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You can now get a credit card in India even if it is less than Rs. 20,000 per month. Most banks offer an exclusive credit card for people with low income. The card holder can upgrade the credit card or increase the credit limit on the card once the income goes higher. Following are some of the popular credit cards that will best suit the needs of low income individuals. 

Any citizen of India between the age of 18 to 65 can open a National Pension System (NPS) account. It can be opened online or by visiting the Point of Presence - Service Provider (PoP - SP) nearby. 

Bank of Baroda offers four types of credit cards to their customers namely Easy, Select, Premier and Prime. Among the four credit cards, Easy and Prime are best suited for low income earners. Following are features and benefits of the cards.

Although the chances of bagging a loan with bad credit and without a guarantor are slim, there are still options. You can use your existing collateral to get a loan with bad credit. Following are some of the popular options.

MSME Loans are very crucial for the development of the MSME sector in India. Most of the banks and NBFCs provide MSME loans to Micro, Small and Medium Enterprises. The interest rates on the MSME loans range from 8.50% to 17% depending on the business profile and internal policies of the lender. 

Yes, a housewife can get a state pension by signing up for ‘Atal Pension Yojana’ which was launched by the government in 2015. The scheme can be availed by all citizens, including housewives between the age limit of 18 to 40. The subscriber should have a savings account which will be linked to the pension scheme. The premium can be paid from the savings account through an auto-debit facility or other payment methods.

For all types of loans (secured and unsecured), the applicant must show proof of income so that lenders can evaluate your repaying ability. Although a housewife works hard for the family’s well-being, she is still treated as a non-earning member. Despite this, there are options to become eligible for loans.

Terms insurance plans are pure risk cover that provides greater benefits to the beneficiaries at a lower cost. One of the main eligibility criteria to avail of a term plan is income. Although a housewife works hard and contributes to the wellbeing of the family, she is still considered a non-earning member in the family. Hence, it is difficult for a housewife to get a term insurance plan.

Krazybee Student Paycard works just like a credit card. You can easily transfer money from this card to Paytm under the credit card option. Moreover, the card can be used at e-commerce portal such as Amazon, Snapdeal, Myntra and Jabong.

In India, paying to a business in the form of cash cannot be refused. However there are certain types of transactions or amounts that can’t be done in cash. Accepting cash worth Rs. 2 lakhs or more in total from a single person in a day or for a single occasion will lead to violation of the cash transaction law. Receiving or repaying more than Rs. 20,000 in cash for transfer of immovable property can land you in tax trouble or a penalty.

A cashless business is where financial transactions are not conducted with money in the form of physical banknotes, but are done in the form of electronic payments and online banking. Development in electronic payments has enabled cashless business to flourish. For businesses, managing huge amounts of cash can be cumbersome and unsafe whereas cashless options are because of electronic payments and cashless transactions.

Cashless business transactions are done in the form of electronic payments and online banking. Making such transactions are convenient and quick. There are more benefits of going cashless with your business. Cash can be easily stolen as well as can be used to make illegal transactions as there are no records of such transactions. However, with cashless businesses it’s hard to hide income and evade taxes as there’s record of all the transactions being made.

There are no insurance benefits in the Atal Pension Yojana scheme. This scheme is for workers in the unorganized sector (maids, gardeners, drivers, etc). It helps workers to save money for their old age while they are working and guarantees returns for their retirement. The subscriber would have to make monthly contributions towards the scheme depending

The amount you need to put aside for retirement depends on your retirement corpus. Your retirement corpus is the estimated amount you need that will help you manage your monthly expenses once you are retired. This cannot be planned in a couple of years because the amount you would have to save is huge.

If you are an investor with an appetite for risk and long-term goals like saving for retirement, a child’s education or marriage, equity plus funds can be useful either on a standalone basis or in combination with other investment options. Equity Plus Funds are launched by unit-linked insurance plans, mutual funds, and other investment categories. It generates a return higher than the 10-year government bond by taking on limited risk through equities.

The government, in collaboration with, Small Industries Development Bank of India(SIDBI), has launched a portal through which one can apply for a business loan online. This initiative was started to ease access to credit to individuals and MSMEs. It aims at automation and digitalization of various processes of business loans in such a way that a borrower gets an in-principle approval letter in less than 59 minutes. The borrower will be given the flexibility to choose their own lender.

You can certainly make money from money. However, the option depends on your risk appetite, existing amount and objective. For safe investment options, banks and NBFCs are the best place to park your money and earn moderate returns through RD, FD, government bonds and post office saving schemes. PPF, Sukanya Samriddhi Account, National Pension System, etc., are some of the plans which are ideal for long-term risk-free investments. 

Investing in the Atal Pension Yojana, a pension scheme that is aimed at the unorganized sector qualifies you for income tax benefits. So if you are contributing to the Atal Pension Yojana, you are eligible for the same income tax benefits as the National Pension System. Under Section 80CCD(1), investment in Atal Pension Yojana or National Pension System

APY or Atal Pension Yojana guarantees a return of investment, meaning, upon the death of the policyholder, the beneficiary will get back the paid premiums.  In the Atal Pension Yojana scheme, once the subscriber dies, his/her spouse will receive the exact pension amount. After the death of the subscriber's spouse, the nominee of this account gets a corpus amount.

Atal Pension Yojana scheme is a pension scheme for people working in the unorganized sector. It is better to check the eligibility criteria before subscribing to the scheme

Loan duration and EMI are the two important factors that determine your debt burden. When you take any loan, these two factors are fixed up front before the approval. Based on your acknowledgement, the loan amount is disbursed after agreeing to the terms and conditions. If the EMI amount is higher, the loan tenure may be lower and if you have low EMI amount, the tenure may be longer depending on the loan amount.