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SBI Credit cardholders can now convert any purchase of Rs.500 and above into easy monthly instalments. This EMI option from SBI is known as Flexipay.

Most HDFC Bank Credit Cards give you reward points on every transaction. These reward points can be converted to cash, based on the type of credit card you hold.  You must accumulate a minimum of 500 reward points for redemption. Yes, you can convert your HDFC Bank credit card reward points to cash, but it is not available on all cards.

Every bank has its own internal policies in calculating the loan amount that one will be eligible for. It is mainly calculated based on the monthly income of the applicant. One of the criteria is your EMI will be structured in such way that it should not cross more than 40% to 50% of your monthly income. If your earning Rs. 25,000 per month, your maximum EMI towards a personal loan can be up to Rs. 12,500.

A personal loan is an unsecured loan and the lender would want a strong proof for repayment. Your salary is a major factor that determines your loan eligibility. Most lenders do not entertain candidates with income less than Rs. 10,000.

Understanding the usage of credit card at fuel stations, most of the credit card companies have come out with a card exclusively for fuel purchase. These cards will help you save more on your fuel expenses.

SBI Flexipay is a feature of SBI Credit Cards. This feature allows you to convert all the big purchases of Rs.2500 and above using your credit card to easy monthly instalments. 

No, you cannot convert your existing home loan to Pradhan Mantri Awas Yojana (PMAY). This scheme was launched by the Government of India in June 2015 with an intention of providing homes for the homeless by getting home loan from banks at subsidised interest rate. Following are the eligibility criteria to avail a home loan under PMAY.

It’s not possible to get two loans on the same house as the property can be used as the collateral for only one loan. However, both can apply jointly for a single loan on the same house. Having spouse as the co-applicant is the best combination for getting higher approval on a housing loan.

As the term suggests, quick loans are available within a few hours of application. It is different from the traditional loans that are available with banks and financial institutions. Most lenders have an easy registration process, wherein your basic details are requested and verified. The verification process is completed in no time to ensure money is disbursed. If you are eligible for a quick loan, the lender will immediately transfer the required funds into your account.  

Bajaj Finserv is a Non-Banking Financial Company (NBFC) that provides a wide range of financial products and services. Each financial product from Bajaj Finserv will have certain eligibility criteria that must be fulfilled in order to get approval for the respective credit. For example, if you are applying for a personal loan, the following eligibility criteria are required.

There are online lenders who provide quick loans exclusively for individuals who have bad credit history. All you need to do is to just fill out an application form and submit it online. The lender may have listed out the required documents and minimum credit score required to become eligible for the loan with bad credit. 

Launched in 1988 by the Government of India, Kisan Credit Card is an initiative that provides credit facilities to farmers for crop cultivation and allied activities. All agriculturists are eligible for this type of loan which includes farmers who have their own land, tenant farmers, sharecroppers and lessees. There is minimal paperwork involved, and the funds are disbursed quickly.

Banks extend hassle-free funds to farmers who are involved in crop production and allied agriculture activities. Lucky you are if you have gold jewels and get loans for agriculture. The lowest interest rate on gold loans can be availed from banks for purely for agriculture purposes.

Having a bad credit can sabotage your chances of getting a good loan. However, the chances are not completely ruled out. With the digital technology, you can explore the options. Following are some of the ways through which you can get a good loan even with a bad credit.

Getting a loan or credit card with bad credit could be quite a challenging task as the lender would expect a decent repayment ability from the borrower. However, the options are not completely ruled out. Following are the ways using which you can secure credit with a bad credit score.

Motor insurance is a legal agreement between you and the insurance provider wherein you promise you pay a certain amount of premium to get coverage for your vehicle in case of theft, loss, accident, third-party injury, etc. As per the Motor Vehicles Act 2017, vehicle should have a valid third-party insurance. Following are some of the advantages of having a motor insurance in India

Yes, it is legally approved to buy multiple term insurance policies. There are many advantages of taking up multiple term policies. It is a good way to diversify life coverage across different policies and reduce the amount spent on premiums. And, you will still have the protection from one policy holder if the other policy holder knocks down.

Term insurance is basically a life insurance policy which provides coverage for a certain period of time or years. If the insured passes away during this defined period, then the payable amount is paid to the family member (nominee) of the insured. 

According to the Motor Vehicles Act 1988, it is compulsory for all new vehicles used, be it for commercial or personal use, to have a third-party insurance. Taking a home insurance could be an option while getting a home loan from the bank. But legally, banks can’t force you to get a home insurance. Car purchase is the only purchase where it is mandatory to have an insurance policy.

Applying for loans and getting approvals from the bank is a tedious process as there are many documents / collaterals that you will have to furnish to the bank. The bank decides to approve your loan application based on your capacity to repay the loan amount and your credit history. If you have a steady source of income and a good repayment history, banks will offer you loans. But if you are unemployed, the scenario might change, even though it is not impossible to get a loan.   

Generally, for a score between 300 – 900, any score above 700 is considered as a good credit score. And if you have a score of 800, then it is definitely a good credit score. Having a score of 800 shows that you are consistent and doing it the right way with managing credit. Having said this, there is still room to improve and reach a perfect score of 850.