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Business Loan

How to Check Your Cibil Score for a Business Loan

The CIBIL score or credit score is very important to consider while applying for a business loan. This score is required by banks, non-banking financial corporations and other financial institutions to assess your creditworthiness and chances of repaying a loan. A high CIBIL score indicates that you are a good credit risk and will confer benefits such as lower interest rates on loans. The CIBIL score is calculated using information from more than 6.5 billion records of loans and credit cards held by thousands of Indian lenders across the country. [B-01] Minimum CIBIL score needed for business loans All banks and financial institutions use the CIBIL score to evaluate your eligibility for a loan and decide the rate of interest that would apply to it. To get a business loan, you will have to maintain a good CIBIL score. But what is the minimum CIBIL score required for getting such a loan? The answer to this question depends on various factors such as your occupation and nature of business, the type of bank you approach for the loan, and more. For a collateral-free business loan, you will need a credit score of at least 700. When applying for a secured business loan, however, the loan can be approved for a lower CIBIL score, of 600 to 700. How to check your CIBIL score for free It is easy to check your CIBIL score online by following the steps below. Ensure all the information you enter is correct to get the right results. For a free CIBIL score check, visit the official website of TransUnion CIBIL, the company in charge of generating CIBIL scores. Select the ‘Get your CIBIL Score’ option. Enter your name and email address, and create a password to log in to your account. You will also need your identification documentation details (such as your PAN card number, passport number, voter ID or Aadhaar number) along with your pin code, birthdate, and phone number. Click on the ‘Accept’ button to proceed. You will receive an OTP on your registered phone number. Enter this OTP and click on the ‘Continue’ button. Go to the dashboard to check your CIBIL score. You will be redirected to the results page. You can now view your CIBIL score. How to get a good CIBIL score for business loans The credit rating of a business is one of the main aspects lenders look at when deciding whether or not to issue a loan. If a business has a high CIBIL score, it means that they are more likely to pay back debts on time and in full. This can help them get better rates on loans and may even help them get approved for loans that they wouldn’t have otherwise been able to get approved for. There are several ways that you can improve your business’s CIBIL score: 1. Check your credit report and dispute any errors If there are any errors in your credit report, you can file a dispute with the credit bureau or the agency that issues your credit report. Your creditors may be able to help you resolve these issues and get your CIBIL score back on track. 2. Keep your accounts active This will help you improve your score in case of any future defaults by improving your credit history. Always keep your utilities and telephone accounts active, as well as all other outstanding loans with banks or financial institutions. 3. Don’t open new accounts unless it’s absolutely necessary You can avoid the situation of being denied by opening a new account, but it’s better to wait until you have a sufficient balance in your existing accounts. The reason is that if you open a new account with a large amount, then there is a possibility that your CIBIL score will go down due to a large number of transactions. Factors affecting CIBIL scores for business loans The CIBIL company score is a measure of the creditworthiness of your organisation. It is calculated by a computerised algorithm based on your past and current financial transactions, including loans, debts, bills and payments. You can check the score with the help of various credit facilities. The CIBIL company score is calculated based on various factors such as: Payment history: This is the first and most important factor in determining your CIBIL score. If you have a good record of timely payment of bills, you will get a better score. Credit utilisation ratio: Your credit utilisation ratio is the percentage of how much credit is being used by you as compared to your total credit limit. In case you are using more than 80% of your available credit limit, then it will negatively affect your CIBIL score. New credit: Every time you apply for a new loan or credit card, it will affect your CIBIL score. So, try to avoid applying for new loans as much as possible if you want to maintain a good CIBIL score. Late payment history: Late payments not only affect your current CIBIL score but also all future scores as well (even after paying off all dues). So, ensure you make all payments on time without fail! [B-02] Conclusion The importance of CIBIL scores can not be overstated. The integrity of CIBIL scores reflects transparency in financial dealings, which is a crucial aspect of business transactions these days. A good CIBIL score can help a business strike the right deals with well-wishers and raise money at reasonable rates. On the other hand, a bad CIBIL score often becomes a daunting task for banks to deal with. So, if you are interested in raising capital for your business or even floating your company’s shares, first ensure your CIBIL score is free of malpractices. Remember, you can always check your CIBIL score for free online. Are you looking for similar finance blogs? Visit the Piramal Finance website and help yourself to the knowledge of wide-ranging financial products and services, especially credit card scores, mutual fund investments and personal loans.

08-11-2023

Tax

Section 80c: Income Tax Deduction Rules You Must Know

Section 80c of the Income Tax Act has a significant advantage. It allows you to claim tax rebates on investments. You can claim a tax deduction of up to ₹150,000 especially applicable to individuals. Companies, LLPs, or partnership firms are not eligible for this. It is sometimes not easy to calculate individual tax. This guide will help you do that. Let us check the sub-sections of 80c. [B-01] Tax Deductions You Can Avail Under 80c Sub-Sections Subsection Tax Deductions Things to Know Section 80CCC It is use for annuity pension plans. Tax deductions are possible in this section. It includes the purchase, renewal, or continuation of policy. The section is applicable for pension or periodical annuity. Individual taxpayers are eligible for this section. Section 80CCD It is use for central government pension schemes. The Atal Pension Yojana is one of the schemes in this section. The monthly amount is receive from the National Pension System. Accounts surrendered are taxable in this scheme. The deduction amount should be lower than 10% of the Salary for individual taxpayers. Section 80CCF Individuals & HUFs can claim deductions in this section. Deductions are applicable in a few aspects. Tax savings and infrastructure bond investments are some of them. The maximum Deduction is ₹20,000. The investments have a pretty decent interest rate. The tax benefits are good, too. Section 80CCG This is an excellent choice for people interested in the market. It is for individual investors in the equity market. It applies to first-time buyers only. The gross total income must not exceed ₹12,000,00 per year. The maximum Deduction is ₹25,000. There is a limit on investments, which is ₹50,000. There is a 50% deduction available in this section. The lock-in period is 3 years. Investments & Expenses Eligible for Under 80c Deduction Unit Linked Insurance Plans (ULIP) ULIPs combine life insurance coverage and investments. A part of the premium goes towards life insurance and rest invested in equities or debt instruments. The lock-in period is 5 years. Tax-free options include investment payments up to ₹150,000 per annum. You can also get withdrawals and maturity amounts tax-free. Proceeds are taxable if the annual premium exceeds ₹250,000. ULIP allows you to switch among different investment portfolios. These include equity, debt, and balanced portfolios. These insurance plans are useful for many things. You can save for retirement. You can plan your children’s education. ULIPs are also useful for creating wealth. Life Insurance Premiums The minimum holding period for these premiums is 2 years. Premiums of self, spouse, or dependent children for tax deductions. Policies for parents or parents-in-law are not eligible for deductions. The maximum investment in a financial year is ₹150,000. Public Provident Fund (PPF) Contributions made towards PPF are tax deductible under 80c this is one of the most popular options. Resident Indian nationals are eligible for this fund. There is a more extended lock-in period for PPF, which is 15 years. Investment payments, maturity amounts, and interest are tax-free. The funds can be use for long-term savings. You may plan for a child’s wedding. You can secure your retirement with this scheme. PPF is also helpful in wealth generation. Tax Savings Fixed Deposit Banks and Indian post offices allow you to open Tax Saving Fixed Deposits. They have higher interest rates than regular deposits. The deposits are tax deductible. The lock-in period is 5 years. The interest earned in this deposit is taxable. You can invest a maximum of ₹150,000 in a financial year for tax-free plans. Employees Provident Fund (EPF) EPF is a vital scheme. The retirement scheme is available for all salaried employees. You are eligible after five years of service. The employer or the individual opens the account. The employer and employee must contribute 12% of the basic Salary + D.A. if the Salary is above ₹15,000. Employer’s contribution is not suitable for tax deduction under 80c. It is tax-free. EPF allows you to save a portion of your wages. Employee’s contribution for up to ₹150,000 in a financial year is eligible for deductions. Equity Linked Savings Scheme (ELSS) You can invest in ELSS Mutual Funds this will help you claim the section 80c Deduction. The lock-in period is 3 years. A maximum investment of ₹150,000 in a financial year is tax-free. National Savings Certificate (NSC) NSC is one of the most popular tax-saving schemes. The central government offers it to Indians. The tax is deductible under Sub-Section 80CCD. You can choose the lock-in period. It is 5 years or 10 years. A maximum deposit of ₹150,000 in a financial year is tax-free. An additional contribution of ₹50,000 is deductible under Section 80CCD (1B). Senior Citizens Savings Scheme An individual above 60 can opt for SCSS. If you choose the Voluntarily Retirement Scheme (VRS), you can invest in SCSS after age 55. The lock-in period is 5 years. You can extend the lock-in period by another three years. A maximum deposit of ₹150,000 in a financial year is tax-free. Sukanya Samriddhi Yojana Significant savings scheme. It is mean for girls’ education and wedding needs. The parents of the girl child can open this account before the girl child turns ten. You can open accounts for two girls. If twin girls are in the second birth, you can claim an 80c deduction for all three girls. There are tax exemptions in this scheme. Interest earned and proceeds received upon maturity/withdrawal are some of them. Good scheme for parents as it offers peace of mind. It helps plan for the child’s future. It is a great gift idea, too. Infrastructure Bonds These are government bonds. They offer by companies that develop infrastructure. You can help in the country’s growth with these bonds. These bonds are tax-exempt. ₹150,000 is the maximum tax-free investment in a financial year. Home Loan Principal Repayment The Indian government wants everyone to have homes. You may build your home with a home loan. These loan payments are eligible for tax deduction under section 80c. You must construct a house within five years from the time of the loan. You can claim a deduction for the year when construction ends. The principal repayment amount paid towards the home loan is deductible under 80c. You cannot claim tax deductions for the interest. A maximum investment of ₹150,000 in a financial year is tax-free. Getting the Maximum Benefits via Income Tax Section 80c Deduction You can claim a total deduction of ₹150,000 as an individual, HUF, or NRI because of section 80c of the Income Tax Act. You can do this on a single transaction. You can also diversify investments. [B-02] Final Thoughts on 80c Deduction You don’t need all these exemptions to file taxes. The maximum benefit stays the same. It is ₹150,000 for a financial year. You can decide what is best for you. Think about risk-taking ability. Plan your financial goals. Then, choose which scheme works. Explore more about tax-saving schemes on Piramal Finance. This online platform is what you need to learn everything about relevant developments in the world of finance. Check out the website for informational blogs on financial matters and learn more about personal loans, credit cards, and financial management.

08-11-2023

Dream Mobile

10 Best Indian Mobile Brands.

Smartphones have become popular gadgets for daily use. Among all the countries with massive populations, India has one of the fastest-growing smartphone markets. India's smartphone market experienced a 4% growth in 2024 - 2025, with total shipments reaching 151 million units. The top ten Indian mobile companies for the best smartphones will be discussed in this article. [B-01] 10 best Indian mobile brands for robust phones LYF – Reliance Retail: LYF is a part of Reliance Jio (parent company). It takes its culture forward by putting customers at the centre of its business. These Indian mobile phones come with 4G-enabled VoLTE features. It is the second-largest LTE smartphone supplier in India. LYF builds smartphones with great user experiences (UX). It is among the top five brands in India. It also features HD voice calling, Wi-Fi (VoWi-FI), and high-definition (HD) video calling. It became popular in the market because of its affordable price range. Micromax: Micromax Informatics is another well-known consumer electronics brand. It delivers high-quality Indian mobile phones with excellent features. It achieved a large-scale adoption of smartphones and advanced technologies in the Indian market. This largest phone manufacturing company produces budget-friendly smartphones for the Indian market. In 2010–2012, the company also introduced LED TVs and tablets into the market. This Indian mobile brand is popular among youths. Karbonn Mobile: It is another of the leading Indian mobile companies that got started in 2009. It has multiple awards under its name. It is a joint venture of Jaina Group (from New Delhi) and UTL Group (from Bengaluru), with headquarters in New Delhi. They aim to benefit a large number of people with their smartphones. Within a short period, its popularity crossed borders – in countries like Sri Lanka, Nepal, and Middle East Asia. Xolo Phones: This is another Indian mobile phone brand that has launched its smartphones with Intel processors. It is also the first Indian smartphone company to launch a 4G-enabled smartphone. It partners with AMD. Xolo is also known for introducing the first dual-camera phone in India. Naturally, the brand became a game changer in the domestic market. It is known for its premium smartphones with unique designs and incorporates new technologies. Lava International Ltd.: As of February 2025, Lava International Ltd. stands as no.1 Indian phone brand. In 2024, Lava achieved a market share of 2.5%, positioning it as the top Indian brand in the domestic smartphone market.The Indian mobile brand has expanded its business across multiple countries. Since 2009, it has remained at the forefront with cutting-edge mobile handsets as a part of the Make-in-India initiative. It is also known for its hardware, software, industrial handset designs, etc. Lava has expanded its product lineup with the introduction of the Agni 5G series, aiming to capture a larger share of the Indian smartphone market. With the aim of “Design in India” initiative, it took complete control over manufacturing and designing phones in India. Intex technologies: It is a well-know . The company aims to enhance Indian lives with smooth access to the latest technologies and IT products. Its mobile handsets serve millions of customers from all socioeconomic backgrounds, age groups, and rural and urban India.It has also extended its business to LED TVs. YU Televentures: YU Televentures began manufacturing smartphones during December 2014. It is a joint venture between Micromax Informatics Limited and Cyanogen Inc. This company became a widespread Indian mobile brand and consumer-durable business. YU mobile as a brand has won the trust of millions of consumers with its quality and highly durable smartphones. It is one of the most trusted brands that delivers stylish smartphones with powerful features at an affordable cost. YU has the official Cyanogen OS rights in India. Recently, this brand has also started to manufacture smart TVs. i-ball: It is another home grown tech accessory brand that has become popular for its mobile handsets and PCs. Since it foundation in 2001, this Indian mobile company has touched over 100 million users, 1 lac active retailers, 5000 (approx.) trade partners, and more than 500 service centres. It has now captured the tech-savvy Indian buyer. Spice Telecom: Spice is a well-known Indian mobile manufacturing company. It disrupted the Indian mobile phone market over the past decade. Spice Telecom as a brand remains a trusted strategic partner despite the rapid technological shifts and massive disruptions in the smartphone industries.It provides excellent customer service. The business focuses on telecom-focused IT, fintech, and content solutions. Celkon Mobiles: It is a well-known Indian mobile phone manufacturer that aims to eliminate the digital divide. It brings affordable technology to the market. This company has its headquarters in Hyderabad. It has manufacturing units in Telangana and Andhra Pradesh. It left its mark in other countries like Bangladesh, Sri Lanka, Singapore, and Nepal. It also delivers its smartphones in Botswana, Zimbabwe, South Africa, Namibia, and other countries. FAQ 1. Which mobile brands are manufactured in India?Several Indian mobile phone brands manufacture and assemble their smartphones domestically under the Make in India initiative. Some of the most notable Indian-made phone brands include Lava, Micromax, Karbonn, Xolo, and Intex. Additionally, global brands like Samsung, Xiaomi, and Realme have manufacturing plants in India to cater to the local market.2. What are the top Indian mobile brands to consider?If you prefer Made in India mobile companies, the following brands are worth considering:• Lava International – Known for producing affordable and durable smartphones.• Micromax – A popular choice for budget-friendly smartphones.• Karbonn – Focuses on mid-range smartphones with a strong market presence.• Intex – Offers entry-level smartphones and tech accessories.• Xolo – Recognized for its stylish and innovative smartphone designs.3. Which mobile brands are non-Chinese?If you're looking for non-Chinese mobile phone brands, consider the following:• Apple (USA)• Samsung (South Korea)• Nokia (Finland)• Sony (Japan)• Lava, Micromax, Karbonn (India)4. Which is the No.1 mobile brand in India?As of 2025, Vivo holds the title of India’s No.1 mobile brand based on sales figures. The brand has surpassed competitors like Xiaomi, Samsung, and Realme in market share.5. Which is India’s No.1 mobile company?Among Indian mobile brands, Lava International Ltd. ranks as the No.1 Indian mobile company in 2025. It leads the Made in India smartphone market, offering both budget-friendly and premium devices.6. What is the highest-selling mobile brand in India?In recent years, Xiaomi has been the highest-selling mobile brand in India, attracting millions of users. However, Vivo, Samsung, and Realme have also secured a strong presence in the market.7. Which is the most widely used mobile phone in the world?Globally, Apple’s iPhone continues to be one of the most widely used smartphones. The iPhone 15 series is currently among the most popular models worldwide.8. Which was the first mobile phone introduced in India?India’s first-ever mobile phone call was made in 1995 when West Bengal Chief Minister Jyoti Basu called Union Telecom Minister Sukh Ram. The call was made using a Nokia handset on the Modi-Telstra network.9. Which mobile brands are manufactured by country?Here’s a breakdown of mobile phone brands by their country of origin: Brand Country of Origin Apple USA Samsung South Korea Nokia Finland Sony Japan Lava India Micromax India Xiaomi China Realme China OnePlus China 10. Which is the World’s No.1 Mobile Company?The World’s No.1 mobile company in terms of market share and sales is Samsung. The South Korean brand consistently dominates global smartphone sales, followed by Apple, Xiaomi, and Oppo.11. Which mobile company is best in India?The best mobile company in India depends on individual preferences and needs:• Best Flagship Phones: Apple, Samsung• Best Budget Phones: Xiaomi, Realme• Best Made-in-India Phones: Lava, Micromax• Best Mid-Range Phones: OnePlus, iQOO [B-02] Conclusion Smartphones have become an essential asset for our everyday tasks. We hope this article has given you a crisp idea of the top ten trusted Indian mobile phone brands. This article also highlighted some powerful business goals for these Indian mobile companies. Other well-known Indian mobile brands are Jivi Mobiles, Onida Mobiles, Loop Mobiles, etc. Piramal Finance is an excellent financing solution for shoppers looking for the best Indian mobile phones. Visit Piramal Finance’s website to learn more about their financial offerings and services, such as EMIs, personal loans, credit cards, etc.

08-11-2023

Education

How to Apply for a New Aadhaar Card Online?

Aadhaar is a 12-digit unique identification number that residents of India can obtain based on their biometric and demographic data. The Unique Identification Authority of India (UIDAI) collects the data. It serves as proof of identity and addresses anywhere in India. It is considered a reliable and secure way to establish an individual’s identity to avail of various government and non-government services in India. The online application process for the Aadhaar Card is straightforward. Residents who wish to enroll for an Aadhaar card can do so on the Uidai website. The whole process takes around 10-15 minutes to complete. [B-02] How to apply for a new Aadhaar card online? Applying for a new Aadhaar card online is a simple process. All you need to do is visit the official website of UIDAI and follow the step-by-step instructions mentioned below: Go to https://uidai.gov.in/. Under the 'Aadhaar Online Services' tab, select 'Enrolment' A new page will open, and you will be required to enter details such as your name, address, email ID, mobile number, etc. Once you have entered all the necessary details, click 'Submit.' You will now be required to enter biometrics details such as fingerprints and an iris scan. You will be given an acknowledgment slip once you have provided the biometrics details. This acknowledgment slip will contain the enrolment number, which you can use to track the status of the Aadhaar card application. The Aadhaar card will be delivered to your registered address within 60-90 days from the date of application. Which documents are required for a new Aadhaar Card? To apply for an Aadhar card online, you must provide certain documents, such as proof of identity and address. The list of documents required for an Aadhaar card is as follows: Proof of identity (POI) – This could be your passport, PAN card, voter ID card, driving license, etc. Proof of address (POA) – This could be your ration card, bank statement, utility bills, etc. Date of birth proof (DOB) – This could be your birth certificate, 10th standard mark sheet, passport, etc. Suppose you still need to get the documents mentioned above. In that case, you can provide an identity declaration signed by a Gazetted Officer or a Group A Gazetted Officer on a letterhead with your photograph duly attested by them. How do you check the Aadhar Card status online? Once you have applied for the Aadhar card, you can track the application status online. To check the status of the new Aadhaar card online, you will need to follow the steps mentioned below: Visit https://uidai.gov.in/ Under the 'Aadhaar Online Services' tab, select 'Enrolment' Select 'Check Aadhaar Status' on the next page under the 'Check Enrolment Status' section. You will be required to enter the enrolment ID and date/time stamp mentioned on the acknowledgment slip. Once you have entered all the required details, click on 'Check Status.' The status of the Aadhaar card application will be displayed on the screen. It usually takes 60-90 days for an Aadhaar card online application to be processed and delivered to the registered address. If you have not received your Aadhaar card within this period, you can visit the nearest enrolment centre with the acknowledgment slip to get a reprint of the Aadhaar card. How to download a new E-Aadhaar Card online? If you want to download a copy of the e-Aadhaar card, you can do so by following the steps mentioned below: Visit https://uidai.gov.in/ Under the 'Aadhaar Online Services' tab, select 'Enrolment' On the next page, select 'Download Aadhaar' under the 'Get Aadhaar' section You will be required to enter the enrolment ID and date/time stamp, which is mentioned on the acknowledgment slip Once all the required details have been entered, click on 'Check Status.' The status of the new Aadhaar card online application will be displayed on the screen You can now download and print a copy of the e-Aadhaar card It is important to note that to download a copy of the e-Aadhaar card, you will need a working mobile number. An OTP (one-time password) will be sent to this number to authenticate the download. Why is it important to have an Aadhaar Card? There are many benefits of having an Aadhaar card, some of which are mentioned below: It helps quickly identify individuals: An Aadhaar card contains all the necessary information about an individual, like name, date of birth, address, etc. Anyone can easily access this information, making it easier to identify an individual. It helps avail government benefits: Many government schemes, like LPG subsidy, MNREGA, etc., are linked with an Aadhaar card. This means an individual can avail of these benefits only if they have an Aadhaar card. It helps in banking transactions: An Aadhaar card can be used as a KYC (Know Your Customer) document while opening a bank account or carrying out any other banking transaction. It helps get a mobile phone connection: As per the new guidelines of TRAI (Telecom Regulatory Authority of India), linking one's mobile number with one Aadhaar is mandatory. This can be done by providing the 12-digit Aadhaar number while purchasing a new SIM card or verifying an existing number. It helps get a passport: According to the Ministry of External Affairs's new guidelines, linking one's Aadhaar number with one's passport is mandatory. This can be done by providing the 12-digit Aadhaar number while applying for a new passport or renewing an existing one. Thus, having an Aadhaar card has many benefits. It is helpful for individuals and the government as it helps in the better implementation of various schemes and programs. Conclusion Aadhaar is a 12-digit unique identification number that residents of India can obtain. It serves as proof of identity and address and can be used for various purposes, such as availing government services or opening a bank account. Anyone can apply for an Aadhaar card by visiting an enrolment centre near them or using the website. If you need more help understanding this process, visit Piramal Finance. This online platform is where you can learn everything about relevant developments and procedures in finance. For more information on financial matters or about personal loans, credit cards, and financial management, check out the blogs on their website!

08-11-2023

Education

Here is How to Check EPFO Pension Status

If you are a member of the Employees’ Provident Fund and your retirement is near or you have already retired, you must be wondering about your pension amount under the Employees’ Pension Scheme,1995 (EPS). You will be provided with a 12-digit number under this scheme through which you can check the status of your pension on the official portal of the Employee Provident Fund Organisation. Keep reading to learn how you can check your pension status in detail. Steps to Find Pension Payment Order (PPO) Number To check your pension status the first and foremost thing that you need is the PPO number. Follow the simple steps mentioned below to find your PPO number to check pension status online: Step 1: Visit the official EPFO Portal (https://www.epfindia.gov.in/)Step 2: You need to click on the Pensioner’s portal under the services tab Step 3: Now, a new page will appear on your screen with a message i.e. ‘Welcome to Pensioners Portal. ‘Click ‘Know your PPO number’ which you can easily find on the right side of the pageStep 4: You need to know either your bank account number or PF number.Step 5: After this, a PPO number, Member ID, and pension type will be allotted to help you check your pension status online What is a PPO Number and Why do you need it? According to the Central Pension Accounting Office (CPAO), the first 5 digits of the 12-digit PPO number consists of the PPO issuing authority’s code number, the next 2 digits refer to the year in which the PPO number was issued, the next 4 digits refers to PPO’s sequential number, and the last digit refers to the check digit which is mainly for computer’s purpose. A PPO number acts as a reference number that is required for any sort of communication to be made to CPAO. Checking Pension Status Online through EPFO Portal Once, you have found out your pension number. All you need to do is follow the six simple steps mentioned below to check Pension Status online via the EPFO portal: Step 1:Visit the official website of EPFO and log in with your credentialsStep 2: You need to click on the Pensioner’s portal under the online service sectionStep 3: Now, you will see a new page appearing on your screen with the ‘Welcome to Pensioners Portal‘ messageStep 4: Now, you have to click on ‘Know Your Pension Status’ is mentioned on the right side of the pageStep 5: As the last step, you have to select your office, your office ID, and your PPO number.Step 6: Once done, you have to click on the ‘Get Status’ option to know the status of your pension. Eligibility for Employee Pension Scheme Below are a few conditions that must be met to be eligible for the Employee Pension Scheme: You must be a member of the Employees Provident Fund Organization. It is imperative that you must be above 50 years of age and must have completed 10 years of service to be eligible for an early pension under the Employee Pension Scheme. The eligibility criteria for a normal pension is that you must be at least 58 years of age. In case of the unfortunate event of the death of the pension holder, the family members of the deceased become eligible for the pension amount [B-02] What are the Various Types of Pensions under the Employee Pension Scheme? Take a look at the below-mentioned various types of Pensions under the Employees’ Pension Scheme (EPS): Widow PensionUnder this pension scheme, the widow of the pension holder becomes eligible for availing of the pension amount. The widow will be receiving the pension until she dies or decides to remarry. Child PensionIn case of the pension holder’s death, the surviving children of the family become eligible for availing the pension amount along with the monthly widow pension. The child will be receiving a pension until the age of 25 years. Orphan PensionEPFO members’ children will be entitled to receive the pension amount in case the member dies and there’s no surviving widow/ They will be receiving the monthly orphan pension of 75% value of the monthly widow pension amount. This benefit will only apply to the two surviving children. Reduced PensionThere’s a possibility of withdrawing an early pension in case the member has completed 10 years of service and is 50 years old but not more than 58 years. In such a case, the pension amount slows down at the rate of 4% each year until the member reaches the age of 58 years. Pension Forms Below are the types of pension forms that you need to submit to withdraw the pension amount: If you are an EPFO member and want to withdraw your pension before 10 years of service, you need to submit Form 10C. For monthly pension withdrawal after 50 years of age and monthly widow pension, child pension, etc., you need to submit Form 10D. If you are a pensioner or a guardian, you will have to sign a Life Certificate form claiming that you are alive. This form is required to be submitted where your pension account is active every year in the month of November to the bank manager. If you are a widow, you will have to submit a declaration i.e. Non-Remarriage Certificate that you are not remarried every year in November to the bank manager. Conclusion It can be seen that the Employee Pension Scheme is a great way to save money for a better financial future. Not only this, but EPS also helps you to save taxes when you earn interest. For more information on anything related to Banking & Financial Services, visit the Piramal Finance website today! Make sure your financial knowledge is up to date on essential services and products, such as personal loans and financial calculators, by reading the informative blogs on their website.

08-11-2023

Best

Best Online Car Insurance Plans to Choose From

Cars are among the most popular forms of personal transportation today. However, vehicular accidents are not entirely uncommon. If you are a car owner, you must consider any accidents that could happen and damage your vehicle. Both new car insurance policies and car insurance renewals have increased significantly. Are you concerned about picking the best car insurance policy? This blog gives you the details of the insurance plans for your car and explains the types of coverage they offer. Why is Car Insurance Important? The car insurance policy not only safeguards your vehicle but also protects you and your family in case of an accident. For this reason, the Motor Vehicle Act of 1988 demands that all car owners buy car insurance. The following are some of the prime reasons for purchasing car insurance online and making sure to renew it on time: Reduces the liability Covers all kinds of damage Covers hospitalisation costs In the case of death, the family is given compensation You can get coverage at all times by paying to buy a premium. Buying car insurance online is cheaper. What does a Car Insurance Policy Cover? The various types of security are referred to as insurance coverage. It’s critical to understand what types of events are covered by any car insurance policy before purchasing. You can pick from various add-ons to boost the plans’ basic coverage to improve their level of protection. Here are some major types of car insurance coverage available in India. Third-party liability – Every owner of a vehicle needs to get this coverage. This policy covers any harm you may cause to another driver. This coverage covers liabilities resulting from someone’s death and the expense of hospitalisation and treatment for third parties. It also covers the cost of repairs or replacements for their damaged vehicles. Personal Accident Coverage – You can opt for personal accident coverage to protect yourself. In case of injury, this insurance coverage will cover your medical expenses and any damage to you. Theft – If your car is stolen, this car insurance coverage will compensate as per the Insured Declared Value (IDV) of the car. Collision Damage – When you get collision damage car insurance, the expense of fixing your damaged car is covered. The vehicle's age and Insured Declared Value are considered when calculating the cost of collision coverage. Zero Depreciation Cover – Usually, car insurance policies come with this coverage as an add-on. A Zero Depreciation Cover will enable you to receive the full claim amount without considering any cost depreciation. Top 5 Car Insurance Policies For You: You will always want to check and compare various available plans before buying your car insurance online. Here is a list of some of the best car insurance plans currently available for you to choose from. Car Insurance Policy Motor Claim Settlement Ratio Network Garages HDFC ERGO Car Insurance 91.23% 8300+ SBI General Car Insurance 91.75% 16000+ TATA AIG Car Insurance 90.49% 7500+ Reliance General Car Insurance 85.82% 8200+ Bajaj Allianz Car Insurance 88.83% 4000+ HDFC ERGO Car InsuranceThe features of HDFC ERGO Car Insurance are: It has over 8300 cashless garages, so you don’t have to worry no matter where you are in India. The premium plan for HDFC ERGO Car Insurance starts at just ₹2094. You will get 24×7 roadside assistance, ensuring you are not stranded alone. This plan offers 6 add-on covers, including zero depreciation cover. SBI General Car InsuranceThe features of SBI General Car Insurance are: It offers both comprehensive and third-party car insurance. You can get multiple premium add-on covers, like NCB, key replacement, bi-fuel kit, and loss of belongings. It offers compulsory third-party liability with personal accident coverage. It provides quick and efficient cashless claim settlements. TATA AIG Car InsuranceThe features of TATA AIG Car Insurance are: After five years without a claim, you might receive up to 50% discount on your car insurance premiums. By purchasing your car insurance online, you can save up to 75% on the insurance price. Up to 13 add-ons can be included in a comprehensive car insurance policy to safeguard your four-wheeler. You can get a car insurance renewal quickly and easily in 3 simple steps. Reliance General Car InsuranceThe features of Reliance General Car Insurance are: It offers up to 7 add-ons, including nil depreciation, consumables cover, key protection cover, and engine protector cover. Reliance General Car Insurance offers comprehensive and third-party car insurance. Free roadside assistance is available. No claim bonus of up to 50% is available on premium purchases. Bajaj Allianz Car InsuranceThe features of Bajaj Allianz Car Insurance are: Its Drive Smart feature lets you track your driving in real time and receive premium discounts. It provides owner-drivers with personal accident coverage of Rs. 2 lakh. Additionally, the plan provides towing services in the case of a breakdown. Owners, drivers, and passengers may also purchase personal accident coverage. [B-02] The Final Takeaway Making a choice will be much simpler for you now that you know the benefits of different car insurance policies. It is usually a good idea to research and compare several options before selecting the best plan. You can visit the Piramal Finance website to know more about finance and easy financial solutions like insurance, personal loans, credit cards, and more.

08-11-2023

Best

Find the Best Car Insurance Policy Online by Calculating and Comparing Premiums

A car insurance policy offers coverage to the vehicle owner. A car insurance premium is the money you pay the insurance company. This is for a set period of time. After this, your insurance company will take care of the coverage mentioned in the insurance policy. This is done till the end of the policy period. What are the ways to determine your premium plan? Do you need to call the agent and ask them to do it for you? Or, can you calculate the insurance policy of your car online? This article will teach you simple things to keep in mind before buying car insurance online. It will tell you how simple calculation and comparison are. It is way easier than reaching out to a bank or an agent. [B-01] Types of Insurance Premiums Third-party Liability Insurance This insurance includes the coverage of a third party. Assume a vehicle collides with yours. The other vehicle suffers damage. The insurance company has to pay for damage to the other vehicle. This insurance is mandatory in India, according to the Motor Vehicles Act of 1988. Comprehensive Motor Insurance Policy This policy gives coverage to the insured and third parties. Sometimes, unfortunate events like accidents take place. In that case, the insurance company is liable for the insured and the third party. Both types of insurance are helpful. Consider them if you are planning to buy a new car. If you have not taken a policy for your already existing car, do so now. Essential Factors that determine your Car Insurance Premium Insured Declared Value of the Vehicle (IDV) The IDV is the maximum claim you can ask for damages to the car. The insurance provider will give you the amount after reducing deductibles. The provider will pay you when repair costs exceed 75% of IDV. IDV of the vehicle affects the premium. You pay more premium for a new vehicle. The formula for calculating IDV is: IDV= (Manufacturer’s listed selling price – depreciation) + (Accessories not included in listed selling price – depreciation) excluding registration and insurance costs. Age of the Car Due to wear and tear, the value of a car reduces over time. Insurance providers use the vehicle’s age to decide the car’s market value. New car launches can lower your car’s market value too. Cubic Capacity of an Engine The capacity of an engine is determined by its cubic capacity. The car insurance premium is slightly higher for a new car than for an old one. The premium in third-party insurance is the same for old and new vehicles. Location Geographical zones in India are divided into Zone A and Zone B. These zones are used to calculate the premium for car insurance. Zone A comprises New Delhi, Chennai, Bengaluru, Pune, Ahmedabad, and Hyderabad. Zone B includes the rest of India. There are more accident-prone areas in Zone A. So, the residents of Zone A pay higher premiums than Zone B. The Insurance Regulatory and Development Authority(IRDAI) has changed insurance policies. A policyholder can pay the premium according to usage. Let’s understand this in detail: Pay as you Drive A customer pays a premium according to usage. A vehicle that spends more time on the road is more prone to accidents. Thus, you pay more premium for more use of the car. You pay less premium for less usage of the vehicle on the road. Pay how you drive A customer with a good safety record can pay a lower premium. A driver with rash driving, challans and traffic tickets has to pay a higher premium. Floater Policy You can have a single policy for all your vehicles. The premium will be slightly higher than that of other policies. How to Calculate and Compare Car Insurance Premium Online Nowadays, it is easy to calculate the estimated amount of an insurance policy online. How? Through a car insurance calculator. Key in essential information like your car registration number. You will get the information at once. Enter the IDV and get the best quotes. You can compare the coverage provided by using the online insurance calculator. Visit the website of any insurance provider and get a quote quickly. This will give you a fair idea of your best premium plan. Information required for new cars for premium calculation online Car’s registration details Car model Manufacturing year Owner’s details – name, gender, marital status, contact details Policy commencement date Information required for used cars for premium calculation online Ownership details of the previous car Particulars of the claim of previous policy Current car insurance details Benefits of using Car Insurance Calculator Ease of Comparision Insurance providers offer different types of policies. An insurance calculator allows you to compare insurance policies. This makes it easier and more efficient to find information. By comparing, you can choose the best policy for you. Make a wise choice The insurance calculator gives you the factors that affect your car insurance premium. You can add on or discard additional insurance cover. You can monitor your premium payment with ease. You can make better choices. Know the right IDV of your Car It is essential to know the IDV of your car. This is important to calculate the details of the premium. The calculator helps you arrive at the right amount of IDV. [B-02] Final Thoughts After reading through this article, you must have learnt more about necessary insurance policies. The car insurance policy protects you and the vehicle. The online calculator helps you get a hassle-free car insurance policy quote. You can calculate and compare car insurance policies online using simple steps. If you need more guidance and assistance with selecting the right insurance policy, visit Piramal Finance. This online platform is what you need to learn everything about relevant financial products such as vehicle insurance, personal loans, credit cards, and more.

08-11-2023

Personal Loan

Home

Best Centre Table Ideas for Drawing Room In 2025

The living room is the heart and soul of any home. It is the place where we read the morning newspaper, sip hot cups of tea, or simply lounge around to unwind after a hectic day. The special bond that we share with our drawing rooms makes it imperative to model the space in a way that speaks to us. What better way to revamp your drawing room than to opt for a modern centre table? A lot of us do not pay much heed to the drawing room’s centre table, but trust us when we say that it can transform the space and make it much cosier. Do you want to know how a centre table will revitalise the mood, feel, and appeal of your living room? If so, read ahead. [B-01] Things to keep in mind before buying a centre table In today’s day and age, buying any piece of furniture is an investment. Therefore, as a smart consumer, you should put some thought and care into your purchase. As the centre table resides at the heart of your drawing room, it should subtly grab attention. In addition, the best centre table for your drawing room is the one that meets both form and function. In other words, the centre table you choose should fulfil the following requirements: It should be utilitarian. It has to be practical enough to serve as a coffee spot as well as a spot to stack magazines. It should be trendy. It should fit the aesthetics of your home. The optimal centre table will upgrade the look of your living room. Apart from the criteria mentioned above, some of the expert advice you can follow in choosing the right centre table for your living room area is as follows: Tip 1: Size Matters: The ideal centre table anchors the furniture in your living room by filling in the gap while providing enough space for movement around the furniture. The centre table should have a distance of 18 inches from other furniture. The table should be smaller than two-thirds of the largest piece of seating in the room. It should have enough space for the placement of showpieces and other objects like magazines, laptops, etc. For easy access, the table’s height should be the same as or a few inches lower than the sofa. Tip 2: Shape is Important: Your sofa’s shape will determine the shape of your centre table. If you have a rectangular sofa or an L-shaped lounge, go for a rectangular table. For smaller sofas with square seating space, a square or round centre table is optimal. Tip 3: Consider the Aesthetics: The centre table of your drawing room is bound to draw the attention of visitors; therefore, it should have a pleasing aesthetic that matches your room’s vibe. For instance, you can match the centre table with the colours, textures, and patterns in your living room: It is the safest way to get the “aesthetic” right. Now that we know how to choose the right centre table for the drawing room, let us look at a few of the best designs of the season. The best living room centre tables that you can invest in 2022 1. Mirrored Glass Block-Style Centre Table: If your style is minimalistic and simple, then the block-style centre table made of translucent glass will blow your mind. This unique furniture item from All Home Living can substitute for a “piece of art.” Pros Unique design Sleek look Will look good in different living room setups Spacious platform Cons Expensive High maintenance Can be too plain for some 2. Fireplace Design Centre Table: How about combining your drawing room’s centre table with a fireplace? Sounds intriguing, right? Nowadays, centre tables with fireplace features are gaining popularity. They look stunning and are perfect for getting if you want fuzzy, cosy vibes all year around. Pros Unique Design Showstopper quality Great for the winters Optimal for people living in a cold climate Cons It can be impractical Can be hazardous without discretion Restrictive design 3. Sheesham Wood Centre Table with Shelves: If you are someone who loves the feel of luxury, then the Sheesham centre table from Amazon will be your best bet. If you want to add some gravitas to your living room and make it comfortable at the same time, then do not think twice and book this table immediately. Pros Durable Classy design Spacious Low maintenance Cons Expensive Bulky 4. Floral Engraved Metal Centre Table: The stunning and intricate centre table from Wooden Street is optimal if you want to add some jazz to your living room and still keep things sober. If you love antique furniture, then you will love this table. It is the perfect combination of class and modernity. Cons No storage space It can be difficult to maintain Bulky 5. Duochrome Contemporary Centre Table: If you are looking for a centre table for your drawing room that is elegant, modern, and practical, then you have found your match. This contemporary centre table from BLUEWUD is best for new-age living rooms that demand something sophisticated. In addition, there are brown and white duo-chrome shades. Pros Classy design Spacious and practical Versatile Affordable Cons User has to assemble the centre table themselves [B-02] Wrapping It Up So, there we have it, the five best centre tables for the drawing room in 2022! If you want to invest in top-notch furniture but are worried about finance, then Piramal’s personal loan options can help!

08-11-2023

Credit Score

How Can I Check My CIBIL Score for Free?

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

08-11-2023