in mind these important aspects of a personal loan: Credit ScoreThe person who wants to borrow money should check their credit score before applying. Lenders look at credit scores to decide whether or not to approve personal loans. On a scale from 300 to 900, 750 is considered an ideal score. Loan AmountStudents and parents should carefully calculate all of their costs such as travel, housing, study materials, tutoring and more. They should also take into consideration the cost of living in the host country and apply for a sufficient loan amount. Interest RateStudents who want to study abroad should opt for a long-term personal loan so they can repay their loan in affordable EMIs once they get a job. In this context, it is important to check the interest rate being offered by the lender. Before applying for a personal loan for study abroad reasons, it is crucial to follow this process which begins with selecting the right lender to ensure you repay your loan on time. This is the process to be followed: Research different lenders and find out their interest rates, loan approval process, details on loan tenure and more. In addition to these important factors, check if they offer good customer service and other services you may require. Complete and submit the application form, which is either in person at the nearest branch or online. Submit or upload all the relevant documents along with your application form. It is important to read the loan offer document before you sign the loan agreement. Once the personal loan is approved, you are free to use the personal loan amount for any expenses you may have. Strictly follow your repayment schedule to ensure you do not default on your payments. Making your EMI payments on time can help you improve your credit score. Documents Required For a Personal Loan For Study Abroad Purposes Ensure you prepare the following documents before you apply for a personal loan for study abroad purposes: Identity proof documents such as a passport, Aadhaar card, passport, etc. Address proof documents such as a driving licence, passport, electric bill, etc. The last six months’ bank statements Passport-sized photographs [B-02] Conclusion Compared to other types of loans, the application and approval process of personal loans are simple. Personal loans can help students finance their education and give them many other benefits as well. While student loans for studies abroad are a popular option, personal loans for study abroad purposes are advantageous for many students since it allows them to get a loan without collateral. Furthermore, the eligibility requirements for personal loans can be met easily. For more information on personal loans, visit Piramal Finance to read more useful articles and receive guidance on education and personal loans!

08-11-2023

Personal Loan

How to Get a Personal Loan at the Best Possible Interest Rate

Personal loan interest rates are rising as the Reserve Bank of India (RBI) tries to curb record-high inflation. RBI does this to make lending more costly and to slow the economy, ideally without causing it to enter a crisis. Yet, rising rates imply that loans become more costly and less appealing than the pandemic’s record high demand. But could you still receive a personal loan with a fair personal loan interest? Here are some tactics to get a personal loan at the best rates. [B-01] Features of a Personal Loan No need for an asset A personal loan is unsecured. This implies you won’t have to provide security to get your loan. While this may cause your interest rate to increase, matching the eligibility rules can easily get you a low-interest rate. The least amount of paperwork is requiredIn this day and age, verification and paperwork are much faster. This is true for personal loans since they are quick to get and only need a few approval papers. Simple approval Personal loans are available with fast and simple approval. This is why it is the ideal option in times of money crisis. Also, the process has gone digital, which has reduced the time required for verification. Versatile in natureExcept for investing and illegal activities, a loan may be used for anything. Other types of credit, when granted, are for a specific reason and may only be used for that reason. A home loan, for example, is used to purchase a house, while a vehicle loan is used to buy a car. On the other hand, a personal loan may be used to cover any pressing needs. Simple Strategies For Reducing Personal Loan Interest Here are the tips to reduce a personal loan’s interest rate: Make Timely Debt RepaymentsPay your monthly obligations, including your credit card balance, in full. The other debts you have should likewise be repaid promptly. Then, you might get better terms on loans in the future. You will have a better chance of negotiating reduced personal loan interest rates and conditions with the lender if you have a solid EMI repayment history. Good Debt/Equity RatioThe capacity of a debtor to repay the debt relative to the total gross earnings is known as the debt-to-income ratio. You may get the ratio by dividing your total EMIs by your salary. A low rate may be obtained by showing the lender you have control over the finances by having a favourable ratio. High CIBIL Score The CIBIL score evaluates a buyer’s trust and is vital in reducing a personal loan interest rate. A high score indicates your ability to repay the loan on time and the low chance of default. Lenders often reduce rates for a strong CIBIL score. A good score is 750 or above. This shows responsible credit behavior and your ability to manage money. Employee ReputationLending firms prefer to provide loans to users who work for the state, federal government, or PSUs. Better terms may also be negotiable for reputable firms, MNCs, and similar entities’ staff members. Lenders anticipate that you will have a reliable source of income, respectable employment, and a plan to guarantee that you will pay back the loan when due. Loan AmountReducing the loan rates may be achieved by taking out a loan for a lower sum. As the sum is modest, the lender is certain that the loan will be returned on time, which lowers the likelihood of default. Check The Interest Calculation ProcessDespite the lender providing you with a lower personal loan interest rate, you can pay more interest throughout the loan. This is so that different lenders may calculate rates differently. The rate that is offered on loan may be fixed or fluctuating. A floating rate is subject to monthly adjustment, but a fixed rate means a set lending rate for the time of your loan. Typically, the rate is 1% to 2% higher than the variable rate. While a fixed rate does not change throughout repayment, the variable rate does base here on benchmark rates set by NBFC. Relations With The LenderYou can get a loan with a cheap personal loan interest rate and better service conditions if you have a good link with the lender. The lender would have noted your positive credit behaviour. The risk is lower than if you were a new client. Shorter TermWhile you can choose a longer loan term, going with a short term might help you pay less interest overall. As a result, the effective rate on the principal amount will be lower. In a global lending market, lenders may be eager to grant loans with low rates since lenders know that short-term loans have a lower default rate. Choose Lender’s Offers or Better DealsTry to connect with the top lenders on the market as you compare them. This can help determine any unique offers lenders may be willing to provide. Also, most lenders advertise special deals and discounts during the holiday season. Enrol for these emails or SMS’, and keep an eye out for them. Interest Rate ComparisonNot all lenders will provide loans with high rates. Check several banking firms’ personal loan interest rates before requesting a loan. Do your research and ask them for different offers. This will help you decide which lender would provide you with the best personal loan interest rate. Good Loan Repayment HistoryYou may get a low-interest loan by making prompt paybacks and paying your EMIs on time with no defaults. A solid payback record gives the lender trust and might help lower rates. [B-02] Conclusion A personal loan can be helpful when you are short on funds and need the money. Unlike other loans, which need you to submit collateral against it, this does not require you to submit security against it. Since personal loan interest rates are among the highest, it is best to borrow from a lender offering lower rates and shorter terms. Banks also provide the lowest interest rates to customers with excellent credit. To learn more about personal loan interest rates, visit Piramal Finance. You can also explore their products and services.

08-11-2023

Personal Loan

Looking For Instant Personal Loans In Ahmedabad?

Many types of loans are available from banks and other financial entities. Thanks to technological advancements, applying for a loan is now easier and faster. This could mean that getting a loan is less of a hassle than before. When it comes to loans, personal loan in India is the most sought-after option. More than 78% of credit applications in India are in this category. These loans are popular among potential debtors. That’s because they are risk-free to the lender. Getting a personal loan from a bank, an online lender, or even your credit union is possible. You must start paying back the lender according to the repayment plan as soon as you have the money. If you’re looking for answers about how to get a personal loan in Ahmedabad, then you’ve found the right blog. Read on for detailed advice on securing a private loan in Ahmedabad. [B-01] How to Get Instant Personal Loans in Ahmedabad? When you ask for an instant personal loan, the bank doesn’t need to investigate your credit history. The bank doesn’t need to verify any collateral or security to approve your loan. Online applications and less documentation have made the procedure more practical and simple. Thus, this part is for you if you are interested in learning how to get a personal loan via the internet. Follow the steps below to get instant personal loan in Ahmedabad: Seek a dependable lender Many financial institutions now provide loan applications that you can submit online. This eliminates the need to visit a branch physically. Scanning digital copies of your paperwork and submitting them is a great option. It is especially great for people with busy schedules. That’s because it allows them to complete the entire process from their homes. You could even use lunch breaks to complete the application. Various financial institutions have speedy processing times. This feature ensures speedy disbursal of funds into your account. Maintain an excellent credit history and credit score A credit score is a three-digit figure that measures your creditworthiness. Higher scores show greater reliability in meeting financial obligations. Also, the bank will feel more secure knowing they can rely on you to make all your loan payments on time. If you keep a good credit score, you can get a personal loan online without talking to a bank employee. Also, suppose you pay your bills on time and don’t apply for too many loans. In that case, you’ll build a good credit history and have a good credit score. Maintaining your bank balance A bank will be more ready to give you a personal loan if you win their trust. You can show you can make your loan payments by keeping a healthy bank balance. Prequalification for a loan is a possibility in particular scenarios. But, there are a few upsides to maintaining a sizable amount in your account. In the first place, it’s useful in a dire situation. Second, it improves your chances of getting a loan. Third, It improves your chances of getting a better interest rate on your savings account. Which, in turn, means your loan will get approved quicker. Thus, you must not disregard your regular account balance if you seek an online personal loan. Online/offline application The first step in getting a personal loan is filling out an application. The application will need personal and professional information. You can fill out the form at the bank’s branch or online. But online loan applications streamline the procedure and save you time. Bank verification Once the bank gets your loan application, its staff will verify your details. They do this to determine your eligibility for a loan based on many factors. For example, age, monthly income, occupation, etc. Now, suppose you are already a customer at this bank. In that case, the bank will verify your financial history by looking at your bank statements. It will also look at any loans you have already taken out. KYC process Once your personal information gets confirmed, the bank will check the KYC documents. These are the documents you provided with the application or brought to a local branch. Applying for a personal loan is now very easy. A bank representative will visit your house to collect the paperwork. Address Confirmation A person from the bank may pay you a personal visit to verify your residential address. But, if you are self-employed, bank staff will visit your business to verify your residency. Credit score check The bank will look at your repayment history, pay stubs, or tax records. They’ll do this after they’ve verified your identity and determined your eligibility. Loan approval An instant personal loan gets approved very quickly if you match the requirements. Also, it gets approved quicker if your details are valid and your credit score is at least 750. Loan amount, tenure, and interest rate The bank will determine the loan amount and interest rate it will offer you based on several factors. For example, credit history, age, employment history, and other professional details. Banks also let you pick your payback term based on your finances and repayment capacity. Processing fee After the terms of the loan get finalized, the loan gets disbursed in exchange for a processing fee. You pay fees for personal loans in full. Moreover, the loan gets deposited in your account within 3-5 days. [B-02] Conclusion You can use a personal loan for anything. These include medical care, wedding costs, travel bills, and other bills. But, you should only take out a loan that you are confident you will be able to pay back. The lender will reduce processing, approval, and disbursement times. They can do this if you provide genuine documents with accurate information. With any luck, the information presented herein will aid you in your pursuit of a personal loan.

08-11-2023