Various Exciting Credit Card Offers

A credit card is a plastic card that allows you to borrow money from the bank where you have an account and all you got to do is repay the amount within the time period of 25-30 days. If you are unable to pay back during this period you have to incur a certain fee for the delay. There are tons of benefits that come with owning a credit card. There are various rewards that come with this card. Let’s take a look at the different credit card offers that are being offered by various banks.

- Credit cards offer a great deal of discounts on a range of food outlets, hotels and wellness centres. Some cards have about 10-15% discount on all restaurants that have collaboration with them. With growing technology, there are certain mobile apps as well of the corresponding banks that let you avail exciting discounts.
- There are many credit card offers that have special privileges for times you want to go on a vacation abroad. You shop, dine and enjoy various lifestyle options by swiping your handy credit card.
- Some credit cards also avail access to special luxury lounges and spas across airports India. This is a great way to elevate your travel experience. If you are waiting for a connecting flight for a long period of time, you can simply check in to a lounge and chill for a bit while you are ready to board the next flight.
- These cards also come with special embedded microchip that makes your card secure from duplication or counterfeiting. So, you never have to worry about being duped as your  money is totally safe.
- There is also a fuel surcharge waiver at certain petrol pumps while purchasing fuel above a particular amount.
- There are also various PAYBACK points that one can earn while shopping with a credit card. Several retail outlets load your card with points that can be redeemed as and when you wish.
- A lot of credit card providers charge a zero lost card liability when the customer reports loss of card. This makes sure that there is no fretting or worrying on losing your card.

These are some of the amazing benefits of various credit card offers. You can choose the offer that suits you the best before making the final call. One can purchase so many things with a credit card and enjoy so many benefits on top of that. It is definitely a great choice for people who want to live a life of luxury in style.

How to choose the best Loan lender?

There are several steps you need to consider when you need to apply for a loan. Not only would you be required to understand the requirement for the loan, but you also need to ensure that you will be able to afford it. In the next step, you would need to identify the lender who would provide the loans that you would require to make the acquisition.

No doubt it would be a daunting task, given the number of several financial institutions that are functioning at the moment. However, there are certain factors you can consider when evaluating the loan offerings. They include the following:

Loan amount and eligibility: By usual standards, the quantum of a loans that you is likely to get, will depend on your occupation based on which, the monthly income will also be taken into consideration. Additionally, it would also include the disposable income and the number of dependents. It will also depend on the value of the product you will be purchasing. Typically, the amounts for most loans would extend from 80 to 85% of the product value. However, in certain cases, it can also extend to 90% of the project.

Interest rate: The rate of interest that you would opt for, on a loans in India would impact the EMI and the total interest paid by you. Therefore, it must be considered before you would begin the application process. You should shop around for different loan rates, and opt for the you that offers the most competitive you. You would also need to determine whether the interest rates that are offered are fixed or floating. While the fixed rates offer protection against fluctuations, floating rates offer the opportunity to take advantage of favourable market conditions. Keeping this in mind, you can opt for the lender that offers the ideal interest rate that suits your needs.

Terms and extra charges: There are plenty of extra charges loans in India would entitle. Normally, lenders would offer the processing fee as a part of the charge to process the loan. Normally, this amount would be anywhere between 0.25% to 25 of the loan amount. At the same time, you would also need to clarify the terms related to the settlement, foreclosure on any outstanding amount, balance transfer, prepaying or any other legal fees associated with loan approval and disbursal. You should make sure that you understands them well before applying for it.

Responsiveness to change in rates: You of the judging criteria’s you should consider about the lender is how quickly and how much the lender changes the interest rate, following the policy changes by the RBI. For example, if a lender is prompt in moderating rates in response to the RBi’s cut in repo rate, then you should opt for that lender.This not only offers you a fair deal from that lender for now but also for the future.

Are you aware of these tips before borrowing for car loans?

For plenty of individuals, getting a loan to finance the purchase of a car can be tempting and easy. All you need is a steady employment and sufficient income to cover your loan payments, and before long, you will be enjoying a brand new car in no time.

No doubt, with plenty of options for car loans, you will be spoilt for choice. Additionally, you will need to consider the risks and downsides that come along with taking any of these auto loans. So, how can you take advantage of the car loan you will be borrowing? Here are a few tips you can consider before borrowing:

Terms of the loans: The rate of the car loans, like any other loans,are determined by several factors namely, your income and your ability to repay the loan amongst many others. In order to get the best car loan in India, you first need to see what all is offered by the lender, and what all can you afford. Consider your own job situation. Are you steady enough to hold a loan for a few months or a few years? Is your job volatile, that you can afford to hold a loan, let alone along with other debts? You also need to contemplate the fact that the value of cars typically depreciate faster than long-term loans are paid off. In this situation, you may not be able to break even, even if you have to sell off your car to finance the loan and added interest.

Maintenance and insurance costs: If you purchase a new car, you would be under warranty for several years. However, if you are purchasing a used car or even car loans that outlast than the warranty period, you need to take into consideration possible maintenance, repair and insurance costs. Your monthly loan payment will definitely be low, but to get a good idea; you will need to take in all the other expenses into account. Additionally, you will need to consider other options in the event that your car breaks down.

Commitment: The decision to purchase a car will go back to your current life situation and how dedicated you are to your current job and location. Even if the car payment is lower than the leasing of a car, getting out of a car loan will be a costly affair. So if you see yourself in a stable job, with no plans to relocate or switch jobs, you can shop around for a car loan in India that suits your needs. An exception to this situation will be sufficient cash payment. If you have sufficient physical cash, you can easily pay off the purchase without any hassle.

All You Need to Know About What is Demat Account

A Demat account is an indispensable thing to have if you want to trade in the stock market. This kind of an account is meant to store your shares, bonds, mutual funds, government securities and more. Demat or dematerialisation has simplified the whole stock market trade experience by eliminating physical share certificates and replacing them with electronic form of securities. Here is more on what is Demat account and how it works.

- Central Depository: The two depositories in India are – the National Securities Depository Services Limited and the Central Depository Services Limited. The central depository keeps all your shareholding information on your behalf in a similar way that the banks do.
- Depository Participants: An investor can have access to their central depository with the help of their depository participants (DPs). The DPs can be a financial institution like a bank or brokers or organisations that provide Demat services.
- Unique ID: Every Demat account gets a unique number for identification. This number can be used to carry out transactions and for companies to identify you in order to credit shares to your account.
- Hold Portfolio: Since the Demat account keeps a record of all your securities and investments, you can take a look at your portfolio at one go. Every time you conduct a transaction, whether buying or selling shares, your list is automatically updated.

How to Open a Demat Account:

- The first step is to fill out a form for opening the Demat account. Submit it with the required documents like PAN card and residential address and a passport-sized photograph.
- Next, you will be given a copy of the list of the rules and regulations, various terms and the charges that you will need to pay.
- During this process, a member of the Depository Participant (bank person or broker) will contact you in order to cross-check the details you have provided for opening the account.
- As the application process progresses, you will be provided with a client ID or account number that can be used to access the details of your new account.
- Once the account starts functioning, the account holder may have to pay a certain fee to maintain the account or while converting physical shares to electronic form. Different DPs charge different fees as per their norms.
- When you open a Demat account, you absolutely have no worries about keeping a minimum amount of shares. You can open an account with no shares in it.

So if you were wondering what is Demat account, this should answer your question. You can now open an account with confidence and carry out your stock and other investments smoothly.

How a Prepaid Forex Card is Helpful During Your Travel

The holiday season is here and many of you must be packing your bags for a foreign tour with your loved ones. With changing times our banking needs have upgraded to another level. With almost every country going cashless, having a prepaid forex card is a blessing. This card is the best way to buy foreign currency while travelling abroad. Here are some of the benefits that make this cashless option so favourable for everybody who is planning a vacation.

- Accepted Everywhere: This card is accepted almost everywhere and you will never have any trouble finding a counter that takes this card for foreign currency. It is a feasible option if you have set out on a Euro trip, as you will save a lot of cross country currency exchange cost. Who would want to pay extra while travelling from one country to another?

- Reasonable over Credit/Debit Card: The prepaid forex card is a much cheaper option than a credit/debit card. If you decide to use your credit or debit card in a foreign country, you will be charged with a cross-currency mark-up for every transaction, which can range from 3-5%. Whereas, the forex card already carries foreign currency and it saves on all those extra mark-up costs.

- Safe and Secure: A card is always easier to carry than bundles of cash. And various companies also provide a secondary card along with the original forex card, which can be activated by placing a request on a toll free number when you lose the original one. The forex card can also be hot listed when lost just like your credit or debit card.

- Why Buy Currency: Why should one buy currency when it is more cost effective to buy a prepaid card. One should always opt for a prepaid forex card rather than buying cash and tediously carrying it along.

- Shielded from Currency Fluctuations: The prepaid card is always unaffected by any kind of currency fluctuations. It is because the amount loaded in the card is valued on the exchange rate of the day of the transaction, which remains unchanged.It is a win-win situation for you as no amount of currency hike or fall will affect the money already stocked on your prepaid card.

These are some of the benefits of the prepaid card while travelling abroad. You can plan your trip ease when you have the forex card handy. It is absolutely hassle-free and loaded with advantages. There are several banks like HDFC, ICICI, Axis, SBI and more offers a variety of prepaid cards to make your international trip a joyful one.

Several Advantages of Online Mobile Recharge

With changing times we as a race have made progress in all the areas of our lives. From banking to shopping and paying bills, everything has been digitalised. Things have become much more convenient and simple with technology spreading its branches to all the aspects of our lifestyle. Gone are the days when people would stand in line for hours just to get their mobile phones recharged. With digital options stepping, the same can be done at the comfort of your home or office. There are several benefits of online mobile recharge, following are some of them.

- Convenience: The recharge process has become absolutely hassle-free as you can make payments while relaxing on your couch. The services are available 24 x 7 and there are no restrictions whatsoever. This is the best way one can save time and energy.

- Easy Payment: One can recharge their pre-paid numbers or pay their post-paid ones using a Debit, Credit or ATM card. One can also use net banking accounts or Paytm accounts for online mobile recharge.

- Variety: There is a wide variety of recharge options for SMS, data packs, talk time, ISD services and more, which can be recharged via an online mode. There is no need to visit store after store to find the exact recharge you are looking for. There are various online portals that are a one-stop-solution for all your online mobile recharge needs.

- All-in-one:There are various online applications like Freecharge, Mobikwik, Paytm and more that provide recharge options for all major mobile service providers. You can get any account recharged with the help of these convenient mobile apps.

- Cash Back: Some of the recharge apps and portals also offer a certain percent of cash back amount along with other benefits like free coupons for various food and entertainment outlets. This is a great advantage for all mobile users as none of the physical recharge stores would offer such exciting offers for recharging your mobile.

- Easy Procedure: The process of recharging your phone is quite simple. All you got to do is download the app or visit the portal, login with your details, sync your bank details like credit/debit card number, password, related mobile number, and a few more banking details. Once this is done, you can recharge your phone any time you need to without any complication.

These are some of the benefits of online mobile recharge that makes it such a favourable option during these fast-paced, digitalised times. If you still haven’t tried this, you need to try it for yourself and get ready to be a total fan of this digital wonder.

How to avoid traps when applying for a credit card this festive season

With the festive time approaching, it may not come as a surprise that you will be caught up in the sudden festivities. Soon you will find yourself amidst the chaos of choosing gifts and shopping for attires.

But to make your financial expenditure more flexible and convenient during this time, surely you would think a credit card would make a great tool to help finance your purchase. No doubt, you will rack reward points or even cash back offers with the amount of shopping you will do with the card. After all, the bill at the end would justify the means of saving in the long run. But is it?

Not many are aware, that excessive expenditure on your credit card can lead to plenty of financial traps in the future. And this future can also be long term. So if you are thinking to apply for a credit card here are a few things you need to keep in mind, before you begin the application process.

• Limit your application to one credit card: It may seem easy when you are considering a credit card to apply for, especially when it comes to multiple credit cards. But you should actually restrict your application to one card. This will go a long way to set what you spend, especially since the limit on the card will prevent any extensive expenditures. Additionally, one card will make it easier to set a regular pattern of purchases and repayment, which goes a long way to establishing a good credit history.

• Understand all the terms and conditions: Before even beginning the process to apply for a credit card, you first need to consider the terms associated with this banking card. What is the interest fee, what are the annual fees attached to it? Are there different rates for cash advances? You will need stringent answers to these questions before you consider a credit card to apply for.

• Set a budget: Setting a budget is critical when you begin to shop with the credit card. No doubt, the limit on the card will prevent you from over expenditure, but a budget will deter you from even reaching that limit in the first place. It also helps prevent any unnecessary expenditures and reduce your overall credit bill. 

• Set a time limit on big purchases: You may have to spend big bucks on items that are a bit expensive. Before making this purchase, you will need to consider the necessity and feasibility of your repayment on such purchases along with your other smaller purchases. To be on the safer side, establish a waiting period of several days before you buy.

• Ensure that you avoid paying a bare minimum: While you shop, you can also take steps to repay the borrowed funds as soon as possible.Your minimum repayments can be as low at 1.5% of the outstanding amount. But by paying the minimum amount, you don’t cover your interest payments. In the end, you will pay more interest overall, thus making it longer to pay off your debt.